Common use of Suits or Other Proceedings Clause in Contracts

Suits or Other Proceedings. Upon any Executive Officer of the Borrower obtaining knowledge of any litigation or other proceedings being instituted against the Borrower or any Subsidiary, or any attachment, levy, execution or other process being instituted against any assets of the Borrower or any Subsidiary that could reasonably be expected to result in a Material Adverse Effect, promptly deliver to the Administrative Agent written notice thereof stating the nature and status of such litigation, dispute, proceeding, levy, execution or other process.

Appears in 5 contracts

Samples: Credit Agreement (Autonation, Inc.), Credit Agreement (Autonation, Inc.), Credit Agreement (Autonation, Inc.)

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Suits or Other Proceedings. Upon any Executive Officer officer of the Borrower or any Subsidiary obtaining knowledge of any litigation or other proceedings being instituted against the Borrower or any Subsidiary, or any attachment, levy, execution or other process being instituted against any assets of the Borrower or any Subsidiary that could reasonably be expected to result Subsidiary, making a claim or claims in a Material Adverse Effectan aggregate amount greater than $1,000,000 or not otherwise covered by insurance, promptly deliver to the Administrative Agent Lender written notice thereof stating the nature and status of such litigation, dispute, proceeding, levy, execution or other process.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Crown Crafts Inc), Revolving Credit Agreement (Crown Crafts Inc), Revolving Credit Agreement (Crown Crafts Inc)

Suits or Other Proceedings. Upon any Executive Senior Officer of the Borrower obtaining knowledge of any litigation or other proceedings being instituted against the Borrower or any SubsidiarySubsidiary that could reasonably be expected to result in a Material Adverse Effect, or any attachment, levy, execution or other process being instituted against any assets of the Borrower or any Subsidiary that could reasonably be expected to result in a Material Adverse Effect, promptly deliver to the Administrative Agent written notice thereof stating the nature and status of such litigation, dispute, proceeding, levy, execution or other process.

Appears in 3 contracts

Samples: Credit Agreement (Autonation, Inc.), Credit Agreement (Autonation, Inc.), Letter Agreement (Autonation, Inc.)

Suits or Other Proceedings. Upon any Executive Officer of the Borrower obtaining knowledge of any litigation or other proceedings being instituted against the Borrower or any SubsidiarySubsidiary that could reasonably be expected to result in a Material Adverse Effect, or any attachment, levy, execution or other process being instituted against any assets of the Borrower or any Subsidiary that could reasonably be expected to result in a Material Adverse Effect, promptly deliver to the Administrative Agent written notice thereof stating the nature and status of such litigation, dispute, proceeding, levy, execution or other process.

Appears in 2 contracts

Samples: Credit Agreement (Autonation, Inc.), Credit Agreement (Autonation, Inc.)

Suits or Other Proceedings. Upon any Executive Officer officer of the Borrower obtaining knowledge of any litigation or other proceedings being instituted against the Borrower or any Subsidiary, Subsidiary or any attachment, levy, execution or other process being instituted against any assets of the Borrower or any Subsidiary that could reasonably be expected making a claim or claims which is likely to result in a Material Adverse Effectdamages in an aggregate amount greater than $1,000,000 not otherwise covered by insurance, promptly deliver to the Administrative Agent written notice thereof stating the nature and status of such litigation, dispute, proceeding, levy, execution or other process.;

Appears in 1 contract

Samples: Credit Agreement (Wackenhut Corrections Corp)

Suits or Other Proceedings. Upon any Executive Officer of the Borrower obtaining knowledge of any litigation or other proceedings being instituted against the Borrower or any Subsidiary, or any attachment, levy, execution or other process being instituted against any assets of the Borrower Parent or any Subsidiary that could reasonably be expected to result Subsidiary, making a claim or claims in a Material Adverse Effectan aggregate amount greater than $10,000,000 not otherwise covered by insurance, promptly deliver to the Administrative Agent written notice thereof stating the nature and status of such litigation, dispute, proceeding, levy, execution or other process.

Appears in 1 contract

Samples: Credit Agreement (Sensormatic Electronics Corp)

Suits or Other Proceedings. Upon any Executive Officer officer of the Borrower obtaining knowledge of any litigation or other proceedings being instituted against the Borrower or any SubsidiarySubsidiary or other Credit Party, or any attachment, levy, execution or other process being instituted against any assets of the Borrower or any Subsidiary that could reasonably be expected to result or other Credit Party, making a claim or claims in a Material Adverse Effectan aggregate amount greater than $100,000 not otherwise covered by insurance, promptly deliver to the Administrative Agent written notice thereof stating the nature and status of such litigation, dispute, proceeding, levy, execution or other process.;

Appears in 1 contract

Samples: Credit Agreement (Saratoga Beverage Group Inc)

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Suits or Other Proceedings. Upon any Executive Officer officer of the Borrower obtaining knowledge of any litigation or other proceedings being instituted against the Borrower or any SubsidiarySubsidiary or other Loan Party, or any attachment, levy, execution or other process being instituted against any assets of the Borrower or any Subsidiary that could reasonably be expected to result or other Loan Party, making a claim or claims in a Material Adverse Effectan aggregate amount greater than $2,000,000 not otherwise covered by insurance, promptly deliver to the Administrative Agent written notice thereof stating the nature and status of such litigation, dispute, proceeding, levy, execution or other process.;

Appears in 1 contract

Samples: Credit Agreement (Unicapital Corp)

Suits or Other Proceedings. Upon any Executive Officer officer of the Borrower obtaining knowledge of any litigation or other proceedings being instituted against the Borrower or any SubsidiarySubsidiary or other Credit Party, or any attachment, levy, execution or other process being instituted against any assets of the Borrower or any Subsidiary that could reasonably be expected to result or other Credit Party, making a claim or claims in a Material Adverse Effectan aggregate amount greater than $1,000,000 not otherwise covered by insurance, promptly deliver to the Administrative Agent written notice thereof stating the nature and status of such litigation, dispute, proceeding, levy, execution or other process.

Appears in 1 contract

Samples: Credit Agreement (Insteel Industries Inc)

Suits or Other Proceedings. Upon any Executive Officer officer of the Borrower obtaining knowledge of any litigation material litigation, dispute or other proceedings being instituted or threatened against the Borrower or any SubsidiaryBorrower, or any attachment, levy, execution or other process being instituted against any assets of the Borrower Borrower, in any case embodying or any Subsidiary that could reasonably relating to a claim in excess of $10,000, cause to be expected to result in a Material Adverse Effect, delivered promptly deliver to the Administrative Agent written notice thereof stating the nature and status of Lender an Officers’ Certificate describing such litigation, dispute, proceeding, levy, execution or other process.

Appears in 1 contract

Samples: Loan Agreement (Unation, LLC)

Suits or Other Proceedings. Upon any Executive Officer officer of the Borrower obtaining knowledge of any litigation or other proceedings being instituted against the Borrower or any Subsidiary, Subsidiary or any attachment, levy, execution or other process being instituted against any assets of the Borrower or any Subsidiary that could reasonably be expected making a claim or claims which is likely to result in a Material Adverse Effectdamages in an aggregate amount greater than $[1,000,000] not otherwise covered by insurance, promptly deliver to the Administrative Agent written notice thereof stating the nature and status of such litigation, dispute, proceeding, levy, execution or other process.;

Appears in 1 contract

Samples: Credit Agreement (Wackenhut Corrections Corp)

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