Common use of Notice of Events Clause in Contracts

Notice of Events. Promptly upon discovery by the Borrower or any officer or manager of the Borrower of any of the events described in subsections (a) through (g) below, the Borrower shall deliver to the Lender within three (3) days of the discovery a written notice, which describes the event and all action the Borrower proposes to take with respect thereto: (a) an Event of Default or Potential Default under this Agreement; (b) any default or event of default under a contract or contracts and the default or event of default involves payments by one or more of the Borrower or the Parent in an aggregate amount equal to or in excess of Twenty-Five Thousand Dollars ($25,000.00); (c) a default or event of default under or as defined in any evidence of or agreements for Indebtedness for Borrowed Money under which the Borrower’s or the Parent’s liability is equal to or in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) singularly or in the aggregate, whether or not an event of default has been declared by any party to the agreement or any event which, upon the lapse of time or the giving of notice or both, would become an event of default under any agreement or instrument or would permit any party to the instrument or agreement to terminate or suspend any commitment to lend to the Borrower or the Parent or to declare or to cause any of the indebtedness to be accelerated or payable before it would otherwise be due; (d) the institution of, any material adverse determination in, or the entry of any default judgment or order or stipulated judgment or order in, any suit, action, arbitration, administrative proceeding, criminal prosecution or governmental investigation against the Borrower or the Parent in which the amount in controversy is at least Twenty-Five Thousand and No/100 Dollars ($25,000.00) singularly or in the aggregate; (e) any change in any Regulation, including, without limitation, changes in tax laws and regulations, which could reasonably have a material adverse impact on the ability of the Borrower to perform its obligations under the Loan Documents or a Material Adverse Effect; (f) the receipt of any notice from any governmental authority that the Borrower is disqualified, barred or suspended from bidding on or performing any contract or proposed contract; or (g) any change in the location of its place of business, of the places where records concerning its Accounts are kept, or any new location or discontinuance of any place of business.

Appears in 1 contract

Sources: Loan and Security Agreement (IEG Holdings Corp)

Notice of Events. Promptly upon discovery by the any Borrower or any officer or manager of the any Borrower of any of the events described in subsections (a) through (ge) belowhereof, The West Company shall, on behalf of the Borrower shall Borrowers, deliver to an officer of the Agent active on the Borrowers' accounts telephone notice, and within three calendar days of such telephone notice deliver to the Lender within three (3) days of the discovery Agent a written notice, which describes the event and all action the Borrower proposes Borrowers propose to take with respect thereto: (a) an Event of Default or Potential Default under this Agreement; (b) any default or event of default under a contract or contracts and the default or event of default involves payments by one or more of the Borrower or the Parent in an aggregate amount equal to or in excess of Twenty-Five Thousand Dollars ($25,000.00)Potential Default; (c) a default or event of default resulting from failure to make required payments or breach of any financial covenant under or as defined in any evidence of or agreements for Indebtedness for Borrowed Money under which the any Borrower’s 's or the Parent’s Subsidiary's liability is equal to or in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) 10,000,000 singularly or in the aggregate, whether or not an event of default thereunder has been declared by any party to the such agreement or any event which, upon the lapse of time or the giving of notice or both, would become an event of default under any such agreement or instrument or would permit any party to the instrument or any such agreement to terminate or suspend any commitment to lend to the Borrower Borrowers or the Parent Subsidiaries or to declare or to cause any of the such indebtedness to be accelerated or payable before it would otherwise be due; (d) the institution of, any material adverse determination in, or the entry of any default judgment or order or stipulated judgment or order in, any suit, action, arbitration, administrative proceeding, criminal prosecution or governmental investigation against the Borrower or the Parent in which the amount in controversy is at least Twenty-Five Thousand and No/100 Dollars ($25,000.00) singularly or could reasonably result in the aggregate;a Material Adverse Effect; or (e) any change in any Regulation, including, without limitation, changes in tax laws and regulations, which could reasonably have a material adverse impact on the ability of the Borrower Borrowers to perform its their obligations under the Loan Documents or a Material Adverse Effect; (f) the receipt of any notice from any governmental authority that the Borrower is disqualified, barred or suspended from bidding on or performing any contract or proposed contract; or (g) any change in the location of its place of business, of the places where records concerning its Accounts are kept, or any new location or discontinuance of any place of business.

