Common use of Notification of prescribed events Clause in Contracts

Notification of prescribed events. (a) If a Senior Default or a Senior Secured Notes Default or a Pari Passu Debt Default either occurs or ceases to be continuing the Senior Agent, Senior Secured Notes Representative(s) or Pari Passu Debt Representative(s) (as applicable) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Second Lien Representative(s), the High Yield Representative(s), the Unsecured Representative(s), any other Senior Secured Representative and each Hedge Counterparty. (b) If a Senior Acceleration Event occurs, the Senior Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (c) If a Senior Secured Notes Acceleration Event occurs the relevant Senior Secured Notes Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (d) If a Pari Passu Debt Acceleration Event occurs the relevant Pari Passu Debt Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (e) If a Second Lien Default either occurs or ceases to be continuing the relevant Second Lien Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), any other Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterparty. (f) If a High Yield Default either occurs or ceases to be continuing the relevant High Yield Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), any other High Yield Representative(s), the Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterparty. (g) If an Unsecured Default either occurs or ceases to be continuing the relevant Unsecured Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), the Second Lien Representative(s), any other Unsecured Representative(s) and each Hedge Counterparty. (h) If a Second Lien Acceleration Event occurs the relevant Second Lien Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (i) If a High Yield Acceleration Event occurs the relevant High Yield Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (j) If an Unsecured Acceleration Event occurs the relevant Unsecured Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (k) If the Security Agent receives a Second Lien Enforcement Notice under paragraph (a) of Clause 8.12 (

Appears in 5 contracts

Samples: Additional Facility Accession Deed (Liberty Global PLC), Additional Facility S Accession Deed (Liberty Global PLC), Additional Facility T Accession Deed (Liberty Global PLC)

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Notification of prescribed events. (a) If a Senior an Event of Default or a Senior Secured Notes Default under the Credit Facility Agreement or a Pari Passu Debt Default Document either occurs or ceases to be continuing the Senior Agent, Senior Secured Notes Representative(s) or Pari Passu Debt Representative(s) (as applicable) relevant Creditor Representative shall, upon becoming aware of that occurrence or cessation, notify the Security Intercreditor Agent and the Security Intercreditor Agent shall, upon receiving that notification, notify each other Primary Creditor and the Second Lien Representative(s), the High Yield Representative(s), the Unsecured Representative(s), any other Senior Secured Representative and each Hedge CounterpartyCommon Security Agent. (b) If a Senior Credit Facility Acceleration Event occurs, occurs the Senior Credit Facility Agent shall notify the Security Intercreditor Agent and the Security Intercreditor Agent shall, upon receiving that notification, notify each other Party. (c) If a Senior Secured Notes Pari Passu Debt Acceleration Event occurs the relevant Senior Secured Notes Creditor Representative(s) shall notify the Security Intercreditor Agent and the Security Intercreditor Agent shall, upon receiving that notification, notify each other Party. (d) If a Pari Passu Debt Acceleration Event occurs the relevant Pari Passu Debt Representative(s) Common Security Agent enforces, or takes formal steps to enforce, any of the Transaction Security it shall notify the Security Intercreditor Agent and the Security Intercreditor Agent shall, upon receiving that notification, notify each other PartyParty of that action. (e) If any Primary Creditor exercises any right it may have to enforce, or to take formal steps to enforce, any of the Transaction Security it shall notify the Intercreditor Agent and the Intercreditor Agent shall, upon receiving that notification, notify each Party of that action. (f) If a Second Lien Default either occurs or ceases Debtor defaults on any Payment due under a Hedging Agreement, the Hedge Counterparty which is party to be continuing the relevant Second Lien Representative(s) that Hedging Agreement shall, upon becoming aware of that occurrence or cessationdefault, notify the Security Intercreditor Agent and the Security Intercreditor Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), any other Second Lien Representative(s), the Unsecured Representative(s) Creditor Representatives and each other Hedge Counterparty. (f) If a High Yield Default either occurs or ceases to be continuing the relevant High Yield Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent Counterparty and the Common Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), any other High Yield Representative(s), the Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterparty. (g) If an Unsecured Default either occurs a Hedge Counterparty terminates or ceases to be continuing the relevant Unsecured Representative(scloses-out, in whole or in part, any hedging transaction under any Hedging Agreement under Clause 5.9 (Permitted Enforcement: Hedge Counterparties) shall, upon becoming aware of that occurrence or cessation, it shall notify the Security Intercreditor Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), the Second Lien Representative(s), any other Unsecured Representative(s) and each Hedge Counterparty. (h) If a Second Lien Acceleration Event occurs the relevant Second Lien Representative(s) shall notify the Security Agent and the Security Intercreditor Agent shall, upon receiving that notification, notify each Creditor Representative and each other PartyHedge Counterparty and the Common Security Agent. (h) If any of the Floating Rate Term Outstandings or the Other Currency Term Outstandings are to be reduced (whether by way of repayment, prepayment, cancellation or otherwise) the Parent shall notify each Hedge Counterparty of: (i) If a High Yield Acceleration Event occurs the relevant High Yield Representative(s) shall notify the Security Agent date and the Security Agent shall, upon receiving amount of that notification, notify each other Party. (j) If an Unsecured Acceleration Event occurs the relevant Unsecured Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (k) If the Security Agent receives a Second Lien Enforcement Notice under paragraph (a) of Clause 8.12 (proposed reduction;

