Common use of Notice of Potential Claims or Litigation Clause in Contracts

Notice of Potential Claims or Litigation. The Borrowers will give notice to the Administrative Agent and each of the Lenders in writing within thirty (30) days of becoming aware of any pending litigation or proceedings affecting any Borrower or to which any Borrower is or becomes a party (including without limitation any alleged violation of any Environmental Law) involving an uninsured claim against any Borrower, wherein the potential liability is in excess of $1,000,000, and stating the nature and status of such litigation or proceedings. The Borrowers will give notice to the Administrative Agent and each of the Lenders, in writing, in form and detail satisfactory to the Administrative Agent, within ten (10) days of any judgment not covered by insurance, final or otherwise, against any Borrower in an amount in excess of $1,000,000.

Notice of Potential Claims or Litigation. The Borrowers will give notice to the Administrative Agent and each of the Lenders in writing within thirty (30) days of becoming aware of any pending litigation or proceedings affecting any Borrower or to which any Borrower is or becomes a party (including without limitation any alleged violation of any Environmental Law) involving an uninsured claim against any Borrower, wherein the potential liability is in excess of $1,000,00010,000,000, and stating the nature and status of such litigation or proceedings. The Borrowers will give notice to the Administrative Agent and each of the Lenders, in writing, in form and detail satisfactory to the Administrative Agent, within ten (10) days of any judgment not covered by insurance, final or otherwise, against any Borrower in an amount in excess of $1,000,00010,000,000.