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 (after giving effect to any reconciliation required to accompany such financial statements pursuant to Section 1.1), the financial condition or operating results of any 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; (d) each and every default by any Credit Party that might result in the acceleration of the maturity of any Funded Debt, including the names and addresses of the holders of such Funded Debt 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 Funded Debt; and (e) any other development in the business or affairs of any Credit Party that could reasonably be expected to have a Material Adverse Effect; in each case describing the nature thereof and the action the Credit Parties propose to take with respect thereto.

Material Occurrences. Promptly (but in any event within five (5) Business Days thereafter) 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 (after giving effect to any reconciliation required to accompany such financial statements pursuant to Section 1.1)applied, the financial condition or operating results of any Borrower Loan Party or any Subsidiary 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 (2) plan years and was not corrected as provided in Section 4971 of the Code, could subject any Credit Loan Party or any Subsidiary of any Loan Party to a tax imposed by Section 4971 of the Code; (d) each and every default by any Credit Loan Party that or any Subsidiary of any Loan Party which might result in the acceleration of the maturity of any Funded DebtIndebtedness, including the names and addresses of the holders of such Funded Debt 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 Funded DebtIndebtedness; and (e) any other development in the business or affairs of any Credit Loan Party that or any Subsidiary of any Loan Party which could reasonably be expected to have have, either individually or in the aggregate, a Material Adverse Effect; in each case describing the nature thereof and the action the Credit Loan Parties or such Subsidiaries propose to take with respect thereto.

Material Occurrences. Promptly (but in any event within five (5) Business Days thereafter) 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 (after giving effect to any reconciliation required to accompany such financial statements pursuant to Section 1.1)applied, the financial condition or operating results of any Borrower Loan Party or any Subsidiary 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 Credit Loan Party or any Subsidiary of any Loan Party to a tax imposed by Section 4971 of the Code; (d) each and every default by any Credit Loan Party that or any Subsidiary of any Loan Party which might result in the acceleration of the maturity of any Funded DebtIndebtedness, including the names and addresses of the holders of such Funded Debt 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 Funded DebtIndebtedness; and (e) any other development in the business or affairs of any Credit Loan Party that or any Subsidiary of any Loan Party which could reasonably be expected to have a Material Adverse Effect; in each case describing the nature thereof and the action the Credit Loan Parties or such Subsidiaries propose to take with respect thereto.

Material Occurrences. Promptly Immediately notify Agent in writing upon the occurrence of of: (a) any Event of Default or DefaultDefault hereunder or any Ex-Im Event of Default or Ex-Im Default under the Ex-Im Subfacility Credit Agreement; (b) any event of default under the agreements evidencing and/or governing the Permitted DNI Subordinated Loans; (c) any event which with the giving of notice or lapse of time, or both, would constitute an event of default under the agreements evidencing and/or governing the Permitted DNI Subordinated Loans; (d) any event, development or circumstance whereby any financial statements or other reports furnished delivered to Agent fail in any material respect to present fairly, in accordance with GAAP consistently applied (after giving effect to any reconciliation required to accompany such financial statements pursuant to Section 1.1)applied, the financial condition or operating results of any Borrower Company 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 Code, could subject any Credit Party Company or any member of the Controlled Group to a tax imposed by Section 4971 of the Code; (df) each and every default by any Credit Party that Company which might result in the acceleration of the maturity of any Funded DebtIndebtedness, including the names and addresses of the holders of such Funded Debt 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 Funded DebtIndebtedness; and (eg) any other development in the business or affairs of any Credit Party that Loan Party, which could reasonably be expected to have a Material Adverse Effect; in each case describing the nature thereof and the action the Credit Parties Companies 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 (after giving effect to any reconciliation required to accompany such financial statements pursuant to Section 1.1)applied, the financial condition or operating results of any Borrower Loan Party or its Subsidiaries as of the date of such statements; (c) any accumulated retirement plan funding deficiency under Section 412 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 , any Subsidiary of any Loan Party or any member of the Controlled Group of a Loan Party to a tax imposed by Section 4971 of the Code; (d) each and every default by any Credit Loan Party that or Subsidiary of a Loan Party which might result in the acceleration of the maturity of any Funded DebtIndebtedness, including the names and addresses of the holders of such Funded Debt 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 Funded DebtIndebtedness; and (e) any other development in the business or affairs of any Credit Loan Party that or Subsidiary of any Loan Party which could reasonably be expected to have a Material Adverse Effect; in each case describing the nature thereof and the action the Credit Parties that such Persons propose to take with respect thereto.

Material Occurrences. Promptly (but in any event within five (5) Business Days thereafter) notify Agent in writing upon the occurrence of (alxvi) any Event of Default or Default; (blxvii) any event, development or 125 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 (after giving effect to any reconciliation required to accompany such financial statements pursuant to Section 1.1)applied, the financial condition or operating results of any Borrower Loan Party or any Subsidiary of any Loan Party as of the date of such statements; (clxviii) 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 Credit Loan Party or any Subsidiary of any Loan Party to a tax imposed by Section 4971 of the Code; (dlxix) each and every default by any Credit Loan Party that or any Subsidiary of any Loan Party which might result in the acceleration of the maturity of any Funded DebtIndebtedness, including the names and addresses of the holders of such Funded Debt 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 Funded DebtIndebtedness; and (elxx) any other development in the business or affairs of any Credit Loan Party that or any Subsidiary of any Loan Party which could reasonably be expected to have have, either individually or in the aggregate, a Material Adverse Effect; in each case describing the nature thereof and the action the Credit Loan Parties or such Subsidiaries propose to take with respect thereto.

Material Occurrences. Promptly (but in any event within five (5) Business Days thereafter) notify Agent the Lender 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 the Lender fail in any material respect to present fairly, in accordance with GAAP consistently applied (after giving effect to any reconciliation required to accompany such financial statements pursuant to Section 1.1)applied, the financial condition or operating results of any Borrower Loan Party or any Subsidiary 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 (2) plan years and was not corrected as provided in Section 4971 of the Code, could subject any Credit Loan Party or any Subsidiary of any Loan Party to a tax imposed by Section 4971 of the Code; (d) each and every default by any Credit Loan Party that or any Subsidiary of any Loan Party which might result in the acceleration of the maturity of any Funded DebtIndebtedness, including the names and addresses of the holders of such Funded Debt 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 Funded DebtIndebtedness; and (e) any other development in the business or affairs of any Credit Loan Party that or any Subsidiary of any Loan Party which could reasonably be expected to have have, either individually or in the aggregate, a Material Adverse Effect; in each case describing the nature thereof and the action the Credit Loan Parties or such Subsidiaries propose to take with respect thereto.