Immediate Notice to Lender Sample Clauses
The Immediate Notice to Lender clause requires a borrower to promptly inform the lender of certain significant events or changes that could affect the loan agreement. Typically, this includes events such as defaults, legal actions, or material changes in the borrower's financial condition. By mandating swift communication, the clause ensures the lender is kept aware of risks or issues as they arise, allowing for timely responses and risk management.
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Immediate Notice to Lender. (a) The Borrower shall provide the Lender with written notice promptly upon the occurrence of any of the following events, which written notice shall be with reasonable particularity as to the facts and circumstances in respect of which such notice is being given:
(i) Any change in the Borrower's President, chief executive officer, chief operating officer, and chief financial officer (without regard to the title(s) actually given to the Persons discharging the duties customarily discharged by officers with those titles).
(ii) Except as permitted in the Bankruptcy Case pursuant to the Bankruptcy Code, any ceasing of the Borrower's making of payment, in the ordinary course, to any of its creditors (other than its ceasing of making of such payments on account of a de minimis dispute).
(iii) Except as permitted in the Bankruptcy Case pursuant to the Bankruptcy Code, any failure by the Borrower to pay rent at any of the Borrower's locations.
(iv) Except as permitted in the Bankruptcy Case pursuant to the Bankruptcy Code, any material adverse change in the business, operations, or financial affairs of the Borrower.
(v) The Borrower's becoming In Default.
(vi) Any intention on the part of the Borrower to discharge the Borrower's present independent accountants or any withdrawal or resignation by such independent accountants from their acting in such capacity (as to which, see Subsection 4.30(d)).
(vii) Any litigation which, if determined adversely to the Borrower, would reasonably be expected to have a material adverse effect on the financial condition of the Borrower.
Immediate Notice to Lender. The Lead Borrower shall provide the Administrative Agent with written notice immediately upon the occurrence of any of the following events, which written notice shall be with reasonable particularity as to the facts and circumstances in respect of which such notice is being given:
(a) Any change in any Borrower's executive officers, officers, directors, or key employees.
(b) Any material change to the terms of any material contract to which any Borrower is a party.
(c) Any Material Adverse Change in the business, operations, or financial affairs of any Borrower.
(d) The occurrence of any Event of Default.
(e) Any litigation which, if determined adversely to any Borrower, might result in a Material Adverse Change on the financial condition of any Borrower.
(f) The distribution of any materials to the shareholders of any Borrower (qua such shareholders), which notice shall be accompanied by a copy of such filings.
(g) The filing of any materials by any Borrower with the Securities and Exchange Commission (including all Form 10Q's and 10K's), which notice shall be accompanied by a copy of such materials.
Immediate Notice to Lender. (a) The Borrower shall provide the Lender with written notice immediately upon the occurrence of any of the following events, which written notice shall be with reasonable particularity as to the facts and circumstances in respect of which such notice is being given:
(i) Any change in the Borrower's Executive Officers, officers, directors, or key employees.
(ii) The completion of any physical count of the Borrower's Inventory (together with a copy of the certified results thereof).
(iii) Any ceasing of the Borrower's making of payment, in the ordinary course, to any of its creditors (including the ceasing of the making of such payments on account of a dispute with the subject creditor).
(iv) Any failure by the Borrower to pay rent at any of the Borrower's locations, which failure continues for more than three (3) days following the day on which such rent first came due.
(v) Any material change in the business, operations, or financial affairs of the Borrower.
(vi) The occurrence of any Suspension Event.
(vii) Any intention on the part of the Borrower to discharge the Borrower's present independent accountants or any withdrawal or resignation by such independent accountants from their acting in such capacity (as to which, see Subsection 9-1(d)).
(viii) Any litigation which, if determined adversely to the Borrower, might have a material adverse effect on the financial condition of the Borrower.
(b) The Borrower shall:
(i) Provide the Lender, when so distributed, with copies of any materials distributed to the shareholders of the Borrower (qua such shareholders).
(ii) Add the Lender as an addressee on all mailing lists maintained by or for the Borrower.
(iii) At the request of the Lender, from time to time, provide the Lender with copies of all advertising (including copies of all print advertising and duplicate tapes of all such video and radio advertising).
(iv) Provide the Lender, when received by the Borrower, with a copy of any management letter or similar communications from any accountant of the Borrower.
Immediate Notice to Lender. (a) The Borrower shall provide the Lender with written notice immediately upon the occurrence of any of the following events, which written notice shall be with reasonable particularity as to the facts and circumstances in respect of which such notice is being given:
Immediate Notice to Lender. The Lead Borrower shall provide the Lender with written notice immediately upon the occurrence of any of the following events, which written notice shall be with reasonable particularity as to the facts and circumstances in respect of which such notice is being given:
(a) Any change in any executive officers, directors, or key employees of the Lead Borrower.
(b) The completion of any physical count of any Borrower's Inventory (together with a copy of the certified results thereof).
(c) Any material change to the terms of any material contract to which any Borrower is a party.
(d) Any material change in the business, operations, or financial affairs of any Borrower.
(e) The occurrence of any Event of Default.
(f) Any litigation which, if determined adversely to any Borrower, would have a material adverse effect on the financial condition of any Borrower.
