Common use of Notice of Certain Matters Clause in Contracts

Notice of Certain Matters. Notify the Bank immediately upon acquiring knowledge of the occurrence of any of the following events: (a) the occurrence of any event having a Material Adverse Effect; (b) the occurrence of any Event of Default or any Default; (c) the existence of any condition requiring a mandatory prepayment pursuant to Section 3.1 hereof; (d) any failure to pay when due any amount payable to the Bank by the Borrower, any Subsidiary or any Guarantor under any non-Eximbank guaranteed loan(s) extended by the Bank to the Borrower, any Subsidiary or any Guarantor; (e) the filing of an action for debtor's relief by, against, or on behalf of the Borrower, any Subsidiary or any Guarantor; (f) any actual or threatened breach of any Export Order, Indirect Export Order or Direct Export Contract by any party to any such contract or (g) any threatened or pending material litigation against the Borrower, any Subsidiary or any Guarantor or any material dispute involving the Borrower, any Subsidiary or any Guarantor. The Borrower shall promptly notify the Bank in writing of the occurrence of any of the following: (a) the Borrower, any Subsidiary or any Guarantor begins or consents in any manner to any proceeding or arrangement for its liquidation in whole or in part or to any other proceeding or arrangement whereby any of its liabilities or whereby any receiver, trustee, liquidator or the like is appointed for it or any substantial part of its assets (including, without limitation, the filing by the Borrower, any Subsidiary or any Guarantor of a petition for appointment as a debtor-in-possession under Title 11 of the U.S. Code); (b) the Borrower, any Subsidiary or any Guarantor fails to obtain the dismissal or stay on appeal within thirty (30) calendar days of the commencement of any proceeding arrangement referred to in (a) above; (c) the Borrower, any Subsidiary or any Guarantor begins any other procedure for the relief of financially distressed or insolvent debtors, or such procedure has been commenced against it, whether voluntarily or involuntarily, and such procedure has not been effectively terminated, dismissed or stayed within thirty (30) calendar days after the commencement thereof, or (d) the Borrower, any Subsidiary or any Guarantor begins any procedure for its dissolution, or a procedure therefore has been commenced against it.

Notice of Certain Matters. Notify the Bank immediately upon acquiring knowledge of the occurrence of any Give Agent written notice of the following events: promptly after any executive officer (vice president or more senior) of Borrower shall become aware of the same: (a) the occurrence issuance by any court or governmental agency or authority of any event injunction, order or other restraint prohibiting, or having a Material Adverse Effect; the effect of prohibiting, the performance of this Agreement, any other Loan Document, or the making of the Loans or the initiation of any litigation, or any claim or controversy which would reasonably be expected to result in the initiation of any litigation, seeking any such injunction, order or other restraint; (b) the occurrence filing or commencement of any action, suit or proceeding, whether at law or in equity or by or before any court or any Governmental Authority involving claims in excess of $500,000 or which may reasonably be expected to result in a Default hereunder; and (c) any Event of Default or Default, specifying the nature and extent thereof and the action (if any) which is proposed to be taken with the respect thereto. Borrower will also notify Agent in writing at least 30 days prior to the date that any Default; (c) Obligor changes its name or the existence location of its chief executive office or principal place of business or the place where it keeps its books and records. After the Effective Date, Borrower will notify Agent in writing at least 45 days prior to any Obligor's acquisition of any condition requiring a mandatory prepayment pursuant to Section 3.1 hereof; (d) any failure to pay when due any amount payable to the Bank by the Borrower, any Subsidiary or any Guarantor under any non-Eximbank guaranteed loan(s) extended by the Bank to the Borrower, any Subsidiary or any Guarantor; (e) the filing of an action for debtor's relief by, against, or on behalf of the Borrower, any Subsidiary or any Guarantor; (f) any actual or threatened breach of any Export Order, Indirect Export Order or Direct Export Contract by any party to any such contract or (g) any threatened or pending material litigation against the Borrower, any Subsidiary or any Guarantor real Property or any material dispute involving personal Property (other than Accounts, Inventory and Equipment), wherever located, other than the