Common use of Notice of Occurrences Clause in Contracts

Notice of Occurrences. The Borrower shall give to the Agent written notification (promptly after the Borrower becomes aware thereof) of the existence or occurrence of: (a) the occurrence of an Event of Default or Potential Event of Default hereunder; (b) any proceedings instituted by or against the Borrower or any Subsidiary in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or any such proceedings threatened against the Borrower or any Subsidiary by any governmental agency, or any change in law or regulation applicable to the Borrower or one or more of its Subsidiaries, which event alone or in the aggregate is, in the Borrower's reasonable judgment, likely to have a material adverse effect upon the Borrower's ability or a Guarantor's ability to perform its obligations under its Operative Documents; (c) any default or event of default involving the payment of money under any agreement or instrument which is material to the Borrower or any Subsidiary to which such entity is a party or by which it or any of its property may be bound, and which default or event of default would have a material adverse effect upon the Borrower's ability or a Guarantor's ability to perform its obligations under its Operative Documents; (d) the commencement of any proceeding under the Federal Bankruptcy Code or similar law affecting creditor's rights by or against the Borrower or any Subsidiary; and (e) pending or threatened litigation exists against the Borrower or any Subsidiary with a prayer for damages in excess of $10,000,000 or for any other relief which is likely to have a material adverse effect upon the Borrower's ability or a Guarantor's ability to perform its obligations under its Operative Documents.

Notice of Occurrences. The Borrower shall give to the Agent written notification (promptly after the Borrower becomes aware thereof) of the existence or occurrence of: (a) the occurrence of an Event of Default or Potential Event of Default hereunder; (b) any proceedings instituted by or against the Borrower or any Subsidiary in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or any such proceedings threatened against the Borrower or any Subsidiary by any governmental agency, or any change in law or regulation applicable to the Borrower or one or more of its Subsidiaries, which event alone or in the aggregate is, in the Borrower's reasonable judgment, likely to have a material adverse effect upon the Borrower's ability or a Guarantor's ability to perform its obligations under its Operative Documents; (c) any default or event of default involving the payment of money under any agreement or instrument which is material to the Borrower or any Subsidiary to which such entity is a party or by which it or any of its property may be bound, and which default or event of default would have a material adverse effect upon the Borrower's ability or a Guarantor's ability to perform its obligations under its Operative Documents; (d) the commencement of any proceeding under the Federal Bankruptcy Code or similar law affecting creditor's rights by or against the Borrower or any Subsidiary; and (e) pending or threatened litigation exists against the Borrower or any Subsidiary with a prayer for damages in excess of $10,000,000 1,000,000 or for any other relief which is likely to have a material adverse effect upon the Borrower's ability or a Guarantor's ability to perform its obligations under its Operative Documents.

Notice of Occurrences. The Borrower shall give to the Agent FNBO written notification (promptly after the Borrower becomes aware thereof) of the existence or occurrence of: (a) the occurrence of an Event of Default or Potential Event of Default hereunder; (b) any proceedings instituted by or against the Borrower or any Subsidiary in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or any such proceedings threatened against the Borrower or any Subsidiary by any governmental agency, or any change in law or regulation applicable to the Borrower or one or more of its Subsidiaries, which event alone or in the aggregate is, in the Borrower's reasonable judgment, likely to have a material adverse effect upon the Borrower's ability or a Guarantor's ability to perform its obligations under its Operative Documents; (c) any default or event of default involving the payment of money under any agreement or instrument which is material to the Borrower or any Subsidiary to which such entity is a party or by which it or any of its property may be bound, and which default or event of default would have a material adverse effect upon the Borrower's ability or a Guarantor's ability to perform its obligations under its Operative Documents; (d) the commencement of any proceeding under the Federal Bankruptcy Code or similar law affecting creditor's rights by or against the Borrower or any Subsidiary; and (e) pending or threatened litigation exists against the Borrower or any Subsidiary with a prayer for damages in excess of $10,000,000 500,000 or for any other relief which is likely to have a material adverse effect upon the Borrower's ability or a Guarantor's ability to perform its obligations under its Operative Documents.

Notice of Occurrences. The Borrower shall give to the Agent written notification (promptly after the Borrower becomes aware thereof) of the existence or occurrence of: (a) any fact or event which results, or which with notice or the occurrence passage of time, or both, would result in an Event of Default or Potential Event of Default hereunder; (b) any proceedings instituted by or against the Borrower or any Subsidiary in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or any such proceedings threatened against the Borrower or any Subsidiary by any governmental agency, or any change in law or regulation applicable to the Borrower or one or more of its Subsidiaries, which event alone or in the aggregate is, in the Borrower's reasonable judgment, likely to have a material adverse effect upon the Borrower's ability or a Guarantor's ability to perform its obligations under its Operative Documents; (c) any default or event of default involving the payment of money under any agreement or instrument which is material to the Borrower or any Subsidiary to which such entity is a party or by which it or any of its property may be bound, and which default or event of default would have a material adverse effect upon the Borrower's ability or a Guarantor's ability to perform its obligations under its Operative Documents; (d) the commencement of any proceeding under the Federal Bankruptcy Code or similar law affecting creditor's rights by or against the Borrower or any Subsidiary; and (e) pending or threatened litigation exists against the Borrower or any Subsidiary with a prayer for damages in excess of $10,000,000 500,000 or for any other relief which is likely to have a material adverse effect upon the Borrower's ability or a Guarantor's ability to perform its obligations under its Operative Documents.