Common use of Event of Default; Notice Clause in Contracts

Event of Default; Notice. (a) The Guarantee Trustee shall, within ninety (90) days after the occurrence of a default, transmit to the Holders notices of all defaults actually known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determine that the withholding of such notice is in the interests of the Holders. For the purpose of this Section 2.4, the term “default” means any event that is, or after notice or lapse of time or both would become, an Event of Default.

Appears in 27 contracts

Samples: Guarantee Agreement (Paragon Commercial CORP), Guarantee Agreement (Wilshire Bancorp Inc), Guarantee Agreement (Huntington Bancshares Inc/Md)

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Event of Default; Notice. (a) The Guarantee Trustee shall, within ninety (90) days after the occurrence of a default, transmit to the Holders notices of all defaults actually known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determine that the withholding of such notice is in the interests of the Holders. For the purpose of this Section 2.4, the term "default" means any event that is, or after notice or lapse of time or both would become, an Event of Default.

Appears in 13 contracts

Samples: Guarantee Agreement (Matrix Bancorp Inc), Guarantee Agreement (Local Financial Corp /Nv), Guarantee Agreement (First Litchfield Financial Corp)

Event of Default; Notice. (a) The Guarantee Trustee shall, within ninety (90) days after the occurrence of a default, transmit to the Holders notices of all defaults actually known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, ; provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determine that the withholding of such notice is in the interests of the Holders. For the purpose of this Section 2.4, the term "default" means any event that is, or after notice or lapse of time or both would become, an Event of Default.

Appears in 7 contracts

Samples: Guarantee Agreement (State National Bancshares, Inc.), Guarantee Agreement (Meadowbrook Insurance Group Inc), Guarantee Agreement (Southcoast Financial Corp)

Event of Default; Notice. (a) The Guarantee Trustee shall, within ninety (90) 90 days after the occurrence of a defaultan Event of Default, transmit by mail, first class postage prepaid, to the Holders Holders, notices of all defaults Events of Default actually known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors the Board of Directors and/or Responsible Officers of the Guarantee Trustee in good faith determine determines that the withholding of such notice is in the interests of the Holders. For the purpose of this Section 2.4, the term “default” means any event that is, or after notice or lapse of time or both would become, an Event of Default.

Appears in 5 contracts

Samples: Guarantee Agreement (First Tennessee Capital Iv), Guarantee Agreement (First Tennessee Capital Iv), Guarantee Agreement (First Tennessee National Corp)

Event of Default; Notice. (a) The Guarantee Trustee shall, within ninety (90) 90 days after the occurrence of a defaultan Event of Default, transmit by mail, first class postage prepaid, to the Holders Holders, notices of all defaults actually Events of Default known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determine determines that the withholding of such notice is in the interests of the Holders. For the purpose of this Section 2.4, the term “default” means any event that is, or after notice or lapse of time or both would become, an Event of Default.

Appears in 3 contracts

Samples: Guarantee Agreement (Nevada Power Co), Guarantee Agreement (Southwestern Electric Power Co), Guarantee Agreement (Central Power & Light Co /Tx/)

Event of Default; Notice. (a) The Guarantee Trustee shall, within ninety (90) 90 days after the occurrence of a defaultan Event of Default, transmit by mail, first class postage prepaid, to the Holders Holders, notices of all defaults actually Events of Default known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, ,provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determine determines that the withholding of such notice is in the interests of the Holders. For the purpose of this Section 2.4, the term “default” means any event that is, or after notice or lapse of time or both would become, an Event of Default.

Appears in 3 contracts

Samples: Guarantee Agreement (Lincoln National Capital Vi), Guarantee Agreement (Lincoln National Capital Vi), Guarantee Agreement (Lincoln National Capital Vi)

Event of Default; Notice. (a) The Guarantee Trustee shall, within ninety (90) days after the occurrence of a default, transmit to the Holders notices of all defaults actually known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determine that the withholding of such notice is in the interests of the Holders. For the purpose of this Section 2.4, the term “default” means any event that is, or after notice or lapse of time or both would become, an Event of Default.

