Notice of Material Events and Change of Address. Borrower will promptly, after becoming aware thereof, notify Lender in writing, stating that such notice is being given pursuant to this Agreement, of: (a) the occurrence of any Material Adverse Change; (b) the occurrence of any Default; (c) the acceleration of the maturity of any Indebtedness owed by any Restricted Person or of any default by any Restricted Person under any indenture, mortgage, agreement, contract or other instrument to which any of them is a party or by which any of them or any of their properties is bound which could reasonably be expected to cause a Material Adverse Change; (d) the occurrence of any Termination Event; (e) any claim under any Environmental Law adverse to a Restricted Person or of potential liability with respect to such claim, or any other adverse claim asserted against any Restricted Person or with respect to any Restricted Person’s properties taken as a whole which could reasonably be expected to cause a Material Adverse Change; (f) the filing of any suit or proceeding against any Restricted Person; and (g) any material change of accounting policies or financial reporting practices by any Restricted Person. Upon the occurrence of any of the foregoing, Restricted Persons will take all necessary or appropriate steps to remedy promptly any such Material Adverse Change, Default, acceleration, default, or Termination Event, to protect against any such adverse claim, to defend any such suit or proceeding, and to resolve all controversies on account of any of the foregoing. Borrower will also notify Lender in writing at least fifteen (15) Business Days prior to the date that any Restricted Person changes its name or the location of its chief executive office or its location under the UCC.
Appears in 3 contracts
Samples: Credit Agreement (Forbes Energy Services Ltd.), Credit Agreement (Forbes Energy Services Ltd.), Credit Agreement (Forbes Energy Services LLC)
Notice of Material Events and Change of Address. Borrower Each Restricted Person will promptlynotify each Lender Party, not later than five (5) Business Days after becoming aware any executive officer of Restricted Persons has knowledge thereof, notify Lender in writing, stating that such notice is being given pursuant to this Agreement, of:
(a) the occurrence of any Material Adverse Change;,
(b) the occurrence of any Default;,
(c) the acceleration of the maturity of any Indebtedness owed by any Restricted Person or of any default by any Restricted Person under any indenture, mortgage, agreement, contract or other instrument to which any of them is a party or by which any of them or any of their properties is bound which bound, if such acceleration or default could reasonably be expected to cause a Material Adverse Change;,
(d) the occurrence of any Termination Event;,
(e) any claim of $1,000,000 or more, any notice of potential liability under any Environmental Law adverse Laws which might be reasonably likely to a Restricted Person or of potential liability with respect to exceed such claimamount, or any other material adverse claim asserted against any Restricted Person or with respect to any Restricted Person’s 's properties taken as a whole which could reasonably be expected to cause a Material Adverse Change;whole, and
(f) the filing of any suit or proceeding against any Restricted Person; and
(g) any material change of accounting policies or financial reporting practices by any Restricted PersonPerson in which an adverse decision could cause a Material Adverse Change. Upon the occurrence of any of the foregoing, foregoing Restricted Persons will take all necessary or appropriate steps to remedy promptly any such Material Adverse Change, Default, acceleration, default, default or Termination Event, to protect against any such adverse claim, to defend any such suit or proceeding, and to resolve all controversies on account of any of the foregoing. Borrower Restricted Persons will also notify Lender Administrative Agent and Administrative Agent's counsel in writing at least fifteen (15) twenty Business Days prior to the date that any Restricted Person changes its name or the location of its chief executive office or principal place of business or the place where it keeps its location under books and records concerning the UCCCollateral, furnishing with such notice any necessary financing statement amendments or requesting Administrative Agent and its counsel to prepare the same. Borrower will promptly notify Administrative Agent in the event Borrower determines that any computer application which is material to the operations of Borrower, its Subsidiaries, its Affiliates or any of its material vendors or suppliers will not be fully Year 2000 compliant on a timely basis, except to the extent that such failure could not reasonably be expected to cause a Material Adverse Change.
