Common use of Notice of Litigation and Judgments Clause in Contracts

Notice of Litigation and Judgments. The Borrowers will, and ----------------------------------- will cause each of their Subsidiaries to, give notice to the Administrative Agent and each of the Banks in writing within fifteen (15) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting any Borrower or any of its Subsidiaries or to which any Borrower or any of its Subsidiaries is or becomes a party involving an uninsured claim against any Borrower or any of its Subsidiaries that could reasonably be expected to have a materially adverse effect on any Borrower or any of its Subsidiaries and stating the nature and status of such litigation or proceedings. Each Borrower will, and will cause each of its Subsidiaries to, give notice to the Administrative Agent and each of the Banks, in writing, in form and detail satisfactory to the Administrative Agent, within ten (10) days of any judgment not covered by insurance, final or otherwise, against such Borrower or any of its Subsidiaries in an amount in excess of $1,000,000.

Appears in 1 contract

Samples: Revolving Credit Agreement (Fairfield Communities Inc)

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Notice of Litigation and Judgments. The Borrowers Borrower will, and ----------------------------------- ---------------------------------- will cause each of their its Subsidiaries to, give notice to each of the Administrative Agent Agents and each of the Banks in writing within fifteen (15) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting any the Borrower or any of its Subsidiaries or to which any the Borrower or any of its Subsidiaries is or becomes a party involving an uninsured claim against any the Borrower or any of its Subsidiaries that could reasonably be expected to have a materially adverse effect on any the Borrower or any of its Subsidiaries and stating the nature and status of such litigation or proceedings. Each The Borrower will, and will cause each of its Subsidiaries to, give notice to the Administrative Agent and each of the BanksAgents, in writing, in form and detail satisfactory to each of the Administrative AgentAgents, within ten (10) days of any judgment not covered by insurance, final or otherwise, against such the Borrower or any of its Subsidiaries in an amount in excess of $1,000,000250,000.

Appears in 1 contract

Samples: Revolving Credit Agreement (California Steel Industries Inc)

Notice of Litigation and Judgments. The Each of the Borrowers will, and ----------------------------------- will cause each of their its Subsidiaries to, give notice to the Administrative Agent and each of the Banks Lenders in writing within fifteen (15) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting any Borrower of the Borrowers or any of its their Subsidiaries or to which any Borrower of the Borrowers or any of its their Subsidiaries is or becomes a party involving an uninsured claim against any Borrower of the Borrowers or any of its their Subsidiaries that could reasonably be expected to have a materially adverse effect on any Borrower of the Borrowers or any of its their Subsidiaries and stating the nature and status of such litigation or proceedings. Each Borrower of the Borrowers will, and will cause each of its Subsidiaries to, give notice to the Administrative Agent and each of the BanksLenders, in writing, in form and detail satisfactory to the Administrative Agent, within ten (10) days of any judgment not covered by insurance, final or otherwise, against such Borrower or any of its Subsidiaries in an amount in excess of $1,000,000250,000.

Appears in 1 contract

Samples: Credit Agreement (Transtechnology Corp)

Notice of Litigation and Judgments. The Borrowers Borrower will, and ----------------------------------- will ---------------------------------- cause each of their its Subsidiaries to, give notice to the Administrative Agent and each of the Banks in writing within fifteen (15) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting any the Borrower or any of its Subsidiaries or to which any the Borrower or any of its Subsidiaries is or becomes a party involving an uninsured claim against any the Borrower or any of its Subsidiaries that could reasonably be expected to have a materially adverse effect on any the Borrower or any of its Subsidiaries and stating the nature and status of such litigation or proceedings. Each The Borrower will, and will cause each of its Subsidiaries to, give notice to the Administrative Agent and each of the Banks, in writing, in form and detail satisfactory to the Administrative Agent, within ten (10) days of any judgment not covered by insurance, final or otherwise, against such the Borrower or any of its Subsidiaries in an amount in excess of $1,000,000.

Appears in 1 contract

Samples: Term Loan Agreement (Fairfield Communities Inc)

Notice of Litigation and Judgments. The Borrowers Borrower will, and ----------------------------------- ---------------------------------- will cause each of their its Subsidiaries to, give notice to the Administrative Agent and each of the Banks in writing within fifteen ten (1510) days Business Days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting any the Borrower or any of its Subsidiaries or to which any the Borrower or any of its Subsidiaries is or becomes a party involving an uninsured claim of more than $1,500,000 against any the Borrower or any of its Subsidiaries that could reasonably be expected to have a materially adverse effect on any the Borrower or any of its Subsidiaries and stating the nature and status of such litigation or proceedings. Each The Borrower will, and will cause each of its Subsidiaries to, give notice to the Administrative Agent and each of the Banks, in writing, in form and detail satisfactory to the Administrative Agent, within ten (10) days Business Days of any judgment not covered by insurance, final or otherwise, against such the Borrower or any of its Subsidiaries in an amount in excess of $1,000,0001,500,000. 9.6.

