Notice of Litigation and Defaults Sample Clauses

Notice of Litigation and Defaults. The Borrower will promptly give written notice to the Administrative Agent of (i) any action, proceeding or claim of which the Borrower may have notice, which may be commenced against the Borrower or any Subsidiary in which the amount involved is $50,000,000 or more and is not covered in full by insurance or as to which any insurer has disclaimed liability; and (ii) any default by the Borrower or any Subsidiary or event or condition known to the Borrower which with the giving of notice or lapse of time, or both, would constitute a default, with respect to any payment or payments in respect of Indebtedness of the Borrower or such Subsidiary aggregating in excess of $50,000,000 (whether in payment of principal thereof or interest thereon or with respect to any material covenant or agreement contained in any instrument, mortgage, deed of trust or agreement evidencing or relating to such Indebtedness or otherwise), provided that if any matter described in clauses (i) or (ii) of this Section has previously been disclosed by the Borrower in its regular or periodical reports filed with, or furnished to, the Securities and Exchange Commission, then no additional written notice shall be required under this Section.
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Notice of Litigation and Defaults. 6567 Section 5.06. ERISA.......................................................................................................6567
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Notice of Litigation and Defaults. Promptly after the occurrence thereof, the Corporation shall (a) notify each Investor of the initiation of any action, suit, proceeding, or governmental inquiry against the Corporation involving a claim for more than $25,000 or for injunctive relief; and (b) notify the Board of Directors of any default by the Corporation under any agreement for borrowed money in excess of $50,000 or any other material agreement of any kind. In each case such notice shall be delivered together with a reasonably detailed description of the action taken or proposed to be taken by the Corporation with respect thereto.
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Notice of Litigation and Defaults. Promptly after the occurrence thereof, the Company shall notify each Investor of (a) the initiation of any action, suit, proceeding, or governmental inquiry against the Company or any subsidiary involving a claim for more than $100,000 or for injunctive relief; (b) any default by the Company under any of the Financing Documents; and (c) any default by the Company under any agreement for borrowed money in excess of $100,000 or any other material agreement of any kind. In each case such notice shall be delivered together with a reasonably detailed description of the action taken or proposed to be taken by the Company with respect thereto.
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Notice of Litigation and Defaults. 7172 Section 5.06. ERISA..........................................................................................................................7172 Section 5.07. Payment of Charges........................................................................................................72 Section 5.08. Inspection of Books and Assets...................................................................................7273 Section 5.09. Indebtedness................................................................................................................7273 Section 5.10. Liens............................................................................................................................7374
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Notice of Litigation and Defaults. Promptly after the occurrence ------------------------------------ thereof, the Corporation shall notify each Investor of (a) the initiation of any action, suit, proceeding, or governmental inquiry against any Pinnacle Company involving a claim for more than $20,000 or for injunctive relief; (b) any default by any Pinnacle Company under any agreement for borrowed money in excess of $20,000 or any other material agreement of any kind. In each case such notice shall be delivered together with a reasonably detailed description of the action taken or proposed to be taken by any Pinnacle Company with respect thereto.
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Notice of Litigation and Defaults. Promptly provide notice to the Board of (a) the commencement or knowledge of the pending or threatened commencement of all actions, suits and proceedings before any court or Governmental Authority, affecting the Company taken as a whole which, if determined adversely to the Company, could have a material adverse effect on the financial condition, properties or operations of the Company; and (b) any default continuing for more than ninety (90) days by any Person under any Third Party Loan Document constituting Collateral, whether or not the Company has declared a default or accelerated such Third Party Loan.
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Notice of Litigation and Defaults. Promptly provide notice to the Board of (a) the commencement or knowledge of the pending or threatened commencement of all actions, suits and proceedings before any court or Governmental Authority, affecting the Company taken as a whole which, if determined adversely to the Company, could have a material adverse effect on the financial condition, properties or operations of the Company; and (b) any default continuing for more than ninety (90) days by any Borrower under any Note that was purchased by the Board pursuant to the Note Purchase Documents, whether or not the Company has declared a default or accelerated such loan.
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Notice of Litigation and Defaults. Subject to Section 2.4, during the License Option Term, but, for the avoidance of doubt, ending once Celgene has exercised all of its License Options if such exercises occur prior to the end of the License Option Term, promptly after the occurrence thereof, Concert shall (i) notify Celgene of the initiation of any action, suit, proceeding, or governmental inquiry against Concert involving a claim for more than $[**] or for injunctive relief; and (ii) notify Celgene of any default by Concert under any agreement for borrowed money in excess of $[**] or any other material agreement of any kind. In each case, such notice shall be delivered together with a reasonably detailed description of the action taken or proposed to be taken by Concert with respect thereto.
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Related to Notice of Litigation and Defaults

  • Notices of Litigation and Default Borrower will give prompt written notice to Collateral Agent and the Lenders of any litigation or governmental proceedings pending or threatened (in writing) against Borrower or any of its Subsidiaries, which could reasonably be expected to result in damages or costs to Borrower or any of its Subsidiaries of Two Hundred Fifty Thousand Dollars ($250,000.00) or more or which could reasonably be expected to have a Material Adverse Change. Without limiting or contradicting any other more specific provision of this Agreement, promptly (and in any event within three (3) Business Days) upon Borrower becoming aware of the existence of any Event of Default or event which, with the giving of notice or passage of time, or both, would constitute an Event of Default, Borrower shall give written notice to Collateral Agent and the Lenders of such occurrence, which such notice shall include a reasonably detailed description of such Event of Default or event which, with the giving of notice or passage of time, or both, would constitute an Event of Default.

