Common use of Notices of Litigation and Defaults Clause in Contracts

Notices of Litigation and Defaults. Borrowers will give prompt written notice to Agent (a) of any litigation or governmental proceedings pending or threatened (in writing) against Borrowers or other Credit Party which would reasonably be expected to have a Material Adverse Effect or which in any manner calls into question the validity or enforceability of any Financing Document, (b) upon any Credit Party becoming aware of the existence of any Default or Event of Default, (c) if any Borrower is in breach or default under or with respect to any Material Contract, or if any Credit Party is in breach or default under or with respect to any other contract, agreement, lease or other instrument to which it is a party or by which its property is bound or affected, which breach or default could reasonably be expected to have a Material Adverse Effect, (d) of any strikes or other labor disputes pending or, to any Borrower’s knowledge, threatened against any Borrower or otherwise affecting any Project and (e) of all returns, recoveries, disputes and claims that could reasonably be expected to involve liability of more than $500,000 with respect to any Borrower or are with respect to Parent and could reasonably be expected to have a Material Adverse Effect. Borrowers represent and warrant that Schedule 3.6 sets forth a complete list of all matters existing as of the Closing Date for which notice could be required under this Section and all litigation or governmental proceedings pending or threatened (in writing) against Borrowers or other Credit Party as of the Closing Date that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit and Security Agreement (Skilled Healthcare Group, Inc.)

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Notices of Litigation and Defaults. Borrowers Credit Parties will give prompt written notice to Agent (a) of any litigation or governmental proceedings pending or threatened (in writing) against Borrowers Credit Parties or other Credit Party which would reasonably be expected to have a Material Adverse Effect with respect to Credit Parties or any other Credit Party or which in any manner calls into question the validity or enforceability of any Financing Document, (b) upon any Credit Party becoming aware of the existence of any Default or Event of Default, (c) if any Borrower Credit Party is in breach or default under or with respect to any Material Contract, or if any Credit Party is in breach or default under or with respect to any other contract, agreement, lease or other instrument to which it is a party or by which its property is bound or affected, which breach or default in each case or in the aggregate could reasonably be expected to have a Material Adverse Effect, (d) of any strikes or other labor disputes pending or, to any Borrower’s knowledge, threatened against any Borrower Credit Party, (e) if there is any infringement or otherwise affecting claim of infringement by any Project other Person with respect to any Intellectual Property rights of any Credit Party that could reasonably be expected to have a Material Adverse Effect, or if there is any claim by any other Person that any Credit Party in the conduct of its business is infringing on the Intellectual Property Rights of others, and (ef) of all returns, recoveries, disputes and claims that could reasonably be expected to involve liability of more than $500,000 with respect to any Borrower or are with respect to Parent and could reasonably be expected to have a Material Adverse Effect100,000. Borrowers Credit Parties represent and warrant that Schedule 3.6 4.9 sets forth a complete list of all matters existing as of the Closing Date for which notice could be required under this Section and all litigation or governmental proceedings pending or threatened (in writing) against Borrowers Credit Parties or other Credit Party as of the Closing Date that, individually or in the aggregate, could reasonably be expected to have a Material Adverse EffectDate.

Appears in 1 contract

Samples: Credit and Security Agreement (Staffing 360 Solutions, Inc.)

Notices of Litigation and Defaults. Borrowers will give prompt written notice to Agent (a) of any litigation or governmental proceedings pending or threatened (in writing) against Borrowers or other Credit Party which would reasonably be expected to have a Material Adverse Effect with respect to Borrowers or any other Credit Party or which in any manner calls into question the validity or enforceability of any Financing Document, (b) upon any Credit Party Borrower becoming aware of the existence of any Default or Event of Default, (c) if any Borrower Credit Party is in breach or default under or with respect to any Material Contract, or if any Credit Party is in breach or default under or with respect to any other contract, agreement, lease or other instrument to which it is a party or by which its property is bound or affected, which breach or default could reasonably be expected to have a Material Adverse Effect, (d) of any strikes or other labor disputes pending or, to any Borrower’s knowledge, threatened against any Borrower Credit Party, (e) if there is any infringement or otherwise affecting claim of infringement by any Project other Person with respect to any Intellectual Property rights of any Credit Party that could reasonably be expected to have a Material Adverse Effect, or if there is any claim by any other Person that any Credit Party in the conduct of its business is infringing on the Intellectual Property Rights of others, and (ef) of all returns, recoveries, disputes and claims that could reasonably be expected to involve liability of more than $500,000 with respect to any Borrower or are with respect to Parent and could reasonably be expected to have a Material Adverse Effect100,000. Borrowers represent and warrant that Schedule 3.6 4.9 sets forth a complete list of all matters existing as of the Closing Date for which notice could be required under this Section and all litigation or governmental proceedings pending or threatened (in writing) against Borrowers or other Credit Party as of the Closing Date that, individually or in the aggregate, could reasonably be expected to have a Material Adverse EffectDate.

