Common use of Notice of Litigation, Defaults, etc Clause in Contracts

Notice of Litigation, Defaults, etc. The Company will promptly give notice to each Qualified Purchaser of any litigation or any administrative proceeding to which the Company or any of its Subsidiaries may hereafter become a party which may result in a Material Adverse Effect on the Company or any of its Subsidiaries. Forthwith upon any officer of the Company obtaining knowledge of any material default under a material agreement or any default or event of default under this Agreement or any Related Agreement, the Company will furnish a notice specifying the nature and period of existence thereof, what action the Company has taken, is taking or proposes to take with respect thereto. Promptly after the receipt thereof, the Company will provide copies of any reports as to adequacies in accounting controls submitted by independent accountants with respect to the Company and its Subsidiaries.

Notice of Litigation, Defaults, etc. The Company will promptly give notice to each Qualified Purchaser of any litigation or any administrative proceeding to which the Company or any of its Subsidiaries may hereafter become a party which may result in a Material Adverse Effect on the Company or any of its Subsidiaries. Forthwith upon any officer of the Company obtaining knowledge of any material default under a material agreement or any default or event of default under this Agreement or any Related Agreement, the Company will furnish a notice specifying the nature and period of existence thereof, what action the Company has taken, is taking or proposes to take with respect thereto. Promptly after the receipt thereof, the Company will provide copies of any reports as to adequacies in accounting controls submitted by independent accountants with respect to the Company and its Subsidiaries.the