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

Notice of Default, Litigation, etc. The Borrower will give prompt notice (with a description in reasonable detail) to the Administrative Agent and each Lender of: (a) the occurrence of any Default; (b) the occurrence of any litigation, arbitration or governmental investigation or proceeding previously not disclosed by the Borrower to the Lenders which has been instituted or, to the knowledge of the Borrower, is threatened against the Borrower or any Subsidiary or to which any of their respective properties is subject which if adversely determined would result in a liability to the Borrower or any Subsidiary not covered by such Borrower's or Subsidiary's insurers in excess of $6,500,000; (c) any material development which shall occur in any labor controversy, litigation, arbitration or governmental investigation or proceeding previously disclosed by the Borrower to the Lenders; (d) the occurrence of any event which would reasonably be expected to have a Materially Adverse Effect; (e) the occurrence of a Reportable Event under, or the institution of steps by the Borrower or any Subsidiary to terminate, any Pension Plan, or there is a partial or complete withdrawal (as described in ERISA section 4203 or 4205) by the Borrower or any Subsidiary from a Multiemployer Plan where as a result the Borrower or any Subsidiary could be liable for payments of $500,000 or more; and (f) the failure to make a required contribution to any Pension Plan if such failure is sufficient to give rise to a Lien under section 302(f) of ERISA, or the taking of any action with respect to a Pension Plan which could result in the requirement that the Borrower or any Subsidiary furnish a bond or other security to the PBGC or such Pension Plan.

Notice of Default, Litigation, etc. The Borrower will give ----------------------------------- prompt notice (with a description in reasonable detail) to the Administrative Agent and each Lender Bank of: (a) the occurrence of any Default or any Event of Default; (b) the occurrence of any litigation, arbitration or governmental investigation or proceeding not previously not disclosed by the Borrower to the Lenders Bank which has been instituted or, to the knowledge of the Borrower, is threatened against the Borrower Borrower, either Guarantor or any Subsidiary or to which any of their respective properties is subject which if adversely determined would reasonably be expected to result in a liability to the Borrower Borrower, either Guarantor or any Subsidiary not covered by the Borrower's, such BorrowerGuarantor's or such Subsidiary's insurers insurers, as applicable, in excess of $6,500,00010,000,000; (c) any material development which shall occur in any labor controversy, litigation, arbitration or governmental investigation or proceeding previously disclosed by the Borrower to the LendersBanks; (d) the occurrence of any event which would reasonably be expected to have a Materially Adverse Effect; (e) the occurrence of (i) a Reportable Event under, or with respect to any Pension Plan; (ii) the institution of steps by the Borrower Borrower, either Guarantor or any Subsidiary to terminate, any Pension Plan, Plan where the unfunded liability is in excess of $10,000,000; or there is (iii) a partial or complete withdrawal (as described in ERISA section 4203 or 4205) by the Borrower Borrower, either Guarantor or any Subsidiary from a Multiemployer Plan multiemployer plan (as defined in Section 4001(a)(3) of ERISA) where as a result the Borrower or any Subsidiary could be liable for payments unfunded liability is in excess of $500,000 or more10,000,000; and (f) the occurrence of (i) the institution of any steps by the PBGC to terminate any Pension Plan; (ii) the failure to make a required contribution to any Pension Plan if such failure is sufficient to give rise to a Lien under section 302(f304(f) of ERISA, ; (iii) the adoption of an amendment or the taking of any action with respect to application for a Pension Plan which funding waiver that could result in the a requirement that the Borrower Borrower, either Guarantor or any Subsidiary furnish a bond or other security to the PBGC or such to a Pension Plan pursuant to sections 306 or 307 of ERISA; (iv) the assertion of any claim with respect to any Pension Plan which could, if determined adversely, result in the incurrence by the Borrower, either Guarantor or any Subsidiary of any material liability, fine or penalty; or (v) any material increase in the contingent liability of the Borrower, either Guarantor or any Subsidiary with respect to post- retirement benefits under any Welfare Plan, as determined under Financial Accounting Standards Board No. 106.