Appears in 3 contracts

Samples: Intercreditor Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Intercreditor Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Intercreditor Agreement (Melco Crown Entertainment LTD)

Notification of prescribed events. (a) If a Senior Default or a Senior Secured Notes Default or a Pari Passu Debt Event of Default either occurs or ceases to be continuing continuing, the Senior Agent, Senior Secured Notes Representative(s) or Pari Passu Debt Representative(s) (as applicable) relevant Agent shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Second Lien Representative(s)other Agents, the High Yield Representative(s), the Unsecured Representative(s), any other Senior Secured Representative each Operating Facility Lender and each Hedge Counterparty. (b) If a Senior Acceleration Event occursPayment Default either occurs or ceases to be continuing, the Senior relevant Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the other Agents, each other PartyOperating Facility Lender and each Hedge Counterparty. (c) If a Senior Secured Notes Acceleration Event Second Lien Payment Default either occurs or ceases to be continuing, the relevant Senior Secured Notes Representative(s) Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the other Agents, each other PartyOperating Facility Lender and each Hedge Counterparty. (d) If a Pari Passu Debt an Acceleration Event occurs occurs, the relevant Pari Passu Debt Representative(s) Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (e) If a Second Lien Default either occurs Standstill Period occurs, or ceases to be continuing the relevant Second Lien Representative(s) shallcontinuing, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, shall notify the Senior each Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), any other Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterparty. (f) If a High Yield Default either occurs Senior Parent Standstill Period occurs, or ceases to be continuing the relevant High Yield Representative(s) shallcontinuing, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, shall notify the Senior each Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), any other High Yield Representative(s), the Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterparty. (g) If an Unsecured Default either occurs or ceases to be continuing the relevant Unsecured Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent receives a Senior Parent Enforcement Notice under paragraph (b) of Clause 6.9 (Permitted Senior Parent enforcement) it shall, upon receiving that notificationnotice, notify the Senior notify, and send a copy of that notice to, each other Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), the Second Lien Representative(s), any other Unsecured Representative(s) each Operating Facility Lender and each Hedge Counterparty. (h) If a Second Lien Acceleration Event occurs the relevant Second Lien Representative(sSecurity Agent enforces, or takes formal steps to enforce, any of the Transaction Security, it shall notify each other Party of that action. (i) If any Primary Creditor or Operating Facility Lender exercises any right it may have to enforce, or to take formal steps to enforce, any of the Transaction Security, it shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other PartyParty of that action. (ij) If a High Yield Acceleration Event occurs Debtor defaults on any Payment due under a Hedging Agreement, the relevant High Yield Representative(s) shall Hedge Counterparty which is party to that Hedging Agreement shall, upon becoming aware of that default, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (j) If an Unsecured Acceleration Event occurs the relevant Unsecured Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party.Hedge Counterparty. A44420063 (k) If the Security Agent receives a Second Lien Enforcement Notice Hedge Counterparty terminates or closes-out, in whole or in part, any hedging transaction under paragraph any Hedging Agreement under Clause 4.9 (a) of Clause 8.12 (

