Common use of Notification of Defaults Clause in Contracts

Notification of Defaults. The Company, upon acquiring knowledge ------------------------ thereof, shall promptly notify Lender of any event of default, or any event which with the giving of notice or lapse of time, or both, would constitute an event of default, under the Transaction Documents, and describing the action the Company proposes to take with respect thereto.

Notification of Defaults. The Company, upon acquiring knowledge ------------------------ thereof, shall promptly notify Lender of any event of default, or any event which with the giving of notice or lapse of time, or both, would constitute an event of default, under the Transaction Documents, and describing the action the Company proposes to take with respect thereto.