Common use of Notification of Claim against Collateral Clause in Contracts

Notification of Claim against Collateral. The Company will, immediately upon becoming aware thereof, notify the Agent and each of the Banks in writing of any material setoff, claims, withholdings or other defenses to which any of the Collateral, or the Agent's rights with respect to the Collateral, are subject, other than reconciliations with customers and vendors in the ordinary course of business consistent with past practices.

Notification of Claim against Collateral. The Company will, immediately upon becoming aware thereof, notify the Agent and each of the Banks in writing of any material setoff, claims, withholdings or other defenses to which any of the Collateral, or the Agent's rights with respect to the Collateral, are subject, except for any thereof permitted by the Security Documents or any Permitted Liens, and other than reconciliations with customers and vendors in the ordinary course of business consistent with past practicesbusiness.

Notification of Claim against Collateral. The Company will, and will cause each of its Subsidiaries to, immediately upon becoming aware thereof, notify the Agent and each of the Banks in writing of any material setoff, claims (including, with respect to the Real Estate, environmental claims), withholdings or other defenses to which any of the Collateral, or the Agent's rights with respect to the Collateral, are subject, other than reconciliations with customers and vendors in the ordinary course of business consistent with past practices.