Common use of Notice of Litigation or Default Clause in Contracts

Notice of Litigation or Default. Borrowers shall promptly provide Agent with: (a) written notice of any litigation, arbitration, or other proceeding or governmental investigation (including any survey results or inspection reports from any Governmental Authority) pending or, to any Borrower’s or any Loan Party’s knowledge, threatened against or relating to any Borrower, Loan Party, Project, Property Manager or Master Tenant (but with respect to matters affecting only Managing Member or any Principal, only such matters which could reasonably be expected to have a material adverse effect on the financial condition of such Person and with respect to matters affecting only a Property Manager or a Master Tenant, only such matters which pertain to a Project or which could reasonably be expected to have a material adverse effect on such Property Manager’s or Master Tenant’s financial condition), or any Project; provided, that with respect to any such litigation, arbitration or other proceeding relating solely to a monetary claim of less than $75,000, Borrowers shall not be required to provide notice (written or otherwise) of such claim in accordance with the terms of this ‎Section 6.4; (b) a copy of all notices of default and violations of laws, regulations, codes, ordinances and the like received by any Borrower or Loan Party, Property Manager or Master Tenant relating to (i) any Loan Party, if potentially material to the business operations of such Loan Party or (ii) any Borrower, the Collateral or the Projects; (c) a copy of all notices sent to or received from Property Manager or any Borrower under any of the Management Agreements; and (d) a copy of all notices sent to or received from any Master Tenant under any Master Lease.

Notice of Litigation or Default. Borrowers shall promptly provide Agent with: (a) written notice of any litigation, arbitration, or other proceeding or governmental investigation (including any survey results or inspection reports from any Governmental Authority) pending or, to any Borrower’s 's or any Loan Party’s Guarantor's knowledge, threatened against or relating to any Borrower, Loan PartyGuarantor, Project, Property Manager Project or Master Tenant (but with respect to matters affecting only Managing Member or any PrincipalGuarantor, only such matters which could reasonably be expected to have a material adverse effect on the financial condition of such Person and with respect to matters affecting only a Property Manager or a Master Tenant, only such matters which pertain to a Project or which could reasonably be expected to have a material adverse effect on such Property Manager’s or Master Tenant’s 's financial condition), or any Project; provided, that with respect to any such litigation, arbitration or other proceeding relating solely to a monetary claim of less than $75,00010,000, Borrowers shall not be required to provide notice (written or otherwise) of such claim in accordance with the terms of this ‎Section Section 6.4;. (b) a copy of all notices of default and violations of laws, regulations, codes, ordinances and the like received by any Borrower or Loan PartyBorrower, Property Manager Guarantor or Master Tenant relating to (i) any Loan PartyGuarantor, if potentially material to the business operations of such Loan Party Guarantor or (ii) any Borrower, the Collateral or the Projects; (c) a copy of all notices sent to or received from Property Manager or any Borrower under any of the Management Agreements; and (dc) a copy of all notices sent to or received from any Master Tenant under any Master Lease.

Notice of Litigation or Default. Borrowers shall promptly provide Agent with: (a) written notice of any litigation, arbitration, or other proceeding or governmental investigation (including any survey results or inspection reports from any Governmental Authority) pending or, to any Borrower’s or any Loan PartyGuarantor’s knowledge, threatened against or relating to any Borrower, Loan Partythe Guarantor, Project, Property Manager or any Master Tenant (but (i) with respect to matters affecting only Managing Member or any PrincipalGuarantor, only such matters which could reasonably be expected to have a material adverse effect on the financial condition of such Person the Guarantor and (ii) with respect to matters affecting only a Property Manager or a Master Tenant, only such matters which pertain to a Project or which could reasonably be expected to have a material adverse effect on such Property Manager’s or Master Tenant’s financial condition), or any Project; provided, that with respect to any such litigation, arbitration or other proceeding relating solely to a monetary claim of less than $75,000250,000, Borrowers shall not be required to provide notice (written or otherwise) of such claim in accordance with the terms of this ‎Section Section 6.4;. (b) a copy of all notices of default and violations of laws, regulations, codes, ordinances and the like received by any Borrower Borrower, the Guarantor or Loan Party, Property Manager or any Master Tenant relating to (i) any Loan PartyGuarantor, if (A) potentially material to the business operations of such Loan Party Guarantor or (B) relating to the DOJ Investigation, or (ii) any Borrower, the Collateral or the Projects; (c) a copy of all notices sent to or received from Property Manager or any Borrower under any of the Management Agreements; and (dc) a copy of all notices sent to or received from any Master Tenant under any Master Lease.

Notice of Litigation or Default. Borrowers shall promptly provide Agent with: (ai) written notice of any litigation, arbitration, or other proceeding or governmental investigation (including any survey results or inspection reports from any Governmental Authority) pending or, to any Borrower’s or any Loan PartyGuarantor’s knowledge, threatened against or relating to any Borrower, Loan Partythe Guarantor, Project, Property Manager or Master any Operating Tenant (but (i) with respect to matters affecting only Managing Member or any PrincipalGuarantor, only such matters which could reasonably be expected to have a material adverse effect on the financial condition of such Person the Guarantor and (ii) with respect to matters affecting only a Property Manager or a Master an Operating Tenant, only such matters which pertain to a Project or which could reasonably be expected to have a material adverse effect on such Property Manager’s or Master Operating Tenant’s financial condition), or any Project; provided, that with respect to any such litigation, arbitration or other proceeding relating solely to a monetary claim of less than $75,000250,000, Borrowers shall not be required to provide notice (written or otherwise) of such claim in accordance with the terms of this ‎Section 6.4;Section 7.1; and (bii) a copy of all notices of default and violations of laws, regulations, codes, ordinances and the like received by any Borrower Borrower, the Guarantor, or Loan Party, Property Manager or Master any Operating Tenant relating to (iA) any Loan PartyGuarantor, if potentially material to the business operations of such Loan Party Guarantor, or (iiB) any Borrower, the Collateral Collateral, or the Projects; (c) a copy of all notices sent to or received from Property Manager or any Borrower under any of the Management Agreements; and (d) a copy of all notices sent to or received from any Master Tenant under any Master Lease.