Common use of Notice of Certain Matters Clause in Contracts

Notice of Certain Matters. Notify the Agent promptly upon acquiring knowledge of the occurrence of any of the following events: (a) the institution or threatened institution of any lawsuit or administrative proceeding affecting a Loan Party that is not covered by insurance (less applicable deductible amounts) and which, if determined adversely to such Loan Party, could reasonably be expected to have a Material Adverse Effect; (b) the occurrence of any Material Adverse Change, or of any event that in the good faith opinion of such Loan Party is likely to result in a Material Adverse Change, affecting such Loan Party; (c) the occurrence of any Event of Default or any Default; (d) a change by ▇▇▇▇▇’▇ Investors Service, Inc. or by Standard and Poor’s Ratings Group in the rating of the Funded Debt of Panhandle Eastern; and (e) such other information respecting the business, financial condition, operations or assets of the Loan Parties as any Agent, or any Bank through the Agent, may from time to time reasonably request.

Notice of Certain Matters. Notify the Agent promptly upon acquiring knowledge of the occurrence of any of the following events: (a) the institution or threatened institution of any lawsuit or administrative proceeding affecting a Loan Party that is not covered by insurance (less applicable deductible amounts) and which, if determined adversely to such Loan Party, could reasonably be expected to have a Material Adverse Effect; (b) the occurrence of any event that has had a Material Adverse ChangeEffect, or of any event that in the good faith opinion of such Loan Party is likely to result in having a Material Adverse ChangeEffect, affecting such Loan Party; (c) the occurrence of any Event of Default or any Default; (d) a change by ▇M▇▇▇▇’▇ Investors Service, Inc. or by Standard and Poor’s Ratings Group in the rating of the Funded Debt of Panhandle EasternPanhandle; and (e) such other information respecting the business, financial condition, operations or assets of the Loan Parties as any Agent, or any Bank through the Agent, may from time to time reasonably request.

Notice of Certain Matters. Notify the Administrative Agent promptly upon acquiring knowledge of the occurrence of any of the following events: (a) the institution or threatened institution of any lawsuit or administrative proceeding affecting a Loan Party that is not covered by insurance (less applicable deductible amounts) and which, if determined adversely to such Loan Party, could reasonably be expected to have a Material Adverse Effect; (b) the occurrence of any Material Adverse Change, or of any event that in the good faith opinion of such Loan Party is likely to result in a Material Adverse Change, affecting such Loan Party; (c) the occurrence of any Event of Default or any Default; (d) a change by ▇▇▇▇▇’▇ Investors Service, Inc. or by Standard and Poor’s Ratings Group in the rating of the Funded Debt of Panhandle Eastern; and (e) such other information respecting the business, financial condition, operations or assets of the Loan Parties as any Administrative Agent, or any Bank through the Administrative Agent, may from time to time reasonably request.