Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 53 contracts
Samples: Revolving Credit, Term Loan and Security Agreement (Drilling Tools International Corp), Term Loan and Security Agreement (Direct Digital Holdings, Inc.), Revolving Credit, Security and Guaranty Agreement (ROC Energy Acquisition Corp.)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 42 contracts
Samples: Revolving Credit and Security Agreement (Ugi Corp /Pa/), Revolving Credit, Term Loan, Guaranty and Security Agreement (Dril-Quip Inc), Revolving Credit and Security Agreement (Virco MFG Corporation)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent Borrower referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 30 contracts
Samples: Revolving Credit, Term Loan and Security Agreement (Perma Fix Environmental Services Inc), Revolving Credit, Term Loan and Security Agreement (Perma Fix Environmental Services Inc), Revolving Credit, Term Loan and Security Agreement (Perma Fix Environmental Services Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent a Borrower referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 22 contracts
Samples: Revolving Credit and Security Agreement (Teamstaff Inc), Revolving Credit and Security Agreement (E Com Ventures Inc), Revolving Credit and Security Agreement (Foster L B Co)
Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent it has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that an Agent receives such a notice, Agent it shall promptly give notice thereof to the other Agent and Lenders. Each 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, provided that unless and until such 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.
Appears in 19 contracts
Samples: Credit Agreement (Cooper River Properties LLC), Credit Agreement (Cooper River Properties LLC), Credit Agreement (Broad River Properties L L C)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender Bank or Borrowing Agent the Company referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to Lendersthe Banks. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required LendersBanks; provided, provided that, unless and until the Agent shall have received such directions, the 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 Lendersthe Banks.
Appears in 17 contracts
Samples: 364 Day Revolving Credit Agreement (Humana Inc), Credit Agreement (Humana Inc), Credit Agreement (Humana Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall give notice thereof to the Lenders. The 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, provided that unless and until the Agent shall have received such directions, the 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.
Appears in 17 contracts
Samples: Credit Agreement (Brown Tom Inc /De), Credit Agreement (Dominion Bridge Corp), Credit Agreement (Central Vermont Public Service Corp)
Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that any Agent receives such a notice, such Agent shall give notice thereof to the Lenders. Each 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, provided that unless and until such 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.
Appears in 14 contracts
Samples: Credit Agreement (L 3 Communications Corp), Credit Agreement (Peabody Energy Corp), Credit Agreement (L 3 Communications Holdings Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender Bank or Borrowing Agent the Company referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to Lendersthe Banks. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required LendersBanks; provided, provided that, unless and until the Agent shall have received such directions, the 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 Lendersthe Banks.
Appears in 12 contracts
Samples: 364 Day Credit Agreement (Humana Inc), Credit Agreement (Humana Inc), Credit Agreement (Humana Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender Lender, the Authorized Representative or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided, provided that, unless and until the Agent shall have received such directions, the 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.
Appears in 11 contracts
Samples: Credit Agreement (Walter Industries Inc /New/), Credit Facilities and Reimbursement Agreement (Proffitts Inc), Credit Agreement (Windmere Durable Holdings Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent Borrower referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 11 contracts
Samples: Revolving Credit and Security Agreement (Horsehead Holding Corp), Revolving Credit and Security Agreement (Small World Kids Inc), Revolving Credit and Security Agreement (Fonda Group Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received written notice from a Lender or Borrowing Agent referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to LendersLenders and Borrowers. 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 Agent shall have received such directions, 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 Lenders.
Appears in 9 contracts
Samples: Revolving Credit and Security Agreement (Emerge Energy Services LP), Revolving Credit and Security Agreement (Emerge Energy Services LP), Revolving Credit and Security Agreement (Emerge Energy Services LP)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent a Borrower referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 8 contracts
Samples: Revolving Credit and Security Agreement (Dreams Inc), Revolving Credit and Security Agreement (Intcomex, Inc.), Revolving Credit and Security Agreement (Allied Motion Technologies Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. .” In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 8 contracts
Samples: Revolving Credit and Security Agreement (ARKO Corp.), Revolving Credit and Security Agreement (ARKO Corp.), Revolving Credit and Security Agreement (ARKO Corp.)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received written notice from a Lender or Borrowing Agent referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided, provided that, unless and until Agent shall have received such directions, 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 Lenders.