Appears in 1 contract

Samples: Credit Agreement (Jackson Products Inc)

Notice of Litigation and Judgments. The Each of the Borrowers will, and ----------------------------------- will cause each of their Subsidiaries to, give notice to the Administrative Agent and each of the Banks in writing within fifteen (15) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting any Borrower of the Borrowers or any of its their Subsidiaries or to which any Borrower the Borrowers or any of its their Subsidiaries is or becomes a party involving an uninsured claim against any Borrower the Borrowers or any of its their Subsidiaries that could reasonably be expected to have a materially adverse effect on any Borrower the Borrowers or any of its their Subsidiaries and stating the nature and status of such litigation or proceedings. Each Borrower of the Borrowers will, and will cause each of its their Subsidiaries to, give notice to the Administrative Agent and each of the Banks, in writing, in form and detail satisfactory to the Administrative Agent, within ten (10) days of any judgment not covered by insurance, final or otherwise, against such Borrower any of the Borrowers or any of its their Subsidiaries in an amount in excess of $1,000,000.

Appears in 1 contract

Samples: Revolving Credit Agreement (Transpro Inc)

Notice of Litigation and Judgments. The Borrowers will, and ----------------------------------- will cause each of their Subsidiaries to, give notice to the Administrative Agent and each of the Banks in writing within fifteen (15) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting any Borrower of the Borrowers or any of its their Subsidiaries or to which any Borrower of the Borrowers or any of its their Subsidiaries is or becomes a party involving an uninsured claim against any Borrower of the Borrowers or any of its their Subsidiaries that could reasonably be expected to have a materially adverse effect on any Borrower or any of its Subsidiaries the Borrowers and their Subsidiaries, considered as a whole, and stating the nature and status of such litigation or proceedings. Each Borrower of the Borrowers will, and will cause each of its Subsidiaries to, give notice to the Administrative Agent and each of the Banks, in writing, in form and detail satisfactory to the Administrative Agent, within ten (10) days of any judgment not covered by insurance, final or otherwise, against such Borrower any of the Borrowers or any of its their Subsidiaries in an amount in excess of $1,000,000.

Appears in 1 contract

Samples: Revolving Credit Agreement (American Restaurant Group Inc)

Notice of Litigation and Judgments. The Each of the Borrowers will, and ----------------------------------- will cause each of their its Subsidiaries to, give notice to the Administrative Agent and each of the Banks Lenders in writing within fifteen (15) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting any Borrower of the Borrowers or any of its their Subsidiaries or to which any Borrower of the Borrowers or any of its their Subsidiaries is or becomes a party involving an uninsured claim against any Borrower of the Borrowers or any of its their Subsidiaries that could reasonably be expected to have a materially adverse effect on any Borrower of the Borrowers or any of its their Subsidiaries and stating the nature and status of such litigation or proceedings. Each Borrower of the Borrowers will, and will cause each of its Subsidiaries to, give notice to the Administrative Agent and each of the BanksLenders, in writing, in form and detail satisfactory to the Administrative Agent, within ten (10) days of any judgment not covered by insurance, final or otherwise, against such Borrower or any of its Subsidiaries in an amount in excess of $1,000,000.

Appears in 1 contract

Samples: Credit Agreement (Transtechnology Corp)

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Notice of Litigation and Judgments. The Borrowers Borrower will, and ----------------------------------- will cause each of their its Subsidiaries to, give notice to each of the Administrative Agent Agents and each of the Banks in writing within fifteen (15) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting any the Borrower or any of its Subsidiaries or to which any the Borrower or any of its Subsidiaries is or becomes a party involving an uninsured claim against any the Borrower or any of its Subsidiaries that could reasonably be expected to have a materially adverse effect on any the Borrower or any of its Subsidiaries and stating the nature and status of such litigation or proceedings. Each The Borrower will, and will cause each of its Subsidiaries to, give notice to each of the Administrative Agent Agents and each of the Banks, in writing, in form and detail satisfactory to the Administrative AgentAgents, within ten (10) days of any judgment not covered by insurance, final or otherwise, against such the Borrower or any of its Subsidiaries in an amount in excess of $1,000,000500,000.00.