Appears in 1 contract

Sources: Credit Agreement (West Co Inc)

Notice of Events. Promptly upon discovery by the Borrower or any officer or manager of the Borrower of any of the events described in subsections (a) through (g) belowfollowing events, the Borrower CLC shall deliver provide telephone notice to the Lender Bank (confirmed within three (3) calendar days of the discovery a by written notice), which describes describing the event and all action the Borrower CLC proposes to take with respect thereto: (a) an Event of Default or Potential Default under this AgreementAgreement or any other Loan Document; (b) any default or event of default under a contract or contracts and the default or event of default involves payments by one or more of the Borrower or the Parent CLC in an aggregate amount equal to or in excess of Twenty-Five Thousand Dollars ($25,000.00)1,000,000; (c) a default or event of default under or as defined in any evidence of or agreements for Indebtedness for Borrowed Money under which the Borrower’s CLC's or the Parent’s its Subsidiaries' liability is equal to or in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) 1,000,000, singularly or in the aggregate, whether or not an event of default thereunder has been declared by any party to the such agreement or any event which, upon the lapse of time or the giving of notice or both, would become an event of default under any such agreement or instrument or would permit any party to the any such instrument or agreement to terminate or suspend any commitment to lend to the Borrower CLC or the Parent its Subsidiaries or to declare or to cause any of the such indebtedness to be accelerated or payable before it would otherwise be due; (d) the institution of, any material adverse determination in, or the entry of any default judgment or order or stipulated judgment or order in, any suit, action, arbitration, administrative proceeding, criminal Credit Agreement, June 16, 1997 - 25 - Chemical ▇▇▇▇▇▇ Corporation prosecution or governmental investigation against the Borrower CLC or the Parent its Subsidiaries in which the amount in controversy is at least Twenty-Five Thousand and No/100 Dollars (in excess of $25,000.00) 1,000,000, singularly or in the aggregate;; or (e) any change in any Regulation, including, without limitation, changes in tax laws and regulations, which could reasonably would have a material adverse impact on the ability of the Borrower to perform its obligations under the Loan Documents or a Material Adverse Effect; (f) the receipt of Effect on CLC or any notice from any governmental authority that the Borrower is disqualified, barred or suspended from bidding on or performing any contract or proposed contract; or (g) any change in the location of its place of business, of the places where records concerning its Accounts are kept, or any new location or discontinuance of any place of businessSubsidiaries.

Appears in 1 contract

Sources: Credit Agreement (Chemical Leaman Corp /Pa/)

Notice of Events. Promptly upon discovery by the Borrower or any officer or manager of the Borrower of any of the events described in subsections (a) through (g) belowfollowing events, the Borrower it shall deliver provide telephone notice to the Lender Bank (confirmed within three (3) calendar days of the discovery a by written notice), which describes describing the event and all action the Borrower ABL, FLC or any Guarantor, as applicable, proposes to take with respect thereto: (a) an Event of Default or Potential Default under this AgreementAgreement or any other Loan Document; (b) any default or event of default under a contract or contracts and the default or event of default involves payments by one ABL, FLC or more of the Borrower or the Parent any Guarantor in an aggregate amount equal to or in excess of Twenty-Five Thousand Dollars ($25,000.00)500,000; (c) a default or event of default under or as defined in any evidence of or agreements for Indebtedness for Borrowed Money under which the Borrower’s its or the Parent’s any Guarantor's liability is equal to or in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) 500,000, singularly or in the aggregate, whether or not an event of default thereunder has been declared by any party to the such agreement or any event which, upon the lapse of time or the giving of notice or both, would become an event of default under any such agreement or instrument or would permit any party to the any such instrument or agreement to terminate or suspend any commitment to lend to the Borrower ABL, FLC or the Parent any Guarantor or to declare or to cause any of the such indebtedness to be accelerated or payable before it would otherwise be due; (d) the institution of, any material adverse determination in, or the entry of any default final judgment or order or stipulated judgment or order in, any suit, action, arbitration, administrative proceeding, criminal prosecution or governmental investigation against the Borrower ABL, FLC or the Parent any Guarantor in which the amount in controversy is at least Twenty-Five Thousand and No/100 Dollars (in excess of $25,000.00) 500,000, singularly or in the aggregate;; or (e) any change in any Regulation, including, without limitation, changes in tax laws and regulations, which could reasonably would have a material adverse impact on the ability of the Borrower to perform its obligations under the Loan Documents or a Material Adverse Effect; (f) the receipt of any notice from any governmental authority that the Borrower is disqualified, barred or suspended from bidding on or performing any contract or proposed contract; or (g) any change in the location of its place of business, of the places where records concerning its Accounts are kept, or any new location or discontinuance of any place of business.

