Common use of Notice of Default, Litigation and Material Adverse Effect Clause in Contracts

Notice of Default, Litigation and Material Adverse Effect. Promptly, and in any event within three Business Days after any officer of the Borrower or any of its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event which constitutes a Default or an Event of Default, (ii) any litigation or governmental investigation or proceeding pending against the Borrower or any of its Subsidiaries (A) which, either individually or in the aggregate, has had, or could reasonably be expected to have, a Material Adverse Effect or (B) with respect to any Document, (iii) the adoption of any law, rule or regulation after the date of this Agreement or any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the date of this Agreement relating to any Third Party Payor Arrangement that could reasonably be expected to have a material and adverse effect on the ability of the Borrower or any Subsidiary to carry on its business as now conducted or as proposed to be conducted, (iv) the receipt by the Borrower or any Subsidiary of (x) any notice of any loss of (A) accreditation from the Joint Commission on Accreditation of Healthcare Organizations or (B) any governmental right, qualification, permit, accreditation, approval, authorization, Reimbursement Approval, license or franchise or (y) any notice, compliance order or adverse report issued by any Governmental Authority or Third Party Payor that, in each case, if not promptly complied with or cured, could result in (I) the suspension or forfeiture of any material governmental right, qualification, permit, accreditation, approval, authorization, Reimbursement Approval, license or franchise necessary for the Borrower or any Subsidiary to carry on its business as now conducted or as proposed to be conducted or (II) any other material Limitation imposed upon the Borrower or any Subsidiary, or (v) any other event, change or circumstance that has had, or could reasonably be expected to have, a Material Adverse Effect.

Notice of Default, Litigation and Material Adverse Effect. Promptly, and in any event within three five (5) Business Days after any officer Authorized Officer of the Administrative Borrower or any of its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event which constitutes a Default or an Event of Default, (ii) any litigation or governmental litigation, investigation or proceeding pending against the Administrative Borrower or any of its Restricted Subsidiaries (Ax) which, either individually or in the aggregate, has had, or could a reasonable likelihood of adverse determination and such adverse determination would reasonably be expected to have, a Material Adverse Effect or (By) with respect to any Credit Document, (iii) the adoption filing or commencement of any lawaction, rule suit or regulation after proceeding by or before any arbitrator, the date of this Agreement FCC or any change in any law, rule or regulation or in the interpretation or application thereof by any other Governmental Authority after against or affecting the date of this Agreement relating to Administrative Borrower or any Third Party Payor Arrangement that could Affiliate thereof that, if adversely determined, would reasonably be expected to have result in a material and adverse effect on the ability of the Borrower or any Subsidiary to carry on its business as now conducted or as proposed to be conductedMaterial Adverse Effect, (iv) the receipt by the Borrower or any Subsidiary of (x) any notice of material admonition, censure or adverse citation or order by the FCC or any loss of (A) accreditation from the Joint Commission on Accreditation of Healthcare Organizations other Governmental Authority or (B) any governmental right, qualification, permit, accreditation, approval, authorization, Reimbursement Approval, license or franchise regulatory agency that would reasonably be expected to result in a Material Adverse Effect or (y) any noticecompeting application, compliance order petition to deny or adverse report issued other opposition to any license renewal application filed by the Administrative Borrower or any of its Subsidiaries with the FCC that would reasonably be expected to result in a Material Adverse Effect, (v) information and a copy of any notice received by the Administrative Borrower or any of its Restricted Subsidiaries from the FCC or other Governmental Authority or Third Party Payor thatany Person that concerns (x) any event or circumstance that would reasonably be expected to materially adversely affect any material Necessary Authorization and (y) any notice of abandonment, in each caseexpiration, if not promptly complied with revocation, material impairment, nonrenewal or cured, could result in (I) the suspension or forfeiture of any material governmental rightNecessary Authorization, qualificationtogether with a written explanation of any such event or circumstance or the circumstances surrounding such abandonment, permitexpiration, accreditationrevocation, approvalmaterial impairment, authorization, Reimbursement Approval, license nonrenewal or franchise necessary for the Borrower or any Subsidiary to carry on its business as now conducted or as proposed to be conducted suspension or (II) any other material Limitation imposed upon the Borrower or any Subsidiary, or (vvi) any other event, change or circumstance that has had, or could would reasonably be expected to have, a Material Adverse Effect.

