Common use of Notices of Default and Other Significant Events Clause in Contracts

Notices of Default and Other Significant Events. Written notice to Administrative Agent promptly (but, in any event, within five Business Days) after Borrower becomes aware that a Default has occurred or that any event has occurred or that any circumstance exists that could reasonably be expected have a Material Adverse Effect, including: (a) any material dispute arises between Borrower and any Governmental Authority; (b) the making of a demand or the commencement of any proceeding against Borrower or related to the Properties with an amount in controversy in excess of $100,000; (c) a proposal by any Governmental Authority to acquire any of the Collateral by condemnation or eminent domain that could reasonably be expected to have a Material Adverse Effect; (d) any change in (i) Borrower’s company name (including the creation or change of any trade name); (ii) the location of Borrower’s principal office; (iii) Borrower’s company structure or the jurisdiction in which Borrower is organized; (iv) Borrower’s organizational identification number; or (v) Borrower’s federal taxpayer identification number; (e) the revocation, suspension, forfeiture, expiration or material modification of any Permit that could reasonably be expected to have a Material Adverse Effect; (f) any material loss of or damage to any Collateral, or any material change in Borrower’s business or operations; (g) the failure or refusal to make any payment when due in respect of any Debt that could reasonably be expected to have a Material Adverse Effect; and (h) the occurrence of any event of circumstance that could, if it continues, constitute a default by any Person under any of the Basic Documents. Each notice will describe, in reasonable detail, the nature of the Default, event or circumstance, it’s anticipated effect on Borrower and the Collateral, and what responsive action(s) Borrower proposes to take.

Notices of Default and Other Significant Events. Written notice to Administrative Agent promptly (but, in any event, within five three Business Days) after Borrower becomes aware that a Default has occurred or that any event has occurred or that any circumstance exists that could reasonably be expected have a Material Adverse Effect, including: (a) any material dispute arises between Borrower and any Governmental Authority; (b) the making of a demand or the commencement of any proceeding against Borrower or related to the Properties with an amount in controversy in excess of $100,000; (c) a proposal by any Governmental Authority to acquire any of the Collateral by condemnation or eminent domain that could reasonably be expected to have a Material Adverse Effect; (d) any change in (i) Borrower’s company name (including the creation or change of any trade name); (ii) the location of Borrower’s principal office; (iii) Borrower’s company structure or the jurisdiction in which Borrower is organized; (iv) Borrower’s organizational identification number; or (v) Borrower’s federal taxpayer identification number; (e) the revocation, suspension, forfeiture, expiration or material modification of any Permit that could reasonably be expected to have a Material Adverse Effect; (f) any material loss of or damage to any Collateral, or any material change in Borrower’s business or operations; (g) the failure or refusal to make any payment when due in respect of any Debt that could reasonably be expected to have a Material Adverse EffectDebt; and (h) the occurrence of any event of circumstance that could, if it continues, constitute a default by any Person under any of the Basic Documents. Each notice will describe, in reasonable detail, the nature of the Default, event or circumstance, it’s anticipated effect on Borrower and the Collateral, and what responsive action(s) Borrower proposes to take.

Notices of Default and Other Significant Events. Written notice to Administrative Agent promptly (but, in any event, within five Business Days) after Borrower becomes aware that a Default has occurred or that any event has occurred or that any circumstance exists that could reasonably be expected have a Material Adverse Effect, including: (a) any material dispute arises between Borrower and any Governmental Authority; (b) the making of a demand or the commencement of any proceeding against Borrower or related to the Properties with an amount in controversy in excess of $100,000200,000; (c) a proposal by any Governmental Authority to acquire any of the Collateral by condemnation or eminent domain that could reasonably be expected to have a Material Adverse Effect; (d) any change in (i) Borrower’s company name (including the creation or change of any trade name); (ii) the location of Borrower’s principal office; (iii) Borrower’s company structure or the jurisdiction in which Borrower is organized; (iv) Borrower’s organizational identification number; or (v) Borrower’s federal taxpayer identification number; (e) the revocation, suspension, forfeiture, expiration or material modification of any Permit that could reasonably be expected to have a Material Adverse Effect; (f) any material loss of or damage to any Collateral, or any material change in Borrower’s business or operations; (g) the failure or refusal to make any payment when due in respect of any Debt that could reasonably be expected to have a Material Adverse EffectDebt; and (h) the occurrence of any event of circumstance that could, if it continues, constitute a default by any Person under any of the Basic Documents. Each notice will describe, in reasonable detail, the nature of the Default, event or circumstance, it’s anticipated effect on Borrower and the Collateral, and what responsive action(s) Borrower proposes to take.