Appears in 2 contracts

Samples: Intercreditor Agreement (Paysafe LTD), Intercreditor Agreement (Paysafe LTD)

Notification of prescribed events. (a) If If: (i) a Senior Default or a Senior Secured Notes Event of Default either occurs or ceases to be continuing; or (ii) a Senior Acceleration Event occurs, the Senior Agent shall, upon becoming aware of that occurrence, cessation or action, notify the Junior Lenders or Junior Trustee on their behalf in writing (with a copy to the Security Agent) for information purposes provided that any failure to notify the Junior Lenders or Junior Trustee on their behalf shall not give rise to any liability for, or claim against, the Senior Agent or any Senior Lender. (b) If a Junior Default or a Pari Passu Debt Junior Event of Default either occurs or ceases to be continuing the Senior Agent, Senior Secured Notes Representative(s) Junior Lenders or Pari Passu Debt Representative(s) (as applicable) Junior Trustee on their behalf shall, upon becoming aware of that occurrence or cessation, notify the Security Senior Agent and the Security Agent shall, upon receiving that notification, notify the Second Lien Representative(s), the High Yield Representative(s), the Unsecured Representative(s), any other Senior Secured Representative and each Hedge Counterparty. (b) If a Senior Acceleration Event occurs, the Senior Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Partyin writing. (c) If a Senior Secured Notes Junior Acceleration Event occurs the relevant Senior Secured Notes Representative(s) Junior Lenders or Junior Trustee on their behalf shall notify the Security Agent in writing and the Security Agent shall, upon receiving that notification, notify each other Party. (d) If a Pari Passu Debt Acceleration Event occurs the relevant Pari Passu Debt Representative(sSecurity Agent enforces, or takes formal steps to enforce, any of the Transaction Security, it shall notify each Party of that action. (e) If any Senior Creditor exercises any right it may have to enforce, or to take formal steps to enforce, any of the Transaction Security it shall notify the Security Agent in writing and the Security Agent shall, upon receiving that notification, notify each other Party. (e) If a Second Lien Default either occurs or ceases to be continuing the relevant Second Lien Representative(s) shall, upon becoming aware Party of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), any other Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterpartyaction. (f) If a High Yield Default either occurs or ceases The Debtors shall deliver to be continuing the relevant High Yield Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), any other High Yield Representative(s), the Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterparty. (g) If an Unsecured Default either occurs or ceases to be continuing the relevant Unsecured Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), the Second Lien Representative(s), any other Unsecured Representative(s) and each Hedge Counterparty. (h) If a Second Lien Acceleration Event occurs the relevant Second Lien Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (i) If a High Yield Acceleration Event occurs the notices and information required to be delivered to the Senior Creditors under Section 6.2(a)(xiii) of the Senior Loan Agreement, to the relevant High Yield Representative(s) shall notify Junior Lenders under Clause 6.3 of Schedule 2 of the Security Agent and the Security Agent shall2019 Junior Note Agreement, upon receiving that notification, notify each other Party. (j) If an Unsecured Acceleration Event occurs to the relevant Unsecured Representative(sJunior Lenders under Clause 6.3 of Schedule 2 of the 2020 Junior Note Agreement and (ii) shall notify each amendment to and consent and waiver granted under the Security Agent and Senior Loan Agreement or the Security Agent shallJunior Note Agreement, upon receiving that notification, notify each other Partyrespectively. (k) If the Security Agent receives a Second Lien Enforcement Notice under paragraph (a) of Clause 8.12 (

Appears in 1 contract

Samples: Intercreditor Agreement (LumiraDx LTD)

