Common use of Notice of Litigation and Other Matters Clause in Contracts

Notice of Litigation and Other Matters. Prompt notice of. (a) the commencement, to the extent any Borrower is aware of the same, of all proceedings and investigations by or before any governmental or nongovernmental body and all actions and proceedings in any court or before any arbitrator against or in any other way relating to or affecting any Borrower, any Subsidiary or any Borrower's or Subsidiary's properties, assets or businesses, which is reasonably likely to, singly or in the aggregate, result in the occurrence of a Default or an Event of Default, or have a Materially Adverse Effect on the Borrowers, taken as a whole, (b) any amendment of the articles of incorporation or by-laws of a Borrower or any of Subsidiary, (c) any change in the business, assets, liabilities, financial condition, results of operations or business prospects of any Borrower or any Subsidiary which has had or may have, singly or in the aggregate, a Materially Adverse Effect on the Borrowers taken as a whole and any change in the executive officers of any Borrower, and (d) any Default or Event of Default or any event which constitutes or which with the passage of time or giving of notice or both would constitute a default or event of default by a Borrower or any Subsidiary under any material agreement (other than this Agreement) to which any Borrower or any Subsidiary is a party or by which any Borrower, any Subsidiary or any Borrowers or Subsidiary's properties may be bound and is reasonably likely to result in an event described in subsection (c) hereof.

Notice of Litigation and Other Matters. Prompt notice of.: (a) a. the commencement, to the extent any the Borrower is aware of the same, of all proceedings and investigations by or before any governmental or nongovernmental body and all actions and proceedings in any court or before any arbitrator against or in any other way relating to or affecting any Borrower, any Subsidiary the Borrower or any Borrower's or Subsidiary's propertiesof its property, assets or businesses, businesses which is reasonably likely tomight, singly or in the aggregate, result in the occurrence of cause a Default or an Event of Default, Default or have a Materially Adverse Effect on the Borrowers, taken as a wholeEffect, (b) b. any amendment of the articles of incorporation or the by-laws of a Borrower or any of Subsidiarythe Borrower, (c) c. any change in the business, assets, liabilities, financial condition, results of operations or business prospects of any the Borrower or any Subsidiary Affiliate of the Borrower which has had or may have, singly or in the aggregate, a reasonably be expected to have any Materially Adverse Effect on the Borrowers taken as a whole and any change in the executive officers of any the Borrower, and d. any (di) any Default or Event of Default Default, or any (ii) event which that constitutes or which that, with the passage of time or giving of notice or both both, would constitute a default or event of default by a the Borrower or any Subsidiary under any material agreement (other than this Agreement) to which any the Borrower or any Subsidiary is a party or by which any Borrower, any Subsidiary the Borrower or any Borrowers or Subsidiary's properties of its property may be bound and is reasonably likely if the exercise of remedies thereunder by the other party to result such agreement would have, either individually or in an event described in subsection (c) hereofthe aggregate, a Materially Adverse Effect.

Notice of Litigation and Other Matters. Prompt notice of.: (a) the commencement, to the extent any Borrower is aware of the same, of all proceedings and investigations by or before any governmental or nongovernmental body and all actions and proceedings in any court or before any arbitrator against or in any other way relating to or affecting any Borrower, any Subsidiary of its Subsidiaries, or any of any Borrower's or Subsidiary's any of its Subsidiaries' properties, assets or businesses, which is reasonably likely tomight, singly or in the aggregate, result in the occurrence of a Default or an Event of Default, or have a Materially Adverse Effect on the Borrowers, taken as a wholeEffect, (b) any amendment of the articles of incorporation or by-laws of a any Borrower or any of Subsidiaryits Subsidiaries, (c) any change in the business, assets, liabilities, financial condition, results of operations or business prospects of any Borrower or any Subsidiary of its Subsidiaries which has had or may have, singly or in the aggregate, a Materially Adverse Effect on the Borrowers taken as a whole and any change in the executive officers of any BorrowerBorrower or any of its Subsidiaries, and (d) any Default or Event of Default or any event which constitutes or which with the passage of time or giving of notice or both would constitute a default or event of default by a any Borrower or any Subsidiary of its Subsidiaries under any material agreement (other than this Agreement) to which any such Borrower or any Subsidiary of its Subsidiaries is a party or by which any such Borrower, any Subsidiary of its Subsidiaries or any Borrowers or Subsidiary's of their properties may be bound and is reasonably likely to result in an event described in subsection (c) hereofbound.

