Common use of Notices to Bank Clause in Contracts

Notices to Bank. Each Borrower shall notify the Bank in writing of the following matters at the following times: (a) Immediately after becoming aware of the existence of any Default or Event of Default. (b) Immediately after becoming aware that the holder of any capital stock of any Borrower or of any Debt has given notice or taken any action with respect to a claimed default. (c) Immediately after becoming aware of any material adverse change in any Borrower's Property, business, operations, or condition (financial or otherwise). (d) Immediately after becoming aware of any pending or threatened action, suit, proceeding, or counterclaim by any Person, or any pending or threatened investigation by a Public Authority, which may materially and adversely affect the Collateral, the repayment of the Obligations, the Banks rights under the Loan Documents, or any Borrower's Property, business, operations, or condition (financial or otherwise). (e) Immediately after becoming aware of any pending or threatened strike, work stoppage, material unfair labor practice claim, or other material labor dispute affecting any Borrower or any of its Subsidiaries. (f) Immediately after becoming aware of any violation of any law, statute, regulation, or ordinance of a Public Authority applicable to any Borrower, any Subsidiary, or their respective Properties which may materially and adversely affect the Collateral, the repayment of the Obligations, the Bank's rights under the Loan Documents, or such Borrower's Property, business, operations, or condition (financial or otherwise). (g) Immediately after becoming aware of any violation by any Borrower of Environmental Laws or immediately upon receipt of and any notice that a Public Authority has asserted that such Borrower is not in compliance with Environmental Laws or that its compliance is being investigated.

Notices to Bank. Each the Borrower shall notify the Bank in writing of the following matters at the following times:times (each such notice to describe the subject matter thereof in reasonable detail and to set out the action that the Borrower has taken or proposes to take with respect thereto): (ai) Immediately promptly after becoming aware of the existence of any Event of Default or Potential Event of Default.; (bii) Immediately after becoming aware that any shareholder in the holder of any capital stock of any Borrower or any creditor of any Debt an amount in excess of (pound)10,000 in the Borrower has given notice or taken any action with respect to a claimed default.; (ciii) Immediately promptly after becoming aware of any material adverse change in any the Borrower's Propertyassets, business, operations, operations or condition (financial or otherwise).; (div) Immediately promptly after becoming aware of any pending or threatened action, suit, proceeding, proceeding or counterclaim by any Personperson which if adversely determined would have a Material Adverse Effect, or any pending or threatened investigation by a Public Authority, which may materially and adversely affect the Collateral, the repayment of the Obligations, the Banks rights under the Loan Documents, or any Borrower's Property, business, operations, or condition (financial or otherwise).public authority; (ev) Immediately after becoming aware of any pending or threatened strike, work stoppage, material unfair labor labour practice claim, or other material labor labour dispute affecting any member of the Borrower or any of its Subsidiaries.Group; (fvi) Immediately after becoming aware of any violation of any law, statute, regulation, or ordinance of a Public Authority public authority applicable to any Borrower, any Subsidiary, member of the Borrower Group or their respective Properties its assets which may materially and adversely affect the Collateral, the repayment of the Obligations, the Bank's rights under the Loan Documents, or such Borrower's Property, business, operations, or condition (financial or otherwise).have a Material Adverse Effect; (gvii) Immediately promptly after becoming aware of any violation by any the Borrower of Environmental Laws which is likely to result is a material liability in the Borrower Group or immediately upon receipt of and any notice that a Public Authority public authority has asserted that such the Borrower is not in compliance with Environmental Laws or that its compliance is being investigated; (viii) not less than ten days prior to the Borrower changing its name or the address of its registered office.