Appears in 1 contract

Samples: Credit and Security Agreement (Appliance Recycling Centers of America Inc /Mn)

Notices of Litigation and Defaults. Borrowers will give prompt written notice to Agent (a) of any litigation or governmental proceedings pending or threatened (in writing) against Borrowers or other Credit Party which would reasonably be expected to have a Material Adverse Effect or which in any manner calls into question the validity or enforceability of any Financing Document, (b) upon any Credit Party becoming aware of the existence of any Default or Event of Default, (c) if any Borrower is in breach or default under or with respect to any Material Contract, or if any Credit Party is in breach or default under or with respect to any other contract, agreement, lease or other instrument to which it is a party or by which its property is bound or affected, which breach or default could reasonably be expected to have a Material Adverse Effect, (d) of any strikes or other labor disputes pending or, to any Borrower’s knowledge, threatened against any Borrower or Operator or otherwise affecting any Project Project, and (e) of all returns, returns recoveries, disputes and claims that could reasonably be expected to involve liability of more than $500,000 with respect to any Borrower or any Operator or are with respect to Parent and could reasonably be expected to have a Material Adverse Effect. Borrowers represent and warrant that Schedule 3.6 sets forth a complete list of all matters existing as of the Closing Date for which notice could be required under this Section and all litigation or governmental proceedings pending or threatened (in writing) against Borrowers or other Credit Party as of the Closing Date that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit and Security Agreement (Skilled Healthcare Group, Inc.)

Notices of Litigation and Defaults. Borrowers will give prompt written notice to Agent (a) of any litigation or governmental proceedings pending or threatened (in writing) against Borrowers or other Credit Party which would reasonably be expected to have a Material Adverse Effect with respect to Borrowers or any other Credit Party or which in any manner calls into question the validity or enforceability of any Financing Document, (b) upon any Credit Party Borrower becoming aware of the existence of any Default or Event of Default, (c) if any Borrower Credit Party is in breach or default under or with respect to any Material Contract, or if any Credit Party is in breach or default under or with respect to any other contract, agreement, lease or other instrument to which it is a party or by which its property is bound or affected, which breach or default could reasonably be expected to have a Material Adverse Effect, (d) of any strikes or other labor disputes pending or, to any Borrower’s knowledge, threatened against any Borrower Credit Party, (e) if there is any infringement or otherwise affecting claim of infringement by any Project other Person with respect to any Intellectual Property rights of any Credit Party that could reasonably be expected to have a Material Adverse Effect, or if there is any claim by any other Person that any Credit Party in the conduct of its business is infringing on the Intellectual Property Rights of others, and (ef) of all returns, recoveries, disputes and claims that could reasonably be expected to involve liability of more than $500,000 with respect to any Borrower or are with respect to Parent and could reasonably be expected to have a Material Adverse Effect250,000. Borrowers represent and warrant that Schedule 3.6 4.9 sets forth a complete list of all matters existing as of the Restatement Closing Date for which notice could be required under this Section and all litigation or governmental proceedings pending or threatened (in writing) against Borrowers or other Credit Party as of the Restatement Closing Date that, individually or in the aggregate, could reasonably be expected to have a Material Adverse EffectDate.

Appears in 1 contract

Samples: Credit Agreement (Pernix Therapeutics Holdings, Inc.)

Notices of Litigation and Defaults. Borrowers will give prompt written notice to Agent (a) of any litigation or governmental proceedings pending or threatened (in writing) against Borrowers or any other Credit Party which would reasonably be expected to have a Material Adverse Effect or which in any manner calls into question the validity or enforceability of any Financing Document, (b) upon any Credit Party Borrower becoming aware of the existence of any Default or Event of Default, (c) if any Borrower Credit Party is in breach or default under or with respect to any Material Contract, or if any Credit Party is in breach or default under or with respect to any other contract, agreement, lease or other instrument to which it is a party or by which its property is bound or affected, which breach or default could would reasonably be expected to have a Material Adverse Effect, (d) of any strikes or other labor disputes pending or, to any Borrower’s 's knowledge, threatened against any Borrower or otherwise affecting any Project Subsidiary, (e) if there is any infringement or claim of infringement by any other Person with respect to any Intellectual Property rights of any Credit Party that would reasonably be expected to have a Material Adverse Effect, or if there is any claim by any other Person that any Credit Party in the conduct of its business is infringing on the Intellectual Property Rights of others, and (ef) of all returns, recoveries, disputes and claims that could reasonably be expected to involve liability of more than $500,000 with respect to any Borrower or are with respect to Parent and could reasonably be expected to have a Material Adverse Effect500,000. Borrowers represent and warrant that Schedule 3.6 4.9 sets forth a complete list of all matters existing as of the Closing Date for which notice could would be required under this Section and all litigation or governmental proceedings pending or threatened (in writing) against Borrowers or any other Credit Party as of the Closing Date that, individually or in the aggregate, could reasonably be expected to have a Material Adverse EffectDate.

Appears in 1 contract

Samples: Credit Agreement (Steel Connect, Inc.)