  • Notice of Default, Litigation and ERISA Matters Promptly upon becoming aware of any of the following, written notice describing the same and the steps being taken by the Company or the Subsidiary affected thereby with respect thereto:

  • Notice of Litigation and Judgments The Borrower will give notice to the Agent in writing within five (5) Business Days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting the Borrower, any Guarantor or any of their respective Subsidiaries or to which the Borrower, any Guarantor or any of their respective Subsidiaries is or is to become a party involving an uninsured claim against the Borrower, any Guarantor or any of their respective Subsidiaries that could either reasonably be expected to cause a Default or could reasonably be expected to have a Material Adverse Effect and stating the nature and status of such litigation or proceedings. The Borrower will give notice to the Agent, in writing, in form and detail reasonably satisfactory to the Agent and each of the Lenders, within ten (10) days of any judgment not covered by insurance, whether final or otherwise, against the Borrower or any of their respective Subsidiaries in an amount in excess of $10,000,000.00.

  • Notice of Litigation Each Purchaser shall promptly notify the applicable Seller upon becoming aware of any Proceedings or threatened Proceedings concerning any Serviced Appointment (whether or not the Sellers are named in such Proceedings), in each case, excluding Proceedings in servicer-managed mortgage-level litigation with respect to residential mortgage-backed securities transactions. Notices pursuant to this Section 6.4 will be delivered to the notice recipient designated on Annex B.

  • Notice of Litigation, Etc Tenant shall give prompt Notice to Landlord of any litigation or any administrative proceeding to which it may hereafter become a party of which Tenant has notice or actual knowledge which involves a potential liability equal to or greater than Two Hundred Fifty Thousand Dollars ($250,000) or which may otherwise result in any material adverse change in the business, operations, property, prospects, results of operation or condition, financial or other, of Tenant. Forthwith upon Tenant obtaining knowledge of any Default, Event of Default or any default or event of default under any agreement relating to Indebtedness for money borrowed in an aggregate amount exceeding, at any one time, Two Hundred Fifty Thousand Dollars ($250,000), or any event or condition that would be required to be disclosed in a current report filed by Tenant on Form 8-K or in Part II of a quarterly report on Form 10-Q if Tenant were required to file such reports under the Securities Exchange Act of 1934, as amended, Tenant shall furnish Notice thereof to Landlord specifying the nature and period of existence thereof and what action Tenant has taken or is taking or proposes to take with respect thereto.

  • Notice of Default; Litigation Promptly after an Authorized Officer of the Borrower or any of the Restricted Subsidiaries obtains actual knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Subsidiaries that would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

  • Notification and Defense of Proceeding Promptly after receipt by the Indemnitee of notice of any Proceeding, the Indemnitee shall, if a request for indemnification or an advancement of Expenses in respect thereof is to be made against the Company under this Agreement, notify the Company in writing of the commencement thereof; but the omission so to notify the Company shall not relieve it from any liability that it may have to the Indemnitee. Notwithstanding any other provision of this Agreement, with respect to any such Proceeding of which the Indemnitee notifies the Company:

  • Collections and Defaults The Bank will use reasonable efforts to collect any funds which may to its knowledge become collectible arising from Portfolio Securities, including dividends, interest and other income, and to transmit to the Fund notice actually received by it of any call for redemption, offer of exchange, right of subscription, reorganization or other proceedings affecting such Securities. If Portfolio Securities upon which such income is payable are in default or payment is refused after due demand or presentation, the Bank will notify the Fund in writing of any default or refusal to pay within two business days from the day on which it receives knowledge of such default or refusal.

  • Termination and Default 86 Section 10.1

  • Absence of Violations and Defaults Neither the Company nor any of its Subsidiaries is (A) in violation of its charter, bylaws or similar organizational documents, (B) in default in the performance or observance of any obligation, agreement, covenant or condition contained in any contract, indenture, mortgage, deed of trust, loan or credit agreement, note, lease, license or other agreement or instrument to which the Company or any Subsidiary is a party or by which it is bound or to which any of the properties or assets of the Company or any Subsidiary is subject (collectively, “Agreements and Instruments”), except for such defaults that would not, singly or in the aggregate, result in a Material Adverse Effect, or (C) except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, in violation of any federal, state, local or foreign statute, rule, regulation or any order, judgment, writ or decree of any arbitrator, court or governmental, regulatory or administrative agency, authority or body or any self-regulatory organization or other non-governmental regulatory authority having jurisdiction over the Company or any of its Subsidiaries or any of their respective properties, assets or operations (each, a “Governmental Entity”), except for such violations that would not, singly or in the aggregate, result in a Material Adverse Effect.

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