Common use of Notice of Default or Litigation Clause in Contracts

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 29 contracts

Samples: Credit Agreement (First Data Corp), Credit Agreement (First Data Corp), 2017 November Joinder Agreement (First Data Corp)

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Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower Holdings or any of the Restricted Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower Holdings proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower Holdings or any of the Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 22 contracts

Samples: Credit Agreement (GoDaddy Inc.), Credit Agreement (GoDaddy Inc.), Credit Agreement (National Vision Holdings, Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Restricted Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Restricted Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 19 contracts

Samples: First Lien Credit Agreement (BrightSpring Health Services, Inc.), First Lien Credit Agreement (BrightSpring Health Services, Inc.), Lien Credit Agreement (BrightSpring Health Services, Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending or threatened against the Borrower or any of the its Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 18 contracts

Samples: Amendment and Restatement Agreement (ITC Holdings Corp.), Amendment and Restatement Agreement (ITC Holdings Corp.), Amendment and Restatement Agreement (ITC Holdings Corp.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending or threatened against the Borrower or any of the its Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 9 contracts

Samples: Term Loan Credit Agreement (ITC Holdings Corp.), Term Loan Credit Agreement (ITC Holdings Corp.), Term Loan Credit Agreement (ITC Holdings Corp.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto thereto, and (ii) any litigation or governmental proceeding pending against the Borrower or any of the its Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 9 contracts

Samples: Credit Agreement (Bristol West Holdings Inc), Credit Agreement (Bristol West Holdings Inc), Credit Agreement (Bristol West Holdings Inc)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Parent Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Parent Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Parent Borrower or any of the Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 7 contracts

Samples: Credit Agreement (HCA Healthcare, Inc.), Restatement Agreement (HCA Holdings, Inc.), Credit Agreement (HCA Holdings, Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Subsidiaries Restricted Subsidiary obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or an Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Restricted Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 7 contracts

Samples: Credit Agreement (Canada Goose Holdings Inc.), Credit Agreement (Canada Goose Holdings Inc.), Credit Agreement (Canada Goose Holdings Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Restricted Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 6 contracts

Samples: Credit Agreement (Academy Sports & Outdoors, Inc.), Credit Agreement (Academy Sports & Outdoors, Inc.), Abl Credit Agreement (Academy Sports & Outdoors, Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower Holdings or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower Holdings proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower Holdings or any of the Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 5 contracts

Samples: Credit Agreement (RBC Bearings INC), Credit Agreement (RBC Bearings INC), Credit Agreement (Gardner Denver Holdings, Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the any Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Parent Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the any Borrower or any of the Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 4 contracts

Samples: Credit Agreement (Laureate Education, Inc.), Credit Agreement (Laureate Education, Inc.), Restatement Agreement (HCA Holdings, Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or an Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto thereto, and (ii) any litigation or governmental proceeding pending against the Borrower or any of the its Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 4 contracts

Samples: Credit Agreement (LPL Investment Holdings Inc.), Credit Agreement (Texas Genco Inc.), Credit Agreement (LPL Investment Holdings Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental or accreditation proceeding pending against the Borrower or any of the Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 3 contracts

Samples: Credit Agreement (Laureate Education, Inc.), Credit Agreement (Laureate Education, Inc.), Collateral Agreement (Laureate Education, Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse EffectEffect or a Material Adverse Change.

