Notification of Default, Etc. Notify the Bank as promptly as practicable (but in any event not later than 5 Business Days) after the Borrower obtains knowledge of: (i) the occurrence of any event which constitutes an Event of Default or which would constitute an Event of Default with the passage of time or the giving of notice or both; or (ii) the commencement of any litigation or governmental proceedings of any type which could materially adversely affect the financial condition or business operations of the Borrower.
Appears in 3 contracts
Samples: Loan Agreement (Choicetel Communications Inc /Mn/), Discretionary Revolving Credit Agreement (Sunrise Resources Inc\mn), Discretionary Revolving Credit Agreement (Sunrise International Leasing Corp)
Notification of Default, Etc. Notify the Bank as promptly as practicable (but in any event not later than 5 three (3) Business Days) after the Borrower obtains knowledge of: (i) the occurrence of any event which constitutes an Event of Default or which would constitute an Event of Default with the passage of time or the giving of notice or both; or (ii) the commencement of any litigation or governmental proceedings of any type which could materially adversely affect the financial condition or business operations of the Borrower.
Appears in 2 contracts
Samples: Credit Agreement (Aero Systems Engineering Inc), Credit Agreement (Aero Systems Engineering Inc)
Notification of Default, Etc. Notify the Bank Lender as promptly as practicable (but in any event not later than 5 Business Days) after the Borrower obtains knowledge of: (i) the occurrence of any event which constitutes an Event of Default or which would constitute an Event of Default with the passage of time or the giving of notice or both; or (ii) the commencement of any litigation or governmental proceedings of any type which could materially adversely affect the financial condition or business operations of the Borrower.
Appears in 1 contract
Notification of Default, Etc. Notify the Bank as promptly as practicable (but in any event not later than 5 Business Days) after the Borrower or Medacquisition obtains knowledge of: (i) the occurrence of any event which constitutes an Event of Default or which would constitute an Event of Default with the passage of time or the giving of notice or both; or (ii) the commencement of any litigation or governmental proceedings of any type which that could materially adversely affect the financial condition or business operations of the BorrowerBorrower or Medacquisition.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Medamicus Inc)
Notification of Default, Etc. Notify the Bank as promptly as practicable (but in any event not later than 5 Business Days) after the Borrower obtains knowledge of: (i) the occurrence of any event which that constitutes an Event of Default or which that would constitute an Event of Default with the passage of time or the giving of notice or both; or (ii) the commencement of any litigation or governmental proceedings of any type which that could materially adversely affect the financial condition or business operations of the Borrower.
Appears in 1 contract
Samples: Term Loan Agreement (Corvu Corp)
Notification of Default, Etc. Notify the Bank as promptly as practicable (but in any event not later than 5 Business Days) after the Borrower obtains knowledge of: (i) the occurrence of any event which constitutes an Event of Default or which would constitute an Event of Default with the passage of time or the giving of notice or both; or (ii) the commencement of any litigation or governmental proceedings of any type which that could materially adversely affect the financial condition or business operations of the Borrower.
Appears in 1 contract
Samples: Revolving Credit Agreement (Lifecore Biomedical Inc)
