Notice to Lender. Borrower shall promptly (within three Business Days) notify Lender: # on the occurrence of any Event of Default; # of any fact, condition or event, that would be giving of notice or passage of time, or both, could become an Event of Default; # of any event causing a material loss or depreciation in the value of the Collateral and the amount of such loss or depreciation; # on the failure of any Obligor to observe its undertakings hereunder; # on the occurrence of a Material Adverse Change with respect to any Obligor.

Notice to Lender. Tenant shall provide Lender with notice of the breach or default by Landlord giving rise to same (the “Default Notice”) and, thereafter, the opportunity to cure such breach or default as provided for below.

Participation. The Committee shall from time to time select from the class of Eligible Employees those particular Eligible Employees who will participate in this Plan. Notwithstanding anything else contained herein to the contrary, the Committee shall limit the class of persons selected to participate in this Plan to a select group of management or highly compensated employees, as set forth in [Sections 201, 301 and 401]1]1] of ERISA. Participation shall commence upon the Committee making a Unit Award to a Participant.

Participation. All executive officers and certain other key employees of the Company are eligible to receive a bonus award pursuant to the 2020 Cash Incentive Program (each, an “Eligible Participant”). Each Eligible Participant selected by the Compensation Committee to receive a bonus award under the 2020 Cash Incentive Program is referred to herein as a “Participant.”

Participation. Participation in any such Revolving Facility Increase may be offered to each of the existing Lenders, but no Lender shall have any obligation to provide all or any portion of any such Revolving Facility Increase. The Borrowers may invite other banks, financial institutions and investment funds reasonably acceptable to the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed) to join this Credit Agreement as Lenders hereunder for any portion of such Revolving Facility Increase; provided that such other banks, financial institutions and investment funds shall enter into such lender joinder agreements to give effect thereto as the Administrative Agent may reasonably request.

Participation. Participation in any Revolving Facility Increase may be offered to each of the existing Lenders, but each such Lender shall have no obligation to provide all or any portion of such Revolving Facility Increase. The Company may invite other banks and financial institutions reasonably acceptable to the Agent (such consent not to be unreasonably withheld or delayed) to join this Agreement as Lenders hereunder for any portion of such Revolving Facility Increase; provided that such other banks and financial institutions shall enter into such joinder agreements to give effect thereto as the Agent may reasonably request.

Participation. The Committee shall from time to time select from the class of Eligible Employees those particular Eligible Employees who will participate in this Plan. Notwithstanding anything else contained herein to the contrary, the Committee shall limit the class of persons selected to participate in this Plan to a select group of management or highly compensated employees, as set forth in [Sections 201, 301 and 401]1]1] of ERISA. Participation shall commence upon the Committee making a Unit Award to a Participant.

Participation. Participant is not eligible for the short-term incentive program offered by the Company, but is eligible for the long-term incentive program.

No Eligible Employee will have the right to receive an Award under this Plan, or, having received any Award, to receive a future Award.

The participants in the EBR eligible for benefits shall be a select group of management or highly compensated employees of the Cooperative whose compensation exceeds the limits of Code § 401(a)(17) and/or whose benefit exceeds the limits of § 415, and who are designated in writing by the Board on any Addendum as participants, and who on the date of their attainment of the Normal Retirement Date, or upon such other date as the Board may designate, have a Pension Limitation, as defined in any Addendum to this EBR, applied to reduce the amount of payment that would otherwise be payable by a Qualified Plan sponsored by NRECA or directly by the Cooperative.