Common use of Notice of Enforcement Event Clause in Contracts

Notice of Enforcement Event. The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of any Enforcement Event, unless the Collateral Agent shall have received a Notice of Enforcement Event from a Secured Creditor in accordance with Section 2.4. The Collateral Agent shall take such action with respect to such Enforcement Event as may be directed by the Majority Secured Creditors in accordance with Section 3.2 or, if permitted by Section 3.2(a), as may be directed by the Minority Creditor Group.

Notice of Enforcement Event. The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of any Enforcement Event, unless the Collateral Agent shall have received a Notice of Enforcement Event from a Secured Creditor (or the Lender Agent on behalf of the Credit Agreement Creditors) in accordance with Section 2.4. The Collateral Agent shall take such action with respect to such Enforcement Event as may be directed by the Majority Secured Creditors in accordance with Section 3.2 or, if permitted by Section 3.2(a), as may be directed by the Minority Creditor Group.

Notice of Enforcement Event. The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of any Enforcement Event, unless the Collateral Agent shall have received a Notice of Enforcement Event written notice from a Secured Creditor in accordance with Section 2.4. The Collateral Agent shall take such action with respect to such Enforcement Event as may be directed by the Majority Secured Creditors in accordance with Section 3.2 or, if permitted by Section 3.2(a), as may be directed by the Minority Creditor Group.