Appears in 1 contract

Sources: Credit Agreement (American Business Financial Services Inc /De/)

Notice of Events. Promptly upon discovery by the Borrower or any officer or manager of the Borrower of any of the events described in subsections (a) through (g) belowfollowing ----------------------- events, the Borrower Borrowers shall deliver provide telephone notice to the Lender Banks (confirmed within three (3) calendar days of the discovery a by written notice), which describes describing the event and all action the Borrower proposes Borrowers or any of them, as applicable, propose to take with respect thereto: (a) an Event of Default or Potential Default under this AgreementAgreement or any other Loan Document; (b) any default or event of default under a contract or contracts and the default or event of default involves payments by one or more of the any Borrower or the Parent in an aggregate amount equal to or in excess of Twenty-Five Thousand Dollars ($25,000.00)250,000; (c) a default or event of default under or as defined in any evidence of or agreements for Indebtedness for Borrowed Money under which the any Borrower’s or the Parent’s 's liability is equal to or in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) 250,000, singularly or in the aggregate, whether or not an event of default thereunder has been declared by any party to the such agreement or any event which, upon the lapse of time or the giving of notice or both, would become an event of default under any such agreement or instrument or would permit any party to the any such instrument or agreement to terminate or suspend any commitment to lend to the such Borrower or the Parent or to declare or to cause any of the such indebtedness to be accelerated or payable before it would otherwise be due; (d) the institution of, any material adverse determination in, or the entry of any default judgment or order or stipulated judgment or order in, any suit, action, arbitration, administrative proceeding, criminal prosecution or governmental investigation against the any Borrower or the Parent in which the amount in controversy is at least Twenty-Five Thousand and No/100 Dollars (in excess of $25,000.00) 250,000, singularly or in the aggregate;; or (e) any change in any Regulation, including, without limitation, changes in tax laws and regulations, which could reasonably would have a material adverse impact on the ability of the Borrower to perform its obligations under the Loan Documents or a Material Adverse Effect;; or (f) any change in its ability, or the receipt ability of any notice from any governmental authority that the Borrower is disqualifiedthird party contemplated in ss. 3.17 and ss. 5.13, barred or suspended from bidding on or performing any contract or proposed contract; or (g) to timely address a Year 2000 Problem which could have a Material Adverse Effect as well as any change in the location of its place of business, of either the places where records concerning its Accounts are kept, process toward resolution or any new location or discontinuance the purported completed resolution of any place of businesssuch Year 2000 Problem.

Appears in 1 contract

Sources: Credit Agreement (Eplus Inc)