BorrowerMortgaged Properties and the other Collateral covered by the Security Documents and other than the Excluded Assets (such acquisition or ownership being herein called an "Additional Collateral Event" and the Property so acquired or owned being herein called "Additional Collateral"). Any such acquisition shall be subject to the provisions of Section 8.14 hereof. In addition to the foregoing, any Subsidiary or any Guarantor. The after the Effective Date, Borrower shall promptly will notify the Bank Agent in writing at least 10 days prior to any prepayment of any part of the occurrence of any term loan Indebtedness currently owing to ▇▇▇▇▇▇ Financial, Inc. or the refinancing of the following: (a) the Borrowerrevolving loan facility currently owing to ▇▇▇▇▇▇ Financial, any Subsidiary or any Guarantor begins or consents in any manner to any proceeding or arrangement for its liquidation in whole or in part or to any other proceeding or arrangement whereby any of its liabilities or whereby any receiver, trustee, liquidator or the like is appointed for it or any substantial part of its assets (including, without limitation, the filing by the Borrower, any Subsidiary or any Guarantor of a petition for appointment as a debtor-in-possession under Title 11 of the U.S. Code); (b) the Borrower, any Subsidiary or any Guarantor fails to obtain the dismissal or stay on appeal within thirty (30) calendar days of the commencement of any proceeding arrangement referred to in (a) above; (c) the Borrower, any Subsidiary or any Guarantor begins any other procedure for the relief of financially distressed or insolvent debtors, or such procedure has been commenced against it, whether voluntarily or involuntarily, Inc. and such procedure has not been effectively terminatedprepayment or refinancing shall constitute an "Additional Collateral Event" and concurrently with such prepayment or refinancing all Property currently securing the applicable Indebtedness owing to ▇▇▇▇▇▇ Financial, dismissed or stayed within thirty (30) calendar days after the commencement thereof, or (d) the Borrower, any Subsidiary or any Guarantor begins any procedure for its dissolution, or a procedure therefore has been commenced against itInc. shall constitute "Additional Collateral".

Notice of Certain Matters. Notify Borrower shall give notice to Bondowner Representative and the Bank immediately upon acquiring Issuer, within 7 days of Borrower’s actual knowledge thereof, of each of the occurrence following: (a) any litigation or claim of any kind affecting or relating to Borrower or to Guarantor until the Conversion Date, and involving an amount in excess of $50,000.00, and any litigation or claim of any kind that might subject Borrower to liability in excess of $50,000.00, whether covered by insurance or not; (b) any aspect of the following events: Project that is not in conformity with the Plans and Specifications in a material respect; (ac) the creation or imposition of any mechanic’s lien, materialmen’s lien or other lien against the Project unless Borrower shall post statutory bonds or other security satisfactory to Bondowner Representative sufficient to cause the removal of such lien; (d) the occurrence of any event having a Material Adverse Effect; default that remains uncured beyond any applicable notice and cure period by Borrower or any other party under any Project Agreement, or the receipt by Borrower of any notice of default under any Project Agreement; (be) the occurrence of any Event of Default or dispute between Borrower and any Default; (c) the existence of any condition requiring a mandatory prepayment pursuant to Section 3.1 hereof; (d) any failure to pay when due any amount payable Governmental Authority relating to the Bank by Project, the Borrower, any Subsidiary or any Guarantor under any non-Eximbank guaranteed loan(s) extended by adverse determination of which might materially affect the Bank to the Borrower, any Subsidiary or any Guarantor; (e) the filing of an action for debtor's relief by, against, or on behalf of the Borrower, any Subsidiary or any Guarantor; Project; (f) any actual or threatened breach of any Export Order, Indirect Export Order or Direct Export Contract by any party to any such contract or (g) any threatened or pending material litigation against the Borrower, any Subsidiary or any Guarantor or any material dispute involving the Borrower, any Subsidiary or any Guarantor. The Borrower shall promptly notify the Bank in writing of the occurrence of any threat or commencement of proceedings in condemnation or eminent domain relating to Borrower’s ownership of the following: Project; (ag) the use of any trade name hereafter used by Borrower in connection with the Project, other than the use of the trade name selected by Borrower prior to lease-up and occupancy of