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This excerpt taken from the BKS 8-K filed Oct 1, 2009. Notices. Promptly, unless expressly indicated
otherwise, notify the Administrative Agent:
(a) of
the occurrence of (i) any Specified Default and (ii) upon a Responsible Officer
obtaining actual knowledge thereof, any Default other than a Specified
Default;
(b) immediately
upon obtaining actual knowledge thereof, any other Trigger Event or Fixed Charge
Trigger Event;
(c) of
any matter that has resulted or could reasonably be expected to result in a
Material Adverse Effect, including (i) breach or non-performance of, or any
default under, a Material Contract or with respect to Material Indebtedness of
any Loan Party or any Subsidiary thereof; (ii) any material dispute, litigation,
investigation, proceeding or suspension between any Loan Party or any Subsidiary
thereof and any Governmental Authority; or (iii) the commencement of, or any
material development in, any material litigation or proceeding affecting any
Loan Party or any Subsidiary thereof, including pursuant to any applicable
Environmental Laws;
(d)
of
the occurrence of any ERISA Event;
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(f) any
material change in accounting policies or financial reporting practices by any
Loan Party or any Subsidiary thereof;
(g) of
the Public Accountants’ determination (in connection with its preparation of its
report under Section
6.01(a))or the Lead Borrower's determination of the occurrence or
existence of any Internal Control Event ;
(h)
of
the formation or acquisition of any Subsidiary;
(i) of
any change in the name, corporate form or state of organization of any Loan
Party or any change in the name or names under which any Loan Party’s Business
is transacted
(j) immediately
upon receipt of notice thereof, of the filing of any Lien against any Loan Party
for unpaid Taxes against any material portion of the Collateral;
(k) of
any casualty or other insured damage to any material portion of the Collateral
or the commencement of any action or proceeding for the taking of any interest
in a material portion of the Collateral under power of eminent domain or by
condemnation or similar proceeding or if any material portion of the Collateral
is damaged or destroyed; and
(l) of
any notice of any material non-compliance with applicable Laws with respect to
any “Property” (as defined in any Mortgages relating to Eligible Real Estate)
which it receives or any pending proceedings in respect thereof.
Each
notice pursuant to this Section 6.03 shall be
accompanied by a statement of a Responsible Officer of the Lead Borrower setting
forth details of the occurrence referred to therein and stating what action the
Lead Borrower has taken and proposes to take with respect thereto. Each notice
pursuant to Section 6.03(a) shall
describe with particularity any and all provisions of this Agreement and any
other Loan Document that
have been breached.
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