Common use of Defaults; Events of Default Clause in Contracts

Defaults; Events of Default. As soon as practicable and in any event within five (5) days after a Responsible Officer of Borrower has actual knowledge of the occurrence of a Default or an Event of Default, a statement of a Responsible Officer of Borrower setting forth the details of such Default or Event of Default and the action that Borrower has taken and proposes to take with respect thereto;

Defaults; Events of Default. As soon as practicable and in any event within five (5) days after a Responsible Officer of Borrower has actual knowledge of the occurrence of a Default or an Event of Default, a statement of a Responsible Officer of Borrower setting forth the details of such Default or Event of Default and the action that Borrower has taken and proposes to take with respect thereto;