Appears in 8 contracts
Samples: Revolving Credit and Security Agreement (Quantum Corp /De/), Revolving Credit and Security Agreement (Quantum Corp /De/), Revolving Credit and Security Agreement (Quantum Corp /De/)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other DocumentsDefault, unless Agent has shall have received written notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives will notify each Lender of its receipt of any such a notice, Agent shall give notice thereof to Lenders. Agent shall take such action with respect to such Default or Event of Default as may be requested by Required Lenders (or all such other portion of Lenders as shall be reasonably directed prescribed by this Agreement) in accordance with the Required Lenders; provided, that, unless terms hereof. Unless and until Agent shall have has received any such directionsrequest, Agent may (but shall not be obligated to) take such action, action or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interests interest of Lenders.
Appears in 7 contracts
Samples: Loan and Security Agreement (Vertex Energy Inc.), Loan and Security Agreement (Vertex Energy Inc.), Loan and Security Agreement (Vertex Energy Inc.)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall give notice thereof to the Lenders. The 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, PROVIDED that unless and until the Agent shall have received such directions, the 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.
Appears in 7 contracts
Samples: Term Loan Agreement (Sandler Capital Management), Credit Agreement (Big City Radio Inc), Credit Agreement (Aftermarket Technology Corp)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent a Borrower referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; providedPROVIDED, thatTHAT, unless and until Agent shall have received such directions, 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 Lenders.
Appears in 7 contracts
Samples: Revolving Credit, Term Loan and Security Agreement (Waxman Industries Inc), Revolving Credit, Term Loan and Security Agreement (Lesco Inc/Oh), Revolving Credit and Security Agreement (PDS Financial Corp)
Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Agent has received notice from a Lender Lender, or Borrowing the Borrowers’ Agent or any other Loan Party referring to this Agreement or the Other DocumentsAgreement, 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 notice thereof to the Lenders. Agent 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, provided that unless and until an 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.
Appears in 7 contracts
Samples: Credit Agreement (Cypress Environmental Partners, L.P.), Credit Agreement (Cypress Environmental Partners, L.P.), Credit Agreement (Cypress Energy Partners, L.P.)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Transaction Documents, unless Agent has received notice from a Lender or Borrowing Agent a Credit Party referring to this Agreement or the Other Transaction Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenderseach Lender. 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 Agent shall have received such directions, 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.
Appears in 6 contracts
Samples: Securities Purchase Agreement, Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc), Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 5 contracts
Samples: Revolving Credit and Security Agreement (Great Lakes Dredge & Dock CORP), Revolving Credit, Term Loan and Security Agreement (Ati Inc), Revolving Credit and Security Agreement (Great Lakes Dredge & Dock CORP)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Agent has received written notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “notice Notice of default”. Default.” In the event that the Agent receives such a notice, the Agent shall give prompt notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all or other Lenders); provided, that, that unless and until the Agent shall have received such directions, the 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.
Appears in 5 contracts
Samples: Credit Agreement (Hexcel Corp /De/), Credit Agreement (Dollar Tree, Inc.), Credit Agreement (Hexcel Corp /De/)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender Lender, Holdings or Borrowing Agent a Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that the Agent receives such a notice, the Agent shall give notice thereof to the Lenders. The 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, provided that unless and until the Agent shall have received such directions, the 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.
Appears in 5 contracts
Samples: Second Lien Credit Agreement (Sears Holdings Corp), Second Lien Credit Agreement (Sears Holdings Corp), Term Loan Credit Agreement (Sears Holdings Corp)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or Potential Event of Default hereunder or under the Other Documents, unless Agent has received written notice from a Lender or Borrowing Agent any Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Event of Default or Potential Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall promptly give notice thereof to Lenders. The Agent shall take such action with respect to such Event of Default or Potential Event of Default as shall be reasonably directed by the Required Requisite Lenders; provided, that, provided that unless and until Agent shall have received such directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Potential Event of Default as it shall deem advisable in the best interests of Lenders.
Appears in 5 contracts
Samples: Warehousing Credit Agreement (PLM Equipment Growth Fund V), Warehousing Credit Agreement (PLM Equipment Growth Fund Vi), Warehousing Credit Agreement (PLM Equipment Growth & Income Fund Vii)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has they have received notice from a Lender Bank or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall give notice thereof to Lendersthe Banks. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required LendersBanks; provided, that, provided that unless and until the Agent shall have received such directions, the 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 Lendersthe Banks.
