Common use of Notice of Certain Occurrences Clause in Contracts

Notice of Certain Occurrences. Mortgagor shall give notice to Mortgagee promptly upon the occurrence of: (a) any Default or Event of Default; (b) any (i) default or event of default under any provision of any security issued by or any agreement, instrument or undertaking of Mortgagor or which binds Mortgagor or any property thereof (collectively, "Contractual Obligations") or (ii) litigation, investigation or proceeding which may exist at any time between Mortgagor and any Governmental Authority, which, with respect to both clauses (i) and (ii), could have a material adverse effect on the business, operations, property or financial or other condition of Mortgagor;