Common use of Notices of Claims and Litigation Clause in Contracts

Notices of Claims and Litigation. Promptly inform Lender in writing of (1) all material adverse changes in their respective financial conditions, and (2) all existing and all written threats of litigation, as well as all claims, investigations, administrative proceedings or similar actions affecting them which could materially affect their respective financial conditions.

Notices of Claims and Litigation. Promptly inform Lender in writing of (1) all material adverse changes in their respective financial conditionscondition, and (2) all existing and all written threats of threatened in writing litigation, as well as all claims, investigations, administrative proceedings or similar actions affecting them Borrowers which could materially affect their respective the financial conditionscondition of any of Borrowers.