Common use of Notice of Default, Litigation and ERISA Matters Clause in Contracts

Notice of Default, Litigation and ERISA Matters. Forthwith upon learning of the occurrence of any of the following, written notice which describes the same and the steps being taken by the Loan Parties with respect thereto: (i) the occurrence of a Default or Event of Default, (ii) the institution of, or any adverse determination in, any litigation, arbitration proceeding or governmental proceeding in which any injunctive relief is sought or in which money damages in excess of $10,000,000, which is not otherwise covered by Issuers’ insurance are sought, (iii) the occurrence of a Reportable Event with respect to any Plan, (iv) the institution of any steps by Issuers, the PBGC or any other Person to terminate any Plan, (v) the institution of any steps by Issuers or any ERISA Affiliate to withdraw from any Plan or Multiemployer Plan which could result in material liability to Issuers, (vi) the failure to make a required contribution to any Plan if such failure is sufficient to give rise to a lien under Section 302(f) of ERISA, (vii) the taking of any action with respect to a Plan which could reasonably be expected to result in the requirement that Issuers furnish a bond or other security to the PBGC or such Plan or Multiemployer Plan (to the extent that a bond or other security is not already in place), (viii) the occurrence of any event with respect to any Plan or Multiemployer Plan which could result in the incurrence by Issuers of any material liability, fine or penalty; and, promptly after the incurrence thereof, notice of any material increase in the contingent liability of Issuers with respect to any post-retirement Welfare Plan benefits, or (ix) the occurrence of any event which alone or together with other events could reasonably be expected to have a Material Adverse Effect.

Notice of Default, Litigation and ERISA Matters. Forthwith upon learning of the occurrence of any of the following, written notice thereof which describes the same and the steps being taken by the Loan Parties Borrower with respect thereto: (i) the occurrence of a an Event of Default or an Unmatured Event of Default, (ii) the institution of, or any adverse determination in, any litigation, arbitration proceeding or governmental proceeding in which any injunctive relief is sought or in which money damages in excess of $10,000,000100,000, which is not otherwise covered by Issuers’ Borrower’s insurance are sought, (iii) the occurrence of a Reportable Event with respect to any Plan, (iv) the institution of any steps by IssuersBorrower, the PBGC or any other Person to terminate any Plan, (v) the institution of any steps by Issuers Borrower or any ERISA Affiliate to withdraw from any Plan or Multiemployer Plan which could result in material liability to IssuersBorrower, (vi) the failure to make a required contribution to any Plan if such failure is sufficient to give rise to a lien under Section 302(f) of ERISA, (vii) the taking of any action with respect to a Plan which could reasonably be expected to result in the requirement that Issuers Borrower furnish a bond or other security to the PBGC or such Plan or Multiemployer Plan (to the extent that a bond or other security is not already in place), (viii) the occurrence of any event with respect to any Plan or Multiemployer Plan which could result in the incurrence by Issuers Borrower of any material liability, fine or penalty; and, promptly after the incurrence thereof, notice of any material increase in the contingent liability of Issuers Borrower with respect to any post-retirement Welfare Plan benefits, or (ix) the occurrence of any event which alone or together with other events could reasonably be expected to have a Material Adverse Effect.