Notice of Events. Promptly upon discovery by the Borrower or any officer or manager of the Borrower of any of the events described in subsections (a) through (g) belowfollowing events, the Borrower Borrowers shall deliver provide telephone notice to the Lender Banks (confirmed within three (3) calendar days of the discovery a by written notice), which describes describing the event and all action the Borrower proposes Borrowers or any of them, as applicable, propose to take with respect thereto: (a) an Event of Default or Potential Default under this AgreementAgreement or any other Loan Document; (b) any default or event of default under a contract or contracts and the default or event of default involves payments by one or more of the any Borrower or the Parent in an aggregate amount equal to or in excess of Twenty-Five Thousand Dollars ($25,000.00)250,000; (c) a default or event of default under or as defined in any evidence of or agreements for Indebtedness for Borrowed Money under which the any Borrower’s or the Parent’s 's liability is equal to or in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) 250,000, singularly or in the aggregate, whether or not an event of default thereunder has been declared by any party to the such agreement or any event which, upon the lapse of time or the giving of notice or both, would become an event of default under any such agreement or instrument or would permit any party to the any such instrument or agreement to terminate or suspend any commitment to lend to the such Borrower or the Parent or to declare or to cause any of the such indebtedness to be accelerated or payable before it would otherwise be due; (d) the institution of, any material adverse determination in, or the entry of any default judgment or order or stipulated judgment or order in, any suit, action, arbitration, administrative proceeding, criminal prosecution or governmental investigation against the any Borrower or the Parent in which the amount in controversy is at least Twenty-Five Thousand and No/100 Dollars (in excess of $25,000.00) 250,000, singularly or in the aggregate;; or (e) any change in any Regulation, including, without limitation, changes in tax laws and regulations, which could reasonably would have a material adverse impact on the ability of the Borrower to perform its obligations under the Loan Documents or a Material Adverse Effect;; or (f) any change in its ability, or the receipt ability of any notice from any governmental authority that the Borrower is disqualifiedthird party contemplated in ss. 3.17 and ss. 5.13, barred or suspended from bidding on or performing any contract or proposed contract; or (g) to timely address a Year 2000 Problem which could have a Material Adverse Effect as well as any change in the location of its place of business, of either the places where records concerning its Accounts are kept, process toward resolution or any new location or discontinuance the purported completed resolution of any place of businesssuch Year 2000 Problem.

Appears in 1 contract

Sources: Credit Agreement (MLC Holdings Inc)

Notice of Events. Promptly upon discovery by the Borrower or any officer or manager of the Borrower of any of the events described in subsections (a) through (g) belowfollowing events, the Borrower shall deliver provide telephone notice to the Lender Security Agent and the Administrative Agent (confirmed within three (3) calendar days of by written notice from the discovery a written notice, which describes Borrower to each Bank) describing the event and all action the Borrower proposes propose to take with respect thereto: (a) an Event of Default or Potential Default under this AgreementAgreement or any other Loan Document; (b) any default or event of default under a contract or contracts and the default or event of default involves payments by one or more of the Borrower or the Parent in an aggregate amount equal to or in excess of Twenty-Five Thousand Dollars ($25,000.00)1,000,000; (c) a default or event of default under or as defined in any evidence of or agreements for Indebtedness for Borrowed Money under which the Borrower’s or the Parent’s liability is equal to or in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) 1,000,000, singularly or in the aggregate, whether or not an event of default thereunder has been declared by any party to the such agreement or any event which, upon the lapse of time or the giving of notice or both, would become an event of default under any such agreement or instrument or would permit any party to the any such instrument or agreement to terminate or suspend any commitment to lend to the Borrower or the Parent or to declare or to cause any of the such indebtedness to be accelerated or payable before it would otherwise be due; (d) the institution of, any material adverse determination in, or the entry of any default judgment or order or stipulated judgment or order in, any suit, action, arbitration, administrative proceeding, criminal prosecution or governmental investigation against the Borrower or the Parent in which the amount in controversy is at least Twenty-Five Thousand and No/100 Dollars (in excess of $25,000.00) 1,000,000, singularly or in the aggregate; (e) any change in any Regulation, including, without limitation, changes in tax laws and regulations, which could reasonably would have a material adverse impact on the ability of the Borrower to perform its obligations under the Loan Documents or a Material Adverse Effect;; or (f) the receipt any “Event of any notice from any governmental authority that the Borrower is disqualified, barred Default” or suspended from bidding on or performing any contract or proposed contract; or “Servicer Event of Default” (g) any change in each case as defined in the location of its place of business, of WLFC Funding Facility) under the places where records concerning its Accounts are kept, or any new location or discontinuance of any place of businessWLFC Funding Facility.

