Common use of Notice to Administrative Agent Clause in Contracts

Notice to Administrative Agent. Borrower shall promptly within five (5) days after first learning of the occurrence of any of the following events, notify Administrative Agent in writing thereof, specifying in each case the action Borrower has taken or will take with respect thereto: (a) any violation of any Law or governmental requirement; (b) any litigation, arbitration or governmental investigation or proceeding instituted or threatened in writing against Borrower or any Guarantor or the Property asserting criminal conduct or damages, penalties or claims in excess of $100,000 and any material development therein; (c) any actual or threatened in writing condemnation of any portion of the Property, any negotiations with respect to any such taking, or any loss of or substantial damage to the Property; (d) any labor controversy pending or threatened against Borrower, General Contractor, any other contractor, and any material development in any labor controversy; (e) any notice received by Borrower with respect to the cancellation, alteration or non-renewal of any insurance coverage maintained with respect to the Property; (f) any failure by Borrower or General Contractor or any other contractor, subcontractor or supplier to perform any material obligation under any construction contract, any event or condition which would permit termination of a construction contract or suspension of work thereunder, or any notice given by Borrower or General Contractor or any other contractor with respect to any of the foregoing; (g) any lien filed against the Property or any stop notice served on Borrower in connection with construction of the New Improvements; or (h) any required permit, license, certificate or approval with respect to the Property lapses or ceases to be in full force and effect.

Notice to Administrative Agent. Borrower shall promptly within five (5) days after first learning of the occurrence of any of the following events, notify Administrative Agent in writing thereof, specifying in each case the action Borrower has taken or will take with respect thereto: (a) any violation of any Law or governmental requirement; (b) any litigation, arbitration or governmental investigation or proceeding instituted or threatened in writing against Borrower or any Guarantor or the Property asserting criminal conduct or damages, penalties or claims in excess of $100,000 and any material development therein; (c) any actual or threatened in writing condemnation of any portion of the Property, any negotiations with respect to any such taking, or any loss of or substantial damage to the Property; (d) any labor controversy pending or threatened against Borrower, General Contractor, Borrower or any other contractor, and any material development in any labor controversy; (e) any notice received by Borrower with respect to the cancellation, alteration or non-renewal of any insurance coverage maintained with respect to the Property; (f) any failure by Borrower or General Contractor or any other contractor, subcontractor or supplier to perform any material obligation under any construction contract, any event or condition which would permit termination of a construction contract or suspension of work thereunder, or any notice given by Borrower or General Contractor or any other contractor with respect to any of the foregoing; (g) any lien filed against the Property or any stop notice served on Borrower in connection with construction of the New Improvements; or (h) any required permit, license, certificate or approval with respect to the Property lapses or ceases to be in full force and effect.

Notice to Administrative Agent. Borrower shall promptly shall, within five ten (510) calendar days after first learning Borrower obtains knowledge of the occurrence of any of the following events, notify Administrative Agent in writing thereof, specifying in each case the action Borrower has taken or will take with respect thereto, in each case if such event would have a Material Adverse Effect: (a) any violation of any Law law or governmental requirement; (b) any litigation, arbitration or governmental investigation or proceeding instituted or threatened in writing against Borrower or any Guarantor or the Property asserting criminal conduct or damagesPremises, penalties or claims in excess of $100,000 and any material development therein; (c) any actual or threatened in writing condemnation of any portion of the PropertyPremises, any negotiations with respect to any such taking, or any loss of or substantial damage to the PropertyPremises; (d) any labor controversy pending or threatened in writing against Borrower, General Contractor, Borrower or any other contractor, and any material development in any such labor controversy; (e) any notice received by Borrower with respect to the cancellation, alteration or non-non renewal of any insurance coverage maintained with respect to the PropertyPremises; (f) any failure by Borrower or General Contractor or any other contractor, subcontractor or supplier to perform any material obligation under any construction contractMaterial Contract, any event or condition which would permit termination of a construction contract Material Contract or suspension of work thereunder, or any notice given by Borrower or General Contractor or any other contractor with respect to any of the foregoing; (g) any failure by Borrower or any other party to perform any material obligation under any Project Agreement, any event or condition which would permit termination of a Project Agreement or right of any party to purchase or cause a conveyance of any portion of the Land or the Project under or pursuant to a Project Agreement, or any notice given by Borrower with respect to any of the foregoing; (h) any lien filed against the Property Premises or any stop notice served on Borrower in connection with construction of the New Improvements; or (hi) any required permit, license, certificate or approval with respect to the Property Premises lapses or ceases to be in full force and effect; or (j) any notice of the entry of any judgment in excess of $100,000.00 against Borrower and in excess of $25,000,000.00 against Guarantor.

Notice to Administrative Agent. Each Borrower shall promptly within five (5) days after first learning of the occurrence of any of the following events, notify Administrative Agent in writing thereof, specifying in each case the action such Borrower has taken or will take with respect thereto: (a) any violation of any Law or governmental requirement; (b) any litigation, arbitration or governmental investigation or proceeding instituted or threatened in writing against such Borrower or any Guarantor or the Property asserting criminal conduct or damages, penalties or claims in excess of $100,000 and any material development therein; (c) any actual or threatened in writing condemnation of any portion of the Property, any negotiations with respect to any such taking, or any loss of or substantial damage to the Property; (d) any labor controversy pending or threatened against such Borrower, General Contractor, any other contractor, and any material development in any labor controversy; (e) any notice received by such Borrower with respect to the cancellation, alteration or non-renewal of any insurance coverage maintained with respect to the Property; (f) any failure by Borrower or General Contractor or any other contractor, subcontractor or supplier to perform any material obligation under any construction contract, any event or condition which would permit termination of a construction contract or suspension of work thereunder, or any notice given by Borrower or General Contractor or any other contractor with respect to any of the foregoing; (g) any lien filed against the Property or any stop notice served on Borrower in connection with construction of the New Improvementsany Borrower; or (hg) any required permit, license, certificate or approval with respect to the Property lapses or ceases to be in full force and effect.