Notice of Litigation and Other Matters. Prompt notice of.: (a) the commencement, to the extent any Borrower is aware of the same, of all proceedings and investigations against such Borrower or any of its Subsidiaries by or before any governmental or nongovernmental body and all actions and proceedings (including counterclaims) in any court or before any arbitrator against such Borrower or in any other way relating to or affecting any Borrower, any Subsidiary of such Borrower or any Borrower's or Subsidiary's propertiesof their respective property, assets or businesses, businesses which is could reasonably likely tobe expected, singly or in the aggregate, result in the occurrence of to cause a Default or an Event of Default, result in monetary liability in excess of $250,000, or have a Materially Adverse Effect on the Borrowers, taken as a wholeEffect, (b) any amendment of the articles of incorporation or by-laws of a Borrower or any of Subsidiarythe Borrower, (c) any change in the business, assets, liabilities, financial condition, results of operations or business prospects of any Borrower or any Subsidiary of any Borrower which has had or may have, singly or in the aggregate, a could reasonably be expected to have any Materially Adverse Effect on the Borrowers taken as a whole and any change in the executive officers of any Borrower, and (d) any (i) Default or Event of Default Default, or any (ii) event which that constitutes or which that, with the passage of time or giving of notice or both both, would constitute a default or event of default by a any Borrower or any Subsidiary under any material agreement (other than this Agreement) to which any Borrower or any Subsidiary is a party or by which any Borrower, any Subsidiary Borrower or any Borrowers or Subsidiary's properties of its property may be bound and is if the exercise of remedies thereunder by the other party to such agreement could reasonably likely be expected to result have, either individually or in an event described in subsection (c) hereofthe aggregate, a Materially Adverse Effect.

Notice of Litigation and Other Matters. Prompt notice of.: (a) the commencement, to the extent any Borrower is aware of the same, of all proceedings and investigations by or before any governmental or nongovernmental body and all actions and proceedings in any court or before any arbitrator against or in any other way relating to adversely to, or affecting any Borroweradversely affecting, any Subsidiary Borrower or any Borrower's Affiliate of any Borrower or Subsidiary's propertiesany of their respective property, assets or businesses, businesses which is reasonably likely tomight, singly or in the aggregate, result in the occurrence of cause a Default or an Event of Default, Default or have a Materially Adverse Effect on the Borrowers, taken as a wholeEffect, (b) any amendment of the articles of incorporation or by-laws of a any Borrower or other Obligor or any of Subsidiarytheir Subsidiaries, (c) any change in the business, assets, liabilities, financial condition, results of operations or business prospects of any Borrower or any Subsidiary Affiliate of any Borrower which has had or may have, singly or in the aggregate, a have any Materially Adverse Effect on the Borrowers taken as a whole and any change in the executive officers of any BorrowerBorrower or other Obligor or any of their Subsidiaries, and (d) any (i) Default or Event of Default Default, or any (ii) event which that constitutes or which that, with the passage of time or giving of notice or both both, would constitute a default or event of default by a any Borrower or any Subsidiary of its Subsidiaries under any material agreement (other than this Agreement) to which any such Borrower or any Subsidiary is a party or by which any Borrower, any such Borrower or Subsidiary or any Borrowers or Subsidiary's properties of their respective property may be bound (including without limitation any agreement relating to the High Yield Debt, the SunTrust Lease, the factoring arrangements with the Factors, and is reasonably likely the letter of credit facility with Hamilton Bank, N. A.) if the exercise of remedies thereunder by the othxx xxxxx to result such agreement would have, either individually or in an event described in subsection (c) hereofthe aggregate, a Materially Adverse Effect.

