Common use of Proceedings or Adverse Changes Clause in Contracts

Proceedings or Adverse Changes. Each Borrower will as soon as practicable, and in any event within thirty (30) Business Days after any Borrower learns of the following, give written notice to the Agent of any proceeding(s) being instituted or threatened in writing to be instituted by or against CBI or any of its Subsidiaries in any federal, state, local or foreign court or before any commission or other regulatory body (federal, state, local or foreign) that is reasonably likely to expose CBI or any of its Subsidiaries to liability in excess of $2,500,000 (without regard to whether any or all of such amount is covered by insurance). Each Borrower will as soon as possible, and in any event within five (5) Business Days after any Borrower learns of the following, give written notice to the Agent of any Material Adverse Change. Provision of any such notice by any Borrower will not constitute a waiver or excuse of any Default or Event of Default occurring as a result of such changes or events.

Proceedings or Adverse Changes. Each The Borrower will as soon as practicable, and in any event within thirty (30) Business Days after any the Borrower learns of the following, give written notice to the Agent of any proceeding(s) being instituted or threatened in writing to be instituted by or against CBI the Borrower or any of its Subsidiaries in any federal, state, local or foreign court or before any commission or other regulatory body (federal, state, local or foreign) that is reasonably likely to expose CBI Borrower or any of its Subsidiaries to liability in excess of $2,500,000 (without regard to whether any or all of such amount is covered by insurance). Each The Borrower will as soon as possible, and in any event within five (5) Business Days after any the Borrower learns of the following, give written notice to the Agent of any Material Adverse Change. Provision of any such notice by any the Borrower will not constitute a waiver or excuse of any Default or Event of Default occurring as a result of such changes or events.