Notice of Litigation, Defaults, etc. Promptly after any Financial Officer acquires knowledge thereof, the Company shall furnish to the Lenders notice of any litigation or any administrative or arbitration proceeding (a) which creates a material risk of resulting, after giving effect to any applicable insurance, in the payment by the Company and its Subsidiaries of more than $500,000 or (b) which results, or creates a material risk of resulting, in a Material Adverse Change. Promptly after any Financial Officer acquires knowledge thereof, the Company shall notify the Lenders of the existence of any Default or Material Adverse Change, specifying the nature thereof and what action the Company or any Subsidiary has taken, is taking or proposes to take with respect thereto.
Notice of Litigation, Defaults, etc. The Company will promptly give notice to each Qualified Purchaser of any litigation or any administrative proceeding to which the Company or any of its Subsidiaries may hereafter become a party which may result in a Material Adverse Effect on the Company or any of its Subsidiaries. Forthwith upon any officer of the Company obtaining knowledge of any material default under a material agreement or any default or event of default under this Agreement or any Related Agreement, the Company will furnish a notice specifying the nature and period of existence thereof, what action the Company has taken, is taking or proposes to take with respect thereto. Promptly after the receipt thereof, the Company will provide copies of any reports as to adequacies in accounting controls submitted by independent accountants with respect to the Company and its Subsidiaries.
Notice of Litigation, Defaults, etc. The Borrower shall promptly furnish to the Lenders notice of any litigation or any administrative or arbitration proceeding (a) which creates a material risk of resulting, after giving effect to any applicable insurance, in the payment by the Borrower and its Subsidiaries of more than $500,000 or (b) which results, or creates a material risk of resulting, in a Material Adverse Change. Promptly upon acquiring knowledge thereof, the Borrower shall notify the Lenders of the existence of any Default or Material Adverse Change, specifying the nature thereof and what action the Borrower or any of its Subsidiaries has taken, is taking or proposes to take with respect thereto.
Notice of Litigation, Defaults, etc. The Company will promptly, and in any event within five (5) days after the Company has Knowledge of such event, give written notice to each Majority Purchaser of (a) any litigation or any administrative proceeding commenced or threatened against the Company or any of its Subsidiaries which is reasonably likely to result in a charge against income in excess of $25,000 (after giving effect to applicable insurance) or if adversely determined would be reasonably likely to have a Material Adverse Effect, (b) any resignation of or other change in executive management of the Company or any serious illness of any member of such executive management, and (c) any offers to purchase a majority (or greater) interest in the Company or any of its Subsidiaries (whether by means of purchase of securities or assets or otherwise). The Company will promptly, and in any event within three (3) days after any officer of the Company or any of its Subsidiaries (if any) obtains knowledge of any material default under or violation of this Agreement or any other Transaction Document, furnish notice to each Purchaser specifying the nature of such default or violation and stating the
Notice of Litigation, Defaults, etc. The Company will promptly give notice to each holder of Series A Preferred Stock of any litigation or any administrative proceeding to which the Company or any of its Subsidiaries may hereafter become a party which, after giving effect to applicable insurance, may result in any adverse change in the business, assets, prospects or financial condition of the Company and its Subsidiaries taken as a whole. Forthwith upon any officer of the Company obtaining knowledge of any Default or Event of Default hereunder or any default or event of default under any Related Agreement or any agreement relating to any Indebtedness of the Company or any of its Subsidiaries for borrowed money, the Company will furnish a notice specifying the nature and period of existence thereof and what action the Company or any of its Subsidiaries has taken, is taking or proposes to take with respect thereto.
Notice of Litigation, Defaults, etc. The Borrowers will promptly ----------------------------------- furnish to the Lenders notice of any litigation or any administrative or arbitration proceeding (a) which creates a material risk of resulting, after giving effect to any applicable insurance, in the payment by any Obligor of more than $5,000,000, or (b) which has, or creates a material risk of having, a Material Adverse Effect. Promptly upon acquiring knowledge thereof, the Borrowers will notify the Lenders of the existence of any Default or event which creates a material risk of a Material Adverse Effect, specifying the nature thereof and what action the Borrowers have taken, are taking or propose to take with respect thereto.
Notice of Litigation, Defaults, etc. Each of the Borrowers shall promptly furnish to the Lenders notice of any litigation or any administrative or arbitration proceeding (a) which creates a material risk of resulting, after giving effect to any applicable insurance, in the payment by any Borrower or any of its Subsidiaries of more than $750,000 or (b) which results, or creates a material risk of resulting, in a Material Adverse Change. Within five Banking Days after acquiring knowledge thereof, such Borrower shall notify the Lenders of the existence of any Default or Material Adverse Change, specifying the nature thereof and what action the Company, such Borrower or such Subsidiary has taken, is taking or proposes to take with respect thereto.
Notice of Litigation, Defaults, etc. Each of the Borrower and its Subsidiaries shall promptly furnish to the Agent notice of any litigation or any administrative or arbitration proceeding including the impanneling of a grand jury, (a) which creates a material risk of resulting, after giving effect to any applicable insurance, in the payment by the Borrower or any of its Subsidiaries of more than $100,000 or (b) which results, or creates a material risk of resulting, in a Material Adverse Change. Within five Banking Days after acquiring knowledge thereof, the Borrower shall notify the Lenders of the existence of any Default or Material Adverse Change, specifying the nature thereof and what action the Borrower or such Subsidiary has taken, is taking or proposes to take with respect thereto.
Notice of Litigation, Defaults, etc. The Company will promptly, and in any event within 10 days after the Company has knowledge of such event, give written notice to each Principal Holder of (a) any litigation or any administrative proceeding to which it or any of its Subsidiaries may hereafter become a party which after giving effect to applicable insurance is reasonably likely to result in a charge against income in excess of $25,000, (b) any resignation of or other change in executive management of the Company or any serious illness of any member of such executive management, and (c) any offers to purchase a majority (or greater) interest in the Company (whether by means of purchase of securities or assets or otherwise). The Company will promptly, and in any event within three days after any executive officer of the Company or any of its Subsidiaries obtains knowledge of any Remedy Event or material default by the Company under this Agreement, any other Investor Agreement or any other Contractual Obligation, furnish notice to each Principal Holder specifying the nature of such Remedy Event or material default and stating the action the Company has taken or proposes to take with respect thereto. Promptly after the receipt thereof, the Company will furnish to each Principal Holder copies of any reports as to inadequacies in accounting controls submitted by independent accountants.
Notice of Litigation, Defaults, etc. The Company shall promptly furnish to the Purchaser notice of any event, condition or circumstance (including any litigation or any administrative or arbitration proceeding)) that could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. Promptly upon acquiring knowledge thereof, the Company shall notify the Noteholder of the existence of any Default or Material Adverse Effect, specifying the nature thereof and what action the Company has taken, is taking or proposes to take with respect thereto.
