Common use of Notification of Defaults Clause in Contracts

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

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

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

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

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