Notice of Default, Litigation and Material Adverse Effect. Promptly, and in any event within three five (5) Business Days after any officer Authorized Officer of the Borrower or any of its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event which constitutes a Default or an Event of Default, (ii) any litigation or governmental litigation, investigation or proceeding pending against the Borrower or any of its Restricted Subsidiaries (Ax) which, either individually or in the aggregate, has had, or a reasonable likelihood of adverse determination and such adverse determination could reasonably be expected to have, a Material Adverse Effect or (By) with respect to any Credit Document, (iii) the adoption filing or commencement of any lawaction, rule suit or regulation after proceeding by or before any arbitrator, the date of this Agreement FCC or any change in any law, rule or regulation or in the interpretation or application thereof by any other Governmental Authority after against or affecting the date of this Agreement relating Borrower or any Affiliate thereof that, if adversely determined, could reasonably be expected to result in a Material Adverse Effect, (iv) (x) any Third Party Payor Arrangement material admonition, censure or adverse citation or order by the FCC or any other Governmental Authority or regulatory agency that could reasonably be expected to have result in a material and adverse effect on the ability of the Borrower Material Adverse Effect or (y) any Subsidiary competing application, petition to carry on its business as now conducted deny or as proposed other opposition to be conducted, (iv) the receipt any license renewal application filed by the Borrower or any Subsidiary of its Subsidiaries with the FCC that could reasonably be expected to result in a Material Adverse Effect, (v) information and a copy of any notice received by the Borrower or any of its Restricted Subsidiaries from the FCC or other Governmental Authority or any Person that concerns (x) any notice of event or circumstance that could reasonably be expected to materially adversely affect any loss of (A) accreditation from the Joint Commission on Accreditation of Healthcare Organizations or (B) any governmental right, qualification, permit, accreditation, approval, authorization, Reimbursement Approval, license or franchise or material Necessary Authorization and (y) any noticenotice of abandonment, compliance order expiration, revocation, material impairment, nonrenewal or adverse report issued by any Governmental Authority or Third Party Payor that, in each case, if not promptly complied with or cured, could result in (I) the suspension or forfeiture of any material governmental rightNecessary Authorization, qualificationtogether with a written explanation of any such event or circumstance or the circumstances surrounding such abandonment, permitexpiration, accreditationrevocation, approvalmaterial impairment, authorization, Reimbursement Approval, license nonrenewal or franchise necessary for the Borrower or any Subsidiary to carry on its business as now conducted or as proposed to be conducted suspension or (II) any other material Limitation imposed upon the Borrower or any Subsidiary, or (vvi) any other event, change or circumstance that has had, or could would reasonably be expected to have, a Material Adverse Effect.

Notice of Default, Litigation and Material Adverse Effect. Promptly, and in any event within three five Business Days after any officer Authorized Officer of the Borrower or any of its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event which constitutes a Default or an Event of Default, (ii) any litigation or governmental litigation, investigation or proceeding pending against the Borrower or any of its Restricted Subsidiaries (Ax) which, either individually or in the aggregate, has had, or a reasonable likelihood of adverse determination and such adverse determination could reasonably be expected to have, a Material Adverse Effect or (By) with respect to any Credit Document, (iii) the adoption filing or commencement of any lawaction, rule suit or regulation after proceeding by or before any arbitrator, the date of this Agreement FCC or any change in any law, rule or regulation or in the interpretation or application thereof by any other Governmental Authority after against or affecting the date of this Agreement relating Borrower or any Affiliate thereof that, if adversely determined, could reasonably be expected to result in a Material Adverse Effect, (iv) (x) any Third Party Payor Arrangement material admonition, censure or adverse citation or order by the FCC or any other Governmental Authority or regulatory agency that could reasonably be expected to have result in a material and adverse effect on the ability of the Borrower Material Adverse Effect or (y) any Subsidiary competing application, petition to carry on its business as now conducted deny or as proposed other opposition to be conducted, (iv) the receipt any license renewal application filed by the Borrower or any Subsidiary of its Subsidiaries with the FCC that could reasonably be expected to result in a Material Adverse Effect, (v) information and a copy of any notice received by the Borrower or any of its Restricted Subsidiaries from the FCC or other Governmental Authority or any Person that concerns (x) any notice of event or circumstance that could reasonably be expected to materially adversely affect any loss of (A) accreditation from the Joint Commission on Accreditation of Healthcare Organizations or (B) any governmental right, qualification, permit, accreditation, approval, authorization, Reimbursement Approval, license or franchise or material Necessary Authorization and (y) any noticenotice of abandonment, compliance order expiration, revocation, material impairment, nonrenewal or adverse report issued by any Governmental Authority or Third Party Payor that, in each case, if not promptly complied with or cured, could result in (I) the suspension or forfeiture of any material governmental rightNecessary Authorization, qualificationtogether with a written explanation of any such event or circumstance or the circumstances surrounding such abandonment, permitexpiration, accreditationrevocation, approvalmaterial impairment, authorization, Reimbursement Approval, license nonrenewal or franchise necessary for the Borrower or any Subsidiary to carry on its business as now conducted or as proposed to be conducted suspension or (II) any other material Limitation imposed upon the Borrower or any Subsidiary, or (vvi) any other event, change or circumstance that has had, or could would reasonably be expected to have, a Material Adverse Effect.

