Knowledge of Defaults. The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of a Default unless the Collateral Agent has received notice from a Secured Party or the Company referring to a Credit Agreement or this Security Agreement describing such Default and stating that such notice is a "Notice of Default." Following receipt of a Notice of Default, the Collateral Agent shall assume that the Default is continuing until the Collateral Agent receives written information to the contrary from the Credit Agent.
Appears in 2 contracts
Samples: Security Agreement (Pulte Homes Inc/Mi/), Security and Collateral Agency Agreement (Pulte Homes Inc/Mi/)
Knowledge of Defaults. The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of a any Event of Default unless the Collateral Agent has received notice from a Secured Party or the Company referring to a the Credit Agreement or Agreement, this Security Agreement describing such Event of Default and stating that such notice is a "Notice of Default." Following receipt of a Notice of Default, the Collateral Agent shall assume that the Event of Default is continuing until the Collateral Agent receives written information to the contrary from the Credit Agent.
Appears in 2 contracts
Samples: Security and Collateral Agency Agreement (Source One Mortgage Services Corp), Security Agreement (Source One Mortgage Services Corp)
Knowledge of Defaults. The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of a Default unless the Collateral Agent has received notice from a Secured Party or the Company referring to a Credit Agreement or this Security Agreement describing such Default and stating that such notice is a "Notice of Default." Following receipt of a Notice of Default, the Collateral Agent shall assume that the Default is continuing until the Collateral Agent receives written information to the contrary from the Credit Agent.. (g)
Appears in 1 contract
Knowledge of Defaults. The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of a any Event of Default unless the Collateral Agent has received notice from a Secured Party or the Company referring to a the Credit Agreement or Agreement, this Security Agreement or the Indentures describing such Event of Default and stating that such notice is a "Notice of Default." Following receipt of a Notice of Default, the Collateral Agent shall assume that the Event of Default is continuing until the Collateral Agent receives written information to the contrary from the Credit Agent.
Appears in 1 contract
Samples: Security and Collateral Agency Agreement (Source One Mortgage Services Corp)
