Common use of Proceedings or Adverse Changes Clause in Contracts

Proceedings or Adverse Changes. Promptly, and in any event within five (5) Business Days after a Credit Party becomes aware of (A) any proceeding being instituted or threatened to be instituted by or against a Credit Party or any of its Restricted Subsidiaries in any federal, state, local or foreign court or before any commission or other regulatory body (federal, state, local or foreign) involving a sum in excess of $1,000,000, (B) any order, judgment or decree in excess of $1,000,000 being entered against a Credit Party or any of its Restricted Subsidiaries or any of their respective properties or assets or (C) any actual or prospective change, development or event which has had or could have a Material Adverse Effect, a written statement describing such proceeding, order, judgment, decree, change, development or event and any action being taken with respect thereto by a Credit Party or any such Subsidiary.

Proceedings or Adverse Changes. Promptly, and in any event within five (5) Business Days after a any Credit Party becomes aware of (Ai) any proceeding proceedings being instituted or threatened to be instituted by or against a such Credit Party or any of its Restricted Subsidiaries in any federal, state, local or foreign court or before any commission or other regulatory body (federal, state, local or foreign) involving ), which singly or in the aggregate could reasonably be expected to have a sum in excess of $1,000,000Material Adverse Effect, (Bii) any order, judgment or decree in excess of $1,000,000 being entered against a such Credit Party or any of its Restricted Subsidiaries or any of their respective properties or assets or (Ciii) any actual or prospective change, development or event which has had or could reasonably be expected to have a Material Adverse Effect, a written statement describing such proceeding, order, judgment, decree, change, development or event and any action being taken with respect thereto by a such Credit Party or any such Subsidiary.