the Project; (h) any change in Borrower’s principal place of business; (i) the occurrence of any Default or event which, with the giving of notice or the passage of time or both, would constitute a Default; (j) the occurrence of any other event or condition causing a material adverse change in the financial condition or operations of Borrower, or in the physical condition of the Property; and (k) any Subsidiary communication, whether written or oral, that Borrower may receive from any governmental, judicial or legal authority, giving notice of any claim or assertion that the Property fail in any material respect to comply with any of the Requirements or any Guarantor begins or consents in any manner to any proceeding or arrangement for its liquidation in whole or in part or to any other proceeding or arrangement whereby any of its liabilities or whereby any receiver, trustee, liquidator or the like is appointed for it or any substantial part of its assets (including, without limitation, the filing by the Borrower, any Subsidiary or any Guarantor of a petition for appointment as a debtor-in-possession under Title 11 of the U.S. Code); (b) the Borrower, any Subsidiary or any Guarantor fails to obtain the dismissal or stay on appeal within thirty (30) calendar days of the commencement of any proceeding arrangement referred to in (a) above; (c) the Borrower, any Subsidiary or any Guarantor begins any other procedure for the relief of financially distressed or insolvent debtors, or such procedure has been commenced against it, whether voluntarily or involuntarily, and such procedure has not been effectively terminated, dismissed or stayed within thirty (30) calendar days after the commencement thereof, or (d) the Borrower, any Subsidiary or any Guarantor begins any procedure for its dissolution, or a procedure therefore has been commenced against it.applicable governmental law,

Notice of Certain Matters. Notify the Bank immediately upon acquiring knowledge of the occurrence of any of the following events: (a) the occurrence of any event having a Material Adverse Effect; (b) the occurrence of any Event of Default or any Default; (c) the existence of any condition requiring a mandatory prepayment pursuant to Section 3.1 hereof; (d) any failure to pay when due any amount payable to the Bank by the Borrower, any Borrower or any Subsidiary of such Borrower or any Guarantor under any non-Eximbank Ex-Im Bank guaranteed loan(s) extended by the Bank to the Borrower, any Borrower or any Subsidiary of such Borrower or any Guarantor; (e) the filing of an action for debtor's relief by, against, or on behalf of the Borrower, any Borrower or any Subsidiary of such Borrower or any Guarantor; (f) any actual or threatened breach of any Export Order, Indirect Export Order or Direct Export Contract by any party to any such contract or contract, (g) any threatened or pending material litigation against the Borrower, any Borrower or any Subsidiary of such Borrower or any Guarantor or any material dispute involving the Borrower, any Borrower or any Subsidiary of such Borrower or any GuarantorGuarantor or (h) the Borrowers have included in the International Borrowing Base any Accounts Receivable or Inventory that no longer qualifies as Eligible Accounts Receivable or Eligible Inventory. The Borrower Borrowers shall promptly notify the Bank in writing of the occurrence of any of the following: (a) the Borrower, any Borrower or any Subsidiary of such Borrower or any Guarantor begins or consents in any manner to any proceeding or arrangement for its liquidation in whole or in part or to any other proceeding or arrangement whereby any of its liabilities or whereby any receiver, trustee, liquidator or the like is appointed for it or any substantial part of its assets (including, without limitation, the filing by the Borrower, any Borrower or any Subsidiary of such Borrower or any Guarantor of a petition for appointment as a debtor-in-possession under Title 11 of the U.S. Code); (b) the Borrower, any Borrower or any Subsidiary of such Borrower or any Guarantor fails to obtain the dismissal or stay on appeal within thirty (30) calendar days of the commencement of any proceeding arrangement referred to in (a) above; (c) the Borrower, any Borrower or any Subsidiary of such Borrower or any Guarantor begins any other procedure for the relief of financially distressed or insolvent debtors, or such procedure has been commenced against it, whether voluntarily or involuntarily, and such procedure has not been effectively terminated, dismissed or stayed within thirty (30) calendar days after the commencement thereof, or (d) the Borrower, any Borrower or any Subsidiary of such Borrower or any Guarantor begins any procedure for its dissolution, or a procedure therefore has been commenced against it.

