Notice of Event of Default and Adverse Business Developments. Immediately after becoming aware of the existence of a Default or any Event of Default under this Agreement or after becoming aware of any developments or other information which is likely to (i) materially adversely affect Borrower’s business, prospects, profits or condition (financial or otherwise) or its ability to perform this Agreement, or (ii) adversely affect the properties of Borrower, including, without limitation, the following:
(a) any substantial dispute that may arise between Borrower and any governmental regulatory body or law enforcement authority, including any action relating to any material tax liability of Borrower;
(b) all litigation against Borrower where the amount claimed in any one suit or action is $250,000 or more and all litigation where the amount claimed in the aggregate is $500,000 or more except when the same is fully covered by insurance and the insurer accepts liability therefor;
(c) any labor controversy resulting in or threatening to result in a strike or work stoppage against Borrower;
(d) any proposal by any public authority to acquire the assets or business of Borrower;
(e) the location of any Collateral other than at Borrower’s place of business or as permitted under this Agreement;
(f) any proposed or actual change of Borrower’s name, identity or corporate structure; and
(g) any other matter which has resulted or is likely to result in a Material Adverse Effect. In each case, Borrower will provide Lender with telephonic or telegraphic notice specifying and describing the nature of such Default, Event of Default or development or information, and such anticipated effect, which telephonic or telegraphic notice shall be promptly confirmed in writing within three (3) Banking Days; and
Notice of Event of Default and Adverse Business Developments. Within three (3) Business Days after becoming aware of the existence of a Default or an Event of Default or any of the following:
(a) any material dispute that may arise between any Loan Party and any governmental regulatory body or law enforcement authority, including any action relating to any tax liability of such Loan Party;
(b) any labor controversy resulting in or threatening to result in a strike or work stoppage against any Loan Party;
(c) any proposal by any public authority to acquire the assets or business of any Loan Party;
(d) the location of any Collateral other than at any Loan Party’s place of business or as permitted under this Agreement;
(e) any proposed or actual change of any Loan Party’s name, identity, state of organization or corporate/limited liability company structure; or
(f) any other matter which has resulted or may reasonably be expected to result in a Material Adverse Effect. In each case, Borrower or the relevant Loan Party will provide Lenders with telephonic notice followed by written notice specifying and describing the nature of such Default, Event of Default or development or information, and such anticipated effect.
Notice of Event of Default and Adverse Business Developments. Immediately after becoming aware of the existence of a Default or an Event of Default or after becoming aware of any developments or other information which is likely to adversely affect Borrower's properties, business, prospects, profits or condition (financial or otherwise) or its ability to perform its obligation under this Agreement or any other Loan Documents including, without limitation, the following:
a. any dispute that may arise between Borrower and any governmental regulatory body or law enforcement authority, including any action relating to any tax liability of Borrower or guarantor;
b. any labor controversy resulting in or threatening to result in a strike or work stoppage against Borrower;
c. any proposal by any public authority to acquire the assets or business of Borrower;
d. the location of any Collateral other than at Borrower's place of business or as permitted under this Agreement;
e. any proposed or actual change of Borrower's name, identity, state of organization or corporate structure; or
f. any other matter which has resulted or may result in a Material Adverse Effect. In each case, Borrower will provide Lender with telephonic notice followed by notice in a Record specifying and describing the nature of such Default, Event of Default or development or information, and such anticipated effect.
Notice of Event of Default and Adverse Business Developments. Immediately after becoming aware of the existence of a Default or an Event of Default or after becoming aware of any developments or other information which is likely to result in a Material Adverse Effect, including, without limitation, the following:
(a) any dispute that may arise between either Borrower and any governmental regulatory body or law enforcement authority, including any action relating to any tax liability of either Borrower;
(b) any labor controversy resulting in or threatening to result in a strike or work stoppage against either Borrower;
(c) any proposal by any public authority to acquire the assets or business of either Borrower;
(d) the location of any Collateral other than at the applicable Borrower’s place of business or as permitted under this Agreement;
(e) any proposed or actual change of the applicable Borrower’s name, identity, state of organization or organizational structure; or
(f) any other matter which has resulted or may result in a Material Adverse Effect. In each case, the applicable Borrower will provide Lender with telephonic notice followed by notice in a Record specifying and describing the nature of such Default, Event of Default or development or information, and such anticipated effect.
Notice of Event of Default and Adverse Business Developments. Immediately after becoming aware of the existence of a Default or an Event of Default or after becoming aware of any developments or other information which is likely to materially adversely affect Borrower's or any Guarantor's properties, business, prospects, profits or condition (financial or otherwise) or Borrower's or any Guarantor's ability to perform their obligation under this Agreement or any other Loan Documents, including, without limitation, the following:
(a) any dispute that may arise between Borrower or any Guarantor and any governmental regulatory body or law enforcement authority, including any action relating to any tax liability of Borrower or any Guarantor;
(b) any labor controversy resulting in or threatening to result in a strike or work stoppage against Borrower or any Guarantor;
(c) any proposal by any public authority to acquire the assets or business of Borrower or any Guarantor;
(d) except for Borrower's proposed and pending request for shareholders approval to change its name to Xxxxx Bros. Electronics, Inc., any other proposed or actual change of Borrower's or any Guarantor's name, identity, state of organization or corporate structure; or
(e) any other matter which has resulted or may result in a Material Adverse Effect. In each case, Borrower will provide Lender with telephonic notice followed by notice in a Record specifying and describing the nature of such Default, Event of Default or development or information, and such anticipated effect.
