Common use of Notice to the Lender Clause in Contracts

Notice to the Lender. As soon as possible, and in any event within five days after the Borrower learns of the following, the Borrower will give written notice to the Lender of the following: (a) any proceeding instituted or threatened to be instituted by or against the Borrower in any federal, state, local, or foreign court or before any commission or other regulatory body (federal, state, local, or foreign) involving a sum, together with the sum involved in all other similar proceedings, in excess of $50,000 in the aggregate, (b) any contract that is terminated or amended and which termination or amendment has had or could reasonably be expected to have a Material Adverse Effect on the Borrower, (c) the occurrence of any Material Adverse Change with respect to the Borrower; (d) the occurrence of any Event of Default or event or condition which, with notice or lapse of time or both, would constitute an Event of Default, together with a statement of the action which the Borrower has taken or proposes to take with respect thereto; (e) of any discovery or determination by Borrower that any computer application (including those of its suppliers and vendors) that is material to its business and operations will not be Year 2000 compliant on a timely basis, except to the extent that such failure could not reasonably be expected to have a Material Adverse Effect on the Borrower; (f) of any material damage to, the destruction of or any other material loss to any Collateral owned or used by Borrower other than any such Collateral with a net book value (individually or in the aggregate) less than $50,000 or any condemnation, confiscation or other taking, in whole or in part, or any event that otherwise diminishes so as to render impracticable or unreasonable the use of such Collateral owned or used by Borrower together with a good faith estimate of the amount of the damage, destruction, loss or diminution in value; (g) of any copyright registration made by it, any rights Borrower may obtain to any copyrightable works, new trademarks or any patentable inventions, and of any renewal or extension of any trademark registration, or if it shall otherwise become entitled to the benefit of any patent or patent application or trademark or trademark application; and (h) of the opening by the Borrower of any new bank account or other deposit account, and any new securities account.

Notice to the Lender. As soon as possible, and in any event within five days after the Borrower learns of the following, the Borrower The Borrowers will promptly give written notice to the Lender of the followingas soon as any Borrower becomes aware of: (a) any proceeding instituted Any Event of Default or threatened to be instituted by or against the Borrower in any federal, state, local, or foreign court or before any commission or other regulatory body (federal, state, local, or foreign) involving a sum, together with the sum involved in all other similar proceedings, in excess Potential Event of $50,000 in the aggregate,Default; (b) any contract that is terminated or amended and which termination or amendment has had or could reasonably be expected to have a Material Adverse Effect on the Borrower, (c) the occurrence Any default under, breach of any Material Adverse Change with respect to the Borrower; (d) the occurrence of any Event of Default or event or condition which, with notice or lapse of time or both, would constitute become a material default under or breach of any other Loan Document; (c) Any loss or damage to the Collateral in excess of $100,000, exclusive of diminution in value caused solely by changes in the price of Gold, Silver or Copper from time to time; (d) The consummation by any Borrower of any purchase or acquisition of a Royalty Interest, whether a new Royalty Interest or an Event of Default, together with a statement of the action which the Borrower has taken addition to or proposes to take with respect theretoincrease in an existing Royalty Interest; (e) of any discovery or determination Any additional interests in the Project Properties acquired by a Borrower that any computer application (including those of its suppliers and vendors) that is material to its business and operations will which are not be Year 2000 compliant on a timely basis, except to included in the extent that such failure could not reasonably be expected to have a Material Adverse Effect on the BorrowerCollateral; (f) of Every default or other adverse claim, demand or litigation made by any material damage toPerson which would, the destruction of if successful, constitute a Material Adverse Effect, or with respect to any Royalty Interest or any other Collateral could have a material loss to any Collateral owned adverse effect on such Royalty Interest or used by Borrower other than any such Collateral with a net book value (individually or in the aggregate) less than $50,000 or any condemnation, confiscation or other taking, in whole or in part, or any event that otherwise diminishes so as to render impracticable or unreasonable the use of such Collateral owned or used by Borrower together with a good faith estimate of the amount of the damage, destruction, loss or diminution in valueCollateral; (g) Every notice, and the contents thereof, received by a Borrower in relation to any renewal of any copyright registration made rights with respect to, or having a material adverse effect upon any Royalty Interest or Project including (without limitation) notices pertaining to the loss of or a failure to obtain or a failure to be able to renew such interest in a material part of such Project, together with a copy of such notice if in writing; (h) Every press release issued by it, any rights a Borrower may obtain to any copyrightable works, new trademarks or any patentable inventionstogether with a copy of such press release, and any other occurrence, matter, event or thing (other than changes in the price of any renewal Gold) constituting a Material Adverse Effect, together with a reasonably detailed explanation of such other occurrence, matter, event or extension of any trademark registration, or if it shall otherwise become entitled to the benefit of any patent or patent application or trademark or trademark applicationand thing; and (hi) Each material memorandum, letter or report received by a Borrower from any Project Manager concerning any Royalty Interest or Project, including (to the extent received by a Borrower and not subject to confidentiality restrictions that prevent such Borrower from disclosure thereof) the annual strategic business plan for the Pipeline Project and all reserve, mine plan and/or operating reports for the Projects or the Project Properties, together with a copy of the opening by the Borrower of any new bank account or other deposit account, such plans and any new securities accountreports.