Appears in 1 contract

Sources: Credit Agreement (Willis Lease Finance Corp)

Notice of Events. Promptly upon discovery by the Borrower or any officer or manager of the Borrower of any of the events described in subsections (a) through (g) belowfollowing events, the Borrower shall deliver provide telephone notice to the Lender (confirmed within three (3) calendar days of by written notice from the discovery a written notice, which describes Borrower to the Lender) describing the event and all action the Borrower proposes to take with respect thereto: (a) an Event of Default or Potential Default under this AgreementAgreement or any other Loan Document; (b) any default or event of default under a contract or contracts and the default or event of default involves payments by one or more of the Borrower or the Parent in an aggregate amount equal to or in excess of Twenty-Five Thousand Dollars ($25,000.00)3,000,000; (c) a default or event of default under or as defined in any evidence of or agreements for Indebtedness for Borrowed Money under which the Borrower’s or the Parent’s 's liability is equal to or in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) 3,000,000, singularly or in the aggregate, whether or not an event of default thereunder has been declared by any party to the such agreement or any event which, upon the lapse of time or the giving of notice or both, would become an event of default under any such agreement or instrument or would permit any party to the any such instrument or agreement to terminate or suspend any commitment to lend to the Borrower or the Parent or to declare or to cause any of the such indebtedness to be accelerated or payable before it would otherwise be due; (d) the institution of, any material adverse determination in, or the entry of any default judgment or order or stipulated judgment or order in, any suit, action, arbitration, administrative proceeding, criminal prosecution or governmental investigation against the Borrower or the Parent in which the amount in controversy is at least Twenty-Five Thousand and No/100 Dollars (in excess of $25,000.00) 3,000,000, singularly or in the aggregate; (e) any change in any Regulation, including, without limitation, changes in tax laws and regulations, which could reasonably would have a material adverse impact on the ability of the Borrower to perform its obligations under the Loan Documents or a Material Adverse Effect;; or (f) the receipt any "Event of any notice from any governmental authority that the Borrower is disqualified, barred or suspended from bidding on or performing any contract or proposed contract; or Default" (g) any change as defined in the location of its place of business, of Other Facility Agreement) under the places where records concerning its Accounts are kept, or any new location or discontinuance of any place of businessOther Facility Agreement.

Appears in 1 contract

Sources: Credit Agreement (Willis Lease Finance Corp)

Notice of Events. Promptly upon discovery by the Borrower or any officer or manager of the Borrower of any of the events described in subsections (a) through (g) belowfollowing events, the Borrower H▇▇▇ Companies shall deliver provide telephone notice to the Lender Banks (confirmed within three (3) calendar days of the discovery a by written notice), which describes describing the event and all action the Borrower H▇▇▇ Companies proposes to take with respect thereto: (a) an Event of Default or Potential Default under this AgreementAgreement or any other Loan Document; (b) any default or event of default under a contract or contracts and the default or event of default involves payments by one or more of the Borrower or the Parent H▇▇▇ Companies in an aggregate amount equal to or in excess of Twenty-Five Thousand Dollars ($25,000.00)1,000,000; (c) a default or event of default under or as defined in any evidence of or agreements for Indebtedness for Borrowed Money under which the Borrower’s any H▇▇▇ Company's or the Parent’s its Subsidiaries' liability is equal to or in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) 1,000,000, singularly or in the aggregate, whether or not an event of default thereunder has been declared by any party to the such agreement or any event which, upon the lapse of time or the giving of notice or both, would become an event of default under any such agreement or instrument or would permit any party to the any such instrument or agreement to terminate or suspend any commitment to lend to the Borrower H▇▇▇ Companies or the Parent their Subsidiaries or to declare or to cause any of the such indebtedness to be accelerated or payable before it would otherwise be due; (d) the institution of, any material adverse determination in, or the entry of any default judgment or order or stipulated judgment or order in, any suit, action, arbitration, administrative proceeding, criminal prosecution or governmental investigation against the Borrower H▇▇▇ Companies or the Parent their Subsidiaries in which the amount in controversy is at least Twenty-Five Thousand and No/100 Dollars (in excess of $25,000.00) 1,000,000, singularly or in the aggregate;; or (e) any change in the ability of the H▇▇▇ Companies, or the ability of any third party contemplated in ss.3.17 and ss.5.15, to timely address a Year 2000 Problem which could have a Material Adverse Effect as well as any change in either the process toward resolution or the purported completed resolution of any such Year 2000 Problem; or (f) any change in any Regulation, including, without limitation, changes in tax laws and regulations, which could reasonably would have a material adverse impact on the ability of the Borrower to perform its obligations under the Loan Documents or a Material Adverse Effect; (f) Effect on the receipt of any notice from any governmental authority that the Borrower is disqualified, barred or suspended from bidding on or performing any contract or proposed contract; or (g) any change in the location of its place of business, of the places where records concerning its Accounts are kept, H▇▇▇ Companies or any new location or discontinuance of any place of businesstheir Subsidiaries.