Notification of prescribed events. (a) If a Senior Default or a Senior Secured Notes Default or a Pari Passu Debt Event of Default either occurs or ceases to be continuing continuing, the Senior Agent, Senior Secured Notes Representative(s) or Pari Passu Debt Representative(s) (as applicable) relevant Agent shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Second Lien Representative(s)other Agents, the High Yield Representative(s), the Unsecured Representative(s), any other Senior Secured Representative each Operating Facility Lender and each Hedge Counterparty. (b) If a Senior Acceleration Event occursPayment Default either occurs or ceases to be continuing, the Senior relevant Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the other Agents, each other PartyOperating Facility Lender and each Hedge Counterparty. (c) If a Senior Secured Notes Acceleration Event Second Lien Payment Default either occurs or ceases to be continuing, the relevant Senior Secured Notes Representative(s) Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the other Agents, each other PartyOperating Facility Lender and each Hedge Counterparty. (d) If a Pari Passu Debt an Acceleration Event occurs occurs, the relevant Pari Passu Debt Representative(s) Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (e) If a Second Lien Default either occurs Standstill Period occurs, or ceases to be continuing continuing, the relevant Second Lien Representative(sSecurity Agent shall notify each Agent. (f) If a Senior Parent Standstill Period occurs, or ceases to be continuing, the Security Agent shall notify each Agent. (g) If the Security Agent receives a Senior Parent Enforcement Notice under paragraph (b) of Clause 6.9 (Permitted Senior Parent enforcement) it shall, upon receiving that notice, notify, and send a copy of that notice to, each other Agent, each Operating Facility Lender and each Hedge Counterparty. (h) If the Security Agent enforces, or takes formal steps to enforce, any of the Transaction Security, it shall notify each other Party of that action. (i) If any Primary Creditor or Operating Facility Lender exercises any right it may have to enforce, or to take formal steps to enforce, any of the Transaction Security, it shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each Party of that action. (j) If a Debtor defaults on any Payment due under a Hedging Agreement, the Hedge Counterparty which is party to that Hedging Agreement shall, upon becoming aware of that occurrence or cessationdefault, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), any each other Second Lien Representative(s), the Unsecured Representative(s) Agent and each other Hedge Counterparty. (fk) If a High Yield Default either occurs Hedge Counterparty terminates or ceases to be continuing the relevant High Yield Representative(s) shallcloses-out, upon becoming aware of that occurrence in whole or cessationin part, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(sany hedging transaction under any Hedging Agreement under Clause 4.9 (Permitted enforcement: Hedge Counterparties), the Pari Passu Debt Representative(s), any other High Yield Representative(s), the Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterparty. (g) If an Unsecured Default either occurs or ceases to be continuing the relevant Unsecured Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), the Second Lien Representative(s), any other Unsecured Representative(s) and each Hedge Counterparty. (h) If a Second Lien Acceleration Event occurs the relevant Second Lien Representative(s) it shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other PartyAgent, each Operating Facility Lender and each other Hedge Counterparty. (il) If a High Yield Acceleration Event occurs Debtor defaults on any Payment due under an Operating Facility Document, the relevant High Yield Representative(s) shall Operating Facility Lender which is party to that Operating Facility Document shall, upon becoming aware of that default, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other PartyAgent, each Hedge Counterparty and each other Operating Facility Lender. (j) If an Unsecured Acceleration Event occurs the relevant Unsecured Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (km) If the Security Agent receives a Second Lien Enforcement Notice notice under paragraph (a) of Clause 8.12 3.8 (

Appears in 1 contract

Samples: Intercreditor Agreement (Paysafe LTD)

