Common use of Notification of defaults (etc) Clause in Contracts

Notification of defaults (etc). The Borrower shall promptly notify the Agent, upon becoming aware of the same, of: (i) the occurrence of an Event of Default or of any Potential Event of Default or any other event (including any litigation) which, if adversely determined, is reasonably likely to materially adversely affect any Security Party’s ability to perform its obligations under a Charter and each Finance Document and Master Agreement to which it is or is to become a party; (ii) any default by any party to a Charter; and (iii) any damage or injury caused by or to a Ship in excess of $5,000,000.

Notification of defaults (etc). The Borrower shall promptly notify the Agent, upon becoming aware of the same, of: (i) the occurrence of an Event of Default or of any Potential Event of Default or any other event (including any litigation) which, if adversely determined, which is reasonably likely to materially adversely affect any Security Party’s ability to perform its obligations under a each Charter and each Finance Document and Master Agreement to which it is or is to become a party; (ii) any default by defaultby any party to a Charter; and (iii) any damage or injury caused by or to a the Ship in excess of $5,000,000.

Notification of defaults (etc). The Borrower shall promptly notify the Agent, upon becoming aware of the same, of: (i) the occurrence of an Event of Default or of any Potential Event of Default or any other event (including any litigation) which, if adversely determined, which is reasonably likely to materially adversely affect any Security Party’s ability to perform its obligations under a each Charter and each Finance Document and Master Agreement to which it is or is to become a party; (ii) any default by any party to a Charter; and (iii) any damage or injury caused by or to a Ship in excess of $5,000,000.

Notification of defaults (etc). The Borrower shall promptly notify the Agent, upon becoming aware of the same, of: (i) the occurrence of an Event of Default or of any Potential Event of Default or any other event (including any litigation) which, if adversely determined, which is reasonably likely to materially adversely affect any Security Party’s ability to perform its obligations under a each Charter and each Finance Document and Master Agreement to which it is or is to become a party; (ii) any default by any party to a Charter; and (iii) any damage or injury caused by or to a Ship in excess of $5,000,000.

Notification of defaults (etc). The Borrower shall promptly notify the Agent, upon becoming aware of the same, of: (i) the occurrence of an Event of Default or of any Potential Event of Default or any other event (including any litigation) which, if adversely determined, which is reasonably likely to materially adversely affect any Security Party’s 's ability to perform its obligations under a each Charter and each Finance Document and Master Agreement to which it is or is to become a party; (ii) any default by any party to a Charter; and (iii) any damage or injury caused by or to a Ship in excess of $5,000,000.