Appears in 4 contracts
Samples: Credit Agreement (Aqua America Inc), Credit Agreement (Philadelphia Suburban Corp), Credit Agreement (Philadelphia Suburban Corp)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent a Loan Party referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. .” In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 4 contracts
Samples: Term Loan and Security Agreement (Boot Barn Holdings, Inc.), Revolving Credit and Security Agreement (Boot Barn Holdings, Inc.), Revolving Credit and Security Agreement (Boot Barn Holdings, Inc.)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence existence of any Default or Event of Default hereunder (other than Agent's actual notice or knowledge of an Event of Default under the Other Documents, Section 8 hereof) unless Agent has received notice from a Lender or Borrowing Agent Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a noticenotice of default, Agent shall give notice thereof to LendersLender. Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required LendersLender; provided, that, provided that unless and until Agent shall have received such directions, 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 LendersLender.
Appears in 4 contracts
Samples: Master Loan and Security Agreement (American Strategic Income Portfolio Inc Ii), Master Loan and Security Agreement (American Strategic Income Portfolio Inc), Master Loan and Security Agreement (American Strategic Income Portfolio Inc Iii)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or Potential Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent any Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Event of Default or Potential Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall promptly give notice thereof to Lenders. The Agent shall take such action with respect to such Event of Default or Potential Event of Default as shall be reasonably directed by the Required Requisite Lenders; provided, that, provided that unless and until Agent shall have received such directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Potential Event of Default as it shall deem advisable in the best interests of Lenders.
Appears in 4 contracts
Samples: Warehousing Credit Agreement (PLM Equipment Growth Fund Vi), Warehousing Credit Agreement (Professional Lease Management Income Fund I LLC), Warehousing Credit Agreement (PLM Equipment Growth Fund V)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other other Loan Documents, unless Agent has received notice from a Lender or Borrowing Agent Borrower referring to this Agreement or the Other other Loan Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 4 contracts
Samples: Loan and Security Agreement (Intercloud Systems, Inc.), Loan and Security Agreement (Sebring Software, Inc.), Loan and Security Agreement (Genesis Group Holdings Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to the Lenders. Subject to the provisions of Section 10.5, the 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, provided that unless and until the Agent shall have received such directions, the 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 the Agent shall deem advisable and in the best interests of the Lenders.
Appears in 4 contracts
Samples: Credit Agreement (Cke Restaurants Inc), Credit Agreement (Cke Restaurants Inc), Credit Agreement (Cke Restaurants Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent a Loan Party referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 4 contracts
Samples: Loan and Security Agreement (Stanadyne Automotive Corp), Revolving Credit, Term Loan, Capital Expenditure Loan, Guaranty, and Security Agreement (HLM Design Inc), Loan and Security Agreement (Bucyrus International Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or Potential Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Event of Default or Potential Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall promptly give notice thereof to Lenders. The Agent shall take such action with respect to such Event of Default or Potential Event of Default as shall be reasonably directed by the Required Requisite Lenders; provided, that, provided that unless and until Agent shall have received such directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Potential Event of Default as it shall deem advisable in the best interests of Lenders.
Appears in 4 contracts
Samples: Warehousing Credit Agreement (PLM International Inc), Warehousing Credit Agreement (PLM International Inc), Warehousing Credit Agreement (American Finance Group Inc /De/)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent it has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, Agent it shall promptly give notice thereof to the Lenders. The 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, provided that unless and until the Agent shall have received such directions, the 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.
Appears in 4 contracts
Samples: Credit Agreement (Corestaff Inc), Credit Agreement (WLR Foods Inc), Credit Agreement (Quorum Health Group Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent Borrower Representative referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 3 contracts
Samples: Credit and Security Agreement (Manhattan Bridge Capital, Inc), Credit and Security Agreement (Manhattan Bridge Capital, Inc), Credit and Security Agreement (Sachem Capital Corp.)
Notice of Default. The Agent shall not be deemed to have ----------------- knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has actually received notice from a Lender Bank, Holdings or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”. ." In the event that the Agent receives such a notice, the Agent shall give prompt notice thereof to Lendersthe Banks. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required LendersBanks; provided, that, unless and until the Agent shall have received such -------- directions, the 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 Lendersthe Banks.
