Common use of Events of Default Under the Reimbursement, Security and Guaranty Agreement Clause in Contracts

Events of Default Under the Reimbursement, Security and Guaranty Agreement. Upon the Custodian’s receipt from the Collateral Agent or the Purchase Money Notes Guarantor of written notice at its Office that an Event of Default under the Reimbursement, Security and Guaranty Agreement (and as defined therein) has occurred and is continuing, the Custodian promptly shall notify the Collateral Agent in writing and seek instructions from (and take instructions only from) the Collateral Agent as to any action to be taken by the Custodian hereunder.

Events of Default Under the Reimbursement, Security and Guaranty Agreement. Upon the Custodian’s receipt from the Collateral Agent or the Purchase Money Notes Guarantor of written notice at its Office that an Event of Default under the Reimbursement, Security and Guaranty Agreement (and as defined therein) has occurred and is continuing, or to the extent it has actual knowledge of the occurrence of such an Event of Default, the Custodian promptly shall notify the Collateral Agent in writing and seek instructions from (and take instructions only from) the Collateral Agent as to any action to be taken by the Custodian hereunder.