Notice of Default, Litigation and Material Adverse Effect. Promptly, and in any event within three five (5) Business Days after any officer Authorized Officer of the Borrower or any of its Subsidiaries obtains knowledge thereof, written notice of (i) the occurrence of any event which constitutes a Default or an Event of Default, (ii) any litigation or governmental litigation, investigation or proceeding pending against the Borrower or any of its Restricted Subsidiaries (Ax) which, either individually or in the aggregate, has had, or a reasonable likelihood of adverse determination and such adverse determination could reasonably be expected to have, a Material Adverse Effect or (By) with respect to any Credit Document, (iii) the adoption filing or commencement of any lawaction, rule suit or regulation after proceeding by or before any arbitrator, the date of this Agreement FCC or any change in any law, rule or regulation or in the interpretation or application thereof by any other Governmental Authority after against or affecting the date of this Agreement relating Borrower or any Credit Party Affiliate that, if adversely determined, could reasonably be expected to result in a Material Adverse Effect, (iv) (x) any Third Party Payor Arrangement material admonition, censure or adverse citation or order by the FCC or any other Governmental Authority or regulatory agency that could reasonably be expected to have result in a material and adverse effect on the ability of the Borrower Material Adverse Effect or (y) any Subsidiary competing application, petition to carry on its business as now conducted deny or as proposed other opposition to be conducted, (iv) the receipt any license renewal application filed by the Borrower or any Subsidiary of its Subsidiaries with the FCC that could reasonably be expected to result in a Material Adverse Effect, (v) information and a copy of any notice received by the Borrower or any of its Restricted Subsidiaries from the FCC or other Governmental Authority or any Person that concerns (x) any notice of event or circumstance that could reasonably be expected to materially adversely affect any loss of (A) accreditation from the Joint Commission on Accreditation of Healthcare Organizations or (B) any governmental right, qualification, permit, accreditation, approval, authorization, Reimbursement Approval, license or franchise or material Necessary Authorization and (y) any noticenotice of abandonment, compliance order expiration, revocation, material impairment, nonrenewal or adverse report issued by any Governmental Authority or Third Party Payor that, in each case, if not promptly complied with or cured, could result in (I) the suspension or forfeiture of any material governmental rightNecessary Authorization, qualificationtogether with a written explanation of any such event or circumstance or the circumstances surrounding such abandonment, permitexpiration, accreditationrevocation, approvalmaterial impairment, authorization, Reimbursement Approval, license nonrenewal or franchise necessary for the Borrower or any Subsidiary to carry on its business as now conducted or as proposed to be conducted suspension or (II) any other material Limitation imposed upon the Borrower or any Subsidiary, or (vvi) any other event, change or circumstance that has had, or could would reasonably be expected to have, a Material Adverse Effect.

Notice of Default, Litigation and Material Adverse Effect. Promptly, and in any event within three five Business Days after any officer Authorized Officer of the Borrower or any of its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event which constitutes a Default or an Event of Default, (ii) any litigation or governmental litigation, investigation or proceeding pending against the Borrower or any of its Restricted Subsidiaries (Ax) which, either individually or in the aggregate, has had, or a reasonable likelihood of adverse determination and such adverse determination could reasonably be expected to have, a Material Adverse Effect or (By) with respect to any Credit Document, (iii) the adoption filing or commencement of any lawaction, rule suit or regulation after proceeding by or before any arbitrator, the date of this Agreement FCC or any change in any law, rule or regulation or in the interpretation or application thereof by any other Governmental Authority after against or affecting the date of this Agreement relating Borrower or any Affiliate thereof that, if adversely determined, could reasonably be expected to result in a Material Adverse Effect, (iv) (x) any Third Party Payor Arrangement material admonition, censure or adverse citation or order by the FCC or any other Governmental Authority or regulatory agency that could reasonably be expected to have result in a material and adverse effect on the ability of the Borrower Material Adverse Effect or (y) any Subsidiary competing application, petition to carry on its business as now conducted deny or as proposed other opposition to be conducted, (iv) the receipt any license renewal application filed by the Borrower or any Subsidiary of its Subsidiaries with the FCC that could reasonably be expected to result in a Material Adverse Effect, (v) information and a copy of any notice received by the Borrower or any of its Restricted Subsidiaries from the FCC or other Governmental Authority or any Person that concerns (x) any notice of event or circumstance that could reasonably be expected to materially adversely affect any loss of (A) accreditation from the Joint Commission on Accreditation of Healthcare Organizations or (B) any governmental right, qualification, permit, accreditation, approval, authorization, Reimbursement Approval, license or franchise or material Necessary Authorization and (y) any noticenotice of abandonment, compliance order expiration, revocation, material impairment, nonrenewal or adverse report issued by any Governmental Authority or Third Party Payor that, in each case, if not promptly complied with or cured, could result in (I) the suspension or forfeiture of any material governmental rightNecessary Authorization, qualificationtogether with a written explanation of any such event or circumstance or the circumstances surrounding such abandonment, permitexpiration, accreditationrevocation, approvalmaterial impairment, authorizationnonrenewal or suspension, Reimbursement Approval, license (vi) the incurrence or franchise necessary for the Borrower issuance by TV One or any Subsidiary of its Subsidiaries of any TV One Indebtedness, (vii) the consummation of a Specified TV One Capital Contribution (and the source and nature of consideration used to carry on its business as now conducted or as proposed to be conducted or finance the same), (IIviii) any other material Limitation imposed upon deemed designation of TV One as an Unrestricted Subsidiary pursuant to clause (ii) of the Borrower or any Subsidiaryproviso appearing in the definition thereof, or (vix) any other event, change or circumstance that has had, or could would reasonably be expected to have, a Material Adverse Effect.