Common use of Notice of Termination Events Clause in Contracts

Notice of Termination Events. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Potential Termination Event unless the Agent has received notice from any Purchaser or the Seller referring to this Agreement and stating that a Potential Termination Event has occurred hereunder and describing such Potential Termination Event and stating that such notice is a “notice of Potential Termination Event”. In the event that the Agent receives such a notice, it shall promptly give notice thereof to each Purchaser. The Agent shall take such action concerning a Potential Termination Event as may be directed by the Required Purchasers (or, if otherwise required for such action, all of the Purchasers), but until the Agent receives such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, as the Agent deems advisable and in the best interests of the Purchasers and Agent.

Notice of Termination Events. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Potential Termination Event unless the Agent has received notice from any Purchaser or the Seller referring to this Agreement and stating that a Potential Termination Event has occurred hereunder and describing such Potential Termination Event and stating that such notice is a “notice of Potential Termination Event”. In the event that the Agent receives such a notice, it shall promptly give notice thereof to each Purchaser. The Agent shall take such action concerning a Potential Termination Event as may be directed by the Required Purchasers (or, if otherwise required for such action, all of the Purchasers, or, if a Class B Enforcement Trigger exists, the Required Class B Purchasers), but until the Agent receives such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, as the Agent deems advisable and in the best interests of the Purchasers and Agent.