Common use of Notice of Defaults and Material Adverse Changes Clause in Contracts

Notice of Defaults and Material Adverse Changes. Promptly after any officer of the Borrower has learned of the occurrence or existence of a Default or Event of Default or an event or set of circumstances which has had or which may reasonably be expected to have a Material Adverse Effect or which has caused or which may reasonably be expected to cause a Material Adverse Change, telephonic notice thereof specifying the details thereof, the anticipated effect thereof and the action which the Borrower has taken, is taking or proposes to take with respect thereto, which notice shall be promptly confirmed in writing within five days by an Authorized Officer;

Notice of Defaults and Material Adverse Changes. Promptly after any officer Authorized Officer of the Borrower has learned of the occurrence or existence of a Default or Event of Default Default, or an event or set of circumstances which has had or which may reasonably be expected to have a Material Adverse Effect or which has caused or which may reasonably be expected to cause a Material Adverse Change, telephonic notice thereof specifying the details thereof, the anticipated effect thereof and the action which the Borrower has taken, is taking or proposes to take with respect thereto, which notice shall be promptly confirmed in writing within five days (5) Business Days by an Authorized Officer;.

Notice of Defaults and Material Adverse Changes. Promptly after any officer of the any Borrower has learned of the occurrence or existence of a Default or Event of Default or an event or set of circumstances which has had or which may reasonably be expected to have a Material Adverse Effect or which has caused or which may reasonably be expected to cause a Material Adverse Change, telephonic notice thereof specifying the details thereof, the anticipated effect thereof and the action which the applicable Borrower has taken, is taking or proposes to take with respect thereto, which notice shall be promptly confirmed in writing within five days by an Authorized Officer;