Appears in 1 contract

Sources: Credit Agreement (Sjit Inc)

Notice of Events. Promptly upon discovery by the Borrower or any officer or manager of the Borrower of any of the events described in subsections (a) through (g) belowfollowing events, the Borrower shall deliver provide telephone notice to the Lender Security Agent and the Administrative Agent (confirmed within three (3) calendar days of by written notice from the discovery a written notice, which describes Borrower to each Bank) describing the event and all action the Borrower proposes to take with respect thereto: (a) an Event of Default or Potential Default under this AgreementAgreement or any other Loan Document; (b) any default or event of default under a contract or contracts and the default or event of default involves payments by one or more of the Borrower or the Parent in an aggregate amount equal to or in excess of Twenty-Five Thousand Dollars ($25,000.00)2,500,000; (c) a default or event of default under or as defined in any evidence of or agreements for Indebtedness for Borrowed Money under which the Borrower’s or the Parent’s liability is equal to or in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) 2,500,000, singularly or in the aggregate, whether or not an event of default thereunder has been declared by any party to the such agreement or any event which, upon the lapse of time or the giving of notice or both, would become an event of default under any such agreement or instrument or would permit any party to the any such instrument or agreement to terminate or suspend any commitment to lend to the Borrower or the Parent or to declare or to cause any of the such indebtedness to be accelerated or payable before it would otherwise be due; (d) the institution of, any material adverse determination in, or the entry of any default judgment or order or stipulated judgment or order in, any suit, action, arbitration, administrative proceeding, criminal prosecution or governmental investigation against the Borrower or the Parent in which the amount in controversy is at least Twenty-Five Thousand and No/100 Dollars (in excess of $25,000.00) 2,500,000, singularly or in the aggregate; (e) any change in any Regulation, including, without limitation, changes in tax laws and regulations, which could reasonably would have a material adverse impact on the ability of the Borrower to perform its obligations under the Loan Documents or a Material Adverse Effect;; or (f) the receipt any “Event of any notice from any governmental authority that the Borrower is disqualified, barred Default” or suspended from bidding on or performing any contract or proposed contract; or “Servicer Event of Default” (g) any change in each case as defined in the location of its place of business, of WEF Funding Facility) under the places where records concerning its Accounts are kept, or any new location or discontinuance of any place of businessWEF Funding Facility.

Appears in 1 contract

Sources: Credit Agreement (Willis Lease Finance Corp)

Notice of Events. Promptly upon discovery by the Borrower or any officer or manager of the Borrower occurrence of any one or more of the events described in subsections (a) through (g) belowfollowing events, the Borrower shall deliver provide telephonic notice to the Lender Administrative Agent (confirmed within three (3) days of the discovery a Business Days by written notice), which describes describing the event and all action actions the Borrower proposes to take with respect thereto: (a) an An Event of Default or Potential Default under this AgreementDefault; (b) any default or event of default under a contract or contracts and the default or event of default involves payments by one or more of the Borrower or the Parent which could reasonably be expected to result in an aggregate amount equal to or in excess of Twenty-Five Thousand Dollars ($25,000.00)a Material Adverse Effect; (c) a default or event of default under or as defined in any evidence of or agreements for Indebtedness for Borrowed Money under which the Borrower’s or the Parent’s liability is equal to or Debt on account of borrowed money in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) singularly or the Threshold Amount in the aggregate, whether or not an event of default thereunder has been declared by any party to the such agreement or any event which, upon the lapse of time or the giving of notice or both, would become an event of default under any such agreement or instrument or would permit any party to the any such instrument or agreement to terminate or suspend any commitment to lend to the Borrower or the Parent or to declare or to cause any of the indebtedness such Debt to be accelerated or payable before it would otherwise be due; (d) the institution of, any material adverse determination in, or the entry of any default judgment or order or stipulated judgment or order in, any suit, action, arbitration, administrative proceeding, criminal prosecution or governmental investigation against the Borrower or the Parent Borrower, which could reasonably be expected to result in which the amount in controversy is at least Twenty-Five Thousand and No/100 Dollars ($25,000.00) singularly or in the aggregatea Material Adverse Effect; (e) the occurrence of an ERISA Event; and (f) any change in any RegulationLaw, including, without limitation, changes in tax laws Laws and regulations, which could would reasonably have a material adverse impact on be expected to materially and adversely affect the Borrower’s ability of the Borrower to perform its obligations under the Loan Documents or a Material Adverse Effect; (f) the receipt of any notice from any governmental authority that the Borrower is disqualified, barred or suspended from bidding on or performing any contract or proposed contract; or (g) any change in the location of its place of business, of the places where records concerning its Accounts are kept, or any new location or discontinuance of any place of businessDocuments.

