Common use of Proceedings or Changes Clause in Contracts

Proceedings or Changes. (i) Promptly, and in any event within five (5) Business Days after any Responsible Officer of Borrower obtains actual knowledge of any (i) material change, development or event in connection with a Specified Litigation (including monetary settlement) or (ii) any actual change, development or event which has had or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, a written statement describing such proceeding, change, development or event and any action being taken by such Loan Party or any of its Subsidiaries with respect thereto. (ii) Promptly, and in any event within five (5) Business Days after receipt thereof by any Loan Party or date of any Loan Party submits, as applicable, any non-confidential pleadings, other court records, communications in connection with each of the Specified Litigation, or any final settlement agreements that may be shared with Agent under an applicable confidentiality provisions in connection with each of the Specified Litigation. (iii) Promptly, and in any event within five (5) Business Days upon receipt by any Loan Party or any of its Subsidiaries copies of each written notice or other written correspondence received from any Governmental Authority in connection with any material investigation or proceeding regarding financial or other operational results of any Loan Party or any of its Subsidiaries.