Notice of Certain Matters. Notify Each Borrower shall provide to Lender prompt notice of (a) the commencement, to the extent such Borrower is aware of the same, of all actions and proceedings in any court against any Borrower or any of the Collateral, (b) any amendment of any of the organizational documents of any Borrower, including but not limited to articles of incorporation or bylaws, (c) any change in the business, financial condition, results of operations or business prospects of any Borrower and any change in the executive officers of any Borrower (including, without limitation, if either (x) ▇▇▇▇▇▇▇ ▇▇▇▇▇ shall for any reason cease to hold the office of President and Chief Executive Officer of Mendocino Brewing, or (y) ▇. ▇▇▇▇▇▇▇▇▇ shall for any reason cease to hold the office of Chief Financial Officer of Mendocino Brewing), and (d) any (i) Default or Event of Default, or (ii) event that would constitute a default or event of default by any Borrower under any Material Agreement (other than this Agreement) to which such Borrower is a party. In addition, each Borrower will promptly notify Bank immediately in writing upon acquiring knowledge receiving from any unpaid seller, supplier or agent any written notice of intent to preserve the benefits of the trust created under PACA or any Agricultural Lien Statute, the commencement of any action by any beneficiary of the trust created under PACA or any Agricultural Lien Statute to enforce payment from such trust, or any action commenced by the U.S. Department of Agriculture or any governmental body or regulatory authority against Borrower to enforce payment from the trust created under PACA or any Agricultural Lien Statute. In addition, each Borrower will promptly notify Lender in writing (a) upon receiving any direct notice from any secured party claiming a security interest or agricultural lien in any “farm products” (as defined in the UCC) purchased by such Borrower, (b) upon receiving any notice from any eligible claimant or other Person entitled to protection under an Agricultural Lien Statute, (c) upon learning that any Person from whom such Borrower has purchased Inventory has failed to comply with the Food Security Act or any Agricultural Lien Statute, and (d) upon receiving any written notice or other written communication from any licensing authority under any Agricultural Lien Statute. In addition, so long as any of UBH, UBA or Inversiones remain significant shareholders, directly or indirectly, of Mendocino Brewing, Mendocino Brewing agrees that it will promptly notify Lender in writing upon learning of the occurrence of any of the following events: events or circumstances: (aA) the occurrence of any event having a Material Adverse Effect; UBH, UBA or Inversiones shall (bi) the occurrence of any Event of Default apply for or any Default; (c) the existence of any condition requiring a mandatory prepayment pursuant to Section 3.1 hereof; (d) any failure to pay when due any amount payable consent to the Bank by the Borrower, any Subsidiary or any Guarantor under any non-Eximbank guaranteed loan(s) extended by the Bank to the Borrower, any Subsidiary or any Guarantor; (e) the filing appointment of an action for debtor's relief by, against, or on behalf of the Borrower, any Subsidiary or any Guarantor; (f) any actual or threatened breach of any Export Order, Indirect Export Order or Direct Export Contract by any party to any such contract or (g) any threatened or pending material litigation against the Borrower, any Subsidiary or any Guarantor or any material dispute involving the Borrower, any Subsidiary or any Guarantor. The Borrower shall promptly notify the Bank in writing of the occurrence of any of the following: (a) the Borrower, any Subsidiary or any Guarantor begins or consents in any manner to any proceeding or arrangement for its liquidation in whole or in part or to any other proceeding or arrangement whereby any of its liabilities or whereby any a receiver, trustee, custodian, intervenor or liquidator of such Person or the like is appointed for it of all or any a substantial part of such Person’s assets, (ii) file a voluntary petition in bankruptcy, (iii) admit in writing that such Person is unable to pay its assets debts as they become due, (includingiv) make a general assignment for the benefit of creditors, without limitation, the filing by the Borrower, any Subsidiary or any Guarantor of (v) file a petition for appointment as a debtor-in-possession under Title 11 of the U.S. Code); (b) the Borrower, any Subsidiary or any Guarantor fails answer seeking reorganization or an arrangement with creditors or to obtain the dismissal or stay on appeal within thirty (30) calendar days of the commencement take advantage of any proceeding arrangement referred to in (a) above; (c) the Borrower, any Subsidiary bankruptcy or any Guarantor begins any other procedure for the relief of financially distressed or insolvent debtors, or such procedure has been commenced against it, whether voluntarily or involuntarily, and such procedure has not been effectively terminated, dismissed or stayed within thirty (30) calendar days after the commencement thereofinsolvency proceeding, or (dvii) take corporate, company or partnership action for the Borrowerpurpose of effecting any of the foregoing; or (B) An involuntary petition or complaint shall be filed against UBH, any Subsidiary UBA or any Guarantor begins any procedure for its dissolutionInversiones seeking bankruptcy or reorganization of such Person or the appointment of a receiver, custodian, trustee, intervenor or liquidator of such Person, or of all or substantially all of such Person’s assets; or an order, order for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a procedure therefore has been commenced against itpetition or complaint seeking reorganization of such Person or appointing an intervenor or liquidator of such Person, or of all or substantially all of such Person’s assets.

