Common use of Notification to Trustee Clause in Contracts

Notification to Trustee. The Borrower shall notify the Trustee in writing promptly, but in any event within five Business Days, of the occurrence of any of the following, with respect to the Borrower: (a) any levy of an attachment, execution or other process against its assets, which may materially adversely affect the financial condition or operation of the Borrower; (b) any change in any existing agreement or contract which may materially adversely affect its business or affairs, financial or otherwise; and (c) any change in the ownership or control of the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Genlyte Group Inc)

Notification to Trustee. The Borrower shall notify the Trustee in writing promptly, but in any event within five Business Days, of the occurrence of any of the following, with respect to the Borrower: (ai) any levy of an attachment, execution or other process against its assets, which may materially adversely affect the financial condition or operation of the Borrower; (bii) any change in any existing agreement or contract which may materially adversely affect its business or affairs, financial or otherwise; and (ciii) any change in the ownership or control of the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Medical Action Industries Inc)