Appears in 2 contracts
Samples: Credit Agreement (Plains All American Pipeline Lp), Credit Agreement (Plains All American Pipeline Lp)
Notice of Material Events and Change of Address. Borrower and Parent will promptly, after becoming aware thereof, promptly notify each Lender in writing, stating that such notice is being given pursuant to this Agreement, of:
(a) the occurrence of any Material Adverse Change;,
(b) the occurrence of any Default;Default or Coverage Deficiency,
(c) the acceleration of the maturity of any Indebtedness Restricted Debt owed by any Restricted Related Person or of any default by any Restricted Related Person under any indenture, mortgage, agreement, contract or other instrument to which any of them is a party or by which any of them or any of their properties is bound which bound, if such acceleration or default could reasonably be expected to cause a Material Adverse Change;,
(d) the occurrence of any Termination Event;,
(e) any claim of $50,000 or more, any notice of potential liability under any Environmental Law adverse to a Restricted Person or of potential liability with respect to Laws which might exceed such claimamount, or any other material adverse claim asserted against any Restricted Related Person or with respect to any Restricted Related Person’s properties taken as a whole which could reasonably be expected to cause a Material Adverse Change;'s properties,
(f) the filing of any suit or proceeding against any Restricted Person; Related Person in which an adverse decision could cause a Material Adverse Change, and
(g) any material change of accounting policies or financial reporting practices the receipt by any Restricted PersonRelated Person of a notice of any "Event of Default" under the Other Loan Documents. Upon the occurrence of any of the foregoing, Restricted foregoing Related Persons will take all necessary or appropriate steps to remedy promptly any such Material Adverse Change, Default, acceleration, default, default or Termination Event, to protect against any such adverse claim, to defend any such suit or proceeding, and to resolve all controversies on account of any of the foregoing. Borrower will also notify Lender Agent and Agent's counsel in writing at least fifteen (15) twenty Business Days prior to the date that any Restricted Related Person changes its name or the location of its chief executive office or principal place of business or the place where it keeps its location under books and records concerning the UCCCollateral, furnishing with such notice any necessary financing statement amendments or requesting Agent and its counsel to prepare the same.
Appears in 2 contracts
Samples: Credit Agreement (Inland Resources Inc), Credit Agreement (Inland Resources Inc)
Notice of Material Events and Change of Address. Borrower Each Restricted Person will promptlynotify each Lender Party, not later than five (5) Business Days after becoming aware any executive officer of Restricted Persons has knowledge thereof, notify Lender in writing, stating that such notice is being given pursuant to this Agreement, of:
(a) the occurrence of any Material Adverse Change;,
(b) the occurrence of any Default;,
(c) the acceleration of the maturity of any Indebtedness owed by any Restricted Person or of any default by any Restricted Person under any indenture, mortgage, agreement, contract or other instrument to which any of them is a party or by which any of them or any of their properties is bound which bound, if such acceleration or default could reasonably be expected to cause a Material Adverse Change;,
(d) the occurrence of any Termination Event;,
(e) any claim of $1,000,000 or more, any notice of potential liability under any Environmental Law adverse Laws which might be reasonably likely to a Restricted Person or of potential liability with respect to exceed such claimamount, or any other material adverse claim asserted against any Restricted Person or with respect to any Restricted Person’s 's properties taken as a whole which could reasonably be expected to cause a Material Adverse Change;whole, and
(f) the filing of any suit or proceeding against any Restricted Person; and
(g) any material change of accounting policies or financial reporting practices by any Restricted PersonPerson in which an adverse decision could cause a Material Adverse Change. Upon the occurrence of any of the foregoing, Restricted Persons will take all necessary or appropriate steps to remedy promptly any such Material Adverse Change, Default, acceleration, default, or Termination Event, Event to protect against any such adverse claim, to defend any such suit or proceeding, and to resolve all controversies on account of any of the foregoing. Borrower Restricted Persons will also notify Lender Administrative Agent and Administrative Agent's counsel in writing at least fifteen (15) twenty Business Days prior to the date that any Restricted Person changes its name or the location of its chief executive office or principal place of business or the place where it keeps its location under books and records concerning the UCCCollateral, furnishing with such notice any necessary financing statement amendments or requesting Administrative Agent and its counsel to prepare the same. Borrower will promptly notify Administrative Agent in the event Borrower determines that any computer application which is material to the operations of Borrower, its Subsidiaries, its Affiliates or any of its material vendors or suppliers will not be fully Year 2000 compliant on a timely basis, except to the extent that such failure could not reasonably be expected to cause a Material Adverse Change.
