Common use of Notices to Lender Clause in Contracts

Notices to Lender. Borrower shall notify Lender in writing: (1) promptly after Borrower learns thereof, of the commencement of any litigation affecting Borrower or any of its real or personal property, whether or not the claim is considered by Borrower to be covered by insurance, and of the institution of any administrative proceeding which may have a Material Adverse Effect; (2) at least 30 days prior thereto, of Borrower’s opening of any new office or place of business or Borrower’s closing of any existing office or place of business; (3) promptly after Borrower learns thereof, of any labor dispute to which Borrower may become a party, any strikes or walkouts relating to any of its plants or other facilities, and the expiration of any labor contract to which it is a party or by which it is bound; (4) promptly after Borrower learns thereof, of any material default by Borrower under any note, indenture, loan agreement, mortgage, lease, deed, guaranty or other similar agreement relating to any Indebtedness of Borrower exceeding $50,000; (5) promptly after the occurrence thereof, of any Unmatured Event of Default or Event of Default; (6) promptly after the occurrence thereof, of any default by any obligor under any note or other evidence of Indebtedness payable to Borrower; (7) promptly after the rendition thereof, of any judgment rendered against Borrower or any of its Subsidiaries; (8) promptly after Borrower learns thereof, of any material adverse finding of any state or federal government entity in connection with all or any part of the Collateral; and (9) promptly after becoming aware of (i) any event, situation, state of facts or other information that could reasonably be expected to result in a product recall with respect to any of Page 41 Borrower’s products, or (ii) any pending or proposed product alert that may be issued to Borrower’s customers or any consumers with respect to any of Borrower’s products.

Notices to Lender. Borrower shall notify Lender in writing: writing of the following matters at the following times: (1a) promptly Promptly after Borrower learns becoming aware thereof, any Event of Default or Potential Event of Default. (b) Promptly after becoming aware thereof, the commencement assertion by the holder of any litigation affecting Indebtedness in excess of $250,000, including Senior Lender, that a default exists with respect thereto or that Borrower is not in compliance with the terms thereof, or any of its real the threat or personal property, whether or not the claim is considered commencement by Borrower to be covered by insurance, and of the institution such holder of any administrative proceeding which may enforcement action because of such asserted default or non-compliance. (c) Promptly after becoming aware thereof, any event, occurrence or condition that is reasonably likely to have a Material Adverse Effect; . (2d) at least 30 days prior thereto, of Borrower’s opening of any new office or place of business or Borrower’s closing of any existing office or place of business; (3) promptly after Borrower learns thereof, of any labor dispute to which Borrower may become a party, any strikes or walkouts relating to any of its plants or other facilities, and the expiration of any labor contract to which it is a party or by which it is bound; (4) promptly after Borrower learns thereof, of any material default by Borrower under any note, indenture, loan agreement, mortgage, lease, deed, guaranty or other similar agreement relating to any Indebtedness of Borrower exceeding $50,000; (5) promptly after the occurrence thereof, of any Unmatured Event of Default or Event of Default; (6) promptly after the occurrence thereof, of any default by any obligor under any note or other evidence of Indebtedness payable to Borrower; (7) promptly after the rendition thereof, of any judgment rendered against Borrower or any of its Subsidiaries; (8) promptly after Borrower learns thereof, of any material adverse finding of any state or federal government entity in connection with all or any part of the Collateral; and (9) promptly Promptly after becoming aware of thereof, any pending or threatened action, suit, proceeding or counterclaim by any Person, or any pending or threatened investigation by any governmental authorities, which could result in a Material Adverse Effect. (ie) Promptly after becoming aware thereof, any eventpending or threatened strike, situationwork stoppage, state of facts material unfair labor practice claim or other information material labor dispute affecting Borrower that could reasonably be expected to result have a Material Adverse Effect. (f) Promptly after becoming aware thereof, any violation of any law, statute, regulation or ordinance of any governmental authority (including, without limitation, any Environmental and Safety Requirement) which could reasonably be expected to have a Material Adverse Effect. (A) Promptly and in a product recall any event within 5 days after receipt thereof by Borrower or any of its ERISA Affiliates, copies of each notice from the IRS relating to the disqualification of any Plan that is intended to be qualified under Section 401(a) of the Code; (B) promptly and in any event within 5 Business Days of the occurrence of the event, written notice of any event with respect to any Plan which could result in the incurrence by Borrower or any of Page 41 its ERISA Affiliates of any material liabilities, fine or penalty; (C) together with each copy of such notice received by Borrower or any of its ERISA Affiliates, a written statement of Borrower’s products's senior financial officer setting forth details as to all events referred to therein and the action with respect thereto taken, or (ii) proposed to be taken, by Borrower or its ERISA Affiliates, as applicable, and a copy of any pending notice, filing or proposed product alert that correspondence to or required by the IRS, the Department of Labor, or any government agency or adverse party as may be issued applicable. Each notice given under this Section 5.5 shall describe the subject matter thereof in reasonable detail and shall set forth the action that Borrower has taken or propose to Borrower’s customers or any consumers take with respect to any of Borrower’s productsthereto.