Notice to the Lender. As soon as possible, and in any event within five days after the Borrower learns of the following, the The Borrower will promptly give written notice to the -------------------- Lender of the followingas soon as it becomes aware of: (a) any proceeding instituted Any Event of Default or threatened to be instituted by or against the Borrower in any federal, state, local, or foreign court or before any commission or other regulatory body (federal, state, local, or foreign) involving a sum, together with the sum involved in all other similar proceedings, in excess Potential Event of $50,000 in the aggregate,Default; (b) any contract that is terminated or amended and which termination or amendment has had or could reasonably be expected to have a Material Adverse Effect on the Borrower, (c) the occurrence Any default under, breach of any Material Adverse Change with respect to the Borrower; (d) the occurrence of any Event of Default or event or condition which, with notice or lapse of time or both, would constitute an Event become a material default under or breach of Defaultany other Loan Document; (c) Any loss or damage to the Collateral in excess of $100,000, together with a statement exclusive of diminution in value caused solely by changes in the action which price of Gold from time to time; (d) Any additional interests in the Project Properties acquired by the Borrower has taken or proposes to take with respect theretowhich are not included in the Collateral; (e) of Every default or other adverse claim, demand or litigation made by any discovery or determination by Borrower that any computer application (including those of its suppliers and vendors) that is material to its business and operations will not be Year 2000 compliant on a timely basisPerson which would, except to the extent that such failure could not reasonably be expected to have if successful, constitute a Material Adverse Effect Effect, or with respect to any Royalty Interest or any other Collateral could have a material adverse effect on the Borrowersuch Royalty Interest or Collateral; (f) Every notice, and the contents thereof, received by the Borrower in relation to any renewal of any material damage rights with respect to, or having a material adverse effect upon any Royalty Interest or Project including (without limitation) notices pertaining to the destruction loss of or any other a failure to obtain or a failure to be able to renew such interest in a material loss to any Collateral owned or used by Borrower other than any such Collateral with a net book value (individually or in the aggregate) less than $50,000 or any condemnation, confiscation or other taking, in whole or in part, or any event that otherwise diminishes so as to render impracticable or unreasonable the use part of such Collateral owned or used by Borrower Project, together with a good faith estimate copy of the amount of the damage, destruction, loss or diminution such notice if in valuewriting; (g) Every press release issued by the Borrower together with a copy of any copyright registration made by it, any rights Borrower may obtain to any copyrightable works, new trademarks or any patentable inventionssuch press release, and any other occurrence, matter, event or thing (other than changes in the price of any renewal Gold) constituting a Material Adverse Effect, together with a reasonably detailed explanation of such other occurrence, matter, event or extension of any trademark registration, or if it shall otherwise become entitled to the benefit of any patent or patent application or trademark or trademark applicationand thing; and (h) of the opening Each material memorandum, letter or report received by the Borrower from any Project Manager concerning any Royalty Interest or Project, including (to the extent received by the Borrower and not subject to confidentiality restrictions that prevent the Borrower from disclosure thereof) the annual strategic business plan for the Pipeline Project and all reserve, mine plan and/or operating reports for the Projects or the Project Properties, together with a copy of any new bank account or other deposit account, such plans and any new securities accountreports.

