Common use of Proceedings or Changes Clause in Contracts

Proceedings or Changes. Promptly, and in any event within five (5) Business Days after the Company becomes aware of (i) any proceeding being instituted or threatened to be instituted by or against Company in any federal, state, local or foreign court or before any commission or other regulatory body (federal, state, local or foreign) involving a sum, together with the sum involved in all other similar proceedings, in excess of $100,000 in the aggregate, (ii) any order, judgment or decree involving a sum, together with the sum of all other orders, judgments or decrees, in excess of $100,000 in the aggregate being entered against the Company or any of its property or assets, (iii) any material notice or correspondence issued to the Company thereof by a Governmental Person warning, threatening or advising of the commencement of any investigation involving the Company or its property or assets, (iv) any actual or prospective change, development or event which has had or could reasonably be expected to have a material adverse effect, (v) the cessation of the business relationship with any customer of a Company whose purchases have accounted for more than 10% of the sales of the Company in any year, (vi) a change in the location of any Collateral from the locations specified herein except for changes as otherwise permitted herein or (vii) a proposed or actual change of the name, identity, corporate structure or jurisdiction of organization or formation of the Company.