Common use of Notification of Claim against Collateral Clause in Contracts

Notification of Claim against Collateral. The Borrower will, immediately upon becoming aware thereof, notify the Agent and each of the Banks in writing of any setoff, claims (including with respect to the Real Estate, environmental claims), withholdings or other defenses to which any of the Collateral, or the Agent's rights with respect to the Collateral, are subject, if such setoff, claims, withholdings or defenses could reasonably be expected to have a material adverse effect in the assets, business or financial condition of the Borrower or the Borrower and its Subsidiaries taken as a whole or the Agent's rights with respect to the Collateral.