Appears in 3 contracts
Samples: Credit Agreement (Cambridge Industries Inc /De), Credit Agreement (Wesley Jessen Holding Inc), Credit Agreement (Wesley Jessen Visioncare Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of defaultNOTICE OF DEFAULT”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 3 contracts
Samples: Revolving Credit and Security Agreement (Geokinetics Inc), Revolving Credit, Term Loan and Security Agreement (Geokinetics Inc), Revolving Credit, Capex Loan and Security Agreement (Geokinetics Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required LendersMajority Lenders or all Lenders as appropriate; provided, that, provided that unless and until the Agent shall have received such directions, the 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 or as the Agent shall believe necessary to protect the Lenders' interests in the Collateral or the Guarantor Collateral.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Quiksilver Inc), Credit Agreement (Point 360), Credit Agreement (Point 360)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent a Borrower referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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, that unless and until Agent shall have received such directions, 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 Lenders.
Appears in 3 contracts
Samples: Revolving Credit, Term Loan and Security Agreement (Delta Mills Inc), Revolving Credit and Term Loan Agreement (Richton International Corp), Revolving Credit, Term Loan and Security Agreement (Richton International Corp)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received written notice thereof from a Lender or Borrowing Agent referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”Borrower. In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to Lendersthe Lenders and the Borrower. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; , provided, thathowever, that unless and until the Agent shall have received such directions, the 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 to be in the best interests of the Lenders.
Appears in 3 contracts
Samples: Revolving Credit and Guaranty Agreement (Bet Holdings Inc), Revolving Credit Agreement (Mercury General Corp), Credit Agreement (Cleco Corp)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”. ." In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided, provided that, unless and until the Agent shall have received such directions, the 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.
Appears in 3 contracts
Samples: Loan Agreement (MKS Instruments Inc), Loan Agreement (MKS Instruments Inc), Loan Agreement (MKS Instruments Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided, provided that, unless and until the Agent shall have received such directions, the 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.
Appears in 3 contracts
Samples: Credit Agreement (MKS Instruments Inc), Credit Agreement (MKS Instruments Inc), Loan Agreement (MKS Instruments Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or (other than under Section 8.01 hereof) unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent any Borrower referring to this Agreement or the Other DocumentsLoan Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that the Agent receives such a notice, the Agent shall give notice thereof to the Lenders. The 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, provided that unless and until the Agent shall have received such directions, the 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.
Appears in 3 contracts
Samples: Loan Agreement (New Century Financial Corp), Master Loan and Security Agreement (New Century Financial Corp), Master Loan and Security Agreement (New Century Financial Corp)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has shall have received written notice thereof from a Lender or Borrowing Agent the Company referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “notice "Notice of default”. Default." In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to the Lenders. The 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, provided that unless and until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such actionaction or give such directions, or refrain from taking such actionaction or giving such directions, with respect to such Default or Event of Default as it shall deem advisable to be in the best interests of the Lenders.
Appears in 3 contracts
Samples: Credit Agreement (Linens N Things Inc), Credit Agreement (Linens N Things Inc), Credit Agreement (Linens N Things Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that the Agent receives such a notice, the Agent shall give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders); provided, that, provided that unless and until the Agent shall have received such directions, the 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.
Appears in 3 contracts
Samples: Credit Agreement (Cadiz Inc), Credit Agreement (Cadiz Inc), Credit Agreement (Cadiz Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 3 contracts
Samples: Debt Agreement (Castle a M & Co), Revolving Credit and Security Agreement (General Finance CORP), Revolving Credit and Security Agreement (Compudyne Corp)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Transaction Documents, unless the Agent has received notice from a Lender an Investor or Borrowing Agent the Company referring to this Agreement or the Other Transaction Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that the Agent receives such a notice, the Agent shall give notice thereof to Lendersthe Investors. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required LendersInvestors; provided, provided that, unless and until the Agent shall have received such directions, the 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 LendersInvestors.
Appears in 3 contracts
Samples: Note Purchase Agreement (Pedevco Corp), Note Purchase Agreement (Implant Sciences Corp), Note Purchase Agreement (Pedevco Corp)
Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Agent has received notice from a Lender Lender, or Borrowing Agent any Borrower or any other Loan Party referring to this Agreement or the Other DocumentsAgreement, 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 notice thereof to the Lenders. Agent 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, provided that unless and until an 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.
Appears in 3 contracts
Samples: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP), Credit Agreement
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to the Lenders. The 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, provided that unless and until the Agent shall have received such directions, the 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.
