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 provided to Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied (except for changes in GAAP or in the application of GAAP to which the Loan Parties’ independent certified public accountants concur), the financial condition or operating results of any Loan Party as of the date of such statements; (c) any funding deficiency which, if not corrected as provided in Section 4971 of the Code, could subject any Loan Party or any member of the Controlled Group to a tax imposed by Section 4971 of the Code; (d) each and every default by any Loan Party which would result in the acceleration of the maturity of any material Indebtedness, 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 Loan Party, which would reasonably be expected to have a Material Adverse Effect; in each case as to clauses (a) through (e) of this Section 9.5, describing the nature thereof and the action the Loan Parties propose to take with respect thereto.

Material Occurrences. Promptly notify Agent in writing upon the occurrence of: of (a) any Event of Default or Default; (b) any event of default under the CMP Subordinated Payable Documentation, or any event which with the giving of notice or lapse of time, or both, would constitute an event of default under the CMP Subordinated Payable Documentation; (c) event, development or circumstance whereby any financial statements or other reports provided furnished to Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied (except for changes in GAAP or in the application of GAAP to which the Loan Parties’ independent certified public accountants concur)applied, the financial condition or operating results of any the Loan Party Parties as of the date of such statements; (cd) 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 the Loan Party or any member of the Controlled Group Parties to a tax imposed by Section 4971 of the Code; (de) each and every default by any Loan Party which would might result in the acceleration of the maturity of any material Indebtedness, 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 (ef) any other development in the business or affairs of any Loan PartyParty or CMP, which would could reasonably be expected to have a Material Adverse Effect; in each case as to clauses (a) through (e) of this Section 9.5, describing the nature thereof and the action the Loan Parties propose to take with respect thereto.

Material Occurrences. Promptly notify Agent in writing upon the occurrence of: of (a) any Event of Default or Default; (b) any event of default under the Subordinated Loan Documentation; (c) any event, development or circumstance whereby any financial statements or other reports provided furnished to Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied (except for changes in GAAP or in the application of GAAP to which the Loan Parties’ independent certified public accountants concur)applied, the financial condition or operating results of any Loan Party as of the date of such statements; (cd) 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 Loan Party or any member of the Controlled Group to a tax imposed by Section 4971 of the Code; (de) each and every default by any Loan Party which would might result in the acceleration of the maturity of any material Indebtedness, 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 (ef) any other development in the business or affairs of any Loan PartyParty or any Guarantor, which would could reasonably be expected to have a Material Adverse Effect; in each case as to clauses (a) through (e) of this Section 9.5, describing the nature thereof and the action the 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 provided furnished to Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied (except for changes in GAAP or in the application of GAAP to which the Loan Parties’ independent certified public accountants concur)applied, the financial condition or operating results of 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 Loan Party or any member of the Controlled Group to a tax imposed by Section 4971 of the Code; (d) each and every default by any Loan Party which would could reasonably be expected to result in the acceleration of the maturity of any material IndebtednessIndebtedness with a then-outstanding principal balance of $10,000,000 or more, 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 Loan Party, which would reasonably be expected to have a Material Adverse Effect; in each case as to clauses (a) through (e) of this Section 9.5, describing the nature thereof and the action the Loan Parties Borrowers propose to take with respect thereto.. 159

Material Occurrences. Promptly notify the 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 provided furnished to the Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied (except for changes in GAAP or in the application of GAAP to which the Loan Parties’ independent certified public accountants concur)applied, the financial condition or operating results of any the Loan Party Parties on a consolidated and consolidating basis as of the date of such statements; (c) any accumulated retirement plan funding deficiency which, if such deficiency continued for two (2) plan years and was not corrected as provided in Section 4971 of the Code, could subject any Loan Party or any member of the Controlled Group to a tax imposed by Section 4971 of the Code; (d) each and every default by any Loan Party which would reasonably be expected to result in the acceleration of the maturity of any material Indebtedness, 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 Loan Party, Party which would could reasonably be expected to have a Material Adverse Effect; in each case as case, to clauses (a) through (e) of this Section 9.5the extent permitted by applicable law, describing the nature thereof and the action the Loan Parties propose to take with respect thereto.

