Common use of Guarantee Event of Default; Notice Clause in Contracts

Guarantee Event of Default; Notice. (a) If a Guarantee Event of Default occurs and is continuing and if it is known to a Responsible Officer of the Guarantee Trustee, the Guarantee Trustee shall mail by first-class postage prepaid to each Holder notice of a Guarantee Event of Default within 90 days after it occurs or, if later, after a Responsible Officer of the Guarantee Trustee has knowledge of such Guarantee Event of Default. The Guarantee Trustee may withhold the notice if and so long as its corporate trust committee or a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the Holders. (b) The Guarantee Trustee shall not be deemed to have knowledge of any Guarantee Event of Default unless a Responsible Officer of the Guarantee Trustee shall have received written notice of such Guarantee Event of Default.

Appears in 3 contracts

Samples: Guarantee Agreement (Omnicare Inc), Guarantee Agreement (Omnicare Inc), Guarantee Agreement (Omnicare Capital Trust Ii)

AutoNDA by SimpleDocs

Guarantee Event of Default; Notice. (a) If a Guarantee Event of Default occurs and is continuing and if it is known to a Responsible Officer of the Guarantee Trustee, the Guarantee Trustee shall mail by first-class postage prepaid to each Holder notice of a Guarantee Event of Default within 90 days after it occurs or, if later, after a Responsible Officer of the Guarantee Trustee has knowledge of such Guarantee Event of Default. The Guarantee Trustee may withhold the notice if and so long as its corporate trust committee or a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the Holders. (b) The Guarantee Trustee shall not be deemed to have knowledge of any Guarantee Event of Default unless a Responsible Officer of the Guarantee Trustee shall have received written notice notice, or a Responsible Officer charged with the administration of the Trust Agreement shall have obtained written notice, of such Guarantee Event of Default.

Appears in 2 contracts

Samples: Guarantee Agreement (Omnicare Capital Trust Iii), Guarantee Agreement (NCS of Illinois Inc)

AutoNDA by SimpleDocs

Guarantee Event of Default; Notice. (a) If a Guarantee Event of Default occurs and is continuing and if it is known to a Responsible Officer of the Guarantee Trustee, the Guarantee Trustee shall mail by first-class postage prepaid to each Holder notice of a Guarantee Event of Default within 90 days after it occurs or, if later, after a Responsible Officer of the Guarantee Trustee has knowledge of such Guarantee Event of Default. The Guarantee Trustee may withhold the notice if and so long as its corporate trust committee or a committee of its Responsible Officers Officer in good faith determines that withholding the notice is in the interests of the Holders. (b) The Guarantee Trustee shall not be deemed to have knowledge of any Guarantee Event of Default unless a Responsible Officer of the Guarantee Trustee shall have received written notice notice, or a Responsible Officer charged with the administration of the Trust Agreement shall have actual knowledge of such Guarantee Event of Default.

Appears in 1 contract

Samples: Guarantee Agreement (Nextel Communications Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!