Common use of Assumption re Event of Default Clause in Contracts

Assumption re Event of Default. The Lenders shall be entitled to assume that no Event of Default or Default has occurred and is continuing, unless the Lenders have been notified by a Borrower of such fact. In the event that any Lender shall have been notified, in the manner set forth in the preceding sentence, by a Borrower of any Event of Default or Default, such Lender shall promptly notify the Facility Agent in writing, and the Majority Lenders may take action and assert such rights under this Agreement or under any other Transaction Document or as provided for under applicable law as they determine are appropriate.

Assumption re Event of Default. The Lenders Creditors shall be entitled to assume that no Event of Default or Default has occurred and is continuing, unless the Lenders Creditors have been notified by a the Borrower of such fact. In the event that any Lender Creditor shall have been notified, in the manner set forth in the preceding sentence, by a the Borrower of any Event of Default or Default, such Lender Creditor shall promptly notify the Facility Agent in writing, and the Majority Lenders may take action and assert such rights under this Agreement or under any other Transaction Document or as provided for under applicable law as they determine are appropriate.

Assumption re Event of Default. The Lenders Creditors shall be entitled to assume that no Event of Default or Default has occurred and is continuing, unless the Lenders Creditors have been notified by a Borrower the Borrowers of such fact. In the event that any Lender Creditor shall have been notified, in the manner set forth in the preceding sentence, by a Borrower the Borrowers of any Event of Default or Default, such Lender Creditor shall promptly notify the Facility Agent in writing, and the Majority Lenders may take action and assert such rights under this Agreement or under any other Transaction Document or as provided for under applicable law as they determine are appropriate.

Assumption re Event of Default. The Lenders shall be entitled to assume that no Event of Default or Default has occurred and is continuing, unless the Lenders have been notified by a Borrower of such fact. In the event that any Lender shall have been notified, in the manner set forth in the preceding sentence, by a Borrower of any Event of Default or Default, such Lender shall promptly notify the Facility Agent in writing, and the Majority Lenders may take action and assert such rights under this Agreement or under any other Transaction Document or as provided for under applicable law as they determine are appropriate.. 18.9