Common use of Legal Action Notice Clause in Contracts

Legal Action Notice. A prompt report of any legal actions initiated or threatened in writing that occur after the Closing Date against any Loan Party that could reasonably result in damages or costs to any Loan Party, individually or in the aggregate for all related proceedings, of Two Hundred Fifty Thousand dollars ($250,000) or more, and with respect to any legal action existing or threatened action in writing as of the Closing Date or initiated thereafter, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Hundred Fifty Thousand dollars ($250,000) 250,000 or more, or of any Loan Party or any of its Subsidiaries taking or threatening legal action against any third person with respect to a material claim, and with respect to any legal pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt promptly report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Five Hundred Fifty Thousand dollars Dollars ($250,000500,000.00) or more, or of any Loan Party or any of its Subsidiaries taking or threatening legal action against any third person with respect to a material claim, and with respect to any legal pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Five Hundred Fifty Thousand dollars Dollars ($250,000500,000) or more, or of any Loan Party or any of its Subsidiaries taking or threatening legal action against any third person with respect to a material claim, and with respect to any legal pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably be expected to result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Hundred Fifty Thousand dollars Dollars ($250,000250,000.00) or more, or of any Loan Party or any of its Subsidiaries taking or threatening in writing legal action against any third person with respect to a material claim, and with respect to any legal pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Hundred Fifty Thousand dollars Dollars ($250,000) or more, or of any Loan Party or any of its Subsidiaries taking or threatening legal action against any third person with respect to a material claim, and with respect to any legal pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could would reasonably be expected to result in damages or costs to any Loan PartyParty or any of its Subsidiaries of, individually or in the aggregate for all related proceedingsaggregate, of Two Hundred Fifty Twenty Five Thousand dollars Dollars ($250,00025,000) or more, and with respect to any legal action existing or threatened action in writing as of the Closing Date or initiated thereafter, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably be expected to result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Hundred Fifty Thousand dollars Dollars ($250,000250,000.00) or more, or of any Loan Party or any of its Subsidiaries taking or threatening legal action against any third person with respect to a material claim, and with respect to any legal pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.. (i)

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Hundred Fifty Thousand dollars ($250,000) 500,000 or more, or of any Loan Party or any of its Subsidiaries taking or threatening legal action against any third person with respect to a claim of $500,000 or more, and with respect to any legal pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably be expected to result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Hundred Fifty Thousand dollars Dollars ($250,000) or more, and with respect to any legal action existing or threatened action in writing as of the Closing Date or initiated thereafter, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Hundred and Fifty Thousand dollars ($250,000) or more, or of any Loan Party or any of its Subsidiaries taking or threatening legal action against any third person with respect to a material claim, and with respect to any legal pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Hundred Fifty Thousand dollars ($250,000) 500,000 or more, or of any Loan Party or any of its Subsidiaries taking or threatening legal action against any third person with respect to a material claim, and with respect to any legal pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated or threatened in writing that occur after the Closing Date against any Loan Party that could reasonably result in damages or costs to any Loan Party, individually or in the aggregate for all related proceedings, of Two Three Hundred Fifty Thousand dollars ($250,000350,000) or more, and with respect to any legal action existing or threatened action in writing as of the Closing Date or initiated thereafter, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Hundred Fifty Thousand dollars ($250,000) 250,000 or more, or of any Loan Party or any of its Subsidiaries taking or threatening legal action against any third person with respect to a material claim, and with respect to any legal pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably result in damages or costs to any Loan PartyParty or any of its Subsidiaries of, individually or in the aggregate for all related proceedings, of Two Hundred Fifty Thousand dollars ($250,000) 500,000 or more, and with respect to more of any legal action existing or threatened action claim asserted in writing as that a Loan Party or any of its products infringes on the Closing Date or initiated thereafter, a prompt report Intellectual Property of any material adverse development with respect theretoanother Person.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably be expected to result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Hundred Fifty Thousand dollars ($250,000) 500,000 or more, or of any Loan Party or any of its Subsidiaries taking or threatening legal action against any third person with respect to a material claim, and with respect to any legal pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party Borrower or any of its Subsidiaries that could reasonably be expected to result in damages or costs to any Loan PartyBorrower or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Hundred Fifty Thousand dollars Dollars ($250,000250,000.00) or more, or of any Borrower or any of its Subsidiaries taking or threatening legal action against any third person with respect to a material claim, and with respect to any legal pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could would reasonably be expected to result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Hundred Fifty Thousand dollars ($250,000) 500,000 or more, or of any Loan Party or any of its Subsidiaries taking or threatening legal action against any third person with respect to a material claim, and with respect to any legal pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or the Collateral that could reasonably result in damages or costs to any Loan Party, individually or in the aggregate for all related proceedings, of Two Five Hundred Fifty Thousand dollars ($250,000500,000) or more or that would reasonably be expected to result in a Material Adverse Effect, or of any Loan Party taking or threatening legal action in writing against any third person with respect to a material claim that could reasonably result in damages or costs against such third party of Five Hundred Thousand dollars ($500,000) or more, and with respect to any legal action existing or threatened action in writing as of the Closing Date or initiated thereafter, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Five Hundred Fifty Thousand dollars Dollars ($250,000500,000.00) or more, or of any Loan Party or any of its Subsidiaries taking or threatening legal action against any third person with respect to a material claim, and with respect to any legal such pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of its Subsidiaries that could reasonably result in damages or costs to any Loan PartyParty or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Five Hundred Fifty Thousand dollars Dollars ($250,000) 500,000)or more, or moreof any Loan Party or any of its Subsidiaries taking or threatening material legal action against any third person with respect to a material claim, and with respect to any legal pending material action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party or any of their respective Subsidiaries that could reasonably be expected to result in damages or costs to a Loan Party or any Loan Partyof its Subsidiaries of, individually or in the aggregate for all related proceedingsaggregate, of Two One Hundred Fifty Thousand dollars Dollars ($250,000100,000) or more, and with respect to any legal action existing or threatened action in writing as of the Closing Date or initiated thereafter, a prompt report of any material adverse development with respect thereto.;

Legal Action Notice. A prompt report of any legal actions initiated pending or threatened in writing that occur after the Closing Date against any Loan Party Obligor or any of its Subsidiaries that could reasonably result in damages or costs to any Loan PartyObligor or any of its Subsidiaries, individually or in the aggregate for all related proceedings, of Two Hundred Fifty Thousand dollars ($250,000) 500,000 or more, or of any Obligor or any of its Subsidiaries taking or threatening legal action against any third person with respect to a claim of $500,000 or more, and with respect to any legal pending action existing or threatened action in writing as of the Closing Date or initiated thereafteraction, a prompt report of any material adverse development with respect thereto.