Common use of Notice of Suit or Adverse Change in Business Clause in Contracts

Notice of Suit or Adverse Change in Business. The Borrower shall give written notice to each Lender (a) as soon as possible, and in any event within five business days after the Borrower receives actual notice (written or oral) of any material proceeding(s) being instituted against the Borrower or any Subsidiary in any federal, state, or local court or before any commission or other regulatory body (federal, state, or local), and (b) as soon as possible, and in any event within five business days after the Borrower learns of any material adverse change in the financial condition, results of operations, business, or assets of the Borrower and its Subsidiaries taken as a whole.

Notice of Suit or Adverse Change in Business. The Borrower shall give written notice to each the Lender (a) as soon as possible, and in any event within five business days after the Borrower receives actual notice (written or oral) of any material proceeding(s) being instituted against the Borrower or any Subsidiary in any federal, state, or local court or before any commission or other regulatory body (federal, state, or local), and (b) as soon as possible, and in any event within five business days after the Borrower learns of any material adverse change in the financial condition, results of operations, business, or assets of the Borrower and its Subsidiaries taken as a whole.