Common use of Notice of Laws Clause in Contracts

Notice of Laws. The Pledgor agrees to give the Collateral Agent notice of any violations of any Requirement enacted, passed, promulgated, made, issued or adopted by any of the governmental departments or agencies or authorities hereinbefore mentioned affecting the Collateral or the Pledgor’s use thereof, a copy of which is served upon or received by the Pledgor, or otherwise brought to the attention of the Pledgor, by mailing within thirty (30) business days after such service, receipt, or after the same otherwise comes to the attention of the Pledgor, a copy of each and every one thereof to the Collateral Agent. At the same time, the Pledgor will inform the Collateral Agent as to the work or steps which the Pledgor proposes to do or take in order to correct the violation. Notwithstanding the foregoing, however, if such work or step would require any alterations which would, in the Collateral Agent’s reasonable opinion, reduce the value of the Collateral or change the general character or use of the Collateral, the Pledgor may, with the consent of the Collateral Agent, defer compliance therewith, as long as such deferral is consistent with applicable law in order that the Pledgor may, with the consent of the Collateral Agent, at the Pledgor’s expense, contest or seek modification of or other relief with respect to such Requirements, but nothing herein shall relieve the Pledgor of the duty and obligation, at the Pledgor’s expense, to comply with such Requirements, or such Requirements as modified, whenever the Collateral Agent shall so direct.

Notice of Laws. The Pledgor agrees to give the Collateral Agent notice of any violations of any Requirement enacted, passed, promulgated, made, issued or adopted by any of the governmental departments or agencies or authorities hereinbefore mentioned affecting the Collateral or the Pledgor’s 's use thereof, a copy of which is served upon or received by the Pledgor, or otherwise brought to the attention of the Pledgor, by mailing within thirty (30) business days after such service, receipt, or after the same otherwise comes to the attention of the Pledgor, a copy of each and every one thereof to the Collateral Agent. At the same time, the Pledgor will inform the Collateral Agent as to the work or steps which the Pledgor proposes to do or take in order to correct the violation. Notwithstanding the foregoing, however, if such work or step would require any alterations which would, in the Collateral Agent’s 's reasonable opinion, reduce the value of the Collateral or change the general character or use of the Collateral, the Pledgor may, with the consent of the Collateral Agent, defer compliance therewith, as long as such deferral is consistent with applicable law in order that the Pledgor may, with the consent of the Collateral Agent, at the Pledgor’s 's expense, contest or seek modification of or other relief with respect to such Requirements, but nothing herein shall relieve the Pledgor of the duty and obligation, at the Pledgor’s 's expense, to comply with such Requirements, or such Requirements as modified, whenever the Collateral Agent shall so direct.

Notice of Laws. The Pledgor agrees to give the Collateral Agent Trustee notice of any material violations of any Requirement enacted, passed, promulgated, made, issued or adopted by any of the governmental departments or agencies or authorities hereinbefore mentioned affecting with respect to the Collateral or the Pledgor’s use thereof, a copy of which is served upon or received by the Pledgor, or otherwise brought to the attention of a responsible officer of the Pledgor, by mailing within thirty fifteen (3015) business days Business Days after such service, receipt, or after the same otherwise comes to the attention of the Pledgor, a copy of each and every one thereof to the Collateral AgentTrustee. At the same time, the Pledgor will inform the Collateral Agent Trustee as to the work or steps which the Pledgor proposes to do or take in order to correct the any such material violation. Notwithstanding the foregoing, however, if such work or step would require any alterations which would, in the Collateral AgentPledgor’s reasonable opinion, reduce the value of the Collateral or change the general character or use of the Collateral, the Pledgor may, with the consent of the Collateral Agent, may defer compliance therewith, as long as such deferral is consistent with applicable law in order that the Pledgor may, with the consent of the Collateral Agent, at the Pledgor’s expense, contest or seek modification of or other relief with respect to such Requirements, but nothing herein shall relieve the Pledgor of the duty and obligation, at the Pledgor’s expense, to comply with such Requirements, or such Requirements as modified, whenever the Collateral Agent Trustee shall so direct.

Notice of Laws. The Each Pledgor agrees to give the Collateral Agent Trustee notice of any violations of any Requirement enacted, passed, promulgated, made, issued or adopted by any of the governmental departments or agencies or authorities hereinbefore mentioned affecting the Collateral or the such Pledgor’s 's use thereof, a copy of which is served upon or received by the such Pledgor, or otherwise brought to the attention of the such Pledgor, by mailing within thirty (30) business days after such service, receipt, or after the same otherwise comes to the attention of the such Pledgor, a copy of each and every one thereof to the Collateral AgentTrustee. At the same time, the each Pledgor will inform the Collateral Agent Trustee as to the work or steps which the such Pledgor proposes to do or take in order to correct the violation. Notwithstanding the foregoing, however, if such work or step would require any alterations which would, in the Collateral Agent’s Trustee's reasonable opinion, reduce the value of the Collateral or change the general character or use of the Collateral, the such Pledgor may, with the consent of the Collateral AgentTrustee, defer compliance therewith, as long as such deferral is consistent with applicable law in order that the such Pledgor may, with the consent of the Collateral AgentTrustee, at the such Pledgor’s 's expense, contest or seek modification of or other relief with respect to such Requirements, but nothing herein shall relieve the such Pledgor of the duty and obligation, at the such Pledgor’s 's expense, to comply with such Requirements, or such Requirements as modified, whenever the Collateral Agent Trustee shall so direct.