Common use of Notices of Litigation and Default Clause in Contracts

Notices of Litigation and Default. Borrower will give prompt written notice to Collateral Agent of any litigation or governmental proceedings pending or threatened (in writing) against Borrower, Guarantor or any of their Subsidiaries which could reasonably be expected to result in damages or costs to Borrower, Guarantor or any of their Subsidiaries of Two Hundred Fifty Thousand Dollars ($250,000) or more or which could reasonably be expected to have a material adverse effect with respect to Borrower’s business. Without limiting or contradicting any other more specific provision of this Agreement, promptly (and in any event within three (3) Business Days) upon Borrower becoming aware of the existence of any Event of Default or event which, with the giving of notice or passage of time, or both, would constitute an Event of Default, Borrower shall give written notice to Collateral Agent of such occurrence, which such notice shall include a reasonably detailed description of such Event of Default or event which, with the giving of notice or passage of time, or both, would constitute an Event of Default.

Notices of Litigation and Default. Borrower will give prompt written notice to Collateral Agent of any litigation or governmental proceedings pending or threatened (in writing) against Borrower, Guarantor or any of their Subsidiaries which could reasonably be expected to result in damages or costs to Borrower, Guarantor or any of their Subsidiaries of Two Hundred Fifty Thousand Dollars ($250,000200,000) or more or which has resulted in or could reasonably be expected to have result in a material adverse effect with respect to Borrower’s businessMaterial Adverse Change. Without limiting or contradicting any other more specific provision of this Agreement, promptly (and in any event within three (3) Business Days) upon Borrower becoming aware of the existence of any Event of Default or event which, with the giving of notice or passage of time, or both, would constitute an Event of Default, Borrower shall give written notice to Collateral Agent of such occurrence, which such notice shall include a reasonably detailed description of such Event of Default or event which, with the giving of notice or passage of time, or both, would constitute an Event of Default.

Notices of Litigation and Default. Borrower will give prompt written notice to Collateral Agent and Lenders of any litigation or governmental proceedings pending or threatened (in writing) against Borrower, Guarantor or any of their Subsidiaries Borrower’s Subsidiaries, which could reasonably be expected to result in damages or costs to Borrower, Guarantor or any of their Subsidiaries Borrower’s Subsidiaries, of Two Hundred Fifty Thousand Dollars ($250,000250,000.00) or more or which could reasonably be expected to have cause a material adverse effect with respect to Borrower’s businessMaterial Adverse Change. Without limiting or contradicting any other more specific provision of this Agreement, promptly (and in any event within three (3) Business Days) upon Borrower becoming aware of the existence of any Event of Default or event which, with the giving of notice or passage of time, or both, would constitute an Event of Default, Borrower shall give written notice to Collateral Agent and Lenders of such occurrence, which such notice shall include a reasonably detailed description of such Event of Default or event which, with the giving of notice or passage of time, or both, would constitute an Event of Default.

Notices of Litigation and Default. Borrower will give prompt written notice to Collateral Agent and Lenders of any litigation or governmental proceedings pending or threatened (in writing) against Borrower, Guarantor or any of their Subsidiaries Borrower’s Subsidiaries, which could reasonably be expected to result in damages or costs to Borrower, Guarantor or any of their Subsidiaries Borrower’s Subsidiaries, of Two Hundred Fifty Thousand Dollars ($250,000) or more or which could reasonably be expected to have cause a material adverse effect with respect to Borrower’s businessMaterial Adverse Change. Without limiting or contradicting any other more specific provision of this Agreement, promptly (and in any event within three (3) Business Days) upon Borrower becoming aware of the existence of any Event of Default or event which, with the giving of notice or passage of time, or both, would constitute an Event of Default, Borrower shall give written notice to Collateral Agent and Lenders of such occurrence, which such notice shall include a reasonably detailed description of such Event of Default or event which, with the giving of notice or passage of time, or both, would constitute an Event of Default.