Notification of prescribed events. (a) If a Senior Default or a Senior Secured Notes Default or a Pari Passu Debt Default either occurs or ceases to be continuing the Senior Agent, Senior Secured Notes Representative(s) or Pari Passu Debt Representative(s) (as applicable) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Second Lien Representative(s), the High Yield Representative(s), the Unsecured Representative(s), any other Senior Secured Representative and each Hedge Counterparty. (b) If a Senior Acceleration Event occurs, the Senior Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (c) If a Senior Secured Notes Acceleration Event occurs the relevant Senior Secured Notes Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (d) If a Pari Passu Debt Acceleration Event occurs the relevant Pari Passu Debt Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (e) If a Second Lien Default either occurs or ceases to be continuing the relevant Second Lien Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), any other Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterparty.. 84894163_20 (f) If a High Yield Default either occurs or ceases to be continuing the relevant High Yield Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), any other High Yield Representative(s), the Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterparty. (g) If an Unsecured Default either occurs or ceases to be continuing the relevant Unsecured Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), the Second Lien Representative(s), any other Unsecured Representative(s) and each Hedge Counterparty. (h) If a Second Lien Acceleration Event occurs the relevant Second Lien Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (i) If a High Yield Acceleration Event occurs the relevant High Yield Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (j) If an Unsecured Acceleration Event occurs the relevant Unsecured Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (k) If the Security Agent receives a Second Lien Enforcement Notice under paragraph (a) of Clause 8.12 (

Appears in 1 contract

Samples: Senior Facilities Agreement (Liberty Global PLC)

Notification of prescribed events. (a) If a Senior Default or a Senior Secured Notes Default or a Pari Passu Debt Revolving Event of Default either occurs or ceases to be continuing the Senior Agent, Senior Secured Notes Representative(s) or Pari Passu Debt Representative(s) (as applicable) relevant Agent shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Second Lien Representative(s)other Agents, the High Yield Representative(s), the Unsecured Representative(s), any other Senior Secured Representative each Operating Facility Lender and each Hedge Counterparty. (b) If a Senior Acceleration Event occurs, Revolving Payment Default either occurs or ceases to be continuing the Senior relevant Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the other Agents, each other PartyOperating Facility Lender and each Hedge Counterparty. (c) If a Senior Secured Notes Acceleration Event occurs the relevant Senior Secured Notes Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (d) If a Pari Passu Debt Acceleration Event occurs the relevant Pari Passu Debt Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (e) If a Second Lien of Default either occurs or ceases to be continuing the relevant Second Lien Representative(s) Agent shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agentother Agents, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), any other Second Lien Representative(s), the Unsecured Representative(s) each Operating Facility Lender and each Hedge Counterparty. (fd) If a High Yield Senior Payment Default either occurs or ceases to be continuing the relevant High Yield Representative(s) shall, upon becoming aware of that occurrence or cessation, Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agentother Agents, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), any other High Yield Representative(s), the Second Lien Representative(s), the Unsecured Representative(s) each Operating Facility Lender and each Hedge Counterparty. (ge) If an Unsecured a Second Lien Payment Default either occurs or ceases to be continuing the relevant Unsecured Representative(s) shall, upon becoming aware of that occurrence or cessation, Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agentother Agents, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), the Second Lien Representative(s), any other Unsecured Representative(s) each Operating Facility Lender and each Hedge Counterparty. (hf) If a Second Lien an Acceleration Event occurs the relevant Second Lien Representative(s) Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (g) If a Second Lien Standstill Period occurs or ceases to be continuing the Security Agent shall notify each Agent. (h) If a Senior Parent Standstill Period occurs or ceases to be continuing the Security Agent shall notify each Agent. (i) If the Security Agent receives a High Yield Acceleration Event occurs Senior Parent Enforcement Notice under paragraph (b) of Clause 6.9 (Permitted Senior Parent enforcement) or a Super Senior/Senior/Second Lien Parent Payment Stop Notice under paragraph (a)(ii) of Clause 6.3 (Issue of Super Senior/Senior/Second Lien Parent Payment Stop Notice) it shall, upon receiving that notice, notify, and send a copy of that notice to, each other Agent, each Operating Facility Lender and each Hedge Counterparty. (j) If the relevant High Yield Representative(sSecurity Agent enforces, or takes formal steps to enforce, any of the Transaction Security it shall notify each other Party of that action. (k) If any Primary Creditor or Operating Facility Lender exercises any right it may have to enforce, or to take formal steps to enforce, any of the Transaction Security it shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each Party of that action. (l) If a Debtor defaults on any Payment due under a Hedging Agreement, the Hedge Counterparty which is party to that Hedging Agreement shall, upon becoming aware of that default, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Agent and each other Hedge Counterparty. (m) If a Hedge Counterparty terminates or closes-out, in whole or in part, any hedging transaction under any Hedging Agreement under Clause 4.9 (Permitted Enforcement: Hedge Counterparties) it shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other PartyAgent, each Operating Facility Lender and each other Hedge Counterparty. (jn) If a Debtor defaults on any Payment due under an Unsecured Acceleration Event occurs Operating Facility Document, the relevant Unsecured Representative(s) shall Operating Facility Lender which is party to that Operating Facility Document shall, upon becoming aware of that default, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other PartyAgent, each Hedge Counterparty and each other Operating Facility Lender. (ko) If the Security Agent receives a Second Lien Enforcement Notice notice under paragraph (a) of Clause 8.12 3.8 (Option to purchase: Senior Notes Creditors and Permitted Senior Financing Creditors) it shall upon receiving that notice, notify, and send a copy of that notice to, the Senior Term Agent. (p) If the Security Agent receives a notice under paragraph (a) of Clause 3.9 (Hedge Transfer: Senior Notes Creditors and Permitted Senior Financing Creditors) it shall upon receiving that notice, notify, and send a copy of that notice to, each Hedge Counterparty.