Notice of Default, Litigation and ERISA Matters. Forthwith upon learning of the occurrence of any of the following, written notice thereof which describes the same and the steps being taken by the Loan Parties Borrower with respect thereto: (i) the occurrence of a an Event of Default or an Unmatured Event of Default, (ii) the institution of, or any adverse determination in, any litigation, arbitration proceeding or governmental proceeding in which any injunctive relief is sought or in which money damages in excess of $10,000,000100,000, which is not otherwise covered by Issuers’ Borrower’s insurance are sought, (iii) the occurrence of a Reportable Event with respect to any Plan, (iv) the institution of any steps by IssuersXxxxxxxx, the PBGC or any other Person to terminate any Plan, (v) the institution of any steps by Issuers Borrower or any ERISA Affiliate to withdraw from any Plan or Multiemployer Plan which could result in material liability to IssuersBorrower, (vi) the failure to make a required contribution to any Plan if such failure is sufficient to give rise to a lien under Section 302(f) of ERISA, (vii) the taking of any action with respect to a Plan which could reasonably be expected to result in the requirement that Issuers Borrower furnish a bond or other security to the PBGC or such Plan or Multiemployer Plan (to the extent that a bond or other security is not already in place), (viii) the occurrence of any event with respect to any Plan or Multiemployer Plan which could result in the incurrence by Issuers Borrower of any material liability, fine or penalty; and, promptly after the incurrence thereof, notice of any material increase in the contingent liability of Issuers Borrower with respect to any post-retirement Welfare Plan benefits, or (ix) the occurrence of any event which alone or together with other events could reasonably be expected to have a Material Adverse Effect.

Notice of Default, Litigation and ERISA Matters. Forthwith upon learning Promptly (and in any event within three Business Days (or, in the case of clause (a) below, one Business Day)) after any officer of the occurrence Company learns of any of the following, written notice which describes describing the same and the steps being taken by the Loan Parties Company or the Subsidiary affected thereby with respect thereto: (ia) the occurrence of a an Event of Default or an Unmatured Event of Default, ; (iib) the institution of, or any adverse determination in, any litigation, arbitration proceeding or governmental investigation or proceeding in not previously disclosed by the Company to the Banks which has been instituted or, to the knowledge of the Company, is threatened against the Company or any Subsidiary or to which any injunctive relief of the properties of any thereof is sought subject which has had or is reasonably likely to have a Material Adverse Effect; (c) any material adverse development which occurs in which money damages in excess of $10,000,000any litigation, which is not otherwise covered by Issuers’ insurance are sought, arbitration or governmental investigation or proceeding previously disclosed pursuant to clause (iii) the occurrence of a Reportable Event with respect to any Plan, b); (ivd) the institution of any steps by Issuersthe Company, the PBGC any of its Subsidiaries or any other Person to terminate any Pension Plan, (v) the institution of any steps by Issuers or any ERISA Affiliate to withdraw from any Plan or Multiemployer Plan which could result in material liability to Issuers, (vi) the failure to make a required contribution to any Pension Plan if such failure is sufficient to give rise to a lien Lien under Section 302(f) of ERISA, (vii) or the taking of any action with respect to a Pension Plan which could reasonably be expected to result in the requirement that Issuers the Company furnish a bond or other security to the PBGC or such Plan Pension Plan, or Multiemployer Plan (to the extent that a bond or other security is not already in place), (viii) the occurrence of any event with respect to any Plan or Multiemployer Pension Plan which could result in the incurrence by Issuers the Company of any material liability, fine or penalty; and, promptly after the incurrence thereof, notice of or any material increase in the contingent liability of Issuers the Company with respect to any post-retirement Welfare Plan benefits, or benefit; and (ixe) the occurrence of any other event or circumstance which alone has had or together with other events could is reasonably be expected likely to have a Material Adverse Effect.

