Parties to Give Notice. In case of any material damage to or destruction of all or any part of the Collateral, the Borrower shall give prompt notice thereof to the Bank. In case of a taking or proposed taking of all or any part of the Collateral or any right therein by Eminent Domain, the Borrower shall give prompt notice thereof to the Bank. Each such notice shall describe generally the nature and extent of such damage, destruction, taking, loss, proceeding or negotiations.
Appears in 2 contracts
Samples: Letter of Credit and Reimbursement Agreement (Performance Food Group Co), Letter of Credit and Reimbursement Agreement (Medical Action Industries Inc)
Parties to Give Notice. In case of any material damage to or destruction of all or any part of the Collateral, the Borrower shall give prompt notice thereof to the Bank. In case of a taking or proposed taking of all or any part of the Collateral or any right therein by Eminent Domain, the Borrower shall give prompt notice thereof to the BankBank and the Issuer. Each such notice shall describe generally the nature and extent of such damage, destruction, taking, loss, proceeding or negotiations.
Appears in 1 contract
Samples: Credit and Reimbursement Agreement (Lunn Industries Inc /De/)
Parties to Give Notice. In case of any material damage to or destruction of all or any part of the CollateralMortgaged Property, the Borrower shall give prompt notice thereof to the BankIssuer and the Trustee. In case of a taking or proposed taking of all or any part of the Collateral Mortgaged Property or any right therein by Eminent Domain, the Borrower shall give prompt notice thereof to the BankIssuer and the Trustee. Each such notice shall describe generally the nature and extent of such damage, destruction, taking, loss, proceeding or negotiations.
Appears in 1 contract
Samples: Loan Agreement (Elxsi Corp /De//)
