Notice of Litigation, Defaults, and Other Material Events Sample Clauses

Notice of Litigation, Defaults, and Other Material Events. Notice, promptly after any Company or Guarantor receives notice of, or otherwise becomes aware of, (i) the institution of any Litigation involving any Company or Guarantor for which the monetary amount at issue is greater than $100,000, individually, or $300,000 in the aggregate, (ii) the institution of any Litigation involving any Company or Guarantor which seeks equitable or injunctive relief, (iii) any liability or alleged liability under any Environmental Law arising out of, or directly affecting, the properties or operations of such Company, or any Guarantor, (iv) any substantial dispute with any Governmental Authority, (v) the incurrence of any material contingent Debt, (vi) any Company’s execution of a Material Agreement (or any Company’s agreement to execute a Material Agreement), (vii) any material change in respect of any Collateral or any default by any Company in respect of any Collateral, (viii) any claim, action or proceeding challenging a Lien granted by a Company to Lender or affecting title to all or any material portion of the Collateral, and (ix) a Default or Potential Default, specifying the nature thereof and what action each Company or Guarantor has taken, is taking, or proposes to take.
Sample 1
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Notice of Litigation, Defaults, and Other Material Events. (ii) The occurrence of any Default;
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Notice of Litigation, Defaults, and Other Material Events. Notice, promptly after any Company receives written notice of, or otherwise obtains actual knowledge of, (i) the institution of any Litigation involving any Company for which the monetary amount at issue is greater than $1,000,000, individually, or $2,500,000 in the aggregate, (ii) the institution of any Litigation involving any Company which seeks equitable or injunctive relief, (iii) any liability or alleged liability under any Environmental Law arising out of, or directly affecting, the properties or operations of such Company, or any Guarantor which would reasonably be expected to result in a Material Adverse Effect, (iv) any substantial dispute with any Governmental Authority which would reasonably be expected to result in a Material Adverse Effect, (v) the occurrence of any Material Adverse Event, (vi) any claim, action or proceeding challenging an Lien granted by a Company to Lender or affecting title to all or any material portion of the Collateral, and (vii) a Default specifying the nature thereof and what action each Company has taken, is taking, or proposes to take.
Sample 1
Notice of Litigation, Defaults, and Other Material Events. Written notice, promptly after any Loan Party receives notice of, or otherwise becomes aware of, (i) the institution of any Litigation involving any Loan Party or any Subsidiary of any Company for which the monetary amount at issue is greater than $5,000,000, (ii) the institution of any Litigation involving any Loan Party which seeks equitable or injunctive relief which if adversely determined could reasonably be expected to result in a Material Adverse Event, (iii) any liability or alleged liability under any Environmental Law arising out of, or directly affecting, the properties or operations of any Company, which could reasonably be expected to result in a Material Adverse Effect, (iv) any claim, action or proceeding challenging a Lien granted by a Loan Party to Collateral Agent or affecting title to all or any material portion of the Collateral, (v) the occurrence of any ERISA Event under, or the institution of steps by any Company to withdraw from, or the institution of any steps to terminate, any employee benefit plan as to which any Company may have any liability that could reasonably be expected to result in a Material Adverse Effect, (vi) the occurrence of any event, the institution of any claim, or the incurrence of any contingent liability that could reasonably be expected to result in a Material Adverse Event, (vii) any violation or alleged violation by a Governmental Authority in writing violation of any Specified Law, and (viii) a Default or Potential Default, specifying the nature thereof and what action each Loan Party or any Subsidiary of any Company has taken, is taking, or proposes to take with respect thereto.
Sample 1

Related to Notice of Litigation, Defaults, and Other Material Events

  • Notice of Litigation and Other Matters Prompt (but in no event later than ten (10) days after an officer of the Borrower obtains knowledge thereof) telephonic and written notice of:

  • Notification of Defaults and Events of Default Each Lender hereby agrees that, upon learning of the existence of a Default or an Event of Default, it shall promptly notify the Administrative Agent thereof. The Administrative Agent hereby agrees that upon receipt of any notice under this §14.10 it shall promptly notify the other Lenders of the existence of such Default or Event of Default.

  • 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.

  • Notices of Events of Default As promptly as practicable after, and in any event within 30 days after, the occurrence of any Event of Default actually known to the Trustee, the Trustee shall give notice of such Event of Default to the Depository, or, if any Certificates are not then held by DTC or any other depository, directly to the registered holders of such Certificates, and to the Warrant Agent. However, except in the case of an Event of Default relating to the payment of principal of or interest on any of the Underlying Securities, the Trustee will be protected in withholding such notice if in good faith it determines that the withholding of such notice is in the interest of the Certificateholders.

  • Notice of Defaults and Events of Default As soon as possible and in any event within ten (10) days after the occurrence of each Default or Event of Default, a written notice setting forth the details of such Default or Event of Default and the action which is proposed to be taken by the Borrower with respect thereto;

  • Notice of Events of Default The Issuer shall give a Responsible Officer of the Indenture Trustee and each Rating Agency prompt written notice of each Event of Default hereunder and each default on the part of the Servicer or the Seller of its obligations under the Sale and Servicing Agreement.

  • Notices of Material Events The Borrower will furnish to the Administrative Agent and each Lender prompt written notice of the following:

  • Waiver of Defaults and Events of Default (a) The Noteholders of a majority of the Note Balance of the Controlling Class may waive any Default or Event of Default, except an Event of Default (i) in the payment of principal of or interest on any of the Notes (other than an Event of Default relating to failure to pay principal due only by reason of acceleration) or (ii) in respect of a covenant or provision of this Indenture that cannot be amended, supplemented or modified without the consent of all Noteholders.

  • Events of Default and Termination Events (i) The following provisions of Section 5 will not apply to either Party A or Party B: Section 5(a)(ii) Section 5(a)(iii) Section 5(a)(iv) Section 5(a)(v) Section 5(a)(vi) Section 5(b)(iii) Section 5(b)(iv)

  • Waiver of Past Defaults and Events of Default Subject to Sections 6.02, 6.08 and 8.02, the Holders of a majority in aggregate principal amount of the Notes then outstanding have the right to waive any existing Default or compliance with any provision of this Indenture or the Notes. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereto.

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