NOTICE OF LITIGATION, DEFAULT Sample Clauses

NOTICE OF LITIGATION, DEFAULT. The Company will promptly give notice to the Investor of any litigation, investigations, or any administrative proceeding to which the Company or any of its Subsidiaries may hereafter become a party or are subject that, after giving effect to applicable insurance, may result in any material adverse change in the business, assets, or financial condition of the Company or its Subsidiaries. Forthwith upon any officer of the Company's obtaining knowledge of any Default or Event of Default hereunder or any exhibit hereto, any default or event of default under any other Financing Agreement, any Related Agreement, or any agreement relating to any Indebtedness of the Company or any of its Subsidiaries for borrowed money, or any material adverse change in the Company's or any Subsidiary's business, properties, assets, or condition, financial or otherwise, the Company will furnish a notice specifying the nature and period of existence thereof and what action the Company has taken, is taking or proposes to take with respect thereto. Promptly after the receipt thereof, the Company will provide the Investor with copies of any reports upon adequacies and inadequacies in accounting controls submitted to the Company by its independent accountants.
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NOTICE OF LITIGATION, DEFAULT. Borrower and each other Credit Party shall inform Lender in writing (a) promptly of any and all litigation, against Borrower or any other Credit Party brought by any Person, partnership or entity or in which Borrower or any other Credit Party are involved, in each case, in which the damages asserted in the petition or complaint exceed $50,000, and which is not adequately covered by insurance and (b) immediately upon the occurrence of any Default.
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Related to NOTICE OF LITIGATION, DEFAULT

  • Termination; Default If Contractor is in default of any of its obligations under this Contract and has not commenced cure within ten days after receipt of a written notice of default from County and cured such default within the time specified in the notice, the County shall immediately be entitled to either commence resolution in accordance with this paragraph or to terminate this Contract by giving written notice to take effect immediately. Default shall include failure to carry out any of the requirements of this Contract, including, but not limited to not providing enough properly skilled workers or proper materials, persistently disregarding laws and or ordinances, not proceeding with the work as agreed to herein, or otherwise substantially violating any provision of this Contract. Upon termination of the Contract with Contractor, the County may begin negotiations with a third-party Contractor to provide goods and/or services as specified in this Contract. The right of either party to terminate this Contract hereunder shall not be affected in any way by its waiver of or failure to take action with respect to any previous default.

  • Reservation Default Failure by the Borrower to have reserve for issuance upon conversion of the Note the amount of Common stock as set forth in the Subscription Agreement.

  • Rights on Default On the occurrence of an Event of Default, we may exercise our rights under this clause, except that in the case of the occurrence of any Event of Default specified in Clause 14.2 or Clause 14.3 of the definition of Events of Default (each a “Bankruptcy Default”), the automatic termination provision of this clause shall apply.

  • Upon Default Landlord shall have the right to pursue any one or more of the following remedies:

  • Termination on Default The Authority may terminate this Framework Agreement by serving written notice on the Supplier with effect from the date specified in such notice where the Supplier commits a Material Default and if:

  • Notice of Claimed Default Promptly upon becoming aware that the holder of any material obligation or of any other evidence of material Indebtedness of Borrower or Guarantor has given notice or taken any other action with respect to a claimed default or event of default thereunder, a written notice specifying the notice given or action taken by such holder and the nature of the claimed default or event of default and what action the Borrower or Guarantor are taking or proposes to take with respect thereto.

  • Registration Default If (A) the Registration Statement is not filed on or before the Filing Deadline or declared effective by the Commission on or before the Registration Deadline, (B) after the Registration Statement has been declared effective by the Commission and during a period in which an Allowed Delay (as hereinafter defined) is not in effect, sales of Registrable Securities cannot be made by a Holder under the Registration Statement for any reason not within the exclusive control of such Holder (other than such Registrable Securities as are then freely saleable pursuant to Rule 144(k)), or (C) an amendment to the Registration Statement, or a new registration statement, required to be filed pursuant to the terms of paragraph 4(k) below is not filed on or before the date required by such paragraph (each of (A), (B) and (C) being referred to herein as a "Registration Default"), and such Registration Default, (i) in the case of a Registration Default described in clause (A), occurs or is continuing after seven (7) business days following delivery of a written notice of the Registration Deadline by Investor at any time after the date that is thirty (30) days prior to the Registration Deadline, or (ii) in the case of a Registration Default described in clause (B), or clause (C), continues for seven (7) business days following delivery of a written notice of such default by the Investor to the Company, the Company shall make payments to each Holder equal to one and one-half percent (1.5%) of the aggregate amount of principal and interest outstanding on the Debentures then held by such Holder for each thirty (30) day period in which a Registration Default occurs (prorated for any period of less than thirty days). Each such payment shall be made within five (5) Business Days following the last day of the calendar month in which a Registration Default occurs. Any such payment shall be in addition to any other remedies available to each Holder at law or in equity, whether pursuant to the terms hereof, the Securities Purchase Agreement, or otherwise.

  • Action Upon Default Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from a Borrower or Required Lenders specifying the occurrence and nature thereof. If a Lender acquires knowledge of a Default, Event of Default or failure of such conditions, it shall promptly notify Agent and the other Lenders thereof in writing. Each Secured Party agrees that, except as otherwise provided in any Loan Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations (other than Secured Bank Product Obligations) or assert any rights relating to any Collateral.

  • Registration Defaults If any of the following events shall occur, then the Company shall pay liquidated damages (the “Registration Default Damages”) to the Holders of Securities in respect of the Securities as follows:

  • Remedies on Default Whenever an Event of Default shall have happened and be subsisting, either or both of the following remedial steps may be taken:

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