Common use of Notification of Defaults Clause in Contracts

Notification of Defaults. Each Subordinated Lender shall immediately give written notice to the Agent of a default or an event of default by the Debtors under the Subordinated Debt. Each Subordinated Lender understands that, subject to any grace or cure period under such Subordinated Lender’s agreements with the Debtors, any default by the Debtors under the Subordinated Debt is, automatically, an event of default of the Debtors under the Senior Debt. Nothing in this Agreement shall be interpreted to limit or restrict the right of the Agent and each Subordinated Lender to waive any default under their respective documents, and each Subordinated Lender agrees that any waiver by each Subordinated Lender will be in writing and provided to the Agent.

Notification of Defaults. Each The Subordinated Lender shall immediately give written notice to the Agent Senior Lender of a default or an event of default by the Debtors Borrowers under the Subordinated Debt. Each The Subordinated Lender understands that, subject to any grace or cure period under such the Subordinated Lender’s agreements with the DebtorsBorrowers, any default by the Debtors Borrowers under the Subordinated Debt is, automatically, an event of default of the Debtors Borrowers under the Senior Debt. Nothing in this Agreement shall be interpreted to limit or restrict the right of the Agent Senior Lender and each the Subordinated Lender to waive any default under their respective documents, and each the Subordinated Lender agrees that any waiver by each the Subordinated Lender will be in writing and provided to the AgentSenior Lender.

Notification of Defaults. Each The Subordinated Lender shall immediately give written notice to the Agent of a default or an event of default by the Debtors Borrowers under the Subordinated Debt. Each The Subordinated Lender understands that, subject to any grace or cure period under such the Subordinated Lender’s 's agreements with the DebtorsBorrowers, any default by the Debtors Borrowers under the Subordinated Debt is, automatically, an event of default of the Debtors Borrowers under the Senior Debt. Nothing in this Agreement shall be interpreted to limit or restrict the right of the Agent and each the Subordinated Lender to waive any default under their respective documents, and each the Subordinated Lender agrees that any waiver by each the Subordinated Lender will be in writing and provided to the Agent.

Notification of Defaults. Each Subordinated Lender shall immediately give written notice to the Agent of a default or an event of default by the Debtors under the Subordinated Debt. Each Subordinated Lender understands that, subject to any grace or cure period under such Subordinated Lender’s 's agreements with the Debtors, any default by the Debtors under the Subordinated Debt is, automatically, an event of default of the Debtors under the Senior Debt. Nothing in this Agreement shall be interpreted to limit or restrict the right of the Agent and each Subordinated Lender to waive any default under their respective documents, and each Subordinated Lender agrees that any waiver by each Subordinated Lender will be in writing and provided to the Agent.

Notification of Defaults. Each The Subordinated Lender shall immediately give written notice to the Agent of a default or an event of default by the Debtors Borrower under the Subordinated Debt. Each The Subordinated Lender understands that, subject to any grace or cure period under such the Subordinated Lender’s agreements with the DebtorsBorrower, any default by the Debtors Borrower under the Subordinated Debt is, automatically, an event of default of the Debtors Borrower under the Senior Debt. Nothing in this Agreement shall be interpreted to limit or restrict the right of the Agent and each the Subordinated Lender to waive any default under their respective documents, and each the Subordinated Lender agrees that any waiver by each the Subordinated Lender will be in writing and provided to the Agent.