Common use of Notice of Default, Litigation, etc Clause in Contracts

Notice of Default, Litigation, etc. (i) The Company shall furnish to the Trustee as soon as possible and in any event within five (5) Business Days after the discovery by any executive officer of the Company of any Default, a certificate setting forth the details of such Default, and the action which the Company proposes to take with respect thereto. (ii) The Company shall give prompt notice to the Trustee of any litigation or governmental proceeding pending, involving or, to its knowledge, threatened against the Company, any Subsidiary or any Affiliate which (A) involves an uninsured claim or the uninsured portion or deductible of an insured claim which is over $500,000 or (B) if adversely determined, would have a material adverse effect on the business or financial condition of the Company, any Subsidiary, or any Affiliate.

Notice of Default, Litigation, etc. (i) The Company shall furnish to the Trustee as soon as possible and in any event within five (5) Business Days after the discovery by any executive officer of the Company of any Event of Default, a certificate setting forth the details of such Event of Default, and the action which the Company proposes to take with respect thereto. (ii) The Company shall give prompt notice to the Trustee of any litigation or governmental proceeding pending, involving or, to its knowledge, threatened against the Company, any Subsidiary Company or any Affiliate which (A) involves an uninsured claim or the uninsured portion or deductible of an insured claim which is over $500,000 or (B) if adversely determined, would have a material adverse effect on the business or financial condition of the Company, any Subsidiary, Company or any Affiliate.

Notice of Default, Litigation, etc. (i) The Company shall furnish to the Trustee as soon as possible and in any event within five (5) Business Days after the discovery by any executive officer of the Company of any Default, a certificate setting forth the details of such Default, and the action which the Company proposes to take with respect thereto. (ii) The Company shall give prompt notice to the Trustee of any litigation or governmental proceeding pending, involving or, to its knowledge, threatened against the Company, any Subsidiary Company or any Affiliate which (A) involves an uninsured claim or the uninsured portion or deductible of an insured claim which is over $500,000 or (B) if adversely determined, would have a material adverse effect on the business or financial condition of the Company, any Subsidiary, Company or any Affiliate.