Common use of Notice of Default or Claimed Default Clause in Contracts

Notice of Default or Claimed Default. Furnish to the Agent (a) immediately upon becoming aware of any Default or Event of Default, a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto; (b) immediately upon becoming aware that the holder of any other Indebtedness issued or assumed by the Company or any Subsidiary, or the lessor under any lease as to which the Company or any Subsidiary is the lessee, has given notice or has taken any action with respect to a claimed default thereunder, or under any agreement under which any such Indebtedness was issued or secured, a written notice specifying the notice given or action taken, the nature of the claimed default and what action the Company is taking or proposes to take with respect thereto; (c) immediately upon receipt, copies of any correspondence, notice, pleading, citation, indictment, complaint, order, decree or other document from any governmental authority or court asserting or alleging a circumstance or condition which requires or may require a financial contribution by the Company or a cleanup, removal, remedial action or other response by or on the part of the Company or any Subsidiary under Environmental Laws or which seeks damages or civil, criminal or punitive penalties from the Company or any Subsidiary for an alleged violation of Environmental Laws which, in any such case, is likely to have a material adverse effect on the financial condition or business operations of the Company or any Subsidiary; and (d) written notice of any condition or event which would make the warranties contained in section 3 inaccurate, as soon as the Company becomes aware of such condition or event.

Notice of Default or Claimed Default. Furnish to the Agent Bank (ai) immediately upon becoming aware after Borrower obtains knowledge of any Default or Event of Default, a written notice specifying the nature and period of existence thereof and what action the Company Borrower is taking or proposes to take with respect thereto; (bii) immediately upon after becoming aware that the holder of any other Indebtedness issued or assumed by the Company or any SubsidiaryBorrower, or the lessor under any lease as to which the Company or any Subsidiary Borrower is the lessee, has given notice or has taken any action with respect to a claimed default thereunder, or under any agreement under which any such Indebtedness was issued or secured, a written notice specifying the notice given or action taken, the nature of the claimed default and what action the Company Borrower is taking or proposes to take with respect thereto; (ciii) immediately upon after receipt, copies of any correspondence, notice, pleading, citation, indictment, complaint, order, decree or other document from regarding any governmental authority or court asserting or alleging a circumstance or condition which requires or may require a financial contribution alleged to be payable by the Company Borrower or regarding a cleanup, removal, remedial action or other response by or on the part of the Company or Borrower under any Subsidiary under Environmental Laws Law or which seeks damages or civil, criminal or punitive penalties from the Company or any Subsidiary Borrower for an alleged violation of any Environmental Laws which, in any such case, is likely to have a material adverse effect on the financial condition or business operations of the Company or any SubsidiaryLaw; and (div) written notice of any condition or event which would make the warranties any warranty contained in section 3 inaccurateSection 5 inaccurate in any material respect, as soon as immediately after the Company Borrower becomes aware of such condition or event.

Notice of Default or Claimed Default. Furnish to the Agent Bank (a) immediately upon promptly upon, and in any event within 5 days of, becoming aware of any Default or Event of Default, a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto; (b) immediately upon promptly upon, and in any event within 5 days of, becoming aware that the holder of any other Indebtedness issued or assumed by the Company or any Subsidiary, or the lessor under any lease as to which the Company or any Subsidiary is the lessee, has given notice or has taken any action with respect to a claimed default thereunder, or under any agreement under which any such Indebtedness was issued or secured, a written notice specifying the notice given or action taken, the nature of the claimed default and what action the Company is taking or proposes to take with respect thereto; (c) immediately promptly upon, and in any event within 5 days of, upon receipt, copies of any correspondence, notice, pleading, citation, indictment, complaint, order, decree or other document from any governmental authority or court source asserting or alleging a circumstance or condition which requires or may require a financial contribution by the Company or a cleanup, removal, remedial action or other response by or on the part of the Company or any Subsidiary under Environmental Laws or which seeks damages or civil, criminal or punitive penalties from the Company or any Subsidiary for an alleged violation of Environmental Laws which, in any such case, is likely to have a material adverse effect on the financial condition or business operations of the Company or any SubsidiaryLaws; and (d) written notice of any condition or event which would make the warranties any warranty contained in section 3 inaccurate, as soon as the Company becomes aware of such condition or event.