Common use of Additional Liabilities Clause in Contracts

Additional Liabilities. Promptly, but in any event within five (5) Business Days, inform Lender in writing (a) in the event any litigation, claim, investigation, administrative proceeding or similar action affecting Borrower which could reasonably be expected to have a Material Adverse Effect is filed or threatened against Borrower, and (b) of the creation, occurrence or assumption by Borrower of any actual or contingent liabilities not permitted under this Agreement.

Additional Liabilities. Promptly, but in any event within five (5) Business Days, inform Lender in writing (a) in the event any litigation, claim, investigation, administrative proceeding or similar action affecting such Borrower or any Guarantor which could reasonably be expected to have a Material Adverse Effect is filed or threatened against Borrowersuch Borrower or any Guarantor, and (b) of the creation, occurrence or assumption by such Borrower of any actual or contingent liabilities not permitted under this Agreement.