Appears in 1 contract

Samples: Consignment Agreement (Marks Bros Jewelers Inc)

Notice of Litigation and Judgments. The Each of the Borrowers will, and ----------------------------------- will cause each of their its Subsidiaries to, give notice to the Administrative Agent and each of the Banks Lenders in writing within fifteen (15) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting any either Borrower or any of its Subsidiaries or to which any either Borrower or any of its Subsidiaries is or becomes a party involving an uninsured claim against any either Borrower or any of its Subsidiaries that could could, if adversely determined, reasonably be expected to have a materially adverse effect on any Borrower or any of its Subsidiaries Material Adverse Effect and stating the nature and status of such litigation or proceedings. Each Borrower of the Borrowers will, and will cause each of its Subsidiaries to, give notice to the Administrative Agent and each of the BanksLenders, in writing, in form and detail satisfactory to the Administrative Agent, within ten (10) days of any judgment not covered by insurance, final or otherwise, against such either Borrower or any of its Subsidiaries in an amount in excess of $1,000,000175,000.

Appears in 1 contract

Samples: Credit Agreement (Vermont Pure Holdings LTD/De)

Notice of Litigation and Judgments. The Each of the Borrowers will, and ----------------------------------- will cause each of their its Subsidiaries to, give notice to the Administrative Agent and each of the Banks Lenders in writing within fifteen (15) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting any Borrower of the Borrowers or any of its their Subsidiaries or to which any Borrower of the Borrowers or any of its their Subsidiaries is or becomes a party involving an uninsured claim against any Borrower of the Borrowers or any of its their Subsidiaries that could reasonably be expected to have a materially adverse effect Material Adverse Effect on any Borrower of the Borrowers or any of its their Subsidiaries and stating the nature and status of such litigation or proceedings. Each Borrower of Borrowers will, and will cause each of its their Subsidiaries to, give notice to the Administrative Agent and each of the BanksLenders, in writing, in form and detail satisfactory to the Administrative Agent, within ten (10) days of any judgment not covered by insurance, final or otherwise, against such Borrower any of the Borrowers or any of its their Subsidiaries in an amount in excess of $1,000,000250,000.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Furrs Restaurant Group Inc)

Notice of Litigation and Judgments. The Borrowers will, and ----------------------------------- will cause each of their Subsidiaries to, give notice to the Administrative Agent and each of the Banks Lenders in writing within fifteen (15) days of any Designated Borrower Officer becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting any Borrower the Borrowers or any of its their Subsidiaries or to which any Borrower the Borrowers or any of its their Subsidiaries is or becomes a party involving an uninsured claim against any Borrower the Borrowers or any of its their Subsidiaries that that, in each case or in the aggregate, could reasonably be expected to have a materially adverse effect on any Borrower or any of its Subsidiaries Material Adverse Effect and stating the nature and status of such litigation or proceedings. Each Borrower The Borrowers will, and will cause each of its their Subsidiaries to, give notice to the Administrative Agent and each of the BanksLenders, in writing, in form and detail satisfactory to the Administrative Agent, within ten (10) days of any judgment not covered by insurance, final or otherwise, against such Borrower the Borrowers or any of its their Subsidiaries in an amount in excess of $1,000,000500,000.

Appears in 1 contract

Samples: Loan and Security Agreement (Fao Inc)

Notice of Litigation and Judgments. The Each of the Borrowers will, and ----------------------------------- will cause each of their its Subsidiaries to, give notice to the Administrative each Bank Agent and each of the Banks Lenders in writing within fifteen (15) days of becoming aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting any Borrower of the Borrowers or any of its their Subsidiaries or to which any Borrower of the Borrowers or any of its their Subsidiaries is or becomes a party involving an uninsured claim against any of the Borrower or any of its their Subsidiaries that could reasonably be expected to have a materially adverse effect Material Adverse Effect on any Borrower of the Borrowers or any of its their Subsidiaries and stating the nature and status of such litigation or proceedings. Each Borrower The Borrowers will, and will cause each of its Subsidiaries to, give notice to the Administrative each Bank Agent and each of the BanksLenders, in writing, in form and detail satisfactory to the Administrative AgentBank Agents, within ten (10) days of any judgment not covered by insurance, final or otherwise, against such Borrower the Borrowers or any of its their Subsidiaries in an amount in excess of $1,000,00015,000,000.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Agreement (Borders Group Inc)

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