Notice of Event of Default and Adverse Business Developments. Immediately after becoming aware of the existence of a Default or any Event of Default under this Agreement or after becoming aware of any developments or other information which is likely to (i) materially adversely affect Borrower's business, prospects, profits or condition (financial or otherwise) or its ability to perform this Agreement, or (ii) adversely affect any of Borrower's properties, including, without limitation, the following:
(a) any substantial dispute that may arise between Borrower and any governmental regulatory body or law enforcement authority, including any action relating to any tax liability of Borrower;
(b) all litigation against Borrower where the amount claimed in any one suit or action is $250,000 or more and all litigation where the amount claimed in the aggregate is $500,000 or more except when the same is fully covered by insurance and the insurer accepts liability therefor;
(c) any labor controversy resulting in or threatening to result in a strike or work stoppage against Borrower; any proposal by any public authority to acquire the assets or business of Borrower;
Notice of Event of Default and Adverse Business Developments. Immediately after becoming aware of the existence of a Default or any Event of Default under this Agreement or any other Loan Documents or after becoming aware of the following:
(a) any dispute that may arise between Borrower and any governmental regulatory body or law enforcement authority, including any action relating to any tax liability of Borrower or guarantor if any, which would be reasonably expected to cause or have a Material Adverse Effect;
(b) any labor controversy resulting in or threatening to result in a strike or work stoppage against Borrower;
(c) any proposal by any public authority to acquire the assets or business of Borrower, which would be reasonably expected to cause or have a Material Adverse Effect;
(d) the location of any Collateral other than at Borrower's place of business or as permitted under this Agreement;
(e) any proposed or actual change of Borrower's name, identity, state of organization or corporate structure; and
(f) any other matter which has resulted or may result in a Material Adverse Effect. In each case, Borrower will provide Lender with telephonic notice followed by notice in a Record specifying and describing the nature of such Default, Event of Default or development or information, and such anticipated effect.
Notice of Event of Default and Adverse Business Developments. Immediately after becoming aware of the existence of a Default or an Event of Default or any of the following:
(a) any dispute that may arise between Borrower and any governmental regulatory body or law enforcement authority, including any action relating to any tax liability of Borrower or guarantor if any;
(b) any labor controversy resulting in or threatening to result in a strike or work stoppage against Borrower;
(c) any proposal by any public authority to acquire the assets or business of Borrower;
(d) the location of any Collateral other than at Borrower’s place of business or as permitted under this Agreement;
(e) any proposed or actual change of Borrower’s name, identity, state of organization or corporate/limited liability company structure;
(f) any other matter which has resulted or may result in a Material Adverse Effect; or
(g) a default under, or termination or non-renewal of, any of the Distribution Agreements. In each case, Borrower will provide Lender with telephonic notice followed by notice in a Record specifying and describing the nature of such Default, Event of Default or development or information, and such anticipated effect.
Notice of Event of Default and Adverse Business Developments. Immediately after becoming aware of the existence of a Default or any Event of Default under this Agreement or after becoming aware of any developments or other information which is likely to adversely affect Borrowers' properties, business, prospects, profits or condition (financial or otherwise) or its ability to perform this Agreement, including, without limitation, the following:
(a) any substantial dispute that may arise between Borrowers and any governmental regulatory body or law enforcement authority, including any action relating to any tax liability of Borrowers;
(b) all litigation against Borrowers where the amount claimed in any one suit or action is $25,000.00 or more and all litigation where the amount claimed in the aggregate is $50,000.00 or more except when the same is fully covered by insurance;
(c) any labor controversy resulting in or threatening to result in a strike or work stoppage against Borrower;
(d) any proposal by any public authority to acquire the assets or business of Borrower;
(e) the location of any Collateral other than at Borrowers' place of business or as set forth under this Agreement;
(f) any proposed or actual change of Borrowers' name, identity or corporate structure; and
(g) any other matter which has resulted or may result in a Material Adverse Effect. In each case, Borrowers will provide Lender with telephonic notice followed by notice in a Record specifying and describing the nature of such Default, Event of Default or development or information, and such anticipated effect.
Notice of Event of Default and Adverse Business Developments. Immediately after becoming aware of the existence of a Default or an Event of Default or after becoming aware of any developments or other information which is likely to materially, adversely affect Borrower's properties, business, prospects, profits or condition (financial or otherwise) or its ability to perform its obligation under this Agreement or any other Loan Documents, including, without limitation, the following: (a) any material dispute that may arise between Borrower and any governmental regulatory body or law enforcement authority, including any action relating to any tax liability of Borrower or guarantor if any; (b) any labor controversy resulting in or threatening to result in a strike or work stoppage against Borrower;
