Common use of Proceedings Related to the Collateral Clause in Contracts

Proceedings Related to the Collateral. The Servicer shall notify the Administrative Agent and each Lender as soon as possible and in any event within two (2) Business Days after any Responsible Officer of the Servicer receives notice or has actual knowledge of any settlement of, judgment (including a judgment with respect to the liability phase of a bifurcated trial) in or commencement of any labor controversy, litigation, action, suit or proceeding before any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, that the Servicer reasonably believes would have a Material Adverse Effect on the interests of the Collateral Agent or the Secured Parties in, to and under the Collateral. For purposes of this Section 5.03(m), any settlement, judgment, labor controversy, litigation, action, suit or proceeding affecting the Collateral or the Collateral Agent's or the Secured Parties' interest in the Collateral in excess of $10,000,000 or more shall be deemed to be expected to have such a Material Adverse Effect. In addition, this Section 5.03(m) shall not be construed to require delivery by the Servicer or any Affiliate thereof of any proceeding, litigation, suit or action involving an Obligor to the extent that such delivery of notice is required pursuant to Section 5.01(p).

Proceedings Related to the Collateral. The Servicer shall notify the Administrative Agent and each Lender as soon as possible and in any event within two (2) Business Days after any Responsible Officer of the Servicer receives notice or has actual knowledge of any settlement of, judgment (including a judgment with respect to the liability phase of a bifurcated trial) in or commencement of any labor controversy, litigation, action, suit or proceeding before any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, that the Servicer reasonably believes would have a Material Adverse Effect on the interests of the Collateral Agent or the Secured Parties in, to and under the Collateral. For purposes of this Section 5.03(m), any settlement, judgment, labor controversy, litigation, action, suit or proceeding affecting the Collateral or the Collateral Agent's or the Secured Parties' interest in the Collateral in excess of $10,000,000 or more shall be deemed to be expected to have such a Material Adverse Effect. In addition, this Section 5.03(m) shall not be construed to require delivery by the Servicer or any Affiliate thereof of any proceeding, litigation, suit or action involving an Obligor to the extent that such delivery of notice is required pursuant to Section 5.01(p).. 121

Proceedings Related to the Collateral. The Servicer shall notify the Administrative Agent, the Collateral Agent and each Lender as soon as possible and in any event within two (2) Business Days after any Responsible Officer of the Servicer receives notice or has actual knowledge of any settlement of, judgment (including a judgment with respect to the liability phase of a bifurcated trial) in or commencement of any labor controversy, litigation, action, suit or proceeding before any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, that the Servicer would reasonably believes would be expected to have a Material Adverse Effect on the interests of the Collateral Agent or the Secured Parties in, to and under the Collateral. For purposes of this Section 5.03(m5.03(i), any settlement, judgment, labor controversy, litigation, action, suit or proceeding affecting the Collateral or the Collateral Agent's ’s or the Secured Parties' ’ interest in the Collateral in excess of $10,000,000 or more shall be deemed to be expected to have such a Material Adverse Effect. In addition, this Section 5.03(m) shall not be construed to require delivery by the Servicer or any Affiliate thereof of any proceeding, litigation, suit or action involving an Obligor to the extent that such delivery of notice is required pursuant to Section 5.01(p).

Proceedings Related to the Collateral. The Servicer shall notify the Administrative Agent and each Lender as soon as possible and in any event within two (2) Business Days after any Responsible Officer of the Servicer receives notice or has actual knowledge of any settlement of, judgment (including a judgment with respect to the liability phase of a bifurcated trial) in or commencement of any labor controversy, litigation, action, suit or proceeding before any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, that the Servicer reasonably believes would have a Material Adverse Effect on the interests of the Collateral Agent or the Secured Parties in, to and under the Collateral. For purposes of this Section 5.03(m), any settlement, judgment, labor controversy, litigation, action, suit or proceeding affecting the Collateral or the Collateral Agent's ’s or the Secured Parties' ’ interest in the Collateral in excess of $10,000,000 or more shall be deemed to be expected to have such a Material Adverse Effect. In addition, this Section 5.03(m) shall not be construed to require delivery by the Servicer or any Affiliate thereof of any proceeding, litigation, suit or action involving an Obligor to the extent that such delivery of notice is required pursuant to Section 5.01(p).. 125