Appears in 2 contracts
Samples: Credit Agreement (Plains All American Pipeline Lp), Credit Agreement (Plains All American Pipeline Lp)
Notice of Material Events and Change of Address. Borrower will promptly, after becoming aware thereof, promptly notify Lender Administrative Agent in writing, stating that such notice is being given pursuant to this Agreement, of:
(a) the occurrence of any Material Adverse Change;,
(b) the occurrence of any Default;,
(c) the acceleration of the maturity of any Indebtedness owed by any Restricted Person or of any default by any Restricted Person under any indenture, mortgage, agreement, contract or other instrument to which any of them is a party or by which any of them or any of their properties is bound which bound, if such acceleration or default could reasonably be expected to cause a Material Adverse Change;,
(d) the occurrence of any Termination Event;,
(e) any claim of $2,000,000 or more, any notice of potential liability under any Environmental Law adverse to a Restricted Person or of potential liability with respect to Laws which might exceed such claimamount, or any other material adverse claim asserted against any Restricted Person or with respect to any Restricted Person’s properties taken as a whole which could reasonably be expected to cause a Material Adverse Change;properties,
(f) the filing of any suit or proceeding against any Restricted Person; Person in which an adverse decision could cause a Material Adverse Change, and
(g) the acquisition or creation of any material change Subsidiary of accounting policies or financial reporting practices by any Restricted PersonBorrower. Upon the occurrence of any of the foregoing, Restricted Persons will take all necessary or appropriate steps to remedy promptly any such Material Adverse Change, Default, acceleration, default, default or Termination Event, to protect against any such adverse claim, to defend any such suit or proceeding, and to resolve all controversies on account of any of the foregoing. Borrower will also notify Lender Administrative Agent and Administrative Agent’s counsel in writing at least fifteen (15) twenty Business Days prior to the date that any Restricted Person changes its name or the location of its chief executive office or principal place of business or the place where it keeps its location under books and records concerning the UCCCollateral, furnishing with such notice any necessary financing statement amendments or requesting Administrative Agent and its counsel to prepare the same.
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Notice of Material Events and Change of Address. Borrower will promptly, after becoming aware thereof, promptly notify each Lender Party in writing, stating that such notice is being given pursuant to this Agreement, of:
(a) the occurrence of any Material Adverse Change;,
(b) the occurrence of any Default;,
(c) the acceleration of the maturity of any Indebtedness owed by any Restricted Person or of any default by any Restricted Person under any indenture, mortgage, agreement, contract or other instrument to which any of them is a party or by which any of them or any of their properties is bound which bound, if such acceleration or default could reasonably be expected to cause a Material Adverse Change;,
(d) the occurrence of any Termination Event;,
(e) any claim matter for which notice is required under any Environmental Law adverse to a Restricted Person or of potential liability with respect to such claim, or any other adverse claim asserted against any Restricted Person or with respect to any Restricted Person’s properties taken as a whole which could reasonably be expected to cause a Material Adverse Change;Section 6.12(d),
(f) the filing of any suit or proceeding against any Restricted Person; Person in which an adverse decision could cause a Material Adverse Change, and
(g) the occurrence of any material change or disruption under or with respect to any Material Contract (listed on Exhibit B to item 7 of accounting policies the Security Schedule which includes Eastern American's gas contract with Mountaineer) or financial reporting practices by any Restricted Personother material gas purchase or sales contract. Upon the occurrence of any of the foregoing, foregoing Restricted Persons will take all necessary or appropriate steps to remedy promptly any such Material Adverse Change, Default, acceleration, default, default or Termination Event, to protect against any such adverse claim, to defend any such suit or proceeding, and to resolve all controversies on account of any of the foregoing. Borrower will also notify Lender Agent and Agent's counsel in writing at least fifteen (15) twenty Business Days prior to the date that any Restricted Person changes its name or the location of its chief executive office or principal place of business or the place where it keeps its location under books 45 and records concerning the UCCCollateral, furnishing with such notice any necessary financing statement amendments or requesting Agent and its counsel to prepare the same.
