Common use of NOTICE OF DEFAULTS; LOSS Clause in Contracts

NOTICE OF DEFAULTS; LOSS. Prompt written notice if: (i) any Indebtedness for Borrowed Money of either Borrower is declared or shall become due and payable prior to its declared or stated maturity, or called and not paid when due, (ii) an event has occurred that enables the holder of any note, or other evidence of such Indebtedness for Borrowed Money of either Borrower to declare such Indebtedness for Borrowed Money due and payable prior to its stated maturity, (iii) there shall occur and be continuing an Incipient Default or Event of Default, accompanied by a statement of the Chief Financial Officer setting forth what action Borrowers propose to take in respect thereof, or (iv) any event shall occur which could reasonably be expected to have a Material Adverse Effect, including the amount or the estimated amount of any loss or depreciation or adverse effect.

NOTICE OF DEFAULTS; LOSS. Prompt written notice if: (i) any ------------------------ Indebtedness for Borrowed Money of either such Borrower is declared or shall become due and payable prior to its declared or stated maturity, or called and not paid when due, (ii) an event has occurred that enables the holder of any note, or other evidence of such Indebtedness, certificate or security evidencing any such Indebtedness for Borrowed Money of either Borrower to declare such Indebtedness for Borrowed Money due and payable prior to its stated maturity, (iii) there shall occur and be continuing an Incipient Default or Event of Default, accompanied by a statement of the Chief Financial Officer setting forth what action Borrowers propose the Borrower proposes to take in respect thereof, or (iv) any event shall occur which has or could reasonably be expected to have a Material Adverse Effect, including the amount or the estimated amount of any loss or depreciation or adverse effect.

NOTICE OF DEFAULTS; LOSS. Prompt written notice if: (i) any Indebtedness for Borrowed Money of either Borrower or any Subsidiary of Borrower in excess of $100,000 is declared or shall become due and payable prior to its declared or stated maturity, or called and not paid when due, (ii) an event has occurred that enables the holder of any note, or other evidence of such Indebtedness, certificate or security evidencing any such Indebtedness for Borrowed Money of either Borrower to declare such Indebtedness for Borrowed Money due and payable prior to its stated maturity, (iii) there shall occur and be continuing an Incipient Default or Event of Default, accompanied by a statement of the Chief Financial Officer setting forth what action Borrowers propose Borrower proposes to take in respect thereof, or (iv) any event shall occur which has or could reasonably be expected to have a Material Adverse Effect, including the amount or the estimated amount of any loss or depreciation or adverse effect.

NOTICE OF DEFAULTS; LOSS. Prompt written notice if: (i) any Indebtedness for Borrowed Money of either Borrower in excess of $50,000 is declared or shall become due and payable prior to its declared or stated maturity, or called and not paid when due, (ii) an event has occurred that enables the holder of any note, or other evidence of such Indebtedness, certificate or security evidencing any such Indebtedness for Borrowed Money of either Borrower to declare such Indebtedness for Borrowed Money due and payable prior to its stated maturity, (iii) there shall occur and be continuing an Incipient Default or Event of Default, accompanied by a statement of the Chief Financial Officer setting forth what action Borrowers propose Borrower proposes to take in respect thereof, or (iv) any event shall occur which has or could reasonably be expected to have a Material Adverse Effect, including the amount or the estimated amount of any loss or depreciation or adverse effect.

NOTICE OF DEFAULTS; LOSS. Prompt written notice if: (i) any Indebtedness for Borrowed Money of either Borrower any Obligor is declared or shall become due and payable prior to its declared or stated maturity, or called and not paid when due, (ii) an event has occurred that enables the holder of any note, or other evidence of such Indebtedness, certificate or security evidencing any such Indebtedness for Borrowed Money of either Borrower any Obligor to declare such Indebtedness for Borrowed Money due and payable prior to its stated maturity, (iii) there shall occur and be continuing an Incipient Default or Event of Default, accompanied by a statement of the Chief Financial Officer setting forth what action Borrowers propose Borrower proposes to take in respect thereof, or (iv) any event shall occur which could reasonably be expected to have has a Material Adverse Effect, including the amount or the estimated amount of any loss or depreciation or adverse effect.

NOTICE OF DEFAULTS; LOSS. Prompt written notice if: (i) any Indebtedness for Borrowed Money of either Borrower or any Subsidiary is declared or shall become due and payable prior to its declared or stated maturity, or called and not paid when due, (ii) an event has occurred that enables the holder of any note, or other evidence of such Indebtedness, certificate or security evidencing any such Indebtedness for Borrowed Money of either Borrower or any Subsidiary to declare such Indebtedness for Borrowed Money due and payable prior to its stated maturity, (iii) there shall occur and be continuing an Incipient Default or Event of Default, accompanied by a statement of the Chief Financial Officer setting forth what action Borrowers propose Borrower proposes to take in respect thereof, or (iv) any event shall occur which could reasonably be expected to have has a Material Adverse Effect, including the amount or the estimated amount of any loss or depreciation or adverse effect.