Notices to Lender. Borrower shall notify Lender in writing: (1) promptly after Borrower learns thereof, of the commencement of any litigation affecting Borrower or any of its real or personal property, whether or not the claim is considered by Borrower to be covered by insurance, and of the institution of any administrative proceeding which may have a Material Adverse Effect; (2) at least 30 thirty (30) days prior thereto, of Borrower’s opening of any new office or place of business or Borrower’s closing of any existing office or place of business; (3) promptly after Borrower learns thereof, of any labor dispute to which Borrower may become a party, any strikes or walkouts relating to any of its plants or other facilities, and the expiration of any labor contract to which it is a party or by which it is bound; (4) promptly after Borrower learns thereof, of any material default by Borrower under any note, indenture, loan agreement, mortgage, lease, deed, guaranty or other similar agreement relating to any Indebtedness of Borrower exceeding Ten Thousand and no/100 Dollars ($50,00010,000.00); (5) promptly after the occurrence thereof, of any Unmatured Event of Default or Event of Default; (6) promptly after the occurrence thereof, of any default by any obligor under any note or other evidence of Indebtedness payable to Borrower; (7) promptly after the rendition thereof, of any judgment rendered against Borrower or any of its Subsidiaries; (8) promptly after Borrower learns thereof, of any material adverse finding of any state or federal government entity in connection with all or any part of the Collateral; and (9) promptly after becoming aware of (i) any event, situation, state of facts or other information that could reasonably be expected to result in a product recall with respect to any of Page 41 Borrower’s products, or (ii) any pending or proposed product alert that may be issued to Borrower’s customers or any consumers with respect to any of Borrower’s products.and

Notices to Lender. Borrower shall notify Notify Lender in writing: (1i) promptly after Borrower learns Borrower's learning thereof, of the commencement of any litigation affecting Borrower or any of its real or personal propertyProperties, whether or not the claim is considered by Borrower to be covered by insurance, and of the institution of any administrative proceeding proceeding, and of the receipt of any order or citation from any federal, state or local agency which may have a Material Adverse Effectmaterially and adversely affect Borrower's operations, financial condition, Properties or business or Lender's Lien upon any of the Collateral; (2ii) at least 30 sixty (60) days prior thereto, of Borrower’s 's opening of any new office or place of business or Borrower’s 's closing of any existing office or place of business; (3iii) promptly after Borrower learns Borrower's learning thereof, of any labor dispute to which Borrower may become a party, any strikes or walkouts relating to any of its plants or other facilities, and the expiration of any labor contract to which it is a party or by which it is bound; (4iv) promptly after Borrower learns Borrower's learning thereof, of any material default by Borrower under any note, indenture, loan agreement, mortgage, lease, deed, guaranty or other similar agreement relating to any Indebtedness of Borrower exceeding Five Thousand Dollars ($50,0005,000); (5v) promptly after the occurrence thereof, of any Unmatured Event of Default or Event of Default; (6vi) promptly after the occurrence thereof, of any default by any obligor under any note or other evidence of Indebtedness payable to Borrower; and (7vii) promptly after the rendition thereof, of any judgment rendered against Borrower or any of its Subsidiaries; (8) promptly after Borrower learns thereof, of any material adverse finding of any state or federal government entity in connection with all or any part of the Collateral; and (9) promptly after becoming aware of (i) any event, situation, state of facts or other information that could reasonably be expected to result in a product recall with respect to any of Page 41 Borrower’s products, or (ii) any pending or proposed product alert that may be issued to Borrower’s customers or any consumers with respect to any of Borrower’s products.

