Common use of NOTICE OF DEFAULTS; CHANGE IN BUSINESS AND ADVERSE EVENTS Clause in Contracts

NOTICE OF DEFAULTS; CHANGE IN BUSINESS AND ADVERSE EVENTS. Borrower, immediately after any Responsible Officer becomes aware thereof, shall give Lender written notice of the occurrence of (i) any Event of Default or any Incipient Default, accompanied by a statement of such Responsible Officer setting forth what action Borrower proposes to take in respect thereof, (ii) any change in the (A) executive officers or key employees of Borrower, or (B) location of the chief place of business of Borrower or any sale or purchase outside the regular course of business of Borrower, (iii) any event which may have a material adverse effect on the (A) enforceability of the Lender Lien or (B) ability of Borrower to perform any of its obligations under any of the Loan Documents, (iv) any material default in payment or performance by Borrower or any End-User under any Facility Contract or (v) any material damage to or irreparable malfunction of any Facility Equipment.

NOTICE OF DEFAULTS; CHANGE IN BUSINESS AND ADVERSE EVENTS. Borrower, immediately after any Responsible Officer becomes aware thereof, shall give Lender written notice of the occurrence of (i) any Event of Default or any Incipient Default, accompanied by a statement of such Responsible Officer setting forth what action Borrower proposes to take in respect thereof, (ii) any change in the (A) executive officers or key employees of Borrower, or (B) location of the chief place of business of Borrower or any sale or purchase outside the regular course of business of Borrower, (iii) any event which may have a material adverse effect on the (A) enforceability of the Lender Lien or Lien, (B) ability of Borrower to perform any of its obligations under any of the Loan DocumentsDocuments or (C) Borrower's compliance with the Gaming Laws of any state and/or Lender's ability to exercise its remedies hereunder with respect to any Facility Equipment constituting Gaming Device Goods, (iv) any material default in payment or performance by Borrower or any End-User under any Facility Contract or (v) any material damage to or irreparable malfunction of any Facility Equipment.