Appears in 1 contract

Samples: Commitment Letter

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Notification of prescribed events. (a) If a Senior Default or a Senior Secured Notes Default or a Pari Passu Debt Event of Default either occurs or ceases to be continuing the Senior Agent, Senior Secured Notes Representative(s) or Pari Passu Debt Representative(s) (as applicable) Agent shall, upon becoming aware of that occurrence or cessation, notify the Second Lien Security Agent and the Second Lien Security Agent shall, upon receiving that notification, notify the Second Lien Representative(s), the High Yield Representative(s), the Unsecured Representative(s), any other Senior Secured Representative and each Hedge CounterpartyAgent. (b) If a Senior Acceleration Event occurs, the Senior Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (c) If a Senior Secured Notes Acceleration Event occurs the relevant Senior Secured Notes Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (d) If a Pari Passu Debt Acceleration Event occurs the relevant Pari Passu Debt Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (e) If a Second Lien Event of Default either occurs or ceases to be continuing the relevant Second Lien Representative(s) Agent shall, upon becoming aware of that occurrence or cessation, notify the Senior Security Agent and the Senior Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), any other Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterparty. (fc) If a High Yield Senior Payment Default either occurs or ceases to be continuing the relevant High Yield Representative(s) shall, upon becoming aware of that occurrence or cessation, Senior Agent shall notify the Second Lien Security Agent and the Second Lien Security Agent shall, upon receiving that notification, notify the Second Lien Agent. (d) If a Senior Agent, Acceleration Event occurs the Senior Secured Notes Representative(s), Agent shall notify the Pari Passu Debt Representative(s), any other High Yield Representative(s), Borrower and the Second Lien Representative(sAgent. (e) If a Second Lien Acceleration Event occurs the Second Lien Agent shall notify each other Party. (f) If any Second Lien Creditor takes any action permitted under Clause 4.9 (Limited Permitted Enforcement: Second Lien Creditors), the Unsecured Representative(s) and such Second Lien Creditor shall promptly notify each Hedge CounterpartyFacility Agent. (g) If an Unsecured Default either occurs the Senior Security Agent (or, following the Senior Discharge Date, the Second Lien Security Agent) enforces, or ceases takes formal steps to be continuing enforce, any of the relevant Unsecured Representative(sTransaction Security it shall notify each Facility Agent of that action. (h) If any Primary Creditor exercises any right it may have to enforce, or to take formal steps to enforce, any of the Transaction Security it shall notify the Senior Security Agent (or, following the Senior Discharge Date, the Second Lien Security Agent) and the Senior Security Agent (or, following the Senior Discharge Date, the Second Lien Security Agent) shall, upon becoming aware receiving that notification, notify each Party of that occurrence or cessation, action. (i) If a Senior Mandatory Prepayment is waived the Senior Agent shall notify the Second Lien Security Agent of the amount of the Senior Mandatory Prepayment waived and the Second Lien Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), the Second Lien Representative(s), any other Unsecured Representative(s) and each Hedge Counterparty. (h) If a Second Lien Acceleration Event occurs the relevant Second Lien Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (i) If a High Yield Acceleration Event occurs the relevant High Yield Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other PartyAgent. (j) If an Unsecured Acceleration Event occurs the relevant Unsecured Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (k) If the Senior Security Agent receives a Second Lien Enforcement Notice notice under paragraph (a) of Clause 8.12 4.10 (

