Common use of Notice of Default or Material Adverse Effect Clause in Contracts

Notice of Default or Material Adverse Effect. The Borrowers will promptly notify the Lenders and Agent in writing of the occurrence of (a) any Default or Event of Default, (b) any event or condition that has resulted or could reasonably be expected to result in a Material Adverse Effect, or (c) any event which would give rise to an obligation of the Borrowers to prepay, redeem or repurchase any of the Senior Subordinated Debt or any Preferred Stock. If any Person shall give any notice, or take any other action in respect of, a claimed default (whether or not constituting an Event of Default) under this Agreement or any other note, evidence of Indebtedness, indenture or other obligation evidencing Indebtedness in excess of the Threshold Amount (including, without limitation, the Senior Subordinated Notes Indenture) as to which any Borrower is a party or obligor, whether as principal or surety, the Borrowers shall forthwith give written notice thereof to the Lenders and Agent, describing the notice of action and the nature of the claimed default.

Notice of Default or Material Adverse Effect. The Borrowers will promptly notify the Lenders and the Administrative Agent in writing of the occurrence of (a) any Default or Event of Default, (b) any event or condition that has resulted or could reasonably be expected to result in a Material Adverse Effect, or (c) any event which would give rise to an obligation of the Borrowers to prepay, redeem or repurchase any of the Second Lien Notes or the Senior Subordinated Debt or Debt. For the avoidance of doubt, clause (c) above shall not apply to any Preferred Stockregularly scheduled payment of the Second Lien Notes on the Maturity Date (as defined in the Second Lien Notes Indenture as in effect on the date hereof). If any Person shall give any notice, or take any other action in respect of, a claimed default (whether or not constituting an Event of Default) under this Agreement or any other note, evidence of Indebtedness, indenture or other obligation evidencing Indebtedness in excess of the Threshold Amount (including, without limitation, the Senior Subordinated Notes Indenture and the Second Lien Notes Indenture) as to which any Borrower is a party or obligor, whether as principal or surety, the Borrowers shall forthwith give written notice thereof to the Lenders and the Administrative Agent, describing the notice of action and the nature of the claimed default.

Notice of Default or Material Adverse Effect. The Borrowers will promptly notify the Lenders and Administrative Agent in writing of the occurrence of (a) any Default or Event of Default, (b) any event or condition that has resulted or could reasonably be expected to result in a Material Adverse Effect, or (c) any event which would give rise to an obligation of the Borrowers to prepay, redeem or repurchase any of the Senior Permitted Subordinated Debt or any Preferred Stockother Indebtedness, in each case, in excess of the Threshold Amount. If any Person shall give any noticenotice to a Borrower, or take any other action to exercise remedies in respect of, a claimed default by a Borrower (whether or not constituting an Event of Default) under this Agreement or any other note, evidence of Indebtedness, indenture or other obligation evidencing Indebtedness any Permitted Subordinated Debt or other Indebtedness, in each case, in excess of the Threshold Amount (including, without limitation, the Senior Subordinated Notes Indenture) as to which any Borrower is a party or obligor, whether as principal or surety, the Borrowers shall forthwith give written notice thereof to the Lenders and Administrative Agent, describing the notice of action and the nature of the claimed default.

Notice of Default or Material Adverse Effect. The Borrowers will promptly notify the Lenders and Administrative Agent in writing of the occurrence of (a) any Default or Event of Default, (b) any event or condition that has resulted or could reasonably be expected to result in a Material Adverse Effect, or (c) any event which would give rise to an obligation of the Borrowers to prepay, redeem or repurchase any of the Senior Permitted Subordinated Debt or any Preferred Stockother Indebtedness, in each case, in excess of the Threshold Amount. If any Person shall give any notice, or take any other action in respect of, a claimed default (whether or not constituting an Event of Default) under this Agreement or any other note, evidence of Indebtedness, indenture or other obligation evidencing Indebtedness any Permitted Subordinated Debt or other Indebtedness, in each case, in excess of the Threshold Amount (including, without limitation, the Senior Subordinated Notes Indenture) as to which any Borrower is a party or obligor, whether as principal or surety, the Borrowers shall forthwith give written notice thereof to the Lenders and Administrative Agent, describing the notice of action and the nature of the claimed default.