Common use of Notices to Agent and Lenders Clause in Contracts

Notices to Agent and Lenders. Borrower shall notify Agent in writing: (1) promptly but not later than 10 days after Borrower learns thereof, of the commencement of any litigation affecting Borrower or any of its real or personal property in which the amount in controversy exceeds $75,000, whether or not the claim is considered by Borrower to be covered by insurance, and of the institution of any administrative proceeding which may have a Material Adverse Effect; (2) at least thirty (30) days prior thereto, of Borrower’s opening of any new office or place of business or Borrower’s closing of any existing office or place of business where Collateral will be located; (3) promptly but not later than 10 days after Borrower learns thereof, of any labor dispute to which Borrower may become a party, any strikes or walkouts relating to any of its plants or other facilities, and the expiration of any labor contract to which it is a party or by which it is bound; (4) promptly but not later than 10 days after Borrower learns thereof, of any material default by Borrower under any note, indenture, loan agreement, mortgage, lease, deed, guaranty or other similar agreement relating to any Indebtedness of Borrower exceeding One Hundred Thousand and no/100 Dollars ($100,000); (5) promptly but not later than 10 days after the occurrence thereof, of any Unmatured Event of Default or Event of Default; (6) promptly but not later than 10 days after the occurrence thereof, of any default by any obligor under any material note or other evidence of indebtedness payable to Borrower; (7) promptly but not later than 10 days after the rendition thereof, of any judgment rendered against Borrower or any of its Subsidiaries in excess of $100,000 that is not fully covered by insurance, subject to a reasonable deductible; and (8) promptly but not later than 10 days after Borrower learns thereof, of any material adverse finding of any state or federal government entity in connection with all or any part of the Collateral.

Notices to Agent and Lenders. Borrower shall notify Notify Agent and each Lender in writing: (1i) promptly but not later than 10 days after Borrower learns Borrower's learning thereof, of the commencement of any litigation affecting Borrower or any of its real or personal property in which the amount in controversy exceeds $75,000Properties, whether or not the claim is considered by Borrower to be covered by insurance, and of the institution of any administrative proceeding which may have a Material Adverse Effectmaterially and adversely affect Borrower's operations, financial condition, Properties or business or Agent's Lien, for the benefit of Lenders, upon any of the Collateral; (2ii) at least thirty sixty (3060) days prior thereto, of Borrower’s 's opening of any new office or place of business or Borrower’s 's closing of any existing office or place of business where Collateral will be locatedbusiness; (3iii) promptly but not later than 10 days after Borrower learns Borrower's learning thereof, of any material labor dispute to which Borrower may become a party, any material strikes or walkouts relating to any of its plants or other facilities, and the expiration of any labor contract to which it is a party or by which it is bound; (4iv) promptly but not later than 10 days after Borrower learns Borrower's learning thereof, of any material default by Borrower under any note, indenture, loan agreement, mortgage, lease, deed, guaranty or other similar agreement relating to any Indebtedness of Borrower exceeding One Hundred Thousand and no/100 Dollars ($100,000)500,000; (5v) promptly but not later than 10 days after the occurrence thereof, of any Unmatured Event of Default or Event of Default; (6vi) promptly but not later than 10 days after the occurrence thereof, of any default by any obligor under any material note or other evidence of indebtedness Indebtedness payable to BorrowerBorrower in excess of $500,000; (7vii) promptly but not later than 10 days after the rendition thereof, of any judgment in an amount in excess of $500,000 rendered against any Borrower or any of its Subsidiaries in excess of $100,000 that is not fully covered by insurance, subject to a reasonable deductibleSubsidiaries; and (8) viii) promptly but not later than 10 days after Borrower learns Borrower's learning thereof, the occurrence of any material adverse finding default or event of default under or pursuant to the provisions of the Parent Senior Notes, the Indenture or any state or federal government entity other document executed in connection with all or any part of the CollateralParent Senior Notes.

