Common use of Notice of Event of Default and Adverse Business Developments Clause in Contracts

Notice of Event of Default and Adverse Business Developments. Immediately after becoming aware of the existence of a Default or an Event of Default or after becoming aware of any developments or other information which is likely to adversely affect Borrower’s properties, business, prospects, profits or condition (financial or otherwise) or its ability to perform its obligation under this Agreement or any other Loan Documents including, without limitation, the following: (a) any dispute that may arise between Borrower and any governmental regulatory body or law enforcement authority, including any action relating to any tax liability of Borrower or guarantor; (b) any labor controversy resulting in or threatening to result in a strike or work stoppage against Borrower; (c) any proposal by any public authority to acquire the assets or business of Borrower; (d) the location of any Collateral other than at Borrower’s place of business or as permitted under this Agreement; (e) any proposed or actual change of Borrower’s name, identity, state of organization or corporate structure; or (f) any other matter which has resulted or may result in a Material Adverse Effect. In each case, Borrower will provide Lender with telephonic notice followed by notice in a Record specifying and describing the nature of such Default, Event of Default or development or information, and such anticipated effect.

Notice of Event of Default and Adverse Business Developments. Immediately after becoming aware of the existence of a Default or an Event of Default or after becoming aware of any developments or other information which is likely to adversely affect Borrower’s 's properties, business, prospects, profits or condition (financial or otherwise) or its ability to perform its obligation under this Agreement or any other Loan Documents including, without limitation, the following: (a) any dispute that may arise between Borrower and any governmental regulatory body or law enforcement authority, including any action relating to any tax liability of Borrower or guarantor; (b) any labor controversy resulting in or threatening to result in a strike or work stoppage against Borrower; (c) any proposal by any public authority to acquire the assets or business of Borrower; (d) the location of any Collateral other than at Borrower’s 's place of business or as permitted under this Agreement; (e) any proposed or actual change of Borrower’s 's name, identity, state of organization or corporate structure; or (f) any other matter which has resulted or may result in a Material Adverse Effect. In each case, Borrower will provide Lender with telephonic notice followed by notice in a Record specifying and describing the nature of such Default, Event of Default or development or information, and such anticipated effect.

Notice of Event of Default and Adverse Business Developments. Immediately after becoming aware of the existence of a Default or an Event of Default or after becoming aware of any developments or other information which is likely to adversely affect Borrower’s 's properties, business, prospects, profits or condition (financial or otherwise) or its ability to perform its obligation under this Agreement or any other Loan Documents including, without limitation, the following: (a) a. any dispute that may arise between Borrower and any governmental regulatory body or law enforcement authority, including any action relating to any tax liability of Borrower or guarantor; (b) b. any labor controversy resulting in or threatening to result in a strike or work stoppage against Borrower; (c) c. any proposal by any public authority to acquire the assets or business of Borrower; (d) d. the location of any Collateral other than at Borrower’s 's place of business or as permitted under this Agreement; (e) e. any proposed or actual change of Borrower’s 's name, identity, state of organization or corporate structure; or (f) f. any other matter which has resulted or may result in a Material Adverse Effect. In each case, Borrower will provide Lender with telephonic notice followed by notice in a Record specifying and describing the nature of such Default, Event of Default or development or information, and such anticipated effect.