Common use of Notice of Material Proceedings Clause in Contracts

Notice of Material Proceedings. Without limiting Section 8.25(b) or Section 8.30, promptly (and in any event within ten (10) days) of a determination by an Authorized Officer of the Securitization Entities that the commencement or existence of any litigation, arbitration or other proceeding with respect to any Non-Securitization Entity would reasonably be expected to result in a Material Adverse Effect), the Master Issuer shall give written notice thereof to the Trustee, the Servicer, the Manager, the Back-Up Manager, the Controlling Class Representative and each Rating Agency with respect to each Series of Notes Outstanding.

Notice of Material Proceedings. Without limiting Section 8.25(b) 8.30 or Section 8.308.25(b), promptly (and in any event within ten (10) days) of a upon the determination by an Authorized Officer either the chief financial officer or the chief legal officer of the Securitization Entities DBI that the commencement or existence of any litigation, arbitration or other proceeding with respect to any Non-Securitization Dunkin’ Entity would be reasonably be expected to result in a Material Adverse Effect), the Master Issuer shall give written notice thereof to the Trustee, the Servicer, the Manager, the Back-Up Manager, the Controlling Class Representative and each the Rating Agency Agencies with respect to each Series of Notes Outstanding.