ADVERSE CHANGES AND LITIGATION Sample Clauses

ADVERSE CHANGES AND LITIGATION. The Borrower shall give notice in writing to the Bank of (a) the occurrence of any Event of Default or Unmatured Event of Default or of any other change or occurrence which could have a material adverse effect on its financial condition or business, promptly but not later than Ten (10) calendar days after occurrence; (b) all litigation or any threat thereof and all proceedings and investigations or any threat thereof before or by any governmental or regulatory agencies affecting the Borrower, any of which, if adversely determined, may have a material adverse effect on the financial condition or business of the Borrower, promptly but not later than Five (5) days of service of process or other notification or threat of such litigation and/or proceedings; and (c) the actual knowledge of the occurrence of any facts which would cause the representations and warranties set forth in Section 5 hereof to become untrue or materially misleading.

ADVERSE CHANGES AND LITIGATION. Borrower shall immediately inform BANKFIRST of any material adverse change in its financial condition, or the financial condition of Guarantor, and shall promptly inform BANKFIRST of any litigation or threatened litigation or of the occurrence of any other event or circumstance which might substantially affect the financial condition or business of Borrower or Guarantor.