Notice of Default, Litigation and ERISA Matters. Forthwith upon Promptly (and in any event within one Business Day in the case of CLAUSE (A) and within five Business Days in the case of CLAUSES (B) through (E)) after learning of the occurrence of any of the following, written notice which describes describing the same and the steps being taken by Parent or the Loan Parties Subsidiary affected thereby with respect thereto: (ia) the occurrence of a an Event of Default or an Unmatured Event of Default, ; (iib) the institution of, or any adverse determination in, any litigation, arbitration proceeding or governmental investigation or proceeding in not previously disclosed by Parent to the Agents and the Lenders which has been instituted or, to the knowledge of Parent, is threatened against Parent or any Subsidiary or to which any injunctive relief of the properties of any thereof is sought subject which has had or is reasonably likely to have a Material Adverse Effect; (c) any material adverse development which occurs in which money damages in excess of $10,000,000any litigation, which is not otherwise covered by Issuers’ insurance are sought, arbitration or governmental investigation or proceeding previously disclosed pursuant to CLAUSE (iii) the occurrence of a Reportable Event with respect to any Plan, B); (ivd) the institution of any steps by IssuersParent, the PBGC any of its Subsidiaries or any other Person to terminate any Pension Plan or any Canadian Plan, (v) the institution of any steps by Issuers or any ERISA Affiliate to withdraw from any Plan or Multiemployer Plan which could result in material liability to Issuers, (vi) the failure to make a required contribution to any Pension Plan if such failure is sufficient to give rise to a lien Lien under Section 302(f) of ERISA, (vii) or the taking of any action with respect to a Pension Plan or a Canadian Plan which could reasonably be expected to result in the requirement that Issuers Parent or the Company furnish a bond or other security to the PBGC or such Pension Plan or Multiemployer Plan (to the extent that a bond Canadian Plan, or other security is not already in place), (viii) the occurrence of any event with respect to any Pension Plan or Multiemployer Canadian Plan which could result in the incurrence by Issuers Parent or the Company of any material liability, fine or penalty; and, promptly after the incurrence thereof, notice of or any material increase in the contingent liability of Issuers Parent or the Company with respect to any post-retirement Welfare Plan benefits, or benefit; and (ixe) the occurrence of any other event or circumstance which alone has had or together with other events could is reasonably be expected likely to have a Material Adverse Effect.

Notice of Default, Litigation and ERISA Matters. Forthwith Promptly upon learning of the occurrence of any of the following, written notice thereof which describes the same and the steps being taken by the Loan Parties Company with respect thereto: (i) the occurrence of a Default or an Event of Default, (ii) the institution of, or any adverse determination in, any litigation, arbitration proceeding or governmental proceeding in which any injunctive relief is sought or in which money damages in excess of $10,000,000, which is not otherwise covered by Issuers’ insurance 5,000,000 are sought, (iii) the occurrence of a material Reportable Event with respect to any PlanPlan subject to Title IV of ERISA, (iv) the institution of any material steps by Issuersthe Company, the PBGC or any other Person to terminate any PlanPlan subject to Title IV of ERISA, (v) the institution of any material steps by Issuers the Company or any ERISA Affiliate to withdraw from any Plan or Multiemployer Plan subject to Title IV of ERISA which could would result in material liability to Issuersthe Company, (vi) the failure to make a material required contribution to any Plan if such failure is sufficient to give rise to a lien under Section 302(f) of ERISA, (vii) the taking of any material action with respect to a Plan which could reasonably be expected to result in the requirement that Issuers the Company furnish a bond or other security to the PBGC or such Plan or Multiemployer Plan (to the extent that a bond or other security is not already in place)Plan, (viii) the occurrence of any event with respect to any Plan or Multiemployer Plan which could result in the incurrence by Issuers the Company of any material liability, fine or penalty; and, which would in the Company's determination materially and adversely affect the Company's business, operations or financial condition or the ability of the Company to perform its obligations hereunder and under the Related Documents to which it is a party, or (ix) promptly after the incurrence thereof, notice of any material increase in the contingent liability of Issuers the Company with respect to any post-retirement Welfare postretirement Plan benefits, or (ix) the occurrence of any event which alone or together with other events could reasonably be expected to have a Material Adverse Effect.

