Litigation Notices Clause Samples
Litigation Notices. Immediately and in any event within five (5) calendar days of becoming aware, give notice to the Lender of any arbitral, administrative or judicial litigation or proceeding affecting the Borrower or any of its Subsidiaries in which (i) the amount involved is at least US$500,000, (ii) in which injunctive or similar relief is sought or (iii) which relates to any Credit Document or (iv) which could reasonably be expected to have a Material Adverse Effect or the outcome of which could result in a Credit Event or otherwise affect the ability of the Borrower to contract with public entities or to bid for and obtain additional contracts, in each case regardless of the amount involved.
Litigation Notices. Each Loan Party shall give prompt notice to Lender of any litigation claiming in excess of One Hundred Thousand Dollars($100,000) from such Loan Party, or which may otherwise have a Material Adverse Effect.
Litigation Notices. Each Borrower shall give prompt notice to Lender of any litigation claiming in excess of One Hundred Thousand Dollars ($100,000), from such Borrower, or which may otherwise have a Material Adverse Effect.
Litigation Notices. Each Credit Party will, promptly upon receipt of knowledge thereof, notify the Administrative Agent of any litigation, claim, investigation, arbitration, other proceeding or controversy pending or, to its knowledge, threatened involving or affecting any Credit Party that, individually or in the aggregate, would reasonably be expected to result in a judgment for the payment of money equal to or in excess of the Threshold Amount.
Litigation Notices. Immediately and in any event within five (5) calendar days, give notice to the Lender of any arbitral, administrative or judicial litigation or proceeding affecting the Borrower or any of its Subsidiaries in which, to the extent of the Borrower’s knowledge, (i) the amount involved is at least US$500,000 (ii) in which injunctive or similar relief is sought or (iii) which relates to any Credit Document or (iv) which could reasonably be expected to have a Material Adverse Effect or the outcome of which could result in a Credit Event.
Litigation Notices. In the event a subpoena or other legal process including any notice, order, or inquiry from any state or federal regulatory authority concerning the Assets is served upon Seller, Seller agrees that it will notify Purchaser immediately upon receipt of such legal process and will cooperate in a lawful effort to comply with or contest the validity of the legal process.
Litigation Notices. Borrowers and Guarantors shall provide written notice to Lender of each investigation by any governmental agency that, to the knowledge of any Responsible Officer, is pending or threatened against or affects any Borrower or any other member of the Affiliated Borrower Group or their properties or business, and of each action, suit, proceeding or claim by any Person that, to the knowledge of any Responsible Officer, is pending or threatened against any Borrower or any other member of the Affiliated Borrower Group or their properties or business (other than future pending or threatened litigation involving the enforcement of lease obligations by or against Hanover as successor to The Horn & Hardart Company as to leased properties not used in or related to the business of Borrowers), or against or affecting any transaction contemplated by this Agreement, the other Financing Agreements, or other instruments, agreements or documents delivered in connection herewith or therewith, which could reasonably be expected to result in a determination adverse to any Borrower or any other member of the Affiliated Borrower Group, and which, if so adversely determined with respect to any of them, would result in either (i) a fine, judgment, penalty, loss or liability, including costs and attorneys' fees, not covered by insurance, which, individually, exceeds Three Hundred Thousand Dollars ($300,000) or (ii) any material adverse change in the business, assets, liabilities or financial condition of any Borrower or of the Affiliated Borrower Group taken as a
Litigation Notices. Subpart (a) of Section 6.2 of the Credit Agreement is deleted and is replaced by the following:
(a) all legal or arbitration proceedings, and of all proceedings by or before any Governmental Authority affecting the Borrower or any of its Subsidiaries which, if adversely determined, might result in a monetary loss (regardless of whether any portion of such loss is covered by insurance) to the Borrower or any such Subsidiary in an amount in excess of 1% of Consolidated Total Assets individually or in excess of 5% of Consolidated Total Assets in the aggregate for all such proceedings; and
Litigation Notices. Borrower shall give prompt written notice to Lender of any litigation, arbitration or other proceedings or governmental investigation pending or threatened against Borrower, Mortgage Borrower or Operating Lessee which is reasonably likely to have a Material Adverse Effect.
Litigation Notices. 99 SECTION 7.