Common use of Notice of Default, Litigation and ERISA Matters Clause in Contracts

Notice of Default, Litigation and ERISA Matters. Immediately upon learning of the occurrence of any of the following, written notice describing the same and the steps being taken by the Borrower or any subsidiary affected in respect thereof: (i) the occurrence of any Event of Default or any event or condition which with the passage of time or the giving of notice, or both, might become an Event of Default; or (ii) the institution of, or any adverse determination in, any litigation, arbitration or governmental proceeding which is material to the Borrower, or (iii) the occurrence of a reportable event under, or the institution of any steps by Borrower to withdraw from, or the institution of any proceedings to terminate, any employee benefit plans as to which the Borrower may have any liability.

Notice of Default, Litigation and ERISA Matters. Immediately upon learning of the occurrence of any of the following, written notice describing the same and the steps being taken by the Borrower or any subsidiary Subsidiary affected in respect thereof: (i) the occurrence of any an Event of Default or any event or condition which with the passage of time or the giving of notice, or both, might become an Unmatured Event of Default; or (ii) the institution of, or any adverse determination in, any litigation, arbitration or governmental proceeding which is material to the Borrower, Borrower or any Subsidiary on a consolidated basis; or (iii) the occurrence of a reportable event under, or the institution of any steps by Borrower or any Subsidiary to withdraw from, or the institution of any proceedings steps to terminate, any employee benefit plans as to which the Borrower or any of its Subsidiaries may have any liability.

Notice of Default, Litigation and ERISA Matters. Immediately upon learning of the occurrence of any of the following, written notice describing the same and the steps being taken by the Borrower or any subsidiary affected in respect thereof: (i) the occurrence of any an Event of Default or any event or condition which with the passage of time or the giving of notice, or both, might become an Unmatured Event of Default; or (ii) the institution of, or any adverse determination in, any litigation, arbitration or governmental proceeding which is material to the Borrower, Borrower or any subsidiary on a consolidated basis; or (iii) the occurrence of a reportable event under, or the institution of any steps by the Borrower or any subsidiary to withdraw from, or the institution of any proceedings steps to terminate, any employee benefit plans as to which the Borrower or any of its subsidiaries may have any liability.