Appears in 3 contracts
Samples: Credit Agreement (Gencor Industries Inc), Senior Secured Credit Agreement (Gencor Industries Inc), Loan and Security Agreement (Standard Commercial Corp)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Loan Documents, unless the Agent has received notice from a Lender Lender, the Issuer or Borrowing Agent a Loan Party referring to this Agreement or the Other Loan Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”Default. In the event that the Agent receives such a notice, the Agent shall give notice thereof to Lendersthe Lenders and the Issuer. The 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 the Agent shall have received such directions, the 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 Lendersthe Lenders and the Issuer.
Appears in 3 contracts
Samples: Credit Agreement (Ramaco Resources, Inc.), Credit and Security Agreement (Ramaco Resources, Inc.), Credit and Security Agreement (Ramaco Resources, Inc.)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other other Loan Documents, unless Agent has received notice from a Lender or Borrowing Agent Borrower referring to this Agreement or the Other other Loan Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 3 contracts
Samples: Loan and Security Agreement (Executone Information Systems Inc), Loan and Security Agreement (Nations Flooring Inc), Loan and Security Agreement (Nations Flooring Inc)
Notice of Default. Agent shall not be deemed to have knowledge or ----------------- notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent any Borrower referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, -------- ---- 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 Lenders.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (Styrochem International Inc), Revolving Credit and Security Agreement (Styrochem International LTD)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent a Loan Party referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to the Lenders. Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lendersapplicable Lenders required by this Agreement; provided, that, unless and until Agent shall have received such directions, 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.
Appears in 2 contracts
Samples: Loan and Security Agreement (Bucyrus International Inc), Loan and Security Agreement (Bucyrus International Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Loan Documents, unless Agent has received notice from a Lender or Borrowing Agent Borrower referring to this Agreement or the Other Loan Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 2 contracts
Samples: Loan Agreement (Microwave Power Devices Inc), Revolving Credit, Term Loan and Security Agreement (Obsidian Enterprises Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Majority Lenders; provided, that, PROVIDED that unless and until the Agent shall have received such directions, the 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.
Appears in 2 contracts
Samples: Credit Agreement (Zaring National Corp), Credit Agreement (Zaring National Corp)
Notice of Default. Neither Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent it has received notice from a Lender Bank or Borrowing Agent the Borrower or any other Credit Party referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, Agent it shall give prompt notice thereof to Lendersthe Banks. Each Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; providedBanks, provided that, unless and until an 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 Lendersthe Banks.
Appears in 2 contracts
Samples: Credit Agreement (Pueblo Xtra International Inc), Credit Agreement (Pueblo Xtra International Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to the Lenders. Subject to the provisions of Section 10.5, the 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, PROVIDED that unless and until the Agent shall have received such directions, the 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 the Agent shall deem advisable and in the best interests of the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Cke Restaurants Inc), Credit Agreement (Cke Restaurants Inc)
Notice of Default. Agent shall not be deemed to have knowledge or ------------------ notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent a Borrower referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (Delta Mills Inc), Revolving Credit and Security Agreement (Delta Woodside Industries Inc /Sc/)
Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Agent has actually received notice from a Lender or Borrowing Agent a Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”. ." In the event that any Agent receives such a notice, such Agent shall give prompt notice thereof to the Lenders. Agent 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 Agent any Agent, shall have received such directions, Agent 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.
Appears in 2 contracts
Samples: Credit Agreement (Pacer International Inc), Credit Agreement (Quality Distribution Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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, provided that unless and until Agent shall have received such directions, 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 Lenders. In no event shall Agent be required to take any such action which it determines to be contrary to law.
Appears in 2 contracts
Samples: Construction Loan Agreement (Taubman Realty Group LTD Partnership), Construction Loan Agreement (Taubman Centers Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent referring to this Agreement or the Other Documents, a Borrower describing such Default or Event of Default and stating that such notice is a “notice of default”Default. In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to the Lenders. The 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, provided that unless and until the Agent shall have received such directionsdirection, the Agent may in the interim (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 and in the best interests of the Lenders.
Appears in 2 contracts
Samples: Financing Agreement and Guaranty (Fibermark Inc), Financing Agreement and Guaranty (Fibermark Inc)
Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Agent has received notice from a Lender or Borrowing Agent the Company referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that an Agent receives such a notice, the Administrative Agent shall give notice thereof to Lendersthe Lenders and the other Agent. Agent 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, provided that unless and until an 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.