Notice of Litigation and Other Matters. Prompt notice of.: (a) the commencement, to the extent any Borrower is that either of the Borrowers are aware of the same, of all proceedings and investigations by or before any governmental or nongovernmental body and all actions and proceedings in any court or before any arbitrator against or in any other way relating to adversely to, or affecting any Borroweradversely affecting, any Subsidiary the Borrowers or any Borrower's Affiliate of the Borrowers or Subsidiary's propertiesany of their respective property, assets or businesses, businesses which is reasonably likely tomight, singly or in the aggregate, result in the occurrence of cause a Default or an Event of Default, Default or have a Materially Adverse Effect on the Borrowers, taken as a wholeEffect, (b) any amendment of the articles of incorporation or by-laws of a Borrower or any of Subsidiarythe Borrowers, (c) the cancellation or termination of any LEC billing and collection agreement, (d) any change in the business, assets, liabilities, financial condition, results of operations or business prospects of any Borrower either of the Borrowers or any Subsidiary Affiliate of either of the Borrowers which has had or may have, singly or in the aggregate, a have any Materially Adverse Effect on the Borrowers taken as a whole and any change in the executive officers of any Borrowereither of the Borrowers, and (de) any (i) Default or Event of Default Default, or any (ii) event which that constitutes or which that, with the passage of time or giving of notice or both both, would constitute a default or event of default by a Borrower or any Subsidiary the Borrowers under any material agreement (other than this Agreement) to which any either Borrower or any Subsidiary is a party or by which any Borrower, any Subsidiary either Borrower or any Borrowers or Subsidiary's properties of its property may be bound and is reasonably likely if the exercise of remedies thereunder by the other party to result such agreement would have, either individually or in an event described in subsection (c) hereofthe aggregate, a Materially Adverse Effect.

Notice of Litigation and Other Matters. Prompt notice of.: (a) the commencement, to the extent any Borrower is that either of the Borrowers are aware of the same, of all proceedings and investigations by or before any governmental or nongovernmental body and all actions and proceedings in any court or before any arbitrator 78369 55 against or in any other way relating to adversely to, or affecting any Borroweradversely affecting, any Subsidiary the Borrowers or any Borrower's Affiliate of the Borrowers or Subsidiary's propertiesany of their respective property, assets or businesses, businesses which is reasonably likely tomight, singly or in the aggregate, result in the occurrence of cause a Default or an Event of Default, Default or have a Materially Adverse Effect on the Borrowers, taken as a wholeEffect, (b) any amendment of the articles of incorporation or by-laws of a Borrower or any of Subsidiarythe Borrowers, (c) the cancellation or termination of any LEC billing and collection agreement, (d) any change in the business, assets, liabilities, financial condition, results of operations or business prospects of any Borrower either of the Borrowers or any Subsidiary Affiliate of either of the Borrowers which has had or may have, singly or in the aggregate, a have any Materially Adverse Effect on the Borrowers taken as a whole and any change in the executive officers of any Borrowereither of the Borrowers, and (de) any (i) Default or Event of Default Default, or any (ii) event which that constitutes or which that, with the passage of time or giving of notice or both both, would constitute a default or event of default by a Borrower or any Subsidiary the Borrowers under any material agreement (other than this Agreement) to which any either Borrower or any Subsidiary is a party or by which any Borrower, any Subsidiary either Borrower or any Borrowers or Subsidiary's properties of its property may be bound and is reasonably likely if the exercise of remedies thereunder by the other party to result such agreement would have, either individually or in an event described in subsection (c) hereofthe aggregate, a Materially Adverse Effect.

