Common use of NOTICE OF DEFAULTS; LOSS Clause in Contracts

NOTICE OF DEFAULTS; LOSS. Prompt written notice if: (i) any Indebtedness of any Obligor in the aggregate principal amount in excess of $1,000,000 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 of any Obligor to declare such Indebtedness due and payable prior to its stated maturity, (iii) there shall occur and be continuing an Event of Default, accompanied by a statement of setting forth what action Borrower proposes to take in respect thereof, or (iv) any event shall occur which has a Material Adverse Effect, including the amount or the estimated amount of any loss or adverse effect.

NOTICE OF DEFAULTS; LOSS. Prompt written notice if: (i) any Indebtedness of Borrower or any Obligor in the aggregate principal amount in excess of $1,000,000 its Subsidiaries 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 of Borrower or any Obligor of its Subsidiaries to declare such Indebtedness 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 setting forth what action Borrower proposes propose to take in respect thereof, or (iv) any event shall occur which 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 of Borrower or any Obligor in the aggregate principal amount Subsidiary of Borrower in excess of $1,000,000 100,000 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 of any Obligor to declare such Indebtedness 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 setting forth what action Borrower proposes to take in respect thereof, or (iv) any event shall occur which has or could have a Material Adverse Effect, including the amount or the estimated amount of any loss or depreciation or adverse effect.