Appears in 3 contracts

Samples: Guarantee Agreement (United Bancorporation of Alabama Inc), Guarantee Agreement (Coastal Banking Co Inc), Guarantee Agreement (Arrow Financial Corp)

Event of Default; Notice. (a) The Guarantee Trustee shall, within ninety (90) days after the occurrence of a default, transmit to the Holders notices of all defaults actually known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, ; provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determine that the withholding of such notice is in the interests of the Holders. For the purpose of this Section 2.4, the term “default” means any event that is, or after notice or lapse of time or both would become, an Event of Default.

Appears in 3 contracts

Samples: Guarantee Agreement (Pacific Crest Capital Inc), Guarantee Agreement (American Safety Insurance Holdings LTD), Guarantee Agreement (Pacific Crest Capital Inc)

Event of Default; Notice. (a) The Guarantee Trustee shall, within ninety (90) 90 days after the occurrence of a default, transmit to the Holders Holders, notices of all defaults actually known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, provided, that, that except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determine determines that the withholding of such notice is in the interests of the Holders. For the purpose of this Section 2.4Section, the term "default" means any event that is, or after notice or lapse of time or both would become, an Event of Default.

Appears in 2 contracts

Samples: Guarantee Agreement (Bnccorp Inc), Guarantee Agreement (Vib Corp)

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Event of Default; Notice. (a) The Guarantee Trustee shall, within ninety (90) days after the occurrence of a default, transmit to the Holders notices of all defaults actually known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board board of Directorsdirectors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determine that the withholding of such notice is in the interests of the Holders. For the purpose of this Section 2.4, the term “default” means any event that is, or after notice or lapse of time or both would become, an Event of Default.

Appears in 2 contracts

Samples: Guarantee Agreement (First Acceptance Corp /De/), Guarantee Agreement (First Acceptance Corp /De/)

Event of Default; Notice. (a) The Guarantee Trustee shall, within ninety (90) days after the occurrence of a default, transmit to the Holders notices of all defaults actually known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determine that the withholding of such notice is in the interests of the Holders. For the purpose of this Section 2.4, . the term "default" means any event that is, or after notice or lapse of time or both would become, an Event of Default.

Appears in 1 contract

Samples: Guarantee Agreement (Hanmi Financial Corp)

Event of Default; Notice. (a) The Guarantee Trustee shall, within ninety (90) days after the occurrence of a default, transmit to the Holders notices of all defaults actually known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determine that the withholding of such notice is in the interests of the Holders. For the purpose of this Section 2.4, the term “default” means any event that is, or after notice or lapse of time or both would become, an Event of Default.

Appears in 1 contract

Samples: Guarantee Agreement (Valley Financial Corp /Va/)

Event of Default; Notice. (a) The Guarantee Trustee shall, within ninety (90) 90 days after the occurrence of a defaultan Event of Default, transmit to the Holders Holders, notices of all defaults Events of Default actually known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determine determines that the withholding of such notice is in the interests of the Holders. For the purpose of this Section 2.4, the term “default” means any event that is, or after notice or lapse of time or both would become, an Event of Default.

Appears in 1 contract

Samples: Guarantee Agreement (Harleysville Group Inc)

Event of Default; Notice. (a) The Guarantee Trustee shall, within ninety (90) days after the occurrence of a default, transmit to the Holders notices of all defaults actually known to the Guarantee Trustee, unless such defaults have been cured or waived before the giving of such notice, providedPROVIDED, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determine that the withholding of such notice is in the interests of the Holders. For the purpose of this Section SECTION 2.4, the term “default” "DEFAULT" means any event that is, or after notice or lapse of time or both would become, an Event of Default.

Appears in 1 contract

Samples: Guarantee Agreement (San Joaquin Bancorp)

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