Appears in 1 contract

Sources: Credit and Security Agreement (Sachem Capital Corp.)

Notice of Events. Promptly upon discovery by the Borrower or any officer or manager of the Borrower of any of the events described in subsections (a) through (g) belowfollowing events, the Borrower Borrowers shall deliver provide telephone notice to the Lender Administrative Agent (confirmed within three (3) calendar days of by written notice from the discovery a written notice, which describes Borrowers to each Bank) describing the event and all action the Borrower proposes Borrowers propose to take with respect thereto: (a) an Event of Default or Potential Default under this AgreementAgreement or any other Loan Document; (b) any default or event of default under a contract or contracts and the default or event of default involves payments by one either or more of the Borrower or the Parent both Borrowers in an aggregate amount equal to or in excess of Twenty-Five Thousand Dollars ($25,000.00)1,000,000; (c) a default or event of default under or as defined in any evidence of or agreements for Indebtedness for Borrowed Money under which the Borrower’s either or the Parent’s both Borrowers' liability is equal to or in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) 1,000,000, singularly or in the aggregate, whether or not an event of default thereunder has been declared by any party to the such agreement or any event which, upon the lapse of time or the giving of notice or both, would become an event of default under any such agreement or instrument or would permit any party to the any such instrument or agreement to terminate or suspend any commitment to lend to the Borrower either or the Parent both Borrowers or to declare or to cause any of the such indebtedness to be accelerated or payable before it would otherwise be due; (d) the institution of, any material adverse determination in, or the entry of any default judgment or order or stipulated judgment or order in, any suit, action, arbitration, administrative proceeding, criminal prosecution or governmental investigation against the either Borrower or the Parent in which the amount in controversy is at least Twenty-Five Thousand and No/100 Dollars (in excess of $25,000.00) 1,000,000, singularly or in the aggregate;; or (e) any change in any Regulation, including, without limitation, changes in tax laws and regulations, which could reasonably would have a material adverse impact on the ability of the Borrower to perform its obligations under the Loan Documents or a Material Adverse Effect; (f) the receipt of any notice from any governmental authority that the Borrower is disqualified, barred or suspended from bidding on or performing any contract or proposed contract; or (g) any change in the location of its place of business, of the places where records concerning its Accounts are kept, or any new location or discontinuance of any place of business.

Appears in 1 contract

Sources: Credit Agreement (Willis Lease Finance Corp)