Notice to the Lender. As soon as possible, and in any event within five days after the Borrower learns of the following, the Borrower will give written notice to the Lender of the following: (a) any proceeding instituted or threatened to be instituted by or against the Borrower in any federal, state, local, or foreign court or before any commission or other regulatory body (federal, state, local, or foreign) involving a sum, together with the sum involved in all other similar proceedings, in excess of $50,000 in the aggregate, (b) any contract that is terminated or amended and which termination or amendment has had or could reasonably be expected to have a Material Adverse Effect on the Borrower, (c) the occurrence of any Material Adverse Change with respect to the Borrower; (d) the occurrence of any Event of Default or event or condition which, with notice or lapse of time or both, would constitute an Event of Default, together with a statement of the action which the Borrower has taken or proposes to take with respect thereto; (e) of any discovery or determination by Borrower that any computer application (including those of its suppliers and vendors) that is material to its business and operations will not be Year 2000 compliant on a timely basis, except to the extent that such failure could not reasonably be expected to have a Material Adverse Effect on the BorrowerEffect; (f) of any material damage to, the destruction of or any other material loss to any Collateral owned or used by Borrower other than any such Collateral with a net book value (individually or in the aggregate) less than $50,000 10,000 or any condemnation, confiscation or other taking, in whole or in part, or any event that otherwise diminishes so as to render impracticable or unreasonable the use of such Collateral owned or used by Borrower together with a good faith estimate of the amount of the damage, destruction, loss or diminution in value; (g) of any copyright registration made by it, any rights Borrower may obtain to any copyrightable works, new trademarks or any new patentable inventions, and of any renewal or extension of any trademark registration, or if it shall otherwise become entitled to the benefit of any patent or patent application or trademark or trademark application; and (h) of the opening by the Borrower of any new bank account or other deposit account, and any new securities account.

Notice to the Lender. As soon as possible, and in any event within five days after the Borrower learns of the following, the Borrower will give written notice to the Lender of the following: (a) any proceeding instituted or threatened to be instituted by or against the Borrower in any federal, state, local, or foreign court or before any commission or other regulatory body (federal, state, local, or foreign) involving a sum, together with the sum involved in all other similar proceedings, in excess of $50,000 in the aggregate, (b) any contract that is terminated or amended and which termination or amendment has had or could reasonably be expected to have a Material Adverse Effect on the Borrower, (c) the occurrence of any Material Adverse Change with respect to the Borrower; (d) the occurrence of any Event of Default or event or condition which, with notice or lapse of time or both, would constitute an Event of Default, together with a statement of the action which the Borrower has taken or proposes to take with respect thereto; (e) of any discovery or determination by Borrower that any computer application (including those of its suppliers and vendors) that is material to its business and operations will not be Year 2000 compliant on a timely basis, except to the extent that such failure could not reasonably be expected to have a Material Adverse Effect on the BorrowerEffect; (f) of any material damage to, the destruction of or any other material loss to any Collateral owned or used by Borrower other than any such Collateral with a net book value (individually or in the aggregate) less than $50,000 or any condemnation, confiscation or other taking, in whole or in part, or any event that otherwise diminishes so as to render impracticable or unreasonable the use of such Collateral owned or used by Borrower together with a good faith estimate of the amount of the damage, destruction, loss or diminution in value; (g) of any copyright registration made by it, any rights Borrower may obtain to any copyrightable works, new trademarks or any new patentable inventions, and of any renewal or extension of any trademark registration, or if it shall otherwise become entitled to the benefit of any patent or patent application or trademark or trademark application; and (h) of the opening by the Borrower of any new bank account or other deposit account, and any new securities account.