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Notices of Litigation and Defaults. Borrowers will give prompt written notice to Agent (a) of any litigation or governmental proceedings pending or threatened (in writing) against Borrowers or other Credit Party which would reasonably be expected to have a Material Adverse Effect with respect to Borrowers or any other Credit Party or which in any manner calls into question the validity or enforceability of any Financing Document, (b) upon any Credit Party Borrower becoming aware of the existence of any Default or Event of Default, (c) if any Borrower Credit Party is in breach or default under or with respect to any Material Contract, or if any Credit Party is in breach or default under or with respect to any other contract, agreement, lease or other instrument to which it is a party or by which its property is bound or affected, which breach or default could reasonably be expected to have a Material Adverse Effect, (d) of any strikes or other labor disputes pending or, to any Borrower’s knowledge, threatened against any Borrower Credit Party, (e) if there is any infringement or otherwise affecting claim of infringement by any Project other Person with respect to any Intellectual Property rights of any Credit Party that could reasonably be expected to have a Material Adverse Effect, or if there is any claim by any other Person that any Credit Party in the conduct of its business is infringing on the Intellectual Property Rights of others, and (ef) of all returns, recoveries, disputes and claims that could reasonably be expected to involve liability of more than $500,000 with respect to any Borrower or are with respect to Parent and could reasonably be expected to have a Material Adverse Effect250,000. Borrowers represent and warrant that Schedule 3.6 4.9 sets forth a complete list of all matters existing as of the Closing Date for which notice could be required under this Section and all litigation or governmental proceedings pending or or, to such Borrower’s knowledge, threatened (in writing) against Borrowers or other Credit Party as of the Closing Date that, individually or in the aggregate, could reasonably be expected to have a Material Adverse EffectDate.

Appears in 1 contract

Samples: Credit and Security Agreement (University General Health System, Inc.)

Notices of Litigation and Defaults. Borrowers Credit Parties will give prompt written notice to Agent (a) of any litigation or governmental proceedings pending or threatened (in writing) against Borrowers or other Credit Party Parties which would reasonably be expected to have a Material Adverse Effect with respect to Credit Parties or which in any manner calls into question the validity or enforceability of any Financing Document, (b) upon any Credit Party becoming aware of the existence of any Default or Event of Default, (c) if any Borrower Credit Party is in breach or default under or with respect to any Material Contract, or if any Credit Party is in breach or default under or with respect to any other contract, agreement, lease or other instrument to which it is a party or by which its property is bound or affected, which breach or default could reasonably be expected to have a Material Adverse Effect, (d) of any strikes or other labor disputes pending or, to any BorrowerCredit Party’s knowledge, threatened against any Borrower Credit Party, (e) if there is any infringement or otherwise affecting claim of infringement by any Project other Person with respect to any Intellectual Property rights of any Credit Party that could reasonably be expected to have a Material Adverse Effect, or if there is any claim by any other Person that any Credit Party in the conduct of its business is infringing on the Intellectual Property Rights of others, and (ef) of all returns, recoveries, disputes and claims that could reasonably be expected to involve liability of more than $500,000 with respect to any Borrower or are with respect to Parent and could reasonably be expected to have a Material Adverse Effect250,000. Borrowers Credit Parties represent and warrant that Schedule 3.6 4.9 sets forth a complete list of all matters existing as of the Closing Date for which notice could be required under this Section 4.9 and all litigation or governmental proceedings pending or threatened (in writing) against Borrowers or other Credit Party Parties as of the Closing Date that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.Date. Section 4.10

Appears in 1 contract

Samples: Credit and Security Agreement (Kewaunee Scientific Corp /De/)

Notices of Litigation and Defaults. Borrowers will give prompt written notice to Agent (a) of any litigation or governmental proceedings pending or threatened (in writing) against Borrowers or other Credit Party which would reasonably be expected to have a Material Adverse Effect with respect to Borrowers or any other Credit Party or which in any manner calls into question the validity or enforceability of any Financing Document, (b) upon any Credit Party Borrower becoming aware of the existence of any Default or Event of Default, (c) if any Borrower is in breach or default under or with respect to any Material ContractBorrower’s knowledge, or if any Credit Party is in breach or default under or with respect to (i) any Material Contract or (ii) any other contract, agreement, lease or other instrument to which it is a party or by which its property is bound or affected, which breach or default could reasonably be expected to have a Material Adverse Effect, (d) of any strikes or other labor disputes pending or, to any Borrower’s knowledge, threatened against any Borrower Credit Party, (e) if there is any infringement or otherwise affecting claim of infringement by any Project other Person with respect to any Intellectual Property rights of any Credit Party that could reasonably be expected to have a Material Adverse Effect, and (ef) of all returns, recoveries, disputes and claims that could reasonably be expected to involve liability of more than $500,000 with respect to any Borrower or are with respect to Parent and could reasonably be expected to have a Material Adverse Effect500,000. Borrowers represent and warrant that Schedule 3.6 4.9 sets forth a complete list of all matters existing as of the Closing Date for which notice could be required under this Section and all litigation or governmental proceedings pending or threatened (in writing) against Borrowers or other Credit Party as of the Closing Date that, individually or in the aggregate, could reasonably be expected to have a Material Adverse EffectDate.

Appears in 1 contract

Samples: Credit and Security Agreement (Goodman Networks Inc)

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