Common use of Disclosable Events Clause in Contracts

Disclosable Events. If the REIT or the Borrower obtains knowledge or receives any notice that any Group Member or REIT Controlled Affiliate is in violation of Section 7.21(a), (b) or (c), including any such violation that could result in the forfeiture of any Collateral or the proceeds of the Loans or a claim of forfeiture of any Collateral or the proceeds of the Loans (any such violation, a “Disclosable Event”), the Borrower shall promptly (i) give written notice to the Administrative Agent of such Disclosable Event and (ii) comply with all applicable laws with respect to such Disclosable Event. The Borrower hereby authorizes and consents to the Administrative Agent and each Lender taking any and all steps the Administrative Agent or such Lender deems necessary, in its sole but reasonable discretion, to avoid a violation of all applicable laws with respect to any such Disclosable Event.

Disclosable Events. If the REIT any Borrower or the Borrower Guarantor obtains knowledge Knowledge or receives any written notice that any Group Member Loan Party or REIT Controlled Affiliate is in violation of Section 7.21(a6.22(a), (b6.22(b) or (c), including any such violation that could result in the forfeiture of any Collateral or the proceeds of the Loans or a claim of forfeiture of any Collateral or the proceeds of the Loans (any such violation, a “Disclosable Event”), such Borrower or the Borrower Guarantor shall promptly (i) give written notice to the Administrative Agent of such Disclosable Event and (ii) comply with all applicable laws with respect to such Disclosable Event. The Each Borrower or the Guarantor hereby authorizes and consents to the Administrative Agent and each Lender taking any and all steps the Administrative Agent or such Lender deems necessary, in its sole but reasonable discretion, to avoid a violation of all applicable laws with respect to any such Disclosable Event.

Disclosable Events. If the REIT or the Borrower obtains knowledge or receives any notice that any Group Member or REIT Controlled Affiliate is in violation of Section 7.21(a), (b) or (c), including any such violation that could result in the forfeiture of any Collateral Borrowing Base Property or the proceeds of the Loans or a claim of forfeiture of any Collateral Borrowing Base Property or the proceeds of the Loans (any such violation, a “Disclosable Event”), the Borrower shall promptly (i) give written notice to the Administrative Agent of such Disclosable Event and (ii) comply with all applicable laws with respect to such Disclosable Event. The Borrower hereby authorizes and consents to the Administrative Agent and each Lender taking any and all steps the Administrative Agent or such Lender deems necessary, in its sole but reasonable discretion, to avoid a violation of all applicable laws with respect to any such Disclosable Event.

Disclosable Events. If the REIT Borrower or the Borrower any Guarantor obtains knowledge Knowledge or receives any written notice that any Group Member Loan Party or REIT Controlled Affiliate is in violation of Section 7.21(a6.15(a), (b) or (c), including any such violation that could result in the forfeiture of any Collateral or the proceeds of the Loans or a claim of forfeiture of any Collateral or the proceeds of the Loans (any such violation, a “Disclosable Event”), the Borrower or such Guarantor shall promptly (i) give written notice to the Administrative Agent of such Disclosable Event and (ii) comply with all applicable laws with respect to such Disclosable Event. The Borrower and the Guarantors hereby authorizes authorize and consents consent to the Administrative Agent and each Lender taking any and all steps the Administrative Agent or such Lender deems necessary, in its sole but reasonable discretion, to avoid a violation of all applicable laws with respect to any such Disclosable Event.