Notice of Default, Litigation, etc. The Borrower will give ---------------------------------- prompt notice (with a description in reasonable detail) to the Administrative Agent and each Lender Bank of: (a) the occurrence of any Default or any Event of Default; (b) the occurrence of any litigation, arbitration or governmental investigation or proceeding not previously not disclosed by the Borrower to the Lenders Bank which has been instituted or, to the knowledge of the Borrower, Borrowers is threatened against the Borrower Borrower, either Guarantor or any Subsidiary or to which any of their respective properties is subject which if adversely determined would reasonably be expected to result in a liability to the Borrower Borrower, either Guarantor or any Subsidiary not covered by the Borrower's, such BorrowerGuarantor's or such Subsidiary's insurers insurers, as applicable, in excess of $6,500,00010,000,000; (c) any material development which shall occur in any labor controversy, litigation, arbitration or governmental investigation or proceeding previously disclosed by the Borrower to the LendersBanks; (d) the occurrence of any event which would reasonably be expected to have a Materially Adverse Effect; (e) the occurrence of (iv) a Reportable Event under, or with respect to any Pension Plan; (v) the institution of steps by the Borrower Borrower, either Guarantor or any Subsidiary to terminateTerminate, any Pension Plan, Plan where the unfunded liability is in excess of $10,000,000; or there is (vi) a partial or complete withdrawal (as described in ERISA section 4203 or 4205) by the Borrower Borrower, either Guarantor or any Subsidiary from a Multiemployer Plan multiemployer plan (as defined in Section 4001(a)(3) of ERISA) where as a result the Borrower or any Subsidiary could be liable for payments unfunded liability is in excess of $500,000 or more10,000,000; and (f) the occurrence of (vii) the institution of any steps by the PBGC to terminate any Pension Plan; (viii) the failure to make a required contribution to any Pension Plan if such failure is sufficient to give rise to a Lien under section 302(f304(f) of ERISA, ; (ix) the adoption of an amendment or the taking of any action with respect to application for a Pension Plan which funding waiver that could result in the a requirement that the Borrower Borrower, either Guarantor or any Subsidiary furnish a bond or other security to the PBGC or such to a Pension Plan pursuant to sections 306 or 307 of ERISA; (x) the assertion of any claim with respect to any Pension Plan which could, if determined adversely, result in the incurrence by the Borrower, either Guarantor or any Subsidiary of any material liability, fine or penalty; or (xi) any material increase in the contingent liability of the Borrower, either Guarantor or any Subsidiary with respect to post-retirement benefits under any Welfare Plan, as determined under Financial Accounting Standards Board No. 106.

Notice of Default, Litigation, etc. The Borrower will give prompt notice (with a description in reasonable detail) to the Administrative Agent and each Lender of: (a) : the occurrence of any Default; (b) ; the occurrence of any litigation, arbitration or governmental investigation or proceeding previously not disclosed by the Borrower to the Lenders which has been instituted or, to the knowledge of the Borrower, is threatened against the Borrower or any Subsidiary or to which any of their respective properties is subject which if adversely determined would result in a liability to the Borrower or any Subsidiary not covered by such Borrower's ’s or Subsidiary's ’s insurers in excess of $6,500,000; (c) 13,000,000; any material development which shall occur in any labor controversy, litigation, arbitration or governmental investigation or proceeding previously disclosed by the Borrower to the Lenders; (d) ; the occurrence of any event which would reasonably be expected to have a Materially Adverse Effect; (e) ; the occurrence of a Reportable Event under, or the institution of steps by the Borrower or any Subsidiary to terminate, any Pension Plan, or there is a partial or complete withdrawal (as described in ERISA section 4203 or 4205) by the Borrower or any Subsidiary from a Multiemployer Plan where as a result the Borrower or any Subsidiary could be liable for payments of $500,000 1,000,000 or more; and (f) and the failure to make a required contribution to any Pension Plan if such failure is sufficient to give rise to a Lien under section 302(f) of ERISA, or the taking of any action with respect to a Pension Plan which could result in the requirement that the Borrower or any Subsidiary furnish a bond or other security to the PBGC or such Pension Plan.. [INTENTIONALLY OMITTED]