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Notice of Material Events and Change of Address. Borrower will promptly, after becoming aware thereof, notify each Lender Party in writing, stating that such notice is being given pursuant to this Agreement, of:
(a) the The occurrence of any Material Adverse Change;
(b) the occurrence of any Default;
(c) the acceleration of the maturity of any Indebtedness owed by any Restricted Person or of any default by any Restricted Person under any indenture, mortgage, agreement, contract or other instrument to which any of them is a party or by which any of them or any of their properties is bound which bound, if such acceleration or default could reasonably be expected to cause a Material Adverse Change;
(d) the occurrence of any Termination Event;
(e) any claim of $500,000 or more, any notice of potential liability of any Restricted Person under any Environmental Law adverse to a Restricted Person or of potential liability with respect to Laws which might exceed such claimamount, or any other material adverse claim asserted against any Restricted Person or with respect to any Restricted Person’s properties taken as a whole which could reasonably be expected to cause a Material Adverse Change;properties; and
(f) the filing of any suit or proceeding against any Restricted Person; and
(g) any material change Person in which an adverse decision could cause a liability to such Restricted Person in excess of accounting policies or financial reporting practices by any Restricted Personthe $1,000,000. Upon the occurrence of any of the foregoing, foregoing Restricted Persons will take all necessary or appropriate steps to remedy promptly any such Material Adverse Change, Default, acceleration, default, or Termination Event, to protect against any such adverse claim, to defend any such suit or proceeding, and to resolve all controversies on account of any of the foregoing. Borrower will also notify Lender Administrative Agent and Administrative Agent’s counsel in writing at least fifteen (15) twenty Business Days prior to the date that any Restricted Person changes its name or the location of its chief executive office or its location under the UCCUniform Commercial Code.
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Notice of Material Events and Change of Address. Borrower will promptly, after becoming aware thereof, promptly notify each Lender in writing, stating that such notice is being given pursuant to this Agreement, of:
(a) the occurrence of any Material Adverse Change;,
(b) the occurrence of any Default;Default of which Borrower has knowledge,
(c) the acceleration of the maturity of any Indebtedness owed by any Restricted Person or of any default by any Restricted Person under any indenture, mortgage, agreement, contract or other instrument to which any of them is a party or by which any of them or any of their properties is bound which bound, if such acceleration or default could reasonably be expected to cause a Material Adverse Change;,
(d) the occurrence of any Termination Event;,
(e) any claim of $1,000,000 or more (in the aggregate with other claims pending), any notice of potential liability under any Environmental Law adverse to a Restricted Person or of potential liability with respect to Laws which might exceed such claimamount, or any other adverse claim of $1,000,000 or more (in the aggregate with other such liabilities and claims pending) asserted against any Restricted Person or with respect to any Restricted Person’s properties taken as a whole which could reasonably be expected to cause a Material Adverse Change;'s properties, and
(f) the filing of any suit or proceeding against any Restricted Person; and
(g) any material change of accounting policies or financial reporting practices by any Restricted PersonPerson in which an adverse decision could cause a Material Adverse Change. Upon the occurrence of any of the foregoing, foregoing Restricted Persons will take all necessary or appropriate steps to remedy promptly any such Material Adverse Change, Default, acceleration, default, default or Termination Event, to protect against any such adverse claim, to defend any such suit or proceeding, and to resolve all controversies on account of any of the foregoing. Borrower will also notify Lender Agent and Agent's counsel in writing at least fifteen (15) twenty Business Days prior to the date that any Restricted Person changes its name or the location of its chief executive office or principal place of business or the place where it keeps its location under books and records concerning the UCCCollateral, furnishing with such notice any necessary financing statement amendments or requesting Agent and its counsel to prepare the same.
Appears in 1 contract
Samples: Credit Agreement (Forcenergy Inc)
Notice of Material Events and Change of Address. Borrower Each Restricted Person will promptlynotify each Lender Party, not later than five (5) Business Days after becoming aware any executive officer of Restricted Persons has knowledge thereof, notify Lender in writing, stating that such notice is being given pursuant to this Agreement, of:
(a) the occurrence of any Material Adverse Change;,
(b) the occurrence of any Default;,
(c) the acceleration of the maturity of any Indebtedness owed by any Restricted Person or of any default by any Restricted Person under any indenture, mortgage, agreement, contract or other instrument to which any of them is a party or by which any of them or any of their properties is bound which bound, if such acceleration or default could reasonably be expected to cause a Material Adverse Change;,
(d) the occurrence of any Termination Event;,
(e) any claim of $1,000,000 or more, any notice of potential liability under any Environmental Law adverse Laws which might be reasonably likely to a Restricted Person or of potential liability with respect to exceed such claimamount, or any other material adverse claim asserted against any Restricted Person or with respect to any Restricted Person’s 's properties taken as a whole which could reasonably be expected to cause a Material Adverse Change;whole, and
(f) the filing of any suit or proceeding against any Restricted Person; and
(g) any material change of accounting policies or financial reporting practices by any Restricted PersonPerson in which an adverse decision could cause a Material Adverse Change. Upon the occurrence of any of the foregoing, foregoing Restricted Persons will take all necessary or appropriate steps to remedy promptly any such Material Adverse Change, Default, acceleration, default, default or Termination Event, to protect against any such adverse claim, to defend any such suit or proceeding, and to resolve all controversies on account of any of the foregoing. Borrower Restricted Persons will also notify Lender Administrative Agent and Administrative Agent's counsel in writing at least fifteen (15) twenty Business Days prior to the date that any Restricted Person changes its name or the location of its chief executive office or principal place of business or the place where it keeps its location under books and records concerning the UCCCollateral, furnishing with such notice any necessary financing statement amendments or requesting Administrative Agent and its counsel to prepare the same.
