Common use of Required Notifications Clause in Contracts

Required Notifications. Each Grantor shall promptly notify the Administrative Agent, in writing, of: (i) any Lien (other than Permitted Liens) on any of the Collateral which would adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder and (ii) the occurrence of any other event which could reasonably be expected to have a material impairment on the aggregate value of the Collateral or on the security interests created hereby.

Appears in 10 contracts

Sources: Security and Pledge Agreement (Agilysys Inc), Security and Pledge Agreement (Bowman Consulting Group Ltd.), Security and Pledge Agreement (Babcock & Wilcox Enterprises, Inc.)

Required Notifications. Each Grantor shall promptly (upon becoming aware) notify the Administrative Agent, in writing, of: (i) of any Lien (other than Permitted LiensEncumbrances) on any of the Collateral which would adversely affect materially impair the ability of the Administrative Agent to exercise any of its remedies hereunder and (ii) the occurrence of any other event which could reasonably be expected to have a material impairment on the aggregate value of the Collateral or on the security interests created herebyhereunder.

Appears in 3 contracts

Sources: Security and Pledge Agreement (TopBuild Corp), Security and Pledge Agreement (TopBuild Corp), Security and Pledge Agreement (TopBuild Corp)

Required Notifications. Each Grantor shall promptly notify the Administrative Agent, in writing, of: (i) any Lien (other than Permitted Liens) on any of the Collateral which would adversely affect the ability of the Administrative Agent to exercise any of its remedies 4862-1549-8294, v. 6 ACTIVE/119444361.4 hereunder and (ii) the occurrence of any other event which could reasonably be expected to have a material impairment on the aggregate value of the Collateral or on the security interests created hereby.

Appears in 1 contract

Sources: Security and Pledge Agreement (Irobot Corp)

Required Notifications. Each Grantor shall promptly upon becoming aware of the same, notify the Administrative Agent, in writing, of: (i) any Lien (other than Permitted Liens) on any of the Collateral which would adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder and (ii) the occurrence of any other event which could reasonably be expected to have a material impairment on the aggregate value of the Collateral or on the security interests created hereby.

Appears in 1 contract

Sources: Security and Pledge Agreement (Movado Group Inc)

Required Notifications. Each Grantor shall promptly Promptly notify the Administrative Agent, in writing, of: (i) any Lien (other than Permitted Liens) on any of the Collateral which would adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder and (ii) the occurrence of any other event which could reasonably be expected to have a material impairment on the aggregate value of the Collateral or on the security interests created hereby.

Appears in 1 contract

Sources: Security and Pledge Agreement (Usana Health Sciences Inc)

Required Notifications. Each Grantor shall promptly notify the Administrative Agent, in writing, of: (i) any Lien (other than Permitted Liens) on any of the Collateral which would materially adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder and (ii) the occurrence of any other event which could reasonably be expected to have a material impairment on the aggregate value of the Collateral or on the security interests created hereby.

Appears in 1 contract

Sources: Security Agreement (Monster Worldwide, Inc.)

Required Notifications. Each Grantor shall promptly notify the Administrative Agent, in writing, of: of (i) any Lien (other than Permitted Liens) on any of the Collateral which would adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder and Collateral, (ii) the occurrence of any other event which could reasonably be expected to have a material impairment on the aggregate value of the Collateral or on the security interests created herebyhereby and (iii) any Collateral which, to the knowledge of such Grantor, constitutes a Government Contract.

Appears in 1 contract

Sources: Security and Pledge Agreement (Nutri System Inc /De/)

Required Notifications. Each Grantor shall promptly notify the Administrative Agent, in writing, of: (i) any Lien (other than Permitted LiensEncumbrances) on any of the Collateral which would adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder and (ii) the occurrence of any other event which could reasonably be expected to have a material impairment on the aggregate value of the Collateral or on the security interests created hereby.

Appears in 1 contract

Sources: Security Agreement (Scholastic Corp)

Required Notifications. Each Grantor shall promptly Promptly notify the Administrative Agent, in writing, of: (i) any Lien (other than Permitted Collateral Liens) on any of the Collateral which would adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder and (ii) the occurrence of any other event which could reasonably be expected to have a material impairment on the aggregate value of the Collateral or on the security interests created hereby.

Appears in 1 contract

Sources: Credit Agreement (Equinix Inc)

Required Notifications. Each The Grantor shall promptly notify the Administrative Agent, in writing, of: (i) any Lien (other than Permitted Liens) on any of the Collateral which would adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder and (ii) the occurrence of any other event which could reasonably be expected to have a material impairment on the aggregate value of the Collateral or on the security interests created hereby.

Appears in 1 contract

Sources: Security and Pledge Agreement (Fabrinet)

Required Notifications. Each Grantor shall promptly notify the Administrative Agent, in writing, of: (ia) any Lien (other than Permitted Liensthe Security Interests or Liens permitted pursuant to Section 6.02 of the Credit Agreement) on any of the Collateral which would adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder and hereunder, (iib) the occurrence of any other event which could reasonably be expected to have a material impairment Material Adverse Effect on the aggregate value of the Collateral or on the security interests created hereby.Security Interests,

Appears in 1 contract

Sources: Credit Agreement (Geo Group Inc)

Required Notifications. Each Grantor shall promptly notify the Administrative Agent, in writing, of: (i) any Lien (other than Permitted Liens) on any of the Collateral which would adversely affect in a material manner the ability of the Administrative Agent to exercise any of its remedies hereunder and (ii) the occurrence of any other event which could reasonably be expected to have a material impairment on the aggregate value of the Collateral or on the security interests created hereby.

Appears in 1 contract

Sources: Security and Pledge Agreement (1847 Goedeker Inc.)