Litigation Notices Sample Clauses

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. 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. 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. 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. 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. Borrower shall notify Agent in writing, after it has actual knowledge thereof, of any litigation (a) which is pending against the Borrower or a Guarantor and where the amount in controversy exceeds One Million Dollars ($1,000,000), or against an Entity in which the amount in controversy exceeds Five Hundred Thousand Dollars ($500,000) and (b) threatened in writing against Borrower, a Guarantor or an Entity in which the amount in controversy exceeds Ten Million Dollars ($10,000,000), and which Borrower reasonably believes is not covered entirely by insurance (“Reportable Litigation”). As of the date hereof, except as described on Exhibit J, Borrower certifies that to the best of its knowledge there is no Reportable Litigation.

Litigation Notices. 99 SECTION 7.

Litigation Notices. Except as promptly disclosed in writing to Lender, there is no action, suit, proceeding, investigation or inquiry affecting or instituted, pending or threatened against, the Borrower or any property or business of the Borrower. The Borrower shall give to the Lender prompt written notice of the following events as to which the Borrower has received notice or otherwise become aware thereof: (a) the commencement of all proceedings and investigations by or before any governmental body and all actions and proceedings in any court or before any arbitrator against or, to the extent known to the Borrower, in any other way relating adversely and directly to the Borrower (Borrower is a party), or any of its properties, assets or businesses (i) in which the recovery sought is in excess of $100,000 unless the claim is covered by insurance from a third party insurer (other than an Affiliate) and such insurer has affirmatively agreed that such claim is covered by such insurance (to the extent the loss exceeds deductible amounts, which deductible amounts shall not exceed $10,000 per occurrence); (ii) which, in the case of proceedings in any court or before any arbitrator, if adversely determined, could have a Materially Adverse Effect; (iii) which, in the case of proceedings by or before any governmental body which in the reasonable judgment of the Borrower may be determined adversely to the Borrower, and if so determined could have a Materially Adverse Effect, or (iv) which calls into question the validity of this Agreement or any other Loan Document; (b) any occurrence of an event which has a Materially Adverse Effect on the Borrower or the Guarantors; (c) any Event of Default; any default by the Borrower under any material agreement (other than this Agreement) to which the Borrower is party or by which any of its properties is bound, including, without limitation, any default under any agreement to borrow money in a principal amount of $100,000 or more; or the occurrence of any event which could have a Materially Adverse Effect on the Borrower giving in each case the details thereof and specifying the action proposed to be taken with respect thereto; and (d) any material decrease in the amounts of insurance coverage maintained by the Borrower from that existing as of the Commitment Date.

Litigation Notices. Each Loan Party (but, prior to a JetPay Dallas Pledge Event, excluding JetPay Dallas) 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.