Notices of Payment Failure Sample Clauses

Notices of Payment Failure. The Paying Agent shall deliver prompt written notice to the Company, the Purchase Money Notes Guarantor and the Collateral Agent in the event that it fails to receive in full the amount required to be paid by the Company, which notice shall include a statement that the required payment was not made by the Company in full and shall set forth the amount of such required payment and in the case of receipt of a partial payment, the amount of such partial payment.

Notices of Payment Failure. (a) The Paying Agent is to deliver prompt written notice to the Company and the PMN Agent if it fails to receive in full on the related Distribution Date or the Purchase Money Notes Maturity Date, as applicable (based on the Cash Flow and Distribution Report), the amount required to be paid by the Company on any Distribution Date or the Purchase Money Notes Maturity Date, as applicable, which notice is to include a statement that the required payment was not made by the Company in full and is to set forth the amount of such required payment and, in the case of receipt of a partial payment, the amount of such partial payment. (b) If the Paying Agent has actual knowledge of any actual payment failure in advance of the related Distribution Date or the Purchase Money Notes Maturity Date, as applicable, it is to deliver written notice thereof to the Company and the PMN Agent as soon as is practicable in accordance with Section 5.2(a). Upon the Paying Agent’s receipt at its Office of written notice from the PMN Agent that an Event of Default pursuant to the Reimbursement, Security and Guaranty Agreement has occurred, or to the extent it has actual knowledge of the occurrence of such an Event of Default, the Paying Agent is to deliver prompt written notice to the Holders and (unless notified of such Event of Default by the PMN Agent in the first instance) the PMN Agent of the occurrence of such Event of Default. (c) If the Paying Agent receives notice from the Holders of any Class of Purchase Money Notes that such Class of Guaranteed Purchase Money Notes has been declared immediately due and payable in accordance with the terms of such Class of Purchase Money Notes no later than 12:00 noon (New York City time) on the fourth Business Day prior to a Distribution Date, the Paying Agent is to determine the amount payable by the applicable Purchase Money Notes Guarantor pursuant to the applicable Purchase Money Notes Guaranty (based on the related Cash Flow and Distribution Report) and is to make a demand therefor no later than 5:00 p.m. (New York City time) on the fourth Business Day prior to such Distribution Date to such Purchase Money Notes Guarantor on behalf of the applicable Holders in accordance with Section 16 of such Purchase Money Notes Guaranty. If, based on any Cash Flow and Distribution Report, the Paying Agent has actual knowledge no later than 12:00 noon (New York City time) on the fourth Business Day prior to a Purchase Money Notes Maturity Date that ...

Notices of Payment Failure. (a) The Paying Agent is to deliver prompt written notice to the Company if it fails to receive in full on the related Distribution Date (based on the Cash Flow and Distribution Report), the amount required to be paid by the Company on any Distribution Date , which notice is to include a statement that the required payment was not made by the Company in full and is to set forth the amount of such required payment and, in the case of receipt of a partial payment, the amount of such partial payment. (b) If the Paying Agent has actual knowledge of any actual payment failure in advance of the related Distribution Date , it is to deliver written notice thereof to the Company as soon as is practicable in accordance with Section 5.2(a).