Common use of Notice of Adverse Events Clause in Contracts

Notice of Adverse Events. Promptly notify Lender in writing of the occurrence or existence of any of the following: (a) any Event of Default as defined in this Agreement or any event which, with the giving of notice, lapse of time or other condition, would become such an Event of Default; (b) any matter or event which has resulted in, or may result in, a material adverse change in the financial condition or any property or operations of Borrower; (c) any material claim, action, proceeding or investigation filed or instituted against Borrower, or any adverse determination in any material pending action, proceeding or investigation affecting it; (d) any loss from casualty or theft in excess of Fifty Thousand Dollars ($50,000), whether or not insured, affecting property of Borrower; (e) whether or not otherwise reportable under this Section 5.4, any complaint, citation, order or other notice of a violation or a claim involving any of the following, if the liability or penalty therefor may exceed One Hundred Thousand Dollars ($100,000) singly or in the aggregate: any applicable federal, state or local statute, rule, regulation, order or other provision of law relating to air emissions, water discharge, noise emissions, solid or liquid disposal, hazardous waste or substances, or other environmental, health or safety matters (the notice to Lender to include, along with other relevant information, the name of the complainant or claimant and the nature and potential amount of the claim); (f) any event or condition described in Section 8.15 of this Agreement relating to ERISA; or (g) if any of the representations and warranties contained in this Agreement, or in any of the Relevant Documents or any other writing delivered to Lender by Borrower in connection with this Agreement or any of the transactions contemplated thereby, ceases to be true, correct and complete.

Notice of Adverse Events. Promptly notify Lender Secured Party in writing of the occurrence or existence of any of the following: (a) any Event of Default as defined in this Agreement or any event which, with the giving of notice, lapse of time or both, or the occurrence of any other condition, would become such an Event of Default; (b) any matter or event which has resulted in, or may reasonably be expected to result in, a material adverse change in the financial condition or any property or operations of Borrower; Material Adverse Change, (c) any material claim, action, proceeding or investigation Claim filed or instituted made against Borrowerany member of the Debtor Group or relating to its operations, or any adverse determination in or regarding any material pending action, proceeding or investigation affecting itClaim; (d) any loss from casualty or theft in excess of Fifty Five Hundred Thousand Dollars ($50,000), whether or 500,000) if not insured, or in excess of One Million Dollars ($1,000,000) even if insured affecting property of Borrowerits assets; (e) whether or not otherwise reportable under this Section 5.46.13, any violation by it of any environmental Law, or any complaint, citation, order or other notice of a violation or a claim Claim involving any of the followingenvironmental Law, if the cost of cleanup or remediation, liability or penalty therefor relating thereto may exceed One Five Hundred Thousand Dollars ($100,000500,000) singly or in the aggregate: any applicable federal, state or local statute, rule, regulation, order or other provision of law relating to air emissions, water discharge, noise emissions, solid or liquid disposal, hazardous waste or substances, or other environmental, health or safety matters aggregate (the notice to Lender Secured Party to include, along with other relevant information, the name of the any complainant or claimant and the nature and and, if known, potential amount of the claim); (f) any event or condition described in Section 8.15 of this Agreement material Claim relating to ERISA; or (g) if any of the representations and warranties contained in this Agreement, Agreement or in any of the Relevant Documents or any other writing delivered to Lender by Borrower in connection with this Agreement or any of the transactions contemplated thereby, ceases to be materially true, correct and complete. With respect to any such matters, Debtor shall provide to Secured Party promptly after receipt, a copy of any complaint, citation, order or other notice of a material violation or material Claim required to be reported pursuant to this Section.

Notice of Adverse Events. Promptly notify Lender Lender, in writing writing, of the occurrence or existence of any of the following: (a) any Event of Default as defined in this Agreement or any event which, with the giving of notice, the lapse of time time, or other conditionboth, would become such an Event of Default; , (b) any matter or event which has resulted in, or may result in, a material adverse change in the condition (financial condition or any property otherwise), results of operations, assets or operations of Borrower; any member of the Inmark Group, (c) any material claim, action, proceeding or investigation filed or instituted against Borroweragainst, or relating to the operations of, any member of the Inmark Group, or any adverse determination in any material pending action, proceeding or investigation affecting it; any member of the Inmark Group, (d) any loss from casualty or theft in excess of Fifty Thousand Dollars ($50,000), whether or 50,000 if not insured, or in excess of $150,000 even if insured, affecting property the assets of Borrower; any member of the Inmark Group, (e) whether or not otherwise reportable under this Section 5.4section 4.4, any violation by any member of the Inmark Group of any Environmental Law, or any complaint, citation, order or other notice of a violation or a claim involving any Environmental Law (together with a copy of the followingany complaint, citation, order or other notice of a violation or claim relating thereto), if the liability or penalty therefor may exceed One Hundred Thousand Dollars ($100,000) 50,000 singly or in the aggregate: any applicable federal, state or local statute, rule, regulation, order or other provision of law relating to air emissions, water discharge, noise emissions, solid or liquid disposal, hazardous waste or substances, or other environmental, health or safety matters aggregate (the notice to Lender to include, along with other relevant information, the name of the any complainant or claimant and the nature and (if known) potential amount of the claim); , (f) whether or not otherwise reportable under this section 4.4, the occurrence or expected occurrence of any event or condition described "reportable event" as defined in Section 8.15 4043 of this Agreement ERISA, or a non-exempt "prohibited transaction" as defined in Section 406 of ERISA or Section 4975 of the Code, (together with a copy of any complaint, citation, order or other notice of a violation or claim relating thereto), other than those occurrences that individually or in the aggregate would not result in a liability of or to ERISA; one or more member of the Inmark Group in excess of $25,000, (g) if any of the representations and warranties made by any member of the Inmark Group contained in this Agreement, or in any of the Relevant Documents Loan Document or any other writing Document delivered to Lender by Borrower or on behalf of any member of the Inmark Group in connection with this Agreement any Loan Documents or any of the transactions contemplated thereby, ceases to be true, complete and correct and complete(h) if any member of Management ceases to be employed full time for any reason by a member of the Inmark Group in substantially the same capacity as he is employed on the Closing Date.