Notices to Agent and Lenders. Borrower shall notify Notify Agent and Lenders in writing: (1i) promptly but not later than 10 days after Borrower learns either Borrower's learning thereof, of the commencement of any litigation affecting either Borrower or any of its real or personal property in which the amount in controversy exceeds $75,000Properties, whether or not the claim is considered by either Borrower to be covered by insurance, and of the institution of any administrative proceeding, which litigation or proceeding which may have a Material Adverse Effectcould reasonably be expected to materially and adversely affect either Borrower's operations, financial condition, Properties or business or Agent's Lien upon any of the Collateral; (2ii) at least thirty (30) days prior thereto, of either Borrower’s 's opening of any new office or place of business or either Borrower’s 's closing of any existing office or place of business where Collateral will be locatedbusiness; (3iii) promptly but not later than 10 days after Borrower learns either Borrower's learning thereof, of any labor dispute to which either Borrower may become a partyparty which could reasonably be expected to have a materially adverse effect on either Borrower, any strikes or walkouts relating to any of its plants or other facilities, and the expiration of any labor contract to which it is a party or by which it is bound; (4iv) promptly but not later than 10 days after Borrower learns either Borrower's learning thereof, of any material default by either Borrower under any note, indenture, loan agreement, mortgage, lease, deed, guaranty or other similar agreement relating to any Indebtedness of either Borrower exceeding One Two Hundred Fifty Thousand and no/100 Dollars ($100,000250,000); (5v) promptly but not later than 10 days after the occurrence thereof, of any Unmatured Event of Default or Event of Default; (6vi) promptly but not later than 10 days after the occurrence thereof, of any default by any obligor under any material note or other evidence of indebtedness Indebtedness in excess of One Hundred Thousand Dollars ($100,000) payable to either Borrower; , and (7vii) promptly but not later than 10 days after the rendition thereof, of any judgment in excess of Fifty Thousand Dollars ($50,000) rendered against either Borrower or any of its Subsidiaries in excess of $100,000 that is not fully covered by insurance, subject to a reasonable deductible; and (8) promptly but not later than 10 days after Borrower learns thereof, of any material adverse finding of any state or federal government entity in connection with all or any part of the Collateraltheir Subsidiaries.

Notices to Agent and Lenders. Borrower shall notify Notify Agent and each Lender in writing: (1i) promptly but not later than 10 days after Borrower learns such Borrower's learning thereof, of the commencement of any litigation affecting any Borrower or any of its real or personal property in which the amount in controversy exceeds $75,000Properties, whether or not the claim is considered by such Borrower to be covered by insurance, and of the institution of any administrative proceeding which may have a Material Adverse Effectmaterially and adversely affect any Borrower's operations, financial condition, Properties or business or Agent's Lien, for the benefit of Lenders, upon any of the Collateral; (2ii) at least thirty fifteen (3015) days prior thereto, of any Borrower’s 's opening of any new office or place of business or any Borrower’s 's closing of any existing office or place of business; PROVIDED, HOWEVER, no Borrower shall open a new office or place of business where Collateral will be locatedunless it shall have previously provided a duly executed landlord's waiver in favor of Agent, for the benefit of Lenders, in form and substance satisfactory to Agent, in its sole discretion, covering such new office or place of business; (3iii) promptly but not later than 10 days after Borrower learns such Borrower's learning thereof, of any material labor dispute to which any Borrower may become a party, any material strikes or walkouts relating to any of its plants or other facilities, and the expiration of any labor contract to which it is a party or by which it is bound; (4iv) promptly but not later than 10 days after Borrower learns such Borrower's learning thereof, of any material default by any Borrower under any note, indenture, loan agreement, mortgage, lease, deed, guaranty or other similar agreement relating to any post-Petition Indebtedness of any Borrower exceeding One Hundred Thousand and no/100 Dollars ($100,000); (5v) promptly but not later than 10 days after the occurrence thereof, of any Unmatured Event of Default or Event of Default; (6vi) promptly but not later than 10 days after the occurrence thereof, of any default by any obligor under any material note or other evidence of indebtedness Indebtedness payable to Borrowerany Borrower in excess of $100,000; and (7vii) promptly but not later than 10 days after the rendition thereof, of any judgment in an amount in excess of $50,000 rendered against any Borrower or any of its Subsidiaries Subsidiaries. In addition, each Borrower shall cause its counsel in excess its Chapter 11 Case to provide Agent's counsel with copies of $100,000 that is not fully covered by insuranceall pleadings, subject motions, applications, and other papers to a reasonable deductible; and (8) promptly but not later than 10 days after Borrower learns thereof, of any material adverse finding of any state or federal government entity in connection with all or any part of the CollateralCourt.