Common use of Notice of Default or Claimed Default Clause in Contracts

Notice of Default or Claimed Default. Promptly upon (and in any event within five (5) business days following) any officer of the Company obtaining Knowledge (A) of any condition or event which constitutes an event of default or default (including, without limitation, by way of cross-default) under any Indebtedness having a principal amount of at least $5 million, (B) that the holder of any Indebtedness has given any written notice or taken any other action with respect to a claimed condition or event which constitutes such an event of default or default or (C) that any Person has given any written notice to the Company or any of its Subsidiaries or taken any other action with respect to a claimed default under an agreement (other than Indebtedness included in clause (A) of this Section 6.4(a)(v)) or other obligation having total consideration to the parties of at least $1 million, an officer's certificate describing the same and the period of existence thereof and what action the Company has taken, is taking and proposes to take with respect thereto.