Common use of Adverse Conditions or Events Clause in Contracts

Adverse Conditions or Events. Promptly advise Guarantor in writing of (i) any condition, event or act which comes to its attention that would or might materially adversely affect the Guarantor’s rights under this Agreement or the Warrant, (ii) any litigation in excess of $500,000 is filed by or against Company or (iii) any event that has occurred that would constitute an event of default under the Loan Agreement.

Adverse Conditions or Events. Promptly advise the Guarantor orally or in writing of (i) any condition, event or act which comes to its attention that would or might materially adversely affect the Guarantor’s rights under this Agreement or the Warrant, and (ii) any litigation in excess of $500,000 is filed by or against Company Company, or (iii) any event that has occurred that would constitute an event of default under the Loan Agreement.