Appears in 1 contract

Samples: Intercreditor Agreement (Globalstar, Inc.)

Notification of prescribed events. (a) If a Senior Default or a Senior Secured Notes Default or a Pari Passu Debt Revolving Facility Event of Default either occurs or ceases to be continuing the Senior Agent, Senior Secured Notes Representative(s) or Pari Passu Debt Representative(s) (as applicable) relevant Revolving Agent shall, upon becoming aware of that occurrence or cessation, notify the Security Agent Trustee and the Security Agent Trustee shall, upon receiving that notification, notify the Second Lien Representative(s), the High Yield Representative(s), the Unsecured Representative(s), any other Senior Secured Representative and each Hedge Counterparty. (b) If a Senior Acceleration Secured Notes Event occursof Default either occurs or ceases to be continuing the relevant Senior Secured Notes Trustee shall, the Senior Agent shall upon becoming aware of that occurrence or cessation, notify the Security Agent Trustee and the Security Agent Trustee shall, upon receiving that notification, notify each other PartyHedge Counterparty. (c) If a Senior Secured Notes Revolving Acceleration Event occurs the relevant Senior Secured Notes Representative(s) Revolving Agent shall notify the Security Agent Trustee and the Security Agent Trustee shall, upon receiving that notification, notify each other Party. (d) If a Pari Passu Debt Senior Secured Notes Acceleration Event occurs the relevant Pari Passu Debt Representative(s) Senior Secured Notes Trustee shall notify the Security Agent Trustee and the Security Agent Trustee shall, upon receiving that notification, notify each other Party. (e) If a Second Lien Default either occurs the Security Trustee enforces, or ceases takes formal steps to be continuing enforce, any of the relevant Second Lien Representative(s) shall, upon becoming aware Transaction Security it shall notify each Party of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), any other Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterpartyaction. (f) If a High Yield Default either occurs any Primary Creditor exercises any right it may have to enforce, or ceases to be continuing the relevant High Yield Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s)take formal steps to enforce, any other High Yield Representative(s), of the Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterparty. (g) If an Unsecured Default either occurs or ceases to be continuing the relevant Unsecured Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Transaction Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), the Second Lien Representative(s), any other Unsecured Representative(s) and each Hedge Counterparty. (h) If a Second Lien Acceleration Event occurs the relevant Second Lien Representative(s) it shall notify the Security Agent Trustee and the Security Agent Trustee shall, upon receiving that notification, notify each other PartyParty of that action. (ig) If a High Yield Acceleration Event occurs Debtor defaults on any Payment due under a Hedging Agreement, the relevant High Yield Representative(s) shall Hedge Counterparty which is party to that Hedging Agreement shall, upon becoming aware of that default, notify the Security Agent Trustee and the Security Agent Trustee shall, upon receiving that notification, notify each Revolving Agent, each other PartyHedge Counterparty and each Senior Secured Notes Trustee. (jh) If an Unsecured Acceleration Event occurs the relevant Unsecured Representative(sa Hedge Counterparty terminates or closes-out, in whole or in part, any hedging transaction under any Hedging Agreement under Clause