Notice of Events. Promptly upon discovery by the Borrower or any officer or manager of the Borrower of any of the events described in subsections (a) through (g) belowfollowing events, the Borrower H▇▇▇ Companies shall deliver provide telephone notice to the Lender Bank (confirmed within three (3) calendar days of the discovery a by written notice), which describes describing the event and all action the Borrower H▇▇▇ Companies proposes to take with respect thereto: (a) an Event of Default or Potential Default under this AgreementAgreement or any other Loan Document; (b) any default or event of default under a contract or contracts and the default or event of default involves payments by one or more of the Borrower or the Parent H▇▇▇ Companies in an aggregate amount equal to or in excess of Twenty-Five Thousand Dollars ($25,000.00)1,000,000; (c) a default or event of default under or as defined in any evidence of or agreements for Indebtedness for Borrowed Money under which the Borrower’s any H▇▇▇ Company's or the Parent’s its Subsidiaries' liability is equal to or in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) 1,000,000, singularly or in the aggregate, whether or not an event of default thereunder has been declared by any party to the such agreement or any event which, upon the lapse of time or the giving of notice or both, would become an event of default under any such agreement or instrument or would permit any party to the any such instrument or agreement to terminate or suspend any commitment to lend to the Borrower H▇▇▇ Companies or the Parent their Subsidiaries or to declare or to cause any of the such indebtedness to be accelerated or payable before it would otherwise be due; (d) the institution of, any material adverse determination in, or the entry of any default judgment or order or stipulated judgment or order in, any suit, action, arbitration, administrative proceeding, criminal prosecution or governmental investigation against the Borrower H▇▇▇ Companies or the Parent their Subsidiaries in which the amount in controversy is at least Twenty-Five Thousand and No/100 Dollars (in excess of $25,000.00) 1,000,000, singularly or in the aggregate;; or (e) any change in any Regulation, including, without limitation, changes in tax laws and regulations, which could reasonably would have a material adverse impact on the ability of the Borrower to perform its obligations under the Loan Documents or a Material Adverse Effect; (f) Effect on the receipt of any notice from any governmental authority that the Borrower is disqualified, barred or suspended from bidding on or performing any contract or proposed contract; or (g) any change in the location of its place of business, of the places where records concerning its Accounts are kept, H▇▇▇ Companies or any new location or discontinuance of any place of business.their Subsidiaries. Credit Agreement -25- November 1997

Appears in 1 contract

Sources: Credit Agreement (Sjit Inc)

Notice of Events. Promptly upon discovery by the Borrower or any officer or manager ---------------- of the Borrower of any of the events described in subsections Subsections (a) through (gf) belowhereof, the Borrower shall deliver to the Lender Agent telephone notice, and within three (3) calendar days of such telephone notice deliver to the discovery Agent a written notice, which describes the event and all action the Borrower proposes to take with respect thereto: (a) an Event of Default or Potential Default under this Agreement; (b) any default or event of default under a contract or contracts and the default or event of default involves payments by one or more of the Borrower or the Parent any Subsidiary in an aggregate amount equal to or in excess of Twenty-Five Thousand Dollars ($25,000.00)1,000,000; (c) a default or event of default under or as defined in any evidence of or agreements for Indebtedness for Borrowed Money under which the Borrower’s 's or the Parent’s any Subsidiary's liability is equal to or in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) 1,000,000 singularly or in the aggregate, whether or not an event of default thereunder has been declared by any party to the such agreement or any event which, upon the lapse of time or the giving of notice or both, would become an event of default under any such agreement or instrument or would permit any party to the any such instrument or agreement to terminate or suspend any commitment to lend to the Borrower or the Parent Subsidiaries or to declare or to cause any of the such indebtedness to be accelerated or payable before it would otherwise be due; (d) the institution of, any material adverse determination in, or the entry of any default judgment or order or stipulated judgment or order in, any suit, action, arbitration, administrative proceeding, criminal prosecution or governmental investigation against the Borrower or the Parent any Subsidiary in which the amount in controversy is at least Twenty-Five Thousand and No/100 Dollars (in excess of $25,000.00) 1,000,000 singularly or in the aggregate; (e) any change in any Regulation, including, without limitation, changes in tax laws and regulations, which could reasonably have a material adverse impact on the ability of the Borrower to perform its obligations under the Loan Documents or a Material Adverse Effect;material adverse effect on the business, operations, assets or condition (financial or otherwise) of Borrower and its Subsidiaries taken as a whole; or (f) the receipt of any notice from any governmental authority that the Borrower is disqualified, barred or suspended from bidding on or performing any contract or proposed contract; or (g) any change in the location of its place of business, of the places where records concerning its Accounts are kept, or any new location or discontinuance of any place of business.

Appears in 1 contract

Sources: Credit Agreement (Icf Kaiser International Inc)