Notices to Lender. Borrower shall notify Notify Lender in writing: (1i) promptly after Borrower learns Borrower's learning thereof, of the commencement of any litigation affecting Borrower or any of its real or personal propertyProperties, whether or not the claim is considered by Borrower to be covered by insurance, and of the institution of any administrative proceeding which may have a Material Adverse Effectmaterially and adversely affect Borrower's operations, financial condition, Properties or business or Lender's Lien upon any of the Collateral; (2ii) at least 30 sixty (60) days prior thereto, of Borrower’s 's opening of any new office or place of business or Borrower’s 's closing of any existing office or place of business; (3iii) promptly after Borrower learns Borrower's learning thereof, of any labor dispute to which Borrower may become a party, any strikes or walkouts relating to any of its plants or other facilities, and the expiration of any labor contract to which it is a party or by which it is bound; (4iv) promptly after Borrower learns Borrower's learning thereof, of any material default by Borrower under any note, indenture, loan agreement, mortgage, lease, deed, guaranty or other similar agreement relating to any Indebtedness of Borrower for Borrowed Money exceeding $50,000Two Hundred Fifty Thousand and No/100 Dollars ($ 250,000); (5v) promptly after the occurrence thereof, of any Unmatured Event of Default or Event of Default; (6vi) promptly after the occurrence thereof, of any default by any obligor under any note or other evidence of Indebtedness for Borrowed Money payable to Borrower; and (7vii) promptly after the rendition thereof, of any judgment rendered against Borrower or any of its Subsidiaries; (8) promptly after Borrower learns thereof, of any material adverse finding of any state or federal government entity in connection with all or any part of the Collateral; and (9) promptly after becoming aware of (i) any event, situation, state of facts or other information that could reasonably be expected to result in a product recall with respect to any of Page 41 Borrower’s products, or (ii) any pending or proposed product alert that may be issued to Borrower’s customers or any consumers with respect to any of Borrower’s products.

Notices to Lender. Borrower shall notify Lender in writing: (1) promptly after Borrower learns thereof, of the commencement of any litigation affecting Borrower or any of its real or personal property, whether or not the claim is considered by Borrower to be covered by insurance, and of the institution of any administrative proceeding which may have a Material Adverse Effectmaterially and adversely affect Borrower’s operations, financial condition, real or personal property or business or Lender’s Lien upon any of the Collateral; (2) at least 30 thirty (30) days prior thereto, of Borrower’s opening of any new office or place of business or Borrower’s closing of any existing office or place of business; (3) promptly after Borrower learns thereof, of any labor dispute to which Borrower may become a party, any strikes or walkouts relating to any of its plants or other facilities, and the expiration of any labor contract to which it is a party or by which it is bound; (4) promptly after Borrower learns thereof, of any material default by Borrower under any note, indenture, loan agreement, mortgage, lease, deed, guaranty or other similar agreement relating to any Indebtedness of Borrower exceeding Ten Thousand and no/100 Dollars ($50,00010,000.00); (5) promptly after the occurrence thereof, of any Unmatured Event of Default or Event of Default; (6) promptly after the occurrence thereof, of any default by any obligor under any note or other evidence of Indebtedness payable to Borrower; (7) promptly after the rendition thereof, of any judgment rendered against Borrower or any of its Subsidiaries; and (8) promptly after Borrower learns thereof, of any material adverse finding of any state or federal government entity in connection with all or any part of the Collateral; and (9) promptly after becoming aware of (i) any event, situation, state of facts or other information that could reasonably be expected to result in a product recall with respect to any of Page 41 Borrower’s products, or (ii) any pending or proposed product alert that may be issued to Borrower’s customers or any consumers with respect to any of Borrower’s products.

Notices to Lender. Each Borrower shall notify Lender in writing: : (1) promptly after any Borrower learns thereof, of the commencement of any litigation affecting a Borrower or any of its real or personal property, whether or not the claim is considered by such Borrower to be covered by insurance, and of the institution of any administrative proceeding which may have a Material Adverse Effect; materially and adversely affect such Borrower's operations, financial condition, real or personal property or business or Lender's Lien upon any of the Collateral; (2) at least 30 thirty (30) days prior thereto, of any Borrower’s 's opening of any new office or place of business or any Borrower’s 's closing of any existing office or place of business; (3) promptly after any Borrower learns thereof, of any labor dispute to which a Borrower may become a party, any strikes or walkouts relating to any of its plants or other facilities, and the expiration of any labor contract to which it is a party or by which it is bound; (4) promptly after any Borrower learns thereof, of any material default by a Borrower under any note, indenture, loan agreement, mortgage, lease, deed, guaranty or other similar agreement relating to any Indebtedness of such Borrower exceeding Fifty Thousand and no/100 Dollars ($50,00050,000.00); (5) promptly after the occurrence thereof, of any Unmatured Event of Default or Event of Default; (6) promptly after the occurrence thereof, of any default by any obligor under any note or other evidence of Indebtedness payable to a Borrower; (7) promptly after the rendition thereof, of any judgment rendered against a Borrower or any of its Subsidiaries; and (8) promptly after any Borrower learns thereof, of any material adverse finding of any state or federal government entity in connection with all or any part of the Collateral; and (9) promptly after becoming aware of (i) any event, situation, state of facts or other information that could reasonably be expected to result in a product recall with respect to any of Page 41 Borrower’s products, or (ii) any pending or proposed product alert that may be issued to Borrower’s customers or any consumers with respect to any of Borrower’s products.