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Notice of Material Events and Change of Address. Borrower ----------------------------------------------- and Parent will promptly, after becoming aware thereof, promptly notify each Lender in writing, stating that such notice is being given pursuant to this Agreement, of:
(a) the occurrence of any Material Adverse Change;,
(b) the occurrence of any Default;Default or Coverage Deficiency,
(c) the acceleration of the maturity of any Indebtedness Restricted Debt owed by any Restricted Related Person or of any default by any Restricted Related Person under any indenture, mortgage, agreement, contract or other instrument to which any of them is a party or by which any of them or any of their properties is bound which bound, if such acceleration or default could reasonably be expected to cause a Material Adverse Change;,
(d) the occurrence of any Termination Event;,
(e) any claim of $50,000 or more, any notice of potential liability under any Environmental Law adverse to a Restricted Person or of potential liability with respect to Laws which might exceed such claimamount, or any other material adverse claim asserted against any Restricted Related Person or with respect to any Restricted Related Person’s properties taken as a whole which could reasonably be expected to cause a Material Adverse Change;'s properties,
(f) the filing of any suit or proceeding against any Restricted Person; Related Person in which an adverse decision could cause a Material Adverse Change, and
(g) any material change of accounting policies or financial reporting practices the receipt by any Restricted PersonRelated Person of a notice of any "Event of Default" under the Other Loan Documents. Upon the occurrence of any of the foregoing, Restricted foregoing Related Persons will take all necessary or appropriate steps to remedy promptly any such Material Adverse Change, Default, acceleration, default, default or Termination Event, to protect against any such adverse claim, to defend any such suit or proceeding, and to resolve all controversies on account of any of the foregoing. Borrower will also notify Lender Agent and Agent's counsel in writing at least fifteen (15) twenty Business Days prior to the date that any Restricted Related Person changes its name or the location of its chief executive office or principal place of business or the place where it keeps its location under books and records concerning the UCCCollateral, furnishing with such notice any necessary financing statement amendments or requesting Agent and its counsel to prepare the same.
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Notice of Material Events and Change of Address. Borrower will promptly, after becoming aware thereof, promptly notify Lender Administrative Agent in writing, stating that such notice is being given pursuant to this Agreement, of:
(a) the occurrence of any Material Adverse Change;,
(b) the occurrence of any Default;,
(c) the acceleration of the maturity of any Indebtedness owed by any Restricted Person or of any default by any Restricted Person under any indenture, mortgage, agreement, contract or other instrument to which any of them is a party or by which any of them or any of their properties is bound which bound, if such acceleration or default could reasonably be expected to cause a Material Adverse Change;,
(d) the occurrence of any Termination Event;,
(e) any claim of $1,000,000 or more, any notice of potential liability under any Environmental Law adverse to a Restricted Person or of potential liability with respect to Laws which might exceed such claimamount, or any other material adverse claim asserted against any Restricted Person or with respect to any Restricted Person’s properties taken as a whole which could reasonably be expected to cause a Material Adverse Change;properties,
(f) the filing of any suit or proceeding against any Restricted Person; Person in which an adverse decision could cause a Material Adverse Change, and
(g) the acquisition or creation of any material change Subsidiary of accounting policies or financial reporting practices by any Restricted PersonBorrower. Upon the occurrence of any of the foregoing, Restricted Persons will take all necessary or appropriate steps to remedy promptly any such Material Adverse Change, Default, acceleration, default, default or Termination Event, to protect against any such adverse claim, to defend any such suit or proceeding, and to resolve all controversies on account of any of the foregoing. Borrower will also notify Lender Administrative Agent and Administrative Agent’s counsel in writing at least fifteen (15) twenty Business Days prior to the date that any Restricted Person changes its name or the location of its chief executive office or principal place of business or the place where it keeps its location under books and records concerning the UCCCollateral, furnishing with such notice any necessary financing statement amendments or requesting Administrative Agent and its counsel to prepare the same.
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