Notice of Litigation and Other Matters. Prompt notice of.: (a) the commencement, to the extent any a Borrower is aware of the same, of all proceedings and investigations by or before any governmental or nongovernmental body and all actions and proceedings in any court or before any arbitrator against or in any other way relating to or affecting any a Borrower, any Subsidiary of its Subsidiaries or any Borrower's or Subsidiary's any of its Subsidiaries' properties, assets or businesses, which is reasonably likely tomight, singly or in the aggregate, result in the occurrence of a Default or an Event of Default, or have a Materially Adverse Effect on the Borrowers, taken as a wholeEffect, (b) any amendment of the articles or certificate of incorporation or by-laws of a any Borrower or any of Subsidiaryits Subsidiaries, (c) any change in the business, assets, liabilities, financial condition, results of operations or business prospects of any a Borrower or any Subsidiary of its Subsidiaries which has had or may have, singly or in the aggregate, a Materially Adverse Effect on the Borrowers taken as a whole and any change in the executive officers of any a Borrower, and (d) any Default or Event of Default or any event which constitutes or which with the passage of time or giving of notice or both would constitute a default or event of default by a Borrower or any Subsidiary of its Subsidiaries under any material agreement (other than this Agreement) to which any such Borrower or any Subsidiary of its Subsidiaries is a party or by which any Borrower, any Subsidiary of its Subsidiaries or any Borrowers Borrower's or Subsidiary's any Subsidiaries' properties may be bound and is reasonably likely to result in an event described in subsection (c) hereofbound.

Notice of Litigation and Other Matters. Prompt notice of.: (a) 1.49.1 the commencement, to the extent any a Borrower is aware of the same, of all proceedings and investigations by or before any governmental or nongovernmental body and all actions and proceedings in any court or before any arbitrator against or in any other way relating to adversely to, or affecting any Borroweradversely affecting, any Subsidiary such Borrower or any Borrower's Affiliate of such Borrower or Subsidiary's any of their respective properties, assets or businesses, businesses which is reasonably likely tomight, singly or in the aggregate, result in the occurrence of cause a Default or an Event of Default, Default or have a Materially Adverse Effect on the Borrowers, taken as a wholeEffect, (b) 1.49.2 any amendment of the certificate or articles of incorporation organization, certificate or by-laws articles of incorporation, bylaws or operating agreement of a Borrower or any change in the Federal tax identification number of Subsidiarya Borrower, (c) 1.49.3 any change in the business, assets, liabilities, financial condition, results of operations or business prospects of any a Borrower or any Subsidiary Affiliate of such Borrower which has had or may have, singly or in the aggregate, a have any Materially Adverse Effect on the Borrowers taken as a whole and any change in the executive officers President or chief financial officer of any a Borrower, and 1.49.4 any (di) any Default or Event of Default Default, or any (ii) event which that constitutes or which that, with the passage of time or giving of notice or both both, would constitute a default or event of default by a Borrower or any Subsidiary under any material agreement (other than this Agreement) to which any such Borrower or any Subsidiary is a party or by which any Borrower, any Subsidiary such Borrower or any Borrowers or Subsidiary's properties of its property may be bound and is reasonably likely if the exercise of remedies thereunder by the other party to result such agreement would have, either individually or in an event described in subsection (c) hereofthe aggregate, a Materially Adverse Effect.

Notice of Litigation and Other Matters. Prompt notice of. (a) : the commencement, to the extent any Borrower is aware of the same, of all proceedings and investigations by or before any governmental or nongovernmental body and all actions and proceedings in any court or before any arbitrator against or in any other way relating to or affecting any Borrower, any Subsidiary or any Borrower's or Subsidiary's properties, assets or businesses, which is reasonably likely to, singly or in the aggregate, result in the occurrence of a Default or an Event of Default, or have a Materially Adverse Effect on the Borrowers, taken as a whole, (b) , any amendment of the articles of incorporation or by-laws of a Borrower or any of Subsidiary, (c) , any change in the business, assets, liabilities, financial condition, results of operations or business prospects of any Borrower or any Subsidiary which has had or may have, singly or in the aggregate, a Materially Adverse Effect on the Borrowers taken as a whole and any change in the executive officers of any Borrower, and (d) and any Default or Event of Default or any event which constitutes or which with the passage of time or giving of notice or both would constitute a default or event of default by a Borrower or any Subsidiary under any material agreement (other than this Agreement) to which any Borrower or any Subsidiary is a party or by which any Borrower, any Subsidiary or any Borrowers Borrower's or Subsidiary's properties may be bound and is reasonably likely to result in an event described in subsection (c) hereof.