Appears in 3 contracts

Samples: Revolving Loan Credit Agreement (McJunkin Red Man Holding Corp), Term Loan Credit Agreement (McJunkin Red Man Holding Corp), Term Loan Credit Agreement (McJunkin Red Man Holding Corp)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower Holdings or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower Holdings proposes to take with respect thereto and (ii) any litigation or 117 governmental proceeding pending against the Borrower Holdings or any of the Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 3 contracts

Samples: Credit Agreement (PRA Health Sciences, Inc.), Credit Agreement (PRA Health Sciences, Inc.), Credit Agreement (PRA Health Sciences, Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Parent Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Parent Borrower proposes to take with respect thereto and (ii) to the extent permissible by Requirements of Law, any litigation or governmental proceeding pending against the Parent Borrower or any of the Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (HCA Healthcare, Inc.), Restatement Agreement (HCA Healthcare, Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the sole manager of the Borrower or any of the its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending or threatened against the Borrower or any of the its Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (ITC Holdings Corp.), Term Loan Credit Agreement (ITC Holdings Corp.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Subsidiaries that could couldwould reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (HCA Healthcare, Inc.), Joinder Agreement (HCA Healthcare, Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Restricted Subsidiaries obtains knowledge thereof, notice of (i) the occurrence existence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Restricted Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Claire's Holdings LLC), Abl Credit Agreement (Claire's Holdings LLC)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto thereto, and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (Rockwood Holdings, Inc.), Security Agreement (Rockwood Holdings, Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Restricted Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against Holdings, the Borrower or any of the Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 2 contracts

Samples: First Lien Credit Agreement (Bountiful Co), Second Lien Credit Agreement (Bountiful Co)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower Holdings or any of the Restricted Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower Holdings proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower Holdings or any of the Restricted Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (BrightView Holdings, Inc.), Credit Agreement (BrightView Holdings, Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) to the extent permissible by Requirements of Law, any litigation or governmental proceeding pending against the Borrower or any of the Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 2 contracts

Samples: Restatement Agreement (HCA Healthcare, Inc.), Restatement Agreement (HCA Healthcare, Inc.)

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Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Restricted Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, would reasonably be expected to result in a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (Skillsoft Corp.), Credit Agreement (Skillsoft Corp.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes Credit Parties propose to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the its Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (Kinder Morgan Holdco LLC), Pledge Agreement (Kinder Morgan Inc)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (HCA Healthcare, Inc.), Term Loan Credit Agreement (Toys R Us Inc)

Notice of Default or Litigation. Promptly after an Authorized Officer of any of the Borrower or any of the its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto thereto, and (ii) any litigation or governmental proceeding pending against the Borrower or any of the its Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 1 contract

Samples: Senior Subordinated Loan Agreement (Rockwood Specialties Group Inc)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof (to the extent known) and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Restricted Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 1 contract

Samples: Restatement Agreement (Univar Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the any Borrower or any of the Restricted Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Lead Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against Holdings, the Borrower Borrowers or any of the Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Bountiful Co)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the its Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Brunos Inc)

Notice of Default or Litigation. Promptly after an Authorized Officer of the such Borrower or any of the its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the such Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending or threatened against the such Borrower or any of the its Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (ITC Holdings Corp.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action either of the Borrower proposes to take with respect thereto thereto, and (ii) any litigation or governmental proceeding pending against the Borrower or any of the its Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 1 contract

Samples: Bridge Loan Agreement (Rockwood Holdings, Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, -105- the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental or accreditation proceeding pending against the Borrower or any of the Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.. (e)

Appears in 1 contract

Samples: Second Lien Intercreditor Agreement

Notice of Default or Litigation. Promptly after an Authorized Officer of Holdings, the Borrower or any of the Restricted Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Visant Corp)

Notice of Default or Litigation. Promptly after an Authorized Officer of the any Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof to the extent known and what action the Borrower proposes Borrowers propose to take with respect thereto and (ii) any litigation or governmental proceeding pending against the any Borrower or any of the Restricted Subsidiaries that could would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Univar Inc.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the sole manager of the Borrower or any of the its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending or threatened against the Borrower or any of the its Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 1 contract

Samples: Term Loan Credit Agreement (ITC Holdings Corp.)

Notice of Default or Litigation. Promptly after an Authorized Officer of the Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, -105- the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental or accreditation proceeding pending against the Borrower or any of the Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

Appears in 1 contract

Samples: Second Lien Intercreditor Agreement (Laureate Education, Inc.)

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