Common use of NOTICE TO BANK OF ADVERSE CLAIMS Clause in Contracts

NOTICE TO BANK OF ADVERSE CLAIMS. The Borrower will promptly notify the Bank of (i) any litigation or any claim or controversy which might be the subject of litigation against the Borrower, if such litigation or potential litigation might, in the event of an unfavorable outcome, have a material adverse effect on Borrower's financial condition or might cause an Event of Default; (ii) any material adverse change in the financial condition or business of the Borrower, (iii) any other matter which in the opinion of the Borrower might materially adversely affect the financial condition of the Borrower; and (iv) the occurrence of any Event of Default. As used in this paragraph, the terms "material adverse effect," "material adverse change" and "materially adversely affect" shall refer to an event which potentially could cause the Borrower to be in violation of the Loan Agreement.

NOTICE TO BANK OF ADVERSE CLAIMS. The Borrower will promptly notify the Bank of (i) any litigation or any claim or controversy which might be the subject of litigation against the Borrower, if such litigation or potential litigation might, in the event of an unfavorable outcome, have a material adverse effect on Borrower's ’s financial condition or might cause an Event of Default; (ii) any material adverse change in the financial condition or business of the Borrower, (iii) any other matter which in the opinion of the Borrower might materially adversely affect the financial condition of the Borrower; and (iv) the occurrence of any Event of Default. As used in this paragraph, the terms "“material adverse effect," "” “material adverse change" ” and "“materially adversely affect" ” shall refer to an event which potentially could cause the Borrower to be in violation of the Loan Agreement.