Common use of Notice of Material Event Clause in Contracts

Notice of Material Event. Borrower shall give Lender prompt notice (containing reasonable detail) of (i) any material change in the financial or physical condition of any of the Properties taken as a whole, as reasonably determined by Borrower, including the termination or cancellation of any Major Lease, the termination or cancellation of terrorism or other insurance required by this Agreement, the exercise of shedding, contraction or termination rights under any Lease which Lease covers in excess of 125,000 rentable square feet or the accrual of such rights by any Tenant under any Lease which Lease covers in excess of 125,000 rentable square feet, (ii) any litigation or governmental proceedings pending or threatened in writing against any Borrower which is reasonably likely to have a Portfolio Material Adverse Effect, (iii) any notice by a lender asserting an event of default by an Encumbered Property Owner or any of its Affiliates under any Encumbered Property Debt Documents, (iv) any notice by Junior Mezzanine Lender of a Junior Mezzanine Loan Event of Default and (v) any correspondence with Tenants under Major Leases with respect to any alleged defaults by either party thereunder.

Notice of Material Event. Borrower shall give Lender prompt notice (containing reasonable detail) of (i) any material change in the financial or physical condition of any of the Properties taken as a whole, as reasonably determined by Borrower, including the termination or cancellation of any Major Lease, the termination or cancellation of terrorism or other insurance required by this Agreement, the exercise of shedding, contraction or termination rights under any Lease which Lease covers in excess of 125,000 rentable square feet or the accrual of such rights by any Tenant under any Lease which Lease covers in excess of 125,000 rentable square feet, (ii) any litigation or governmental proceedings pending or threatened in writing against Borrower or any Senior Mezzanine Borrower which is reasonably likely to have a Portfolio Material Adverse Effect, (iii) any notice by a lender asserting an event of default by an Encumbered Property Owner or any of its Affiliates under any Encumbered Property Debt Documents, (iv) any notice by Junior Senior Mezzanine Lender of a Junior Senior Mezzanine Loan Event of Default and (v) any correspondence with Tenants under Major Leases with respect to any alleged defaults by either party thereunder.

Notice of Material Event. Borrower shall give Lender prompt notice (containing reasonable detail) of (i) any material change in the financial or physical condition of any of the Properties taken as a whole, as reasonably determined by Borrower, including the termination or cancellation of any Major Lease, the termination or cancellation of terrorism or other insurance required by this Agreement, the exercise of shedding, contraction or termination rights under any Lease which Lease covers in excess of 125,000 rentable square feet or the accrual of such rights by any Tenant under any Lease which Lease covers in excess of 125,000 rentable square feet, (ii) any litigation or governmental proceedings pending or threatened in writing against any Borrower which is reasonably likely to have a Portfolio Material Adverse Effect, (iii) any notice by a lender asserting an event of default by an Encumbered Property Owner or any of its Affiliates under any Encumbered Property Debt Documents, and (iv) any notice by Junior Mezzanine Lender of a Junior Mezzanine Loan Event of Default and (v) any correspondence with Tenants under Major Leases with respect to any alleged defaults by either party thereunder.