Common use of Material Occurrences Clause in Contracts

Material Occurrences. Promptly notify Agent in writing upon the occurrence of (a) any Event of Default or Default; (b) any event, development or circumstance whereby any financial statements or other reports furnished to Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied, the consolidated financial condition or operating results of Borrower as of the date of such statements; (c) any accumulated retirement plan funding deficiency which, if such deficiency continued for two plan years and was not corrected as provided in Section 4971 of the Code, could subject any Credit Party to a tax imposed by Section 4971 of the Code resulting in a Material Adverse Effect; (d) each and every default by Borrower which would result in the acceleration of the maturity of any Indebtedness in excess of $50,000, including the names and addresses of the holders of such Indebtedness with respect to which there is a default existing or with respect to which the maturity has been or could be accelerated, and the amount of such Indebtedness; and (e) any other development in the business or affairs of any Credit Party, which would have a Material Adverse Effect; in each case describing the nature thereof and the action such Credit Party proposes to take with respect thereto.

Material Occurrences. Promptly notify Agent in writing upon the occurrence of (a) any Event of Default or Default; (b) any event, development or circumstance whereby any financial statements or other reports furnished to Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied, the consolidated financial condition or operating results of Borrower any Loan Party as of the date of such statements; (c) any accumulated retirement plan funding deficiency which, if such deficiency continued for two plan years and was not corrected as provided in Section 4971 of the Code, could subject any Credit Loan Party to a tax imposed by Section 4971 of the Code resulting in a Material Adverse EffectCode; (d) each and every default by Borrower any Loan Party which would might result in the acceleration of the maturity of any Indebtedness for Money Borrowed in a principal amount in excess of $50,0001,000,000, including the names and addresses of the holders of such Indebtedness for Money Borrowed with respect to which there is a default existing or with respect to which the maturity has been or could be accelerated, and the amount of such IndebtednessIndebtedness for Money Borrowed; and (e) any other development in the business or affairs of any Credit Party, Loan Party which would could reasonably be expected to have a Material Adverse Effect; in each case describing the nature thereof and the action such Credit Party proposes Loan Parties propose to take with respect thereto.

Material Occurrences. Promptly notify Agent in writing upon the occurrence of (a) any Event of Default or Default; (b) any event, development or circumstance whereby any financial statements or other reports furnished to Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied, the consolidated financial condition or operating results of Borrower any Parent Holdco and its Subsidiaries as of the date of such statements; (c) any accumulated retirement plan funding deficiency which, if such deficiency continued for two plan years and was not corrected as provided in Section 4971 of the Code, could subject any Credit Loan Party to a tax imposed by Section 4971 of the Code resulting in a Material Adverse EffectCode; (d) each and every default by Borrower any Loan Party which would might result in the acceleration of the maturity of any Indebtedness in excess of $50,0002,000,000 in principal amount, including the names and addresses of the holders of such Indebtedness with respect to which there is a default existing or with respect to which the maturity has been or could be accelerated, and the amount of such Indebtedness; and (e) any other development in the business or affairs of any Credit Loan Party, which would could reasonably be expected to have a Material Adverse Effect; in each case describing the nature thereof and the action such Credit Loan Party proposes to take with respect thereto.

Material Occurrences. Promptly Immediately notify Agent in writing upon the occurrence of of: (a) any Event of Default or Default; , (b) any event, development or circumstance whereby any financial statements or other reports furnished to Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied, the consolidated financial condition or operating results of Borrower any Loan Party as of the date of such statements; (c) any accumulated retirement plan funding deficiency which, if such deficiency continued for two plan years and was not corrected as provided in Section 4971 of the Code, could subject any Credit Loan Party to a tax imposed by Section 4971 of the Code resulting in a Material Adverse EffectCode; (d) each and every default by Borrower any Loan Party which would might result in the acceleration of the maturity of any Indebtedness in excess of $50,000Indebtedness, including the names and addresses of the holders of such Indebtedness with respect to which there is a default existing or with respect to which the maturity has been or could be accelerated, and the amount of such Indebtedness; and (e) any other development in the business or affairs of any Credit Loan Party, which would have could reasonably be expected to result in a Material Adverse EffectChange; in each case describing the nature thereof and the action such Credit Party proposes Loan Parties propose to take with respect thereto.

Material Occurrences. Promptly notify Agent in writing upon the occurrence of (a) any Event of Default or Default; (b) any event, development or circumstance whereby any financial statements or other reports furnished to Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied, the consolidated financial condition or operating results of Borrower any Loan Party as of the date of such statements; (c) any accumulated retirement plan funding deficiency which, if such deficiency continued for two plan years and was not corrected as provided in Section 4971 of the Code, could subject any Credit Loan Party to a tax imposed by Section 4971 of the Code resulting in a Material Adverse EffectCode; (d) each and every default by Borrower any Loan Party which would might result in the acceleration of the maturity of any Indebtedness in excess of $50,000Indebtedness, including the names and addresses of the holders of such Indebtedness with respect to which there is a default existing or with respect to which the maturity has been or could be accelerated, and the amount of such Indebtedness; and (e) any other development in the business or affairs of any Credit Loan Party, which would could reasonably be expected to have a Material Adverse Effect; in each case describing the nature thereof and the action such Credit Party proposes Loan Parties propose to take with respect thereto.

Material Occurrences. Promptly Each Credit Party shall, promptly notify Agent in writing upon the occurrence of (a) any Event of Default or Default; (b) any event, development or circumstance whereby any financial statements or other reports furnished to Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied, the consolidated financial condition or operating results of Borrower such Credit Party as of the date of such statements; (c) any accumulated retirement plan funding deficiency which, if such deficiency continued for two plan years and was not corrected as provided in Section 4971 of the Code, could subject any such Credit Party to a tax imposed by Section 4971 of the Code resulting in a Material Adverse EffectCode; (d) each and every default by Borrower such Credit Party which would might result in the acceleration of the maturity of any Indebtedness in excess of $50,000100,000, including the names and addresses of the holders of such Indebtedness with respect to which there is a default existing or with respect to which the maturity has been or could be accelerated, and the amount of such Indebtedness; and (e) any other development in the business or affairs of any such Credit Party, Party which would could reasonably be expected to have a Material Adverse Effect; in each case describing the nature thereof and the action such Credit Party proposes to take with respect thereto.