Notices Regarding Other Indebtedness Sample Clauses
The "Notices Regarding Other Indebtedness" clause requires a party, typically the borrower, to inform the lender if they incur additional debt or if there are significant changes related to their existing obligations. In practice, this means the borrower must promptly notify the lender if they take on new loans, default on other debts, or experience events that could affect their financial standing. This clause helps the lender monitor the borrower's overall debt exposure and manage credit risk, ensuring that the lender is aware of any developments that might impact the borrower's ability to repay the current loan.
Notices Regarding Other Indebtedness. (i) Reasonably practicably prior to the execution or effectiveness thereof, drafts of any amendment, modification, consent or waiver in respect of any Second Lien Credit Documents or any Junior Financing Documents to the extent any such amendment, modification, consent or waiver requires (x) the consent of the Administrative Agent or the Required Lenders or (y) a corresponding amendment, modification, consent or waiver under this Agreement or any other Credit Document, in each case, under the terms of the Intercreditor Agreement or the applicable intercreditor or subordination agreement governing such Junior Financing (and fully executed copies of same promptly following the execution and delivery thereof), (ii) promptly after execution or effectiveness thereof, copies of any amendment, modification, consent or waiver in respect of (A) the Second Lien Credit Documents or (B) such Junior Financing with an outstanding principal amount in excess of $10,000,000 to the extent any such amendment, modification, consent or waiver does not requires the consent of the Administrative Agent or a corresponding amendment, modification, consent or waiver under this Agreement or any other Credit Document under the terms of the applicable intercreditor or subordination agreement governing such Junior Financing and (iii) promptly upon receipt thereof, copies of each written notice of default or event of default received by Holdings, any Borrower or any of the Restricted Subsidiaries with respect to the Second Lien Term Facility and any other Indebtedness of Holdings or any of its Restricted Subsidiaries with an outstanding principal amount in excess of $10,000,000.