Common use of Notification of Claims Against Collateral Clause in Contracts

Notification of Claims Against Collateral. Borrower will, promptly upon obtaining Knowledge thereof, notify Agent in writing of any claims pertaining to the Collateral which, either singly or in the aggregate, could reasonably be expected to exceed $1,000,000, as well as any setoff, withholdings or other defenses to which any of the Collateral, or the rights of Agent or Lenders with respect to the Collateral, are subject, in each case, other than related to Permitted Liens.

Notification of Claims Against Collateral. Borrower will, promptly upon obtaining Knowledge thereof, notify Agent in writing of any claims pertaining to the Collateral which, either singly or in the aggregate, could reasonably be expected to exceed $1,000,000, as well as any setoff, withholdings or other defenses to which any of the Collateral, or the rights of Agent or Lenders with respect to the Collateral, are subject, in each case, other than related to Permitted LiensLiens (except for the Xxxxxxx Judgment and the Nerd Enterprise Mortgage).

Notification of Claims Against Collateral. Borrower Borrowers will, promptly upon obtaining Knowledge becoming aware thereof, notify Agent Lender in writing of any setoff, claims pertaining (including, with respect to the Collateral whichProperty, either singly or in the aggregate, could reasonably be expected to exceed $1,000,000, as well as any setoffenvironmental claims), withholdings or other defenses to which any of the Collateral, or the rights of Agent or Lenders Lender with respect to the Collateral, are subject, subject in each case, excess of $250,000 (other than related to Permitted Liens).