Notice to the Lender. As soon as possible, and in any event within five days after the Borrower learns of the following, the The Borrower will promptly give written notice to the Lender of the followingas soon as it becomes aware of: (a) any proceeding instituted Any Event of Default or threatened to be instituted by or against the Borrower in any federal, state, local, or foreign court or before any commission or other regulatory body (federal, state, local, or foreign) involving a sum, together with the sum involved in all other similar proceedings, in excess Potential Event of $50,000 in the aggregate,Default; (b) any contract that is terminated or amended and which termination or amendment has had or could reasonably be expected to have a Material Adverse Effect on the Borrower, (c) the occurrence Any default under, breach of any Material Adverse Change with respect to the Borrower; (d) the occurrence of any Event of Default or event or condition which, with notice or lapse of time or both, would constitute become a material default under or breach of any other Loan Document; (c) Any loss or damage to the Collateral in excess of $100,000, exclusive of diminution in value caused solely by changes in the price of Gold from time to time; (d) The consummation by Borrower of any purchase or acquisition of a Royalty Interest, whether a new Royalty Interest or an Event of Default, together with a statement of the action which the Borrower has taken addition to or proposes to take with respect theretoincrease in an existing Royalty Interest; (e) of any discovery or determination Any additional interests in the Project Properties acquired by the Borrower that any computer application (including those of its suppliers and vendors) that is material to its business and operations will which are not be Year 2000 compliant on a timely basis, except to included in the extent that such failure could not reasonably be expected to have a Material Adverse Effect on the BorrowerCollateral; (f) of Every default or other adverse claim, demand or litigation made by any material damage toPerson which would, the destruction of if successful, constitute a Material Adverse Effect, or with respect to any Royalty Interest or any other Collateral could have a material loss to any Collateral owned adverse effect on such Royalty Interest or used by Borrower other than any such Collateral with a net book value (individually or in the aggregate) less than $50,000 or any condemnation, confiscation or other taking, in whole or in part, or any event that otherwise diminishes so as to render impracticable or unreasonable the use of such Collateral owned or used by Borrower together with a good faith estimate of the amount of the damage, destruction, loss or diminution in valueCollateral; (g) Every notice, and the contents thereof, received by the Borrower in relation to any renewal of any copyright registration made rights with respect to, or having a material adverse effect upon any Royalty Interest or Project including (without limitation) notices pertaining to the loss of or a failure to obtain or a failure to be able to renew such interest in a material part of such Project, together with a copy of such notice if in writing; (h) Every press release issued by it, any rights the Borrower may obtain to any copyrightable works, new trademarks or any patentable inventionstogether with a copy of such press release, and any other occurrence, matter, event or thing (other than changes in the price of any renewal Gold) constituting a Material Adverse Effect, together with a reasonably detailed explanation of such other occurrence, matter, event or extension of any trademark registration, or if it shall otherwise become entitled to the benefit of any patent or patent application or trademark or trademark applicationand thing; and (hi) of the opening Each material memorandum, letter or report received by the Borrower from any Project Manager concerning any Royalty Interest or Project, including (to the extent received by the Borrower and not subject to confidentiality restrictions that prevent the Borrower from disclosure thereof) the annual strategic business plan for the Pipeline Project and all reserve, mine plan and/or operating reports for the Projects or the Project Properties, together with a copy of any new bank account or other deposit account, such plans and any new securities accountreports.

Notice to the Lender. As soon as possible, and in any event within five days after the Borrower learns of the following, the Borrower will give written notice to the Lender of the following: (a) any proceeding instituted or threatened to be instituted by or against the Borrower in any federal, state, local, or foreign court or before any commission or other regulatory body (federal, state, local, or foreign) involving a sum, together with the sum involved in all other similar proceedings, in excess of $50,000 100,000 in the aggregate, (b) any contract that is us terminated or amended and which termination or amendment has had or could reasonably reasonable be expected to have a Material Adverse Effect on the Borrower,; (c) the occurrence of any Material Adverse Change with respect to the Borrower; (d) the occurrence of any Event of Default or event Event or condition which, with notice or lapse of time or both, would constitute an Event of Default, together with a statement of the action which the Borrower has taken or proposes to take with respect thereto; (e) of any discovery or determination by Borrower that any computer application (including those of its suppliers and vendors) that is material to its business and operations will not be Year 2000 compliant on a timely basis, except to the extent that such failure could not reasonably be expected to have a Material Adverse Effect on the BorrowerEffect; (f) of any material damage to, the destruction of or any other material loss to any Collateral owned or used by Borrower other than any such Collateral with a net book value (individually or in the aggregate) less than $50,000 10,000 or any condemnation, confiscation or other taking, in whole or in part, or any event that otherwise diminishes so as to render impracticable or unreasonable the use of such Collateral owned or used by Borrower together with a good faith estimate of the amount of the damage, destruction, loss or diminution in value; (g) of any copyright registration made by it, any rights Borrower may obtain to any copyrightable works, new trademarks or any new patentable inventions, and of any renewal or extension of any trademark registration, or if it shall otherwise become entitled to the benefit of any patent or patent application or trademark or trademark application; and (h) of the opening by the Borrower of any new bank account or other deposit account, and any new securities account.