Notice of Default, Litigation and ERISA Matters. Forthwith upon learning Promptly (and in any event within one Business Day in the case of clause (a) and within five days in the case of clauses (b) through (e)) after any officer of the occurrence Company or any Restricted Subsidiary learns of any of the following, written notice which describes describing the same and the steps being taken by the Loan Parties Company or the Restricted Subsidiary affected thereby with respect thereto: (ia) the occurrence of a an Event of Default or an Unmatured Event of Default, ; (iib) the institution of, or any adverse determination in, any litigation, arbitration proceeding or governmental investigation or proceeding in not previously disclosed by the Company to the Lenders which has been instituted or, to the knowledge of the Company, is threatened against the Company or any Restricted Subsidiary or to which any injunctive relief of the properties of any thereof is sought subject which has had or is reasonably likely to have a Material Adverse Effect; (c) any material adverse development which occurs in which money damages in excess of $10,000,000any litigation, which is not otherwise covered by Issuers’ insurance are sought, arbitration or governmental investigation or proceeding previously disclosed on Schedule 9.6 or pursuant to clause (iii) the occurrence of a Reportable Event with respect to any Plan, b); (ivd) the institution of any steps by Issuersthe Company, the PBGC any of its Subsidiaries or any other Person to terminate any Pension Plan, (v) the institution of any steps by Issuers or any ERISA Affiliate to withdraw from any Plan or Multiemployer Plan which could result in material liability to Issuers, (vi) the failure to make a required contribution to any Pension Plan if such failure is sufficient to give rise to a lien Lien under Section 302(f) of ERISA, (vii) or the taking of any action with respect to a Pension Plan which could reasonably be expected to result in the requirement that Issuers the Company furnish a bond or other security to the PBGC or such Plan Pension Plan, or Multiemployer Plan (to the extent that a bond or other security is not already in place), (viii) the occurrence of any event with respect to any Plan or Multiemployer Pension Plan which could result in the incurrence by Issuers the Company or any Restricted Subsidiary of any material liability, fine or penalty; and, promptly after the incurrence thereof, notice of or any material increase in the contingent liability of Issuers the Company or any Restricted Subsidiary with respect to any post-retirement Welfare Plan benefits, or benefit; and (ixe) the occurrence of any other event or circumstance which alone has had or together with other events could is reasonably be expected likely to have a Material Adverse Effect.

Notice of Default, Litigation and ERISA Matters. Forthwith upon ----------------------------------------------- learning of the occurrence of any of the following, written notice thereof which describes the same and the steps being taken by the Loan Parties Borrower or any Subsidiary with respect thereto: (i) the occurrence of a an Event of Default or an Unmatured Event of Default, (ii) the institution of, or any adverse determination in, any litigation, arbitration proceeding or governmental proceeding involving Borrower or any Subsidiary in which any injunctive relief is sought or in which money damages in excess of $10,000,000, which is not otherwise covered by Issuers’ insurance 50,000 are sought, (iii) the occurrence of a Reportable Event with respect to any Plan, (iv) the institution of any steps by Issuersthe Borrower, any ERISA Affiliate, the PBGC or any other Person to terminate any Plan, (v) the institution of any steps by Issuers the Borrower or any ERISA Affiliate to withdraw from any Plan or Multiemployer Plan which could result in material liability to Issuersthe Borrower or any ERISA Affiliate, (vi) the failure to make a required contribution to any Plan if such failure is sufficient to give rise to a lien under Section 302(f) of ERISA, (vii) the taking of any action with respect to a Plan which could reasonably be expected to result in the requirement that Issuers the Borrower or any ERISA Affiliate furnish a bond or other security to the PBGC or such Plan or Multiemployer Plan (to the extent that a bond Plan, or other security is not already in place), (viii) the occurrence of any event with respect to any Plan or Multiemployer Plan which could result in the incurrence by Issuers the Borrower or any ERISA Affiliate of any material liability, fine or penalty; and, promptly after the incurrence thereof, notice of any material increase in the contingent liability of Issuers the Borrower or any ERISA Affiliate with respect to any post-retirement postretirement Welfare Plan benefits, or (ix) the occurrence of any event which alone or together with other events could reasonably be expected to have a Material Adverse Effect.