Notify Bank immediately upon acquiring knowledge of (a) the institution or threatened institution of any lawsuit or administrative proceeding which, if adversely determined, might materially adversely affect Borrower; (b) any material adverse change in the assets, liabilities, financial condition, business or affairs of Borrower; (c) any Event of Default; or (d) any reportable event or any prohibited transaction involving potentially material adverse effect in connection with any employee benefit plan.
Notify Bank immediately upon acquiring knowledge of (a) the institution or threatened institution of any lawsuit or administrative proceeding which, if adversely determined, might have a Material Adverse Effect on Borrower; (b) any material adverse change in the assets, liabilities, financial condition, business or affairs of Borrower; (c) any Event of Default; (d) any reportable event or any prohibited transaction in connection with any employee benefit plan; or (e) any sale, transfer, hypothecation, assignment or other disposition by any of the Current Owners of any shares of the capital stock of the Borrower except (i) in one or more transactions in which one or more of the Current Owners retains beneficial ownership of such shares (within the meaning of the Securities Exchange Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in effect on the date hereof), (ii) in sales made into the public securities markets pursuant to Rule 144 under the Securities Act of 1933, as amended, or any similar provision or (iii) in connection with a public offering or registered sale unless such transaction is reasonably expected to cause a Change in Control (and provided that no such notice shall be required during any period in which notification of such registered sale or public offering is not permitted by or is inadvisable in light of applicable Legal Requirements).
Notify Bank immediately upon acquiring knowledge of (a) the institution or threatened institution of any lawsuit or administrative proceeding which, if adversely determined, might adversely affect Borrower; (b) any material adverse change in the assets, liabilities, financial condition, business or affairs of Borrower; (c) any Event of Default; or (d) any reportable event or any prohibited transaction in connection with any employee benefit plan. INSPECTION/AUDIT 4.5 Permit Bank and its affiliates to inspect and photograph its Property, to examine and copy its files, books and records, and to discuss its affairs with its officers and accountants, at such times and intervals and to such extent as Bank reasonably desires. Without limiting the generality of the foregoing, if at any time the Indebtedness outstanding under the Note equals or exceeds $2,500,000.00, Borrower shall permit Bank or any of its Subsidiaries or Affiliates to review the inventory, accounting procedures, and inventory management and information systems, of Borrower and its Subsidiaries at Borrower's expense.