Notices to Bank. Each Borrower The Grantor shall notify the Bank in writing of --------------- the following matters and deliver any information or notices described therein at the following times: (a) Immediately after becoming aware of the existence of thereof, any Default or Event of Default. (b) Immediately after becoming aware that thereof, assertion by the holder of any capital stock debt of a Grantor in excess of $100,000 that a default exists with respect thereto or that such Grantor is not in compliance with the terms thereof; or the threat or commencement by such holder of any Borrower enforcement action because of such asserted default or of any Debt has given notice or taken any action with respect to a claimed defaultnon-compliance. (c) Immediately after becoming aware of thereof, any material adverse change in any Borrowerthe Grantor's Propertyfinancial condition, property, business, prospects or operations, or condition (financial or otherwise). (d) Immediately after becoming aware of thereof, any pending or threatened action, suit, proceeding, or counterclaim by any Personperson, or any pending or threatened investigation by a Public Authoritypublic authority, which may materially and adversely affect the Collateral, the repayment Grantor's satisfaction of the Obligations, the Banks Bank's rights under the Loan Documents, Lease Agreement or any Borrowerthe Grantor's Property, business, operations, or condition (financial or otherwise)condition. (e) Immediately after becoming aware of any pending or threatened strikeevent, work stoppage, material unfair labor practice claim, or other material labor dispute affecting any Borrower or any of its Subsidiaries. (f) Immediately after becoming aware of including any violation of any law, statute, regulation, or ordinance of a Public Authority any public authority applicable to any Borrowerthe Grantor or its Properties, any Subsidiary, or their respective Properties which may materially and adversely affect the Collateral, the repayment Grantor's satisfaction of the Obligations, the Bank's rights under the Loan Documents, Lease Agreement or such Borrowerthe Grantor's Property, business, operations, or condition (financial or otherwise)condition. (gf) Immediately after becoming aware Any change in the Grantor's name, state, province or country of any violation by any Borrower incorporation or form of Environmental Laws or immediately upon receipt of organization, at least thirty (30) days prior thereto. Each notice given under this Section 2.7 shall describe the subject matter thereof in reasonable detail, and any notice that a Public Authority has asserted shall set forth the action that such Borrower is not in compliance Grantor has taken or proposes to take with Environmental Laws or that its compliance is being investigatedrespect thereto.

Notices to Bank. Each Borrower shall To promptly notify the Bank in writing of the following matters at the following timesof: (a) Immediately after becoming aware Any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect, including (i) breach or non-performance of, or any default under, a Contractual Obligation of Borrower or any Subsidiary; (ii) any dispute, litigation, investigation, proceeding or suspension between Borrower or any Subsidiary and any Governmental Authority; or (iii) the existence of commencement of, or any Default material development in, any litigation or Event of Default.proceeding affecting Borrower or any Subsidiary, including pursuant to any applicable Environmental Laws; (b) Immediately after becoming aware that the holder The occurrence of any capital stock of any Borrower or of any Debt has given notice or taken any action with respect to a claimed defaultERISA Event. (c) Immediately after becoming aware The occurrence of any material adverse change in any Borrower's Property, business, operations, or condition (financial or otherwise)Internal Control Event. (d) Immediately after becoming aware Any event of any pending or threatened action, suit, proceeding, or counterclaim by any Persondefault under this Agreement, or any pending event which, with notice or threatened investigation by a Public Authoritylapse of time or both, which may materially and adversely affect the Collateral, the repayment would constitute an event of the Obligations, the Banks rights under the Loan Documents, or any Borrower's Property, business, operations, or condition (financial or otherwise)default. (e) Immediately after becoming aware Any change in the Borrower’s name, legal structure, place of any pending or threatened strike, work stoppage, material unfair labor practice claimbusiness, or other material labor dispute affecting any chief executive office if the Borrower or any has more than one place of its Subsidiariesbusiness. (f) Immediately Any actual contingent liabilities of the Borrower (or any Guarantor) arising on or after becoming aware December 31, 2005, and any such contingent liabilities which are reasonably foreseeable, where such liabilities are in excess of any violation of any law, statute, regulation, or ordinance the Threshold Amount in the aggregate. Each notice pursuant to this Section shall be accompanied by a statement of a Public Authority applicable to any Borrower, any Subsidiary, or their respective Properties which may materially and adversely affect the Collateral, the repayment Responsible Officer of Borrower setting forth details of the Obligations, the Bank's rights under the Loan Documents, or such Borrower's Property, business, operations, or condition (financial or otherwise). (goccurrence referred to therein and stating what action Borrower has taken and proposes to take with respect thereto. Each notice pursuant to Section 7.9(e) Immediately after becoming aware shall describe with particularity any and all provisions of any violation by any Borrower of Environmental Laws or immediately upon receipt of this Agreement and any notice other Loan Document that a Public Authority has asserted that such Borrower is not in compliance with Environmental Laws or that its compliance is being investigatedhave been breached.