Appears in 2 contracts
Samples: Credit Agreement (Hercules Inc), Credit Agreement (Hercules Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender Lender, an Authorized Representative or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required LendersLenders or all Lenders as required in this Agreement; provided, provided that, unless and until the Agent shall have received such directions, the 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.
Appears in 2 contracts
Samples: Bridge Credit Agreement (Healthsouth Corp), Credit Agreement (Healthsouth Corp)
Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, 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 notice thereof to the Lenders. Each 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, PROVIDED that unless and until such 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.
Appears in 2 contracts
Samples: Credit Agreement (Aquila Inc), Credit Agreement (Aquila Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless the Agent has received notice from a Lender or Borrowing Agent referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that the Agent receives such a notice, the Agent shall give notice thereof to Lenders. Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the US-Canada Required Lenders; provided, that, unless and until the Agent shall have received such directions, the 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 Lenders.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (Invacare Corp), Revolving Credit and Security Agreement (Invacare Corp)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent it has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”. ." In the event that the Agent receives such a notice, Agent it shall promptly give notice thereof to the Lenders. The 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, provided that unless and until the Agent shall have received such directions, the 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.
Appears in 2 contracts
Samples: Credit Agreement (Markel Corp), Credit Agreement (Markel Corp)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has shall have received written notice from a Lender or Borrowing Agent Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives will notify each Lender of its receipt of any such a notice, Agent shall give notice thereof to Lenders. Agent shall take such action with respect to such Default or Event of Default as may be requested by Required Lenders (or all or such other portion of Lenders as shall be reasonably directed prescribed by this Agreement) in accordance with the Required Lenders; provided, that, unless terms hereof. Unless and until Agent shall have has received any such directionsrequest, 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 or in the best interests of Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Greenbacker Renewable Energy Co LLC), Revolving Credit Agreement (Mammoth Energy Services, Inc.)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or a Borrowing Agent referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 2 contracts
Samples: Revolving Credit, Term Loan and Security Agreement (Twist Beauty S.a r.l. & Partners S.C.A.), Revolving Credit, Term Loan and Security Agreement (Twist Beauty S.a r.l. & Partners S.C.A.)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Company referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required LendersLenders or (if required) the Lenders ; provided, that, provided that unless and until the Agent shall have received such directions, the 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.
Appears in 2 contracts
Samples: Credit and Guarantee Agreement (Remington Products Co LLC), Credit and Guarantee Agreement (Remington Products Co LLC)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under Default, except with respect to defaults in the Other Documentspayment of fees required to be paid to the Agent, unless the Agent has shall have received written notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In .” If the event that Agent receives such a notice, the Agent shall give notice thereof to Lenderswill promptly notify the Lenders of its receipt thereof. The Agent shall take such action with respect to such Default or Event of Default as shall may be reasonably directed requested by the Required Lenders; provided, that, provided that unless and until the Agent shall have has received any such directionsrequest, the 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 or in the best interests interest of the Lenders.
Appears in 2 contracts
Samples: Financing Agreement (Basil Street Cafe, Inc.), Financing Agreement (Basil Street Cafe, Inc.)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other DocumentsDefault, unless the Agent has shall have received written notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In The Agent will notify the event that Agent receives Lenders of its receipt of any such a notice. Subject to Section 8.4, Agent shall give notice thereof to Lenders. the Agent shall take such action with respect to such Default or Event of Default as shall may be reasonably directed requested by the Required LendersLenders in accordance with this Agreement in pursuing any rights or remedies under the Loan Documents or at law or in equity; provided, thathowever, that unless and until the Agent shall have has received any such directionsrequest, the 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 Lendersadvisable.
Appears in 2 contracts
Samples: Credit Agreement (BlueLinx Holdings Inc.), Credit Agreement (Canwest Media Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Company referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”. ." In the event that the Agent receives such a notice, the Agent shall give prompt notice thereof to the Lenders. The 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, that unless and until the Agent shall have received such directions, the 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.
Appears in 2 contracts
Samples: Senior Subordinated Credit Agreement (Bio Rad Laboratories Inc), Senior Subordinated Credit Agreement (Bio Rad Laboratories Inc)
Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has it shall have received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. .” In the event that any Agent receives such a notice, such Agent shall promptly give notice thereof to Lendersthe Lenders and the other Agent. Each applicable Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Majority Lenders; provided, provided that, unless and until such 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.
Appears in 2 contracts
Samples: Credit Agreement (Retrophin, Inc.), Credit Agreement (Retrophin, Inc.)
Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, 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 notice thereof to the Lenders. Each 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, provided that unless and until such 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.
Appears in 2 contracts
Samples: Credit Agreement (Northwestern Corp), Credit Agreement (Northwestern Corp)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received written notice from a Lender or Borrowing Agent a Borrower referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 2 contracts
Samples: Revolving Credit, Term Loan and Security Agreement (Stream Global Services, Inc.), Revolving Credit, Term Loan and Security Agreement (Stream Global Services, Inc.)
Notice of Default. In the event that the Agent shall not be deemed to have knowledge or receives such a notice of the occurrence of any a Default or an Event of Default hereunder or under Default, the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give prompt notice thereof to Lendersthe Banks. The Agent shall give each Bank prompt notice of each non-payment of principal of or interest on the Loans, whether or not it has received any notice of the occurrence of such non-payment. The Agent shall (subject to Section 9.05) take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; providedBanks, provided that, unless and until the Agent shall have received such directions, the 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 Lendersthe Banks.
Appears in 2 contracts
Samples: Credit Agreement (Kemet Corporation), Credit Agreement (Liberty Corp)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent Borrower referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided, however, that, unless and until Agent shall have received such directions, 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 Lenders.
Appears in 2 contracts
Samples: Loan and Security Agreement (Vision-Ease Lens, Inc.), Revolving Credit, Term Loan and Security Agreement (Vision-Ease Lens CORP)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent a Credit Party referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 2 contracts
Samples: Revolving Credit, Term Loan, Guaranty and Security Agreement (Us Home & Garden Inc), Revolving Credit, Term Loan, Guaranty and Security Agreement (Sunsource Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by either Lender; provided that prior to the Required Lenders; providedreceipt of such direction, that, unless and until Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, action with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders.
Appears in 2 contracts
Samples: Loan and Security Agreement (Emergent Group Inc), Loan and Security Agreement (Emergent Group Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent Borrowers referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 2 contracts
Samples: Term Loan Credit and Security Agreement (Hudson Technologies Inc /Ny), Revolving Credit and Security Agreement (TCP International Holdings Ltd.)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent a Obligor referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 2 contracts
Samples: Revolving Credit, Acquisition Term Loan and Security Agreement (Philipp Brothers Chemicals Inc), Revolving Credit, Capital Expenditure Line and Security Agreement (Philipp Brothers Chemicals Inc)
Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Agent has received notice from a Lender Lender, or Borrowing Agent the Borrower or any other Loan Party referring to this Agreement or the Other DocumentsAgreement, 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 notice thereof to the Lenders. Agent 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, provided that unless and until an 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.
Appears in 2 contracts
Samples: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP)
Notice of Default. The Agent shall not be deemed to have knowledge or ----------------- notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrowers referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required LendersMajority Lenders or all Lenders as appropriate; provided, that, provided that unless and until the Agent shall have received such directions, the 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 or as the Agent shall believe necessary to protect the Lenders' interests in the Collateral or the Guarantor Collateral.
Appears in 2 contracts
Samples: Credit Agreement (Entravision Communications Corp), Credit Agreement (Entravision Communications Corp)
Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless an Authorized Officer of such Agent has received written notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that any Agent receives such a notice, Agent it shall give notice thereof to the Lenders. Subject to Section 13.7, each Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Majority Lenders; provided, that, provided that unless and until such 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.
Appears in 2 contracts
Samples: Credit Agreement (California Resources Corp), Credit Agreement (California Resources Corp)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received written notice thereof from the Issuing Bank, a Lender or Borrowing Agent referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”Borrower. In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to Lendersthe Issuing Bank, the Lenders and a Borrower. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; , provided, thathowever, that unless and until the Agent shall have received such directions, the 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 to be in the best interests of the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Gp Strategies Corp), Credit Agreement (Gp Strategies Corp)
Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Agent has received notice from a Lender Lender, or Borrowing Agent a Loan Party referring to this Agreement or the Other DocumentsAgreement, 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 promptly give notice thereof to the Lenders. Agent 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, provided that unless and until an 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.
