Notice of Litigation or Other Material Development Clause Samples

Notice of Litigation or Other Material Development. Within five (5) Business Days after any Responsible Officer of the Borrower obtains knowledge of: (i) any condition or event that constitutes an Event of Default or, to the knowledge of the president, chief executive officer or chief financial officer of the general partner of the Borrower, a Default; (ii) any litigation, or any investigation or proceeding by any Governmental Authority, that (A) alleges any criminal conduct on the part of any of the Companies or any of their respective general partners, trustees, directors, officers, employees or agents in their capacity as such, (B) alleges any material violation by any of the Companies of any Hazardous Materials Law or (C) involves a claim against any of the Companies that arises other than in the ordinary course of business, as to which the insurance carrier has denied coverage or that is not covered by insurance and that seeks damages in an amount which, individually, or when aggregated with all other such claims not theretofore reported to the Senior Lender, is greater than or equal to $500,000; (iii) any other investigation of, or proceeding against, the Companies or any of them by any Governmental Authority, or any other litigation against the Companies that, in the reasonable business judgment of the Borrower, is likely to result in a Material Adverse Change; (iv) any material labor controversy resulting in or threatening to result in a strike against any of the Companies; (v) the adoption or termination by any Company of any Plan as defined by the Code or the occurrence of any "reportable event" as defined in ERISA as to any Plan of any Company; (vi) any written proposal by any Governmental Authority to acquire any Hotel Property or any material portion thereof, or any other material written communication, notice, order or report furnished, other than in the ordinary course of business, by any of the Companies to, or received by any of the Companies, other than in the ordinary course of business from the PBGC, the Department of Labor or any other Governmental Authority having jurisdiction over any of the Companies or their Assets; (vii) any change in the composition of the Board of Trustees of SLT, the Board of Directors of SLC or the executive officers of the general partner of the Borrower or the managing general partner of the Operating Partnership; or (viii) any Person's seeking to obtain or threatening in writing to seek to obtain a decree or order for relief with respect to the Borrower or a...
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Related to Notice of Litigation or Other Material Development

  • Notice of Legal Matter or Litigation Grantee will send notice to the Substance Use Disorder (SUD) email box, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇.▇▇ of any litigation or legal matter related to or affecting this Contract within seven (7) calendar days of becoming aware of the litigation or legal matter.

  • Notice of Litigation Each Purchaser shall promptly notify the applicable Seller upon becoming aware of any Proceedings or threatened Proceedings concerning any Serviced Appointment (whether or not the Sellers are named in such Proceedings), in each case, excluding Proceedings in servicer-managed mortgage-level litigation with respect to residential mortgage-backed securities transactions. Notices pursuant to this Section 6.4 will be delivered to the notice recipient designated on Annex B.

  • Return of material containing or pertaining to the Confidential Information 7.1 The Disclosing Party may, at any time, and in its sole discretion request the Receiving Party to return any material and/or data in whatever form containing, pertaining to or relating to Confidential Information disclosed pursuant to the terms of this Agreement and may, in addition request the Receiving Party to furnish a written statement to the effect that, upon such return, the Receiving Party has not retained in its possession, or under its control, either directly or indirectly, any such material and/or data. 7.2 If it is not practically able to do so, the Receiving Party shall destroy or ensure the destruction of all material and/or data in whatever form relating to the Confidential Information disclosed pursuant to the terms of this Agreement and delete, remove or erase or use best efforts to ensure the deletion, erasure or removal from any computer or database or document retrieval system under its or the Representatives' possession or control, all Confidential Information and all documents or files containing or reflecting any Confidential Information, in a manner that makes the deleted, removed or erased data permanently irrecoverable.The Receiving Party shall furnish the Disclosing Party with a written statement signed by one of its directors or duly authorized senior officers to the effect that all such material has been destroyed. 7.3 The Receiving Party shall comply with any request by the Disclosing Party in terms of this clause, within 7 (seven) business days of receipt of any such request.

  • Assistance in Litigation or Administrative Proceedings Business Associate shall make itself and any subcontractors, employees or agents assisting Business Associate in the performance of its obligations under this Agreement, available to County at no cost to County to testify as witnesses, or otherwise, in the event of litigation or administrative proceedings being commenced against County, its Directors, Managers or employees based upon claimed violation of HIPAA, the HIPAA regulations or other laws relating to security and privacy, which involves inactions or actions by the Business Associate, except where Business Associate or its subcontractor, employee or agent is a named adverse party.

  • Notice of Legal Actions The Contractor must notify the Department of any legal actions filed against it for a violation of any laws, rules, codes, ordinances or licensing requirements within 30 days of the action being filed. The Contractor must notify the Department of any legal actions filed against it for a breach of a contract of similar size and scope to this Contract within 30 days of the action being filed. Failure to notify the Department of a legal action within 30 days of the action will be grounds for termination for cause of the Contract.