Common use of Borrowers Default Clause in Contracts

Borrowers Default. In the event that (i) the Borrowers fail to pay when due the principal of or interest on any Revolving Credit Notes, Revolving Credit Loan or any Reimbursement Obligation or any amount payable hereunder, or (ii) the Agent receives written notice of the occurrence of an Event of Default, the Agent shall promptly give written notice thereof to the Lenders, and the Agent shall take such action with respect to such Event of Default as it shall be directed to take by the Required Lenders; provided, however, that, unless and until the Agent shall have received such directions and except as otherwise expressly provided in this Agreement, the Agent may take such action or refrain from taking such action hereunder or under the other Loan Documents with respect to an Event of Default or Default, as it shall deem advisable in the best interest of the Lenders.

Borrowers Default. In the event that (i) the Borrowers fail Borrower fails to pay when due the principal of or interest on any Revolving Credit Notes, Revolving Credit Loan or any Reimbursement Obligation or any amount payable hereunder, or (ii) the Agent receives written notice of the occurrence of an Event of Default, the Agent shall promptly give written notice thereof to the Lenders, and the Agent shall take such action with respect to such Event of Default as it shall be directed to take by the Required Lenders; provided, however, that, unless and until the Agent shall have received such directions and except as otherwise expressly provided in this Agreement, the Agent may take such action or refrain from taking such action hereunder or under the other Loan Documents with respect to an Event of Default or Default, as it shall deem advisable in the best interest of the Lenders.

Borrowers Default. In the event that (i) the Borrowers fail Borrower fails to pay when due the principal of or interest on any Revolving Credit Notes, Revolving Credit Loan Note or any Reimbursement Obligation or any other amount payable hereunder, or (ii) the Agent receives written notice of the occurrence of an Event of Default, the Agent shall promptly give written notice thereof to the Lenders, and the Agent shall take such action with respect to such Event of Default as it shall be directed to take by the Required Lenders; provided, however, that, unless and until the Agent shall have received such directions and except as otherwise expressly provided in this Agreement, the Agent may take such action or refrain from taking such action hereunder or under the other Loan Documents with respect to an Event of Default or Default, as it shall deem advisable in the best interest of the Lenders.

Borrowers Default. In the event that (i) the Borrowers fail any Borrower ------------------ fails to pay when due the principal of or interest on any Revolving Credit Notes, Revolving Credit Loan Note or any Reimbursement Obligation or any amount fee payable hereunder, or (ii) the Agent receives written notice of the occurrence of an Event of Default, the Agent shall promptly give written notice thereof to the Lenders, and the Agent shall take such action with respect to such Event of Default as it shall be directed to take by the Required Lenders; provided, however, that, unless and until the Agent -------- ------- shall have received such directions and except as otherwise expressly provided in this Agreementdirections, the Agent may take such action or refrain from taking such action hereunder or under the other Loan Documents with respect to an Event of Default Default, or Potential Default, as it shall deem advisable in the best interest of the Lenders.

Borrowers Default. In the event that (i) the Borrowers fail any Borrower ------------------ fails to pay when due the principal of or interest on any Revolving Credit Notes, Revolving Credit Loan Note or any Reimbursement Obligation or any other amount payable hereunder, or (ii) the Administrative Agent receives written notice of the occurrence of an Event of Default, the Administrative Agent shall promptly give written notice thereof to the Lenders, and the Agent shall take such action with respect to such Event of Default as it shall be directed to take by the Required Lenders; provided, however, that, -------- ------- unless and until the Administrative Agent shall have received such directions and except as otherwise expressly provided in this Agreement, the Administrative Agent may take such action or refrain from taking such action hereunder or under the other Loan Documents with respect to an Event of Default or Default, as it shall deem advisable in the best interest of the Lenders.

Borrowers Default. In the event that (i) the Borrowers fail any Borrower fails to pay when due the principal of or interest on any Revolving Credit Notes, Revolving Credit Loan Note or any Reimbursement Obligation or any other amount payable hereunder, or (ii) the Administrative Agent receives written notice of the occurrence of an Event of Default, the Administrative Agent shall promptly give written notice thereof to the Lenders, and the Agent shall take such action with respect to such Event of Default as it shall be directed to take by the Required Lenders; provided, however, that, unless and until the Administrative Agent shall have received such directions and except as otherwise expressly provided in this Agreement, the Administrative Agent may take such action or refrain from taking such action hereunder or under the other Loan Documents with respect to an Event of Default or Default, as it shall deem advisable in the best interest of the Lenders.

Borrowers Default. In the event that (i) the Borrowers fail any Borrower ------------------ fails to pay when due the principal of or interest on any Revolving Credit Notes, Revolving Credit Loan Note or any Reimbursement Obligation or any other amount payable hereunder, or (ii) the Administrative Agent receives written notice of the occurrence of an Event of Default, the Administrative Agent shall promptly give written notice thereof to the Lenders, and the Agent shall take such action with respect to such Event of Default as it shall be directed to take by the Required Lenders; provided, however, that, unless and until the Administrative Agent -------- ------- shall have received such directions and except as otherwise expressly provided in this Agreement, the Administrative Agent may take such action or refrain from taking such action hereunder or under the other Loan Documents with respect to an Event of Default or Default, as it shall deem advisable in the best interest of the Lenders.

Borrowers Default. In the event that (i) the Borrowers fail Borrower fails to pay when due the principal of or interest on any Revolving Credit Notes, Revolving Credit Loan Notes or any Reimbursement Obligation or any amount payable hereunder, or (ii) the Agent receives written notice of the occurrence of an Event of Default, the Agent shall promptly give written notice thereof to the Lenders, and the Agent shall take such action with respect to such Event of Default as it shall be directed to take by the Required Lenders; provided, however, that, unless and until the Agent shall have received such directions and except as otherwise expressly provided in this Agreement, the Agent may take such action or refrain from taking such action hereunder or under the other Loan Documents with respect to an Event of Default or Default, as it shall deem advisable in the best interest of the Lenders.

Borrowers Default. In the event that (i) the any Borrowers fail to pay when due the principal of or interest on any Revolving Credit Notes, Revolving Credit Loan Note or any Reimbursement Obligation or any amount payable hereunder, or (ii) the Agent receives written notice of the occurrence of an Event of Default, the Agent shall promptly give written notice thereof to the Lenders, and the Agent shall take such action with respect to such Event of Default as it shall be directed to take by the Required Lenders; provided, however, that, unless and until the Agent shall have received such directions and except as otherwise expressly provided in this Agreement, the Agent may take such action or refrain from taking such action hereunder or under the other Loan Documents with respect to an Event of Default or Default, as it shall deem advisable in the best interest of the Lenders.