Notice of Certain Matters. Notify Borrower shall give notice to Bondowner Representative and the Bank immediately upon acquiring Issuer, within 7 days of ▇▇▇▇▇▇▇▇’s actual knowledge thereof, of each of the occurrence following: (a) any litigation or claim of any kind affecting or relating to Borrower or to Guarantor until the Conversion Date, and involving an amount in excess of $50,000.00, and any litigation or claim of any kind that might subject Borrower to liability in excess of $50,000.00, whether covered by insurance or not; (b) any aspect of the following events: Project that is not in conformity with the Plans and Specifications in a material respect; (ac) the creation or imposition of any mechanic’s lien, materialmen’s lien or other lien against the Project unless Borrower shall post statutory bonds or other security satisfactory to Bondowner Representative sufficient to cause the removal of such lien; (d) the occurrence of any event having a Material Adverse Effect; default that remains uncured beyond any applicable notice and cure period by Borrower or any other party under any agreement relating to the development of the Project, or the receipt by Borrower of any notice of default under any agreement relating to the development of the Project; (be) the occurrence of any Event of Default or dispute between ▇▇▇▇▇▇▇▇ and any Default; (c) the existence of any condition requiring a mandatory prepayment pursuant to Section 3.1 hereof; (d) any failure to pay when due any amount payable Governmental Authority relating to the Bank by Project, the Borrower, any Subsidiary or any Guarantor under any non-Eximbank guaranteed loan(s) extended by adverse determination of which might materially affect the Bank to the Borrower, any Subsidiary or any Guarantor; (e) the filing of an action for debtor's relief by, against, or on behalf of the Borrower, any Subsidiary or any Guarantor; Project; (f) any actual or threatened breach of any Export Order, Indirect Export Order or Direct Export Contract by any party to any such contract or (g) any threatened or pending material litigation against the Borrower, any Subsidiary or any Guarantor or any material dispute involving the Borrower, any Subsidiary or any Guarantor. The Borrower shall promptly notify the Bank in writing of the occurrence of any threat or commencement of proceedings in condemnation or eminent domain relating to ▇▇▇▇▇▇▇▇’s ownership of the following: Project; (ag) the use of any trade name hereafter used by Borrower in connection with the Project, other than the use of the trade name selected by Borrower prior to lease-up and occupancy of the Project; (h) any change in Borrower’s principal place of business; (i) the occurrence of any Default or event which, with the giving of notice or the passage of time or both, would constitute a Default; (j) the occurrence of any “Default” or “Event of Default” under the AHAP Contract, any HAP Contract, any HUD Document, any Subordinate Loan Document or any Restrictions, or the receipt by Borrower of any notice of “Default” or “Event of Default” under the AHAP Contract, any HAP Contract, any HUD Documents, any Subordinate Loan Document or any Restrictions; (k) the occurrence of any other event or condition causing a material adverse change in the financial condition or operations of Borrower, or in the physical condition of the Property; and (l) any Subsidiary communication, whether written or oral, that Borrower may receive from any governmental, judicial or legal authority, giving notice of any claim or assertion that the Property fail in any material respect to comply with any of the Requirements or any Guarantor begins or consents in any manner to any proceeding or arrangement for its liquidation in whole or in part or to any other proceeding or arrangement whereby any of its liabilities or whereby any receiver, trustee, liquidator or the like is appointed for it or any substantial part of its assets (including, without limitation, the filing by the Borrower, any Subsidiary or any Guarantor of a petition for appointment as a debtor-in-possession under Title 11 of the U.S. Code); (b) the Borrower, any Subsidiary or any Guarantor fails to obtain the dismissal or stay on appeal within thirty (30) calendar days of the commencement of any proceeding arrangement referred to in (a) above; (c) the Borrower, any Subsidiary or any Guarantor begins any other procedure for the relief of financially distressed or insolvent debtors, or such procedure has been commenced against it, whether voluntarily or involuntarily, and such procedure has not been effectively terminated, dismissed or stayed within thirty (30) calendar days after the commencement thereof, or (d) the Borrower, any Subsidiary or any Guarantor begins any procedure for its dissolution, or a procedure therefore has been commenced against it.applicable governmental law,

