Notice of Material Proceedings. Promptly upon becoming aware thereof Borrower shall give Lender written notice of the commencement, existence or threat of any proceeding by or before any court or administrative agency against or affecting Borrower, any Guarantor or the Collateral which, if adversely decided, would have a material adverse effect on the business, operations or financial condition of Borrower or any Guarantor or on the ability of Borrower or any Guarantor to perform its obligations under this Agreement, the Note, the other Loan Documents or on the Collateral.
Appears in 3 contracts
Sources: Loan and Security Agreement (Bell Technology Group LTD), Loan and Security Agreement (Vista Gold Corp), Loan and Security Agreement (Equalnet Holding Corp)
Notice of Material Proceedings. Promptly upon becoming aware thereof Borrower shall give Lender written notice of the commencement, existence or threat of any proceeding by or before any court or administrative agency against or affecting Borrower, any Guarantor Borrower or the Collateral which, if adversely decided, would have a material adverse effect on the business, operations or financial condition of Borrower or any Guarantor or on the ability of Borrower or any Guarantor to perform its obligations under this Agreement, the Note, the other Loan Documents or on the Collateral.
Appears in 2 contracts
Sources: Loan and Security Agreement (Roadhouse Grill Inc), Loan and Security Agreement (Roadhouse Grill Inc)
Notice of Material Proceedings. Promptly upon becoming aware thereof Borrower shall give Lender Collateral Agent and Lenders written notice of the commencement, existence or threat of any proceeding by or before any court or administrative agency against or affecting Borrower, any Guarantor or the Collateral which, if adversely decided, would have a material adverse effect on the business, operations or financial condition of Borrower or any Guarantor or on the ability of Borrower or any Guarantor to perform its obligations under this Agreement, the Note, the other Loan Documents or on the Collateral.
Appears in 1 contract
Sources: Loan and Purchase Money Security Agreement (Mooney Aerospace Group LTD)
Notice of Material Proceedings. Promptly upon becoming aware thereof Borrower shall give Lender written notice of the commencement, existence or threat of any proceeding by or before any court or administrative agency against or affecting Borrower, any Guarantor or the Collateral which, if adversely decided, would have a material adverse effect on the business, operations or financial condition of Borrower or any Guarantor or on the ability of Borrower or any Guarantor to perform its obligations under this Agreement, the Note, Note or the other Loan Documents or on the Collateral.
Appears in 1 contract
Sources: Loan and Security Agreement (Showboat Marina Partnership)
Notice of Material Proceedings. Promptly upon becoming aware thereof Borrower shall give Lender written notice of the commencement, existence or threat of any proceeding by or before any court or administrative agency against or affecting Borrower, any Guarantor or the Collateral which, if adversely decided, would have a material adverse effect on the business, operations or financial condition of Borrower or any Guarantor or on the ability of Borrower or any Guarantor to perform its obligations under this Agreement, the Note, Note or the other Loan Documents or on the CollateralDocuments.
Appears in 1 contract