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This excerpt taken from the IMKTA 8-K filed May 15, 2009. Notices. Promptly
notify the Administrative Agent and each Lender:
(a) of the
occurrence of any Default within five (5) Business Days of such
occurrence;
(b) 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 Contractual Obligation of the Borrower or any Subsidiary; (ii) any
dispute, litigation, investigation, proceeding or suspension between the
Borrower or any Subsidiary and any Governmental Authority; or (iii) the
commencement of, or any material development in, any litigation or proceeding
affecting the Borrower or any Subsidiary, including pursuant to any applicable
Environmental Laws;
(c) of the
occurrence of any ERISA Event; and
(d) of any
change in accounting policies or financial reporting practices by the Borrower
or any Subsidiary, including any determination by the Borrower referred to in
Section 2.10(b)
that could reasonably be expected to have a Material Adverse Effect or otherwise
have any material impact on the calculation of financial covenant compliance
hereunder.
Each
notice pursuant to this Section 6.03 shall be
accompanied by a statement of a Responsible Officer of the Borrower setting
forth details of the occurrence referred to therein and stating what action the
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.
6.04 |
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