Common use of Notice of Litigation and Judgments Clause in Contracts

Notice of Litigation and Judgments. The Borrower will, and will cause each Guarantor and each Guarantor's Subsidiaries to, and the Borrower will cause each of its respective Subsidiaries to, give notice to the Administrative Agent in writing within ten (10) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings an adverse determination in which could reasonably be expected to have a Material Adverse Effect or materially adversely affect any Unencumbered Property, or to which the Borrower, any Guarantor or any of their respective Subsidiaries is or is to become a party involving an uninsured claim against the Borrower, any Guarantor or any of their respective Subsidiaries that could reasonably be expected to have a Materially Adverse Effect or materially adversely affect the value or operation of the Unencumbered Properties and stating the nature and status of such litigation or proceedings. The Borrower will, and will cause each of the Guarantors and the Subsidiaries to, give notice to the Administrative Agent, in writing, in form and detail reasonably satisfactory to the Administrative Agent, within ten (10) days of any judgment not covered by insurance, final or otherwise, against the Borrower, any Guarantor or any of their Subsidiaries in an amount in excess of $1,000,000.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Mack Cali Realty Corp), Credit Agreement (Mack Cali Realty Corp), Revolving Credit Agreement (Mack Cali Realty L P)

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Notice of Litigation and Judgments. The Each Borrower will, and will cause each Guarantor and each Guarantor's Subsidiaries to, and the Borrower Borrowers will cause each of its their respective Subsidiaries to, give notice to the Administrative Agent in writing within ten (10) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings an adverse determination in which could reasonably be expected to have a Material Adverse Effect or materially adversely affect any Borrower, any Guarantor or any of their respective Subsidiaries or any Unencumbered Property, Property or to which the any Borrower, any Guarantor or any of their respective Subsidiaries is or is to become a party involving an uninsured a claim against the any Borrower, any Guarantor or any of their respective Subsidiaries (to the extent uninsured) that could reasonably be expected to have a Materially Material Adverse Effect or materially adversely affect the value or operation of the Unencumbered Properties and stating the nature and status of such litigation or proceedings. The Each Borrower will, and will cause each of the Guarantors and the Subsidiaries to, give notice to the Administrative Agent, in writing, in form and detail reasonably satisfactory to the Administrative Agent, within ten (10) days of any judgment to the extent not covered by insurance, final or otherwise, against the any Borrower, any Guarantor or any of their Subsidiaries in an amount in excess of $1,000,000100,000.

Appears in 3 contracts

Samples: Revolving Credit and Term Loan Agreement (Sovran Self Storage Inc), Credit Agreement (Sovran Acquisition LTD Partnership), Credit Agreement (Sovran Self Storage Inc)

Notice of Litigation and Judgments. The Borrower will, and will cause each Guarantor and each Guarantor's ’s Subsidiaries to, and the Borrower will cause each of its respective Subsidiaries to, give notice to the Administrative Agent in writing within ten (10) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings an adverse determination in which could reasonably be expected to have a Material Adverse Effect or materially adversely affect any Unencumbered Property, or to which the Borrower, any Guarantor or any of their respective Subsidiaries is or is to become a party involving an uninsured claim against the Borrower, any Guarantor or any of their respective Subsidiaries that could reasonably be expected to have a Materially Adverse Effect or materially adversely affect the value or operation of the Unencumbered Properties and stating the nature and status of such litigation or proceedings. The Borrower will, and will cause each of the Guarantors and the Subsidiaries to, give notice to the Administrative Agent, in writing, in form and detail reasonably satisfactory to the Administrative Agent, within ten (10) days of any judgment not covered by insurance, final or otherwise, against the Borrower, any Guarantor or any of their Subsidiaries in an amount in excess of $1,000,0005,000,000.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Mack Cali Realty L P), Term Loan Agreement (Mack Cali Realty Corp), Term Loan Agreement (Mack Cali Realty L P)

Notice of Litigation and Judgments. The Each Borrower will, and will cause each Guarantor and each Guarantor's Subsidiaries to, and the Borrower Borrowers will cause each of its their respective Subsidiaries to, give notice to the Administrative Agent in writing within ten (10) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings an adverse determination in which could reasonably be expected to have a Material Adverse Effect or materially adversely affect any Borrower, any Guarantor or any of their respective Subsidiaries or any Unencumbered Property, Property or to which the any Borrower, any Guarantor or any of their respective Subsidiaries is or is to become a party involving an uninsured a claim against the any Borrower, any Guarantor or any of their respective Subsidiaries (to the extent uninsured) that could reasonably be expected to have a Materially Material Adverse Effect or materially adversely affect the value or operation of the Unencumbered Properties and stating the nature and status of such litigation or proceedings. The Each Borrower will, and will cause each of the Guarantors and the Subsidiaries to, give notice to the Administrative Agent, in writing, in form and detail reasonably satisfactory to the Administrative Agent, within ten (10) days of any judgment to the extent not covered by insurance, final or otherwise, against the any Borrower, any Guarantor or any of their Subsidiaries in an amount in excess of $1,000,000.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Sovran Self Storage Inc), Credit Agreement (Sovran Self Storage Inc)

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Notice of Litigation and Judgments. The Each Borrower will, and will cause each Guarantor and each Guarantor's Subsidiaries to, and the Borrower Borrowers will cause each of its their respective Subsidiaries to, give notice to the Administrative Agent in writing within ten (10) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings an adverse determination in which could reasonably be expected to have a Material Adverse Effect or materially adversely affect any Unencumbered Property, or to which the any Borrower, any Guarantor or any of their respective Subsidiaries is or is to become a party involving an uninsured claim against the any Borrower, any Guarantor or any of their respective Subsidiaries that could reasonably be expected to have a Materially Adverse Effect or materially adversely affect the value or operation of the Unencumbered Properties and stating the nature and status of such litigation or proceedings. The Each Borrower will, and will cause each of the Guarantors and the Subsidiaries to, give notice to the Administrative Agent, in writing, in form and detail reasonably satisfactory to the Administrative Agent, within ten (10) days of any judgment not covered by insurance, final or otherwise, against the any Borrower, any Guarantor or any of their Subsidiaries in an amount in excess of $1,000,000.

Appears in 1 contract

Samples: Revolving Credit Agreement (Cali Realty Corp /New/)

Notice of Litigation and Judgments. The Borrower Representative will, and will cause each Guarantor and each Guarantor's Subsidiaries to, and the Borrower Borrowers will cause each of its their respective Subsidiaries to, give notice to the Administrative Agent in writing within ten (10) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings an adverse determination in which could reasonably be expected to have a Material Adverse Effect or materially adversely affect any Borrower, any Guarantor or any of their respective Subsidiaries or any Unencumbered Property, Property or to which the any Borrower, any Guarantor or any of their respective Subsidiaries is or is to become a party involving an uninsured a claim against the any Borrower, any Guarantor or any of their respective Subsidiaries (to the extent uninsured) that could reasonably be expected to have a Materially Material Adverse Effect or materially adversely affect the value or operation of the Unencumbered Properties and stating the nature and status of such litigation or proceedings. The Each Borrower will, and will cause each of the Guarantors and the Subsidiaries to, give notice to the Administrative Agent, in writing, in form and detail reasonably satisfactory to the Administrative Agent, within ten (10) days of any judgment to the extent not covered by insurance, final or otherwise, against the any Borrower, any Guarantor or any of their Subsidiaries in an amount in excess of $1,000,000.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Life Storage Lp)

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