Common use of Notice of Material Litigation Clause in Contracts

Notice of Material Litigation. The Canadian Borrower shall promptly give written notice to the Agent of any litigation, proceeding or dispute affecting the Canadian Borrower or any of its Subsidiaries in respect of a demand or claim in respect of which there is a reasonable possibility of an adverse determination and which if adversely determined would reasonably be expected either to result in a liability, obligation or judgment in excess of U.S.$20,000,000 (or the Equivalent Amount thereof in Canadian Dollars or the equivalent thereof in any other currency) or to have a Material Adverse Effect, and shall from time to time furnish to the Agent all reasonable information requested by the Agent concerning the status of any such litigation, proceeding or dispute.

Notice of Material Litigation. The Canadian Borrower shall promptly give written notice to the Agent of any litigation, proceeding or dispute affecting either Borrower, any of the Canadian Borrower Guarantors or any of its the Material Subsidiaries in respect of a demand or claim in respect of which there is a reasonable possibility likelihood of an adverse determination and which if adversely determined would reasonably be expected either to result in a liability, obligation or judgment in excess of U.S.$20,000,000 5% of Consolidated Net Tangible Assets (or the Equivalent Amount thereof in Canadian Dollars or the equivalent thereof aggregate at any point in any other currencytime) or to have a Material Adverse Effect, and shall from time to time furnish to the Agent all reasonable information requested by the Agent concerning the status of any such litigation, proceeding or dispute.

Notice of Material Litigation. The Canadian Borrower shall promptly give written notice to the Agent of any litigation, proceeding or dispute affecting the Canadian Borrower or any of its Subsidiaries in respect of a demand or claim in respect of which there is a reasonable possibility of an adverse determination and which if adversely determined would reasonably be expected either to result in a liability, obligation or judgment in excess of U.S.$20,000,000 Cdn.$25,000,000 (or the Equivalent Amount thereof in Canadian United States Dollars or the equivalent thereof in any other currency) or to have a Material Adverse Effect, and shall from time to time furnish to the Agent all reasonable information requested by the Agent concerning the status of any such litigation, proceeding or dispute.