Appears in 2 contracts
Samples: Term Loan Credit Agreement (SemGroup Corp), Credit Agreement (SemGroup Corp)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”. ." In the event that the Agent receives such a notice, the Agent shall promptly give notice 104 thereof to the Lenders. The 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, PROVIDED that unless and until the Agent shall have received such directions, the 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 the Agent shall deem advisable and in the best interests of the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Genmar Holdings Inc), Credit Agreement (Genmar Holdings Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent it has received notice from a Lender or Borrowing Agent the Borrowers referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, Agent it shall promptly give notice thereof to the Lenders. The 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, that unless and until the Agent shall have received such directions, the 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.
Appears in 2 contracts
Samples: Credit Agreement (Rare Hospitality International Inc), Credit Agreement (Rare Hospitality International Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other other Loan Documents, unless Agent has received notice from a Lender or Borrowing Agent referring to this Agreement or the Other other Loan Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to LendersSecured Parties. 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 Agent shall have has received such directions, 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 LendersSecured Parties.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (Virco MFG Corporation), Revolving Credit and Security Agreement (Virco MFG Corporation)
Notice of Default. No Lead Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Lead Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that any Lead Agent receives such a notice, such Lead Agent shall give prompt notice thereof to the Lenders. The 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, provided that, unless and until the Administrative Agent shall have received such directions, 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.
Appears in 2 contracts
Samples: Credit Agreement (Reynolds American Inc), Credit Agreement (Reynolds American Inc)
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent Borrower referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided, provided that, unless and until Agent shall have received such directions, 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 Lenders.
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Security Agreement (Centurion Wireless Technologies Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower or any Guarantor referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Tranche A Lenders; provided, that, PROVIDED that unless and until the Agent shall have received such directions, the 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.
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Guarantee Agreement (Aps Holding Corporation)
Notice of Default. Agent shall not be deemed to have knowledge ----------------- or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Security Agreement (Air Methods Corp)
Notice of Default. The Agent shall not be deemed to have knowledge or ----------------- notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required LendersMajority Lenders or all Lenders as appropriate; provided, that, provided that unless and until the Agent shall have received such directions, the 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 or as the Agent shall believe necessary to protect the Lenders' interests in the Collateral or the Guarantor Collateral.
Appears in 1 contract
Notice of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent a Loan Party referring to this Agreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. 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 Agent shall have received such directions, 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 Lenders.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Allegheny Technologies Inc)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that the Agent receives such a notice, the Agent shall give notice thereof to the Lenders. The 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 of the Lenders, as applicable; provided, that, provided that unless and until the Agent shall have received such directions, the 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.
Appears in 1 contract
Samples: Credit Agreement (Electronic Cigarettes International Group, Ltd.)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has shall have received written notice from a Lender Purchaser or Borrowing Agent the Issuer referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives such a notice, Agent shall give notice thereof to Lenders. .” The Agent shall take such action with respect to such Default or Event of Default as may be requested by Required Purchasers (or all or such other portion of the Purchasers as shall be reasonably directed prescribed by this Agreement) in accordance with the Required Lenders; provided, that, unless terms hereof. Unless and until the Agent shall have has received any such directionsrequest, the 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 or in the best interests of Lendersthe Purchasers.
Appears in 1 contract
Samples: Securities Purchase Agreement (Faraday Future Intelligent Electric Inc.)
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “'notice of default”'. In the event that the Agent receives such a notice, the Agent shall give notice thereof to the Lenders. The 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, provided that unless and until the Agent shall have received such directions, the 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.
Appears in 1 contract
Samples: Credit Agreement (Northwestern Corp)
Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless Agent it has received notice from a Lender or Borrowing Agent the Borrowers referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”. ." In the event that any Agent receives such a notice, Agent it shall promptly give notice thereof to the Lenders. Agent 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, provided that unless and until an 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.
Appears in 1 contract
Notice of Default. The Agent shall not be deemed to have ----------------- knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender Lender, the Authorized Representative or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsAgreement, describing such Default or Event of Default and stating that such notice is a “"notice of default”". In the event that the Agent receives such a notice, the Agent shall promptly give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided, provided that, unless and until the Agent shall have received such directions, the 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.
Appears in 1 contract
Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under unless the Other Documents, unless Agent has received notice from a Lender or Borrowing Agent the Borrower referring to this Agreement or the Other DocumentsLoan Agreement, describing such Default or Event of Default and stating that such notice is a “'notice of default”'. In the event that the Agent receives such a notice, the Agent shall give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Majority Lenders; provided, that, provided that unless and until the Agent shall have received such directions, the 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.
Appears in 1 contract
Samples: Loan and Security Agreement (Alliance Laundry Holdings LLC)