Notice to the Lender. As soon as possible, and in any event within five days after the Borrower learns of the following, the Borrower will give written notice to the Lender of the following: (a) any proceeding instituted or threatened to be instituted by or against the Borrower in any federal, state, local, or foreign court or before any commission or other regulatory body (federal, state, local, or foreign) involving a sum, together with the sum involved in all other similar proceedings, in excess of $50,000 in the aggregate, (b) any material contract that is terminated or amended and which termination or amendment has had or could reasonably be expected to have a Material Adverse Effect on the Borrower, (c) the occurrence of any Material Adverse Change with respect to the Borrower; (d) the occurrence of any Event of Default or event or condition which, with notice or lapse of time or both, would constitute an Event of Default, together with a statement of the action which the Borrower has taken or proposes to take with respect thereto; (e) of any discovery or determination by Borrower that any computer application (including those of its suppliers and vendors) that is material to its business and operations will not be Year 2000 compliant on a timely basis, except to the extent that such failure could not reasonably be expected to have a Material Adverse Effect on the BorrowerEffect; (f) of any material damage to, the destruction of or any other material loss to any Collateral owned or used by Borrower other than any such Collateral with a net book value (individually or in the aggregate) less than $50,000 10,000 or any condemnation, confiscation or other taking, in whole or in part, or any event that otherwise diminishes so as to render impracticable or unreasonable the use of such Collateral owned or used by Borrower together with a good faith estimate of the amount of the damage, destruction, loss or diminution in value; (g) of any material copyright registration made by it, any material rights Borrower may obtain to any copyrightable works, new trademarks or any new patentable inventions, and of any renewal or extension of any material trademark registration, or if it shall otherwise become entitled to the benefit of any patent or patent application or material trademark or trademark application; and (h) of the opening by the Borrower of any new bank account or other deposit account, and any new securities account.

Notice to the Lender. As soon as possible, and in any event within five days after the Borrower learns of the following, the Borrower will give written notice to the Lender of the following: (a) any proceeding instituted or threatened to be instituted by or against the Borrower in any federal, state, local, or foreign court or before any commission or other regulatory body (federal, state, local, or foreign) involving a sum, together with the sum involved in all other similar proceedings, in excess of $50,000 100,000 in the aggregate, (b) any contract that is terminated or amended and which termination or amendment has had or could reasonably be expected to have a Material Adverse Effect on the Borrower, (c) the occurrence of any Material Adverse Change with respect to the Borrower; (d) the occurrence of any Event of Default or event or condition which, with notice or lapse of time or both, would constitute an Event of Default, together with a statement of the action which the Borrower has taken or proposes to take with respect thereto; (e) of any discovery or determination by Borrower that any computer application (including those of its suppliers and vendors) that is material to its business and operations will not be Year 2000 compliant on a timely basis, except to the extent that such failure could not reasonably be expected to have a Material Adverse Effect on the BorrowerEffect; (f) of any material damage to, the destruction of or any other material loss to any Collateral owned or used by Borrower other than any such Collateral with a net book value (individually or in the aggregate) less than $50,000 or any condemnation, confiscation or other taking, in whole or in part, or any event that otherwise diminishes so as to render impracticable or unreasonable the use of such Collateral owned or used by Borrower together with a good faith estimate of the amount of the damage, destruction, loss or diminution in value;; and (g) of any copyright registration made by it, any rights Borrower may obtain to any copyrightable works, new trademarks or any patentable inventions, and of any renewal or extension of any trademark registration, or if it shall otherwise become entitled to the benefit of any patent or patent application or trademark or trademark application; and (h) of the opening by the Borrower of any new bank account or other deposit account, and any new securities account.

Notice to the Lender. As soon as possible, and in any event within five days after the Borrower learns of the following, the Borrower will give written notice to the Lender of the following: (a) any proceeding instituted or threatened to be instituted by or against the Borrower in any federal, state, local, or foreign court or before any commission or other regulatory body (federal, state, local, or foreign) involving a sum, together with the sum involved in all other similar proceedings, in excess of $50,000 100,000 in the aggregate, (b) any contract that is terminated or amended and which termination or amendment has had or could reasonably be expected to have a Material Adverse Effect on the Borrower, (c) the occurrence of any Material Adverse Change with respect to the Borrower; (d) the occurrence of any Event of Default or event or condition which, with notice or lapse of time or both, would constitute an Event of Default, together with a statement of the action which the Borrower has taken or proposes to take with respect thereto; (e) of any discovery or determination by Borrower that any computer application (including those of its suppliers and vendors) that is material to its business and operations will not be Year 2000 compliant on a timely basis, except to the extent that such failure could not reasonably be expected to have a Material Adverse Effect on the BorrowerEffect; (f) of any material damage to, the destruction of or any other material loss to any Collateral owned or used by Borrower other than any such Collateral with a net book value (individually or in the aggregate) less than $50,000 or any condemnation, confiscation or other taking, in whole or in part, or any event that otherwise diminishes so as to render impracticable or unreasonable the use of such Collateral owned or used by Borrower together with a good faith estimate of the amount of the damage, destruction, loss or diminution in value; (g) of any copyright registration made by it, any rights Borrower may obtain to any copyrightable works, new trademarks or any new patentable inventions, and of any renewal or extension of any trademark registration, or if it shall otherwise become entitled to the benefit of any patent or patent application or trademark or trademark application; and (h) of the opening by the Borrower of any new bank account or other deposit account, and any new securities account.