Notice of Litigation, Claims, and Financial Change Sample Clauses

Notice of Litigation, Claims, and Financial Change. Borrower shall promptly inform Lender of (a) any litigation against Borrower or any Guarantor or affecting the Property, which, if determined adversely, might have a material adverse effect upon the financial condition of Borrower or any Guarantor or upon the Property, or might cause an Event of Default, (b) any claim or controversy which might become the subject of such litigation, and (c) any material adverse change in the financial condition of Borrower or any Guarantor. For purposes of the conditions stated in (a) through (c) in this Section 5.30, a “material adverse effect” or “material adverse change” shall be deemed to exist or have occurred when (1) there has been a decline of 15% or more in the tangible net worth of Borrower or any Guarantor as shown on the Financial Statements delivered to Lender in connection with the Loan or (2) actual sources and uses of funds for any twelve-month period adversely vary by 15% or more with the pro forma sources and uses of funds statement submitted for such period.
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Notice of Litigation, Claims, and Financial Change. Borrower shall promptly inform Lender of (a) any litigation against Borrower or Guarantor or affecting the Property, which, if determined adversely, might have a material adverse effect upon the financial condition of Borrower or Guarantor or upon the Property, or might cause an Event of Default, (b) any claim or controversy which might become the subject of such litigation, and (c) any material adverse change in the financial condition of Borrower or Guarantor.
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Notice of Litigation, Claims, and Financial Change. Borrower shall promptly inform Lender of (a) any litigation against Borrower or affecting the Property, which, if determined adversely, might have a material adverse effect upon the financial condition of Borrower or upon the Property, or might cause an Event of Default, (b) any claim or controversy which might become the subject of such litigation, and (c) any material adverse change in the financial condition of Borrower. For purposes hereof, a material adverse change shall be deemed to have occurred when (1) there has been a decline of fifteen percent (15%) or more in the tangible net worth of Borrower as shown on the Financial Statements delivered to Lender in connection with the Loan or (2) actual sources and uses of funds for any twelve-month period adversely vary by fifteen percent (15%) or more with the pro forma sources and uses of funds statement submitted for such period.
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Notice of Litigation, Claims, and Financial Change. Guarantor shall ------------------------------------------------- promptly inform BRACAMONTES of (a) any litixxxxxx xxxxnst Guarantor or affecting any security for the Indebtedness which, if determined adversely, might have a material adverse effect upon the financial condition of Guarantor or upon such security or might cause a default under any of the documents evidencing, securing or governing the Indebtedness, (b) any claim or controversy which might become the subject of such litigation, and (c) any material adverse change in the financial condition of Guarantor.
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Notice of Litigation, Claims, and Financial Change. Borrower shall timely respond to and inform Agent promptly, but no later than within five (5) Banking Days of receipt, of: (i) any litigation against Borrower or affecting the Property or Facility, or any such litigation known to Borrower involving any other party to any of the Loan Instruments or Project Documents which could have a material adverse effect upon the condition of Borrower or upon the Property or Facility or affect the ability of any other party to any of the Loan Instruments or Project Documents to perform its obligations thereunder or could cause an Event of Default; (ii) any claim or controversy which could become the subject of such litigation; (iii) any official notice or claim by any Governmental Authority received by Borrower or known to Borrower pertaining to the Property, the Facility, any of the Project Documents or any of the Loan Instruments having a material or substantial effect on any of the foregoing; (iv) any fire or other casualty or any notice of taking or eminent domain action or similar proceeding affecting the Property or Facility; and (v) any material adverse change in the financial condition of Borrower or, as soon as known by Borrower, of any other party to any of the Loan Instruments or Project Documents.
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Notice of Litigation, Claims, and Financial Change. Guarantors shall promptly inform Creditor of
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Notice of Litigation, Claims, and Financial Change. Borrower shall promptly inform Lender of (a) any litigation against Borrower or, to Borrower's knowledge, against any Guarantor or affecting the Property, which, if determined adversely, might have a material adverse effect upon the financial condition of Borrower or any Guarantor or upon the Property, or might cause an Event of Default, (b) any claim or controversy which might become the subject of such litigation, and (c) any material adverse change in the financial condition of Borrower or any Guarantor. For purposes hereof, material adverse change shall mean a decline of fifteen percent (15%) in the net worth of Borrower or any Guarantor as shown on the Financial Statements delivered to Lender from time to time during the term hereof in connection with the Loan.
Sample 1
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Notice of Litigation, Claims, and Financial Change. Borrower shall promptly inform Lender of (a) any litigation against Borrower or affecting the Property, which, if determined adversely, might have a material adverse effect upon the financial condition of Borrower or upon the Property, or might cause an Event of Default, (b) any claim or
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Notice of Litigation, Claims, and Financial Change. Borrower shall promptly inform Lender of (a) any litigation against Obligor or affecting the Mortgaged Properties, which, if determined adversely, might have a Material Adverse Change upon the financial condition of Obligor, or upon the Mortgaged Properties, or might cause an Event of Default, (b) any claim or controversy which might become the subject of such litigation, and (c) any Material Adverse Change in the financial condition of Borrower. Each Guarantor shall promptly inform Lender of (a) any litigation against such Guarantor, which, if determined adversely, might have a Material Adverse Change upon the financial condition of such Guarantor, or might cause an Event of Default, (b) any claim or controversy which might become the subject of such litigation, and (c) any Material Adverse Change in the financial condition of such Guarantor.
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Related to Notice of Litigation, Claims, and Financial Change

  • Notice of Litigation Each Seller shall promptly notify the applicable Purchaser upon becoming aware of any Proceedings or threatened Proceedings concerning any Serviced Appointment, in each case, excluding Proceedings in servicer-managed mortgage-level litigation with respect to residential mortgage-backed securities transactions. Notices delivered pursuant to this Section 5.4 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.

  • Defense of Litigation To appear in and defend any action or proceeding that may affect its title to or Secured Party’s interest in the Collateral.

  • Control of Litigation The Parties agree and acknowledge that Sellers shall be entitled exclusively to control, defend and settle any litigation, administrative or regulatory proceeding, and any investigation or other activities arising out of or related to any Excluded Liabilities and Buyer agrees to cooperate with Sellers in connection therewith.

  • Notices of Claims and Litigation Promptly inform Lender in writing of (1) all material adverse changes in Borrower’s financial condition, and (2) all existing and all threatened litigation, claims, investigations, administrative proceedings or similar actions affecting Borrower or any Guarantor which could materially affect the financial condition of Borrower or the financial condition of any Guarantor.

  • Notification of litigation The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

  • Claims and Litigation No pending or, to the Company's knowledge, threatened, claims, suits or other proceedings exist with respect to any Employee Benefit Plan other than normal benefit claims filed by participants or beneficiaries.

  • 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.

  • Settlement of Litigation 8.7.1.2 Determination by the Licensing Administrator of back royalties owed by a licensee, including any determination made by the Licensing Administrator pursuant to Section 3.5.4;

  • Certain Litigation Matters The Owner Trustee shall provide prompt written notice to the Depositor, the Seller and the Servicer of any action, proceeding or investigation known to the Owner Trustee that could reasonably be expected to adversely affect the Trust or the Owner Trust Estate.

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