Material Occurrences. Promptly notify Agent in writing upon the occurrence of: of (a) any Event of Default or Default with such notice stating that it is a "Notice of Default"; (b) any event of default under the First Lien Loan Documents; (c) any event which with the giving of notice or lapse of time, or both, would constitute an event of default under the First Lien Loan Documents; (d) any event, development or circumstance whereby any financial statements or other reports provided furnished to Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied (except for changes in GAAP or in the application of GAAP to which the Loan Parties’ independent certified public accountants concur)applied, the financial condition or operating results of any Loan Party as of the date of such statements; (ce) 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 CodeIRC, could subject any Loan Party or any member of the Controlled Group to a tax imposed by Section 4971 of the CodeIRC; (df) each and every default by any Loan Party which would might result in the acceleration of the maturity of any material Indebtedness, 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 (eg) any other development in the business or affairs of any Loan Party, Party which would could reasonably be expected to have a Material Adverse Effect; in each case as to clauses (a) through (e) of this Section 9.5, describing the nature thereof and the action the Loan Parties propose to take with respect thereto.

Material Occurrences. Promptly notify Agent the Lender 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 provided furnished to Agent the Lender fail in any material respect to present fairly, in accordance with GAAP consistently applied (except for changes in GAAP or in the application of GAAP to which the Loan Parties’ independent certified public accountants concur)applied, the financial condition or operating results of any Loan Party BTL and its Subsidiaries on a consolidated basis as of the date of such statements; (c) any accumulated retirement plan funding deficiency which, if such deficiency continued for two (2) plan years and was not corrected as provided in Section 4971 of the Code, could subject any Loan Party or any member of the Controlled Group to a tax imposed by Section 4971 of the Code; (d) each and every default by any Loan Party which would reasonably be expected to result in the acceleration of the maturity of any material Indebtedness, 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 Loan Party, Party which would could reasonably be expected to have a Material Adverse Effect; in each case as case, to clauses (a) through (e) of this Section 9.5the extent permitted by applicable law, describing the nature thereof and the action the Loan Parties propose to take with respect thereto.

Material Occurrences. Promptly notify Collateral 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 provided furnished to Collateral Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied (except for changes in GAAP or in the application of GAAP to which the Loan Parties’ independent certified public accountants concur)applied, the financial condition or operating results of any Loan Party Parties 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 Loan Party or any member of the Controlled Group to a tax imposed by Section 4971 of the Code; (d) each and every default by Loan Parties, or any Loan Party of them, which would be reasonably likely to result in the acceleration of the maturity of any material Indebtedness, 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 Loan Parties, or any Loan Partyof them, which would could reasonably be expected to have a Material Adverse Effect; in each case as to clauses (a) through (e) of this Section 9.5, describing the nature thereof and the action the Loan Parties propose to take with respect thereto.

Material Occurrences. Promptly Immediately 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 provided to Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied (except for changes in GAAP or in the application of GAAP to which the Loan Parties’ independent certified public accountants concur)applied, the financial condition or operating results of any Loan Party as of the date of such statements; (c) any funding deficiency which, if not corrected as provided in Section 4971 of the Code, could subject any Loan Party or any member of the Controlled Group to a tax imposed by Section 4971 of the Code; (d) each and every default by any Loan Party which would might result in the acceleration of the maturity of any material IndebtednessIndebtedness which could result in an Event of Default, 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 Loan Party, which would could reasonably be expected to have a Material Adverse Effect; in each case as to clauses (a) through (e) of this Section 9.5, describing the nature thereof and the action the Loan Parties propose to take with respect thereto.