Common use of Defaults and Changes Clause in Contracts

Defaults and Changes. Borrower shall give prompt written notice if Borrower learns of the occurrence of (i) any event that constitutes an Event of Default or an Unmatured Default, together with a detailed statement of the steps being taken as a result thereof, or (ii) any Material Adverse Change.

Defaults and Changes. The Borrower shall give prompt written notice if the Borrower learns of the occurrence of (i) any event that constitutes a Default or an Event of Default or an Unmatured Default, together with a detailed statement of the steps being taken as a result thereof, or (ii) any Material Adverse Change.