Common use of Notice of Default, etc Clause in Contracts

Notice of Default, etc. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such Agent has actually received written notice from a Lender or either Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Agents shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that, unless and until any Agent shall have received such directions, such Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such Agent in its sole discretion).

Appears in 3 contracts

Samples: Credit Agreement (Bway Parent Company, Inc.), Credit Agreement (Phoenix Container, Inc.), Credit Agreement (BWAY Holding CO)

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Notice of Default, etc. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such the Administrative Agent has actually received written notice from a Lender or the U.S. Borrower or either Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Agents Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that, unless and until any the Administrative Agent shall have received such directions, such the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such the Administrative Agent in its sole discretion).

Appears in 3 contracts

Samples: Credit Agreement (Dole Food Co Inc), Credit Agreement (Dole Food Co Inc), Credit Agreement (Dole Food Co Inc)

Notice of Default, etc. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such the Administrative Agent has actually received written notice from a Lender or Holdings or either Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Agents Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that, unless and until any the Administrative Agent shall have received such directions, such the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such the Administrative Agent in its sole discretion).

Appears in 3 contracts

Samples: Credit Agreement (Dole Food Company Inc), Credit Agreement (Dole Food Company Inc), Credit Agreement (Dole Food Company Inc)

Notice of Default, etc. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such the Administrative Agent has actually received written notice from a Lender or either the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Agents Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that, unless and until any the Administrative Agent shall have received such directions, such the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such the Administrative Agent in its sole discretion).

Appears in 2 contracts

Samples: Credit Agreement (Fairpoint Communications Inc), Credit Agreement (PAETEC Holding Corp.)

Notice of Default, etc. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such the Administrative Agent has actually received written notice from a Lender or either Borrower a Credit Agreement Party referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Agents Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that, unless and until any the Administrative Agent shall have received such directions, such the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such the Administrative Agent in its sole discretion).

Appears in 2 contracts

Samples: Debtor in Possession Credit Agreement (Cooper-Standard Holdings Inc.), Debt Agreement (Cooper-Standard Holdings Inc.)

Notice of Default, etc. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such Agent has actually received written notice from a Lender or either Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative any Agent receives such a notice, the Administrative such Agent shall give prompt notice thereof to the Lenders. The Agents shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that, unless and until any Agent shall have received such directions, such Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such Agent in its sole discretion).

Appears in 2 contracts

Samples: Credit Agreement (Bway Corp), Credit Agreement (Bway Corp)

Notice of Default, etc. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such the Administrative Agent has actually received written notice from a Lender or either the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Agents Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that, unless and until any the Administrative Agent shall have received such directions, such the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such the Administrative Agent in its sole discretion).

Appears in 1 contract

Samples: Credit Agreement (Davis-Standard CORP)

Notice of Default, etc. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such Agent has actually received written notice from a Lender or either Borrower the Borrowers referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Agents shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that, unless and until any Agent shall have received such directions, such Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such Agent in its sole discretion).

Appears in 1 contract

Samples: Term Loan Credit Agreement (Bway Intermediate Company, Inc.)

Notice of Default, etc. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such Agent has actually received written notice from a Lender or either any Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative any Agent receives such a notice, the Administrative such Agent shall give prompt notice thereof to the Lenders. The Agents shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that, unless and until any Agent shall have received such directions, such Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such Agent in its sole discretion).

Appears in 1 contract

Samples: Credit Agreement (Exide Technologies)

Notice of Default, etc. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such the Administrative Agent has actually received written notice from a Lender or Holdings or either Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." In the event that the Administrative Agent receives such such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Agents Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that, unless and until any the Administrative Agent shall have received such directions, such the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such the Administrative Agent in its sole discretion).

Appears in 1 contract

Samples: Credit Agreement (Dole Food Company Inc)

Notice of Default, etc. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such the Administrative Agent has actually received written notice from a Lender or either the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Agents Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or all Lenders, to the extent required by Section 11.12(a)); provided that, unless and until any the Administrative Agent shall have received such directions, such the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such the Administrative Agent in its sole discretion).

Appears in 1 contract

Samples: Credit Agreement (Fairpoint Communications Inc)

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Notice of Default, etc. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such Agent has actually received written notice from a Lender or either Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative any Agent receives such a notice, the Administrative such Agent shall give prompt notice thereof to the Lenders. The Agents shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that, unless and until any Agent shall have received such directions, such Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such Agent in its sole discretion).

Appears in 1 contract

Samples: Credit Agreement (Exide Technologies)

Notice of Default, etc. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such the Administrative Agent has actually received written notice from a Lender or either Borrower the Borrowers referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Agents Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or such other percentage of Lenders or all Lenders, to the extent required by Section 11.11); provided that, unless and until any the Administrative Agent shall have received such directions, such the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such the Administrative Agent in its sole discretion).

Appears in 1 contract

Samples: Debt Agreement (Fairpoint Communications Inc)

Notice of Default, etc. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such the Administrative Agent has actually received written notice from a Lender or Holdings or either Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Agents Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that, unless and until any the Administrative Agent shall have received such directions, such the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such the Administrative Agent in its sole discretion).

Appears in 1 contract

Samples: Credit Agreement (Dole Food Co Inc)

Notice of Default, etc. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such the Administrative Agent has actually received written notice from a Lender or either any Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Agents Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that, unless and until any the Administrative Agent shall have received such directions, such the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such the Administrative Agent in its sole discretion).

Appears in 1 contract

Samples: Credit Agreement (Owens Corning)

Notice of Default, etc. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such the Administrative Agent has actually received written notice from a Lender or either Borrower a Credit Agreement Party referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Agents Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that, unless and until any the Administrative Agent shall have received such directions, such the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such the Administrative Agent in its sole discretion).

Appears in 1 contract

Samples: Credit Agreement (Westborn Service Center, Inc.)

Notice of Default, etc. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such the Administrative Agent has actually received written notice from a Lender or either the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Agents Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or such other percent of Lenders or all Lenders, to the extent required by Section 11.11(a)); provided that, unless and until any the Administrative Agent shall have received such directions, such the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as determined by such the Administrative Agent in its sole discretion).

Appears in 1 contract

Samples: Credit Agreement (Fairpoint Communications Inc)

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