Other Defaults, Litigation and Judgments. Seller shall promptly (and in any event not later than two (2) Business Days after obtaining Knowledge thereof) notify Purchaser of (A) any default or event of default (or similar event) on the part of any Seller Party under any Indebtedness or other material contractual obligation to the extent the obligations in connection with such default under the applicable agreement (1) are at least equal to the applicable Default Threshold, or (2) which, individually or in the aggregate, if adversely determined, would reasonably be likely to have a Material Adverse Effect and (B) the commencement or threat in writing of, settlement of, or judgment in, any litigation, action, suit, arbitration, investigation or other legal or arbitrable proceeding involving any Seller Party that (1) makes a claim or claims in the aggregate amount greater than the applicable Litigation Threshold, or (2) which, individually or in the aggregate, if adversely determined, would reasonably be likely to have a Material Adverse Effect.
Other Defaults, Litigation and Judgments. (A) Seller shall promptly, and in any event not later than two (2) Business Days, after obtaining Knowledge thereof, notify Buyer of (x) any event of default (beyond applicable notice and grace periods) on the part of Seller under any Indebtedness or other material contractual obligations of Seller; and (y) the commencement or written threat of, or judgment in, any action, suit, proceeding, investigation or arbitration before any Governmental Authority involving Seller or any of its respective assets.
(B) Seller shall promptly, and in any event not later than two (2) Business Days after obtaining Knowledge thereof, notify Buyer of (1) to the extent such default or event of default could reasonably be expected to constitute an Event of Default hereunder, any default or event of default (or similar event) on the part of Guarantor under any Indebtedness or other contractual obligations of Guarantor; and (2) the commencement or written threat of, or judgment in, any action, suit, proceeding, investigation or arbitration before any Governmental Authority involving Guarantor or any of its assets, which, in each case, is likely (in Seller’s reasonable judgment) to be adversely determined and, if so, could reasonably be expected to have a Material Adverse Effect as reasonably determined by Seller.
Other Defaults, Litigation and Judgments. Seller shall promptly (and in any event not later than two (2) Business Days after obtaining Knowledge thereof) notify Purchaser of (A) any default or event of default (or similar event) on the part of any Seller Party under any Indebtedness or other material contractual obligation (other than, in each case, in connection with the Subordinate Loan or the Subordinated Facility Documents) to the extent the obligations in connection with such default under the applicable agreement
(1) are at least equal to the applicable Default Threshold, or (2) which, individually or in the aggregate, if adversely determined, would reasonably be likely to have a Material Adverse Effect and (B) the commencement or threat in writing of, settlement of, or judgment in, any litigation, action, suit, arbitration, investigation or other legal or arbitrable proceeding involving any Seller Party that (1) makes a claim or claims in the aggregate amount greater than the applicable Litigation Threshold, or (2) which, individually or in the aggregate, if adversely determined, would reasonably be likely to have a Material Adverse Effect.
Other Defaults, Litigation and Judgments. Seller shall promptly (and in any event not later than two (2) Business Days after actual knowledge thereof) notify Purchaser of (A) any default or event of default (or similar event that permits the acceleration of the maturity of the obligations thereunder) on the part of any Seller Party under (x) any Indebtedness or (y) to the extent the obligations in connection with such default or event of default individually or in the aggregate with other defaults are at least equal to or exceed the applicable Default Threshold; or (B) the commencement or threat in writing of, settlement of, or judgment in, any litigation, action, suit, arbitration, investigation or other legal or arbitrable proceeding involving any Seller Party.
Other Defaults, Litigation and Judgments. Seller shall promptly (and in any event not later than two (2) Business Days after obtaining actual knowledge thereof) deliver to Purchaser any notice (A) of the occurrence of any default or event of default under any Purchased Asset; or (B) of the commencement or threat in writing of, settlement of, or judgment in, any litigation, action, suit, arbitration, investigation or other legal or arbitrable proceeding involving any Seller Party that (1) makes a claim or claims in aggregate amount greater than the applicable Litigation Threshold or (2) which, individually or in the aggregate, if adversely determined, would reasonably be likely to have a Material Adverse Effect.
Other Defaults, Litigation and Judgments. Borrower shall within five (5) Business Days after obtaining Knowledge thereof, notify Class A Lender of (A) any event of default (beyond applicable notice and grace periods) on the part of Borrower and/or Guarantor under any Indebtedness or other material contractual obligations; and
Other Defaults, Litigation and Judgments. Seller shall promptly (and in any event not later than two (2) Business Days after knowledge thereof) notify Purchaser of (A) any event of default (or similar event) on the part of Seller or Guarantor under any Indebtedness or other material contractual obligation in excess of the Default Threshold; or (B) the commencement or threat of, settlement of, or judgment in, any litigation, action, suit, arbitration, investigation or other legal or arbitrable proceeding involving Seller or Guarantor wherein the amount in controversy exceeds the Litigation Threshold.
Other Defaults, Litigation and Judgments. The applicable Seller shall promptly, and in any event not later than two (2) Business Days after obtaining Knowledge thereof, notify Purchaser of (A) any default or event of default on the part of such Seller or Guarantor under any Indebtedness or other material contractual obligations, in excess of $100,000 with respect to Seller or $25,000,000 with respect to Guarantor; and (B) of the commencement or threat in writing of, or judgment in, any action, suit, proceeding, investigation or arbitration involving such Seller or Guarantor which relates to any Purchased Asset, questions or challenges the validity or enforceability of any Transaction or Transaction Document or individually, or in the aggregate, if adversely determined would reasonably be expected to have a Material Adverse Effect.
Other Defaults, Litigation and Judgments. Each Seller shall promptly (and in any event not later than two (2) Business Days after Knowledge thereof), notify Purchaser of (A) any event of default (or similar event) on the part of any Seller Party under any Indebtedness or other contractual obligations to the extent the same is reasonably likely to have a Material Adverse Effect; or (B) the commencement of, settlement of or judgment in any litigation, action, suit, arbitration, investigation or other legal or arbitrable proceeding involving any Seller Party which, if adversely determined, is reasonably likely to have a Material Adverse Effect.
Other Defaults, Litigation and Judgments. Borrower shall promptly, and in any event not later than five (5) Business Days, after obtaining Knowledge thereof, notify Class A Lender of (x) any event of default (beyond applicable notice and grace periods) on the part of Borrower under any Indebtedness or other material contractual obligations exceeding the Borrower Threshold, and/or on the part of Guarantor under any Indebtedness or other material contractual obligations where such default by Guarantor results in a breach of the net worth and liquidity covenants pursuant to the Guaranty; and (y) the commencement or written threat of, or judgment in, any action, suit, proceeding, investigation or arbitration before any Governmental Authority involving Borrower and/or Guarantor or any of its respective assets and involving an amount exceeding the Borrower Threshold with respect to Borrower or, with respect to Guarantor, an amount which, if adversely determined, would result in a breach of the net worth and liquidity covenants pursuant to the Guaranty.
