Common use of Proceedings or Adverse Changes Clause in Contracts

Proceedings or Adverse Changes. The Credit Parties will as soon as possible, and in any event within five (5) Business Days after any Credit Party learns of the following, give written notice to the Agent of any proceeding(s) being instituted or threatened to be instituted by or against any Credit Party 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, if adversely determined, could reasonably be expected to have a Material Adverse Effect. Provision of such notice by the Credit Parties 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. The Each of the Borrower and the other Credit Parties will as soon as possible, and in any event within five (5) Business Days after any Credit Party it learns of the following, give written notice to the Agent of (i) any material proceeding(s) being instituted or threatened to be instituted by or against any such Credit Party 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), and (ii) that, if adversely determined, could reasonably be expected to have a any Material Adverse EffectChange. Provision of such notice by the a Credit Parties Party 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. The Credit Parties will as soon as possible, and in any event within five (5) Business Days after any Credit Party learns of the following, give written notice to the Administrative Agent of (i) any material proceeding(s) in which the Credit Parties are alleged to have liability in excess of Five Hundred Thousand Dollars ($500,000) being instituted or threatened to be instituted by or against any Credit Party 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), and (ii) that, if adversely determined, could reasonably be expected to have a any Material Adverse EffectChange. Provision of such notice by the Credit Parties will not constitute a waiver or excuse of any Default or Event of Default occurring as a result of such changes or events.