Notice of Certain Matters. Notify Borrower shall give notice to Bondowner Representative and the Bank immediately upon acquiring Issuer, within 7 days of Borrower’s actual knowledge thereof, of each of the occurrence following: (a) any litigation or claim of any kind affecting or relating to Borrower or to Guarantor until the Conversion Date, and involving an amount in excess of $50,000.00, and any litigation or claim of any kind that might subject Borrower to liability in excess of $50,000.00, whether covered by insurance or not; (b) any aspect of the following events: Project that is not in conformity with the Plans and Specifications in a material respect; (ac) the creation or imposition of any mechanic’s lien, materialmen’s lien or other lien against the Project unless Borrower shall post statutory bonds or other security satisfactory to Bondowner Representative sufficient to cause the removal of such lien; (d) the occurrence of any event having a Material Adverse Effect; default that remains uncured beyond any applicable notice and cure period by Borrower or any other party under any agreement relating to the development of the Project, or the receipt by Borrower of any notice of default under any agreement relating to the development of the Project; (be) the occurrence of any Event of Default or dispute between Borrower and any Default; (c) the existence of any condition requiring a mandatory prepayment pursuant to Section 3.1 hereof; (d) any failure to pay when due any amount payable Governmental Authority relating to the Bank by Project, the Borrower, any Subsidiary or any Guarantor under any non-Eximbank guaranteed loan(s) extended by adverse determination of which might materially affect the Bank to the Borrower, any Subsidiary or any Guarantor; (e) the filing of an action for debtor's relief by, against, or on behalf of the Borrower, any Subsidiary or any Guarantor; Project; (f) any actual or threatened breach of any Export Order, Indirect Export Order or Direct Export Contract by any party to any such contract or (g) any threatened or pending material litigation against the Borrower, any Subsidiary or any Guarantor or any material dispute involving the Borrower, any Subsidiary or any Guarantor. The Borrower shall promptly notify the Bank in writing of the occurrence of any threat or commencement of proceedings in condemnation or eminent domain relating to Borrower’s ownership of the following: Project; (ag) the use of any trade name hereafter used by Borrower in connection with the Project, other than the use of the trade name selected by Borrower prior to lease-up and occupancy of the Project; (h) any change in Borrower’s principal place of business; (i) the occurrence of any Default or event which, with the giving of notice or the passage of time or both, would constitute a Default; (j) the occurrence of any “Default” or “Event of Default” under the AHAP Contract, any HAP Contract, any HUD Document, any Subordinate Loan Document or any Restrictions, or the receipt by Borrower of any notice of “Default” or “Event of Default” under the AHAP Contract, any HAP Contract, any HUD Documents, any Subordinate Loan Document or any Restrictions; (k) the occurrence of any other event or condition causing a material adverse change in the financial condition or operations of Borrower, or in the physical condition of the Property; and (l) any Subsidiary communication, whether written or oral, that Borrower may receive from any governmental, judicial or legal authority, giving notice of any claim or assertion that the Property fail in any material respect to comply with any of the Requirements or any Guarantor begins or consents in any manner to any proceeding or arrangement for its liquidation in whole or in part or to any other proceeding or arrangement whereby any of its liabilities or whereby any receiver, trustee, liquidator or the like is appointed for it or any substantial part of its assets (including, without limitation, the filing by the Borrower, any Subsidiary or any Guarantor of a petition for appointment as a debtor-in-possession under Title 11 of the U.S. Code); (b) the Borrower, any Subsidiary or any Guarantor fails to obtain the dismissal or stay on appeal within thirty (30) calendar days of the commencement of any proceeding arrangement referred to in (a) above; (c) the Borrower, any Subsidiary or any Guarantor begins any other procedure for the relief of financially distressed or insolvent debtors, or such procedure has been commenced against it, whether voluntarily or involuntarily, and such procedure has not been effectively terminated, dismissed or stayed within thirty (30) calendar days after the commencement thereof, or (d) the Borrower, any Subsidiary or any Guarantor begins any procedure for its dissolution, or a procedure therefore has been commenced against it.applicable governmental law,