Common use of Notice of Material Proceedings Clause in Contracts

Notice of Material Proceedings. Without limiting Section 8.27 or Section 8.25(b), promptly (and in any event within five (5) Business Days) upon the determination by either the Chief Financial Officer or the General Counsel of DBI that the commencement or existence of any litigation, arbitration or other proceeding with respect to any Driven Brands Entity would be reasonably likely to have a Material Adverse Effect, the Co-Issuers shall give written notice thereof to the Trustee, the Servicer and each Rating Agency.

Notice of Material Proceedings. Without limiting Section 8.27 or Section 8.25(b), promptly (and in any event within five (5) Business Days) upon the determination by either the Chief Financial Officer or the General Counsel of DBI ParentDBI that the commencement or existence of any litigation, arbitration or other proceeding with respect to any Driven Brands Entity would be reasonably likely to have a Material Adverse Effect, the Co-Issuers shall give written notice thereof to the Trustee, the Servicer and each Rating Agency.

Notice of Material Proceedings. Without limiting Section 8.27 or Section 8.25(b), promptly (and in any event within five (5) Business Days) upon the determination by either the Chief Financial Officer or the General Counsel of DBI Parent that the commencement or existence of any litigation, arbitration or other proceeding with respect to any Driven Brands Entity would be reasonably likely to have a Material Adverse Effect, the Co-Issuers Issuer shall give written notice thereof to the Trustee, the Servicer and each Rating Agency.

Notice of Material Proceedings. Without limiting Section 8.27 or Section 8.25(b), promptly (and in any event within five (5) Business Days) upon the determination by either the Chief Financial Officer or the General Counsel of DBI Parent that the commencement or existence of any litigation, arbitration or other proceeding with respect to any Driven Brands Entity would be reasonably likely to have a Material Adverse Effect, the Co-Issuers shall give written notice thereof to the Trustee, the Servicer and each Rating Agency.

Notice of Material Proceedings. Without limiting Section 8.27 or Section 8.25(b), promptly (and in any event within five (5) Business Days) upon the determination by either the Chief Financial Officer or the General Counsel of DBI Parent that the commencement or existence of any litigation, arbitration or other proceeding with respect to any Driven Brands Entity would be reasonably likely to have a Material Adverse Effect, the CoIssuerCo-Issuers shall give written notice thereof to the Trustee, the Servicer and each Rating Agency.