(g) The distribution of any materials to the shareholders of any Borrower (qua such shareholders), which notice shall be accompanied by a copy of such filings.
(h) The filing of any materials by any Borrower with the Securities and Exchange Commission (including all Form 10Q's and 10K's), which notice shall be accompanied by a copy of such materials.
Immediate Notice to Lender. The Borrower shall provide Lender with written notice promptly upon the occurrence of any of the following events, which written notice shall state with reasonable particularity the facts and circumstances of the event for which such notice is being given:
(a) Any change in the Authorized Persons;
(b) Any cessation by Great American or Borrower making payment to its creditors generally as the same become due;
(c) Any failure by Great American or Borrower to pay rent at any location, which failure continues for more than 3 Business Days following the last day on which such rent was payable without more than a minimal adverse effect on Borrower;
(d) Any Material Adverse Effect;
(e) The occurrence of any Default or Event of Default;
(f) Any intention on the part of Borrower or Great American to discharge the Borrower’s or Great American’s present independent accountants or any withdrawal or resignation by such independent accountants from their acting in such capacity;
(g) Any litigation which, if determined adversely to any member of the Great American Group, could reasonably be expected to result in a Material Adverse Effect;
(h) Any default or dispute under any Liquidation Sales Agreement or any Liquidator Joint Venture Agreement; and
(i) Any acquisition or formation of any Subsidiary of Borrower or any Liquidation Joint Venture involving Borrower.
Immediate Notice to Lender. 51 4.33 BORROWING BASE CERTIFICATE................................................ 52 4.34
Immediate Notice to Lender. (a) The Lead Borrower shall provide the Lender with written notice promptly upon the occurrence of any of the following events, which written notice shall be with reasonable particularity as to the facts and circumstances in respect of which such notice is being given:
(i) Any change in Lead Borrower's President, chief executive officer, chief operating officer, and chief financial officer (without regard to the title(s) actually given to the Persons discharging the duties customarily discharged by officers with those titles).
(ii) Any material adverse change in the business, operations, or financial affairs of the Borrowers taken as a whole.
(iii) Any Borrower's becoming in Default.
(iv) The discharge of the Lead Borrower's present independent accountants or any wqithdrawal or resignation by such independent accountants from their acting in such capacity (as to which, see Subsection 5:5-1(d)).
(v) Any litigation which, if determined adversely to any Borrower, might have a Material Adverse Effect.
(b) The Lead Borrower shall:
(i) Provide the Lender, when so distributed, with copies of any materials distributed to the shareholders of the Lead Borrower generally.
Immediate Notice to Lender. (a) The Borrower shall provide the Lender with written notice immediately upon the occurrence of any of the following events, which written notice shall be with reasonable particularity as to the facts and circumstances in respect of which such notice is being given:
(i) Any change in the Borrower's officers.
(ii) Any ceasing of the Borrower's making of payment, in the ordinary course, to any of its creditors (including the ceasing of the making of such payments on account of a dispute with the subject creditor).
(iii) Any material change in the business, operations, or financial affairs of the Borrower.
(iv) The occurrence of any Suspension Event.
(v) Any intention on the part of the Borrower to discharge the Borrower's present independent accountants or any withdrawal or resignation by such independent accountants from their acting in such capacity (as to which, see Subsection 5-1(d)).
(vi) Any litigation which, if determined adversely to the Borrower, might have a material adverse effect on the financial condition of the Borrower.
(vii) Any delay in the Borrower's meeting the timetable for its operations becoming Year 2000 Compliant as described on EXHIBIT 4-5 or maintaining such operations as Year 2000 Compliant, except where such delay or failure to so maintain will have no more than a de minimus effect on the Borrower's operations.
(b) The Borrower shall:
(i) Provide the Lender, when so distributed, with copies of any materials distributed to the shareholders of the Borrower (qua such shareholders).
Immediate Notice to Lender. (a) The Borrower shall provide the Lender with written notice promptly upon the occurrence of any of the following events, which written notice shall be with reasonable particularity as to the facts and circumstances in respect of which such notice is being given:
(i) Any change in the Borrower's officers.
(ii) Any ceasing of the Borrower's or any Subsidiary's making of payment, in the ordinary course, to any of its creditors (other than its ceasing of making of such payments on account of a non-material dispute).
(iii) Any failure by the Borrower to pay rent at any of the Borrower's locations, which failure continues for more than Three (3) days following the last day on which such rent was payable without a material adverse effect to the Borrower.
(iv) Any material adverse change in the business, operations, or financial affairs of the Borrower or any Subsidiary.
(v) The occurrence of any Suspension Event.
(vi) Any intention on the part of the Borrower to discharge the Borrower's present independent accountants or any withdrawal or resignation by such independent accountants from their acting in such capacity (as to which, see Subsection 7-1(d)).
(vii) Any litigation which, if determined adversely to the Borrower or any Subsidiary, might have a material adverse effect on the financial condition of the Borrower or such Subsidiary.
(b) The Borrower shall:
(i) Provide the Lender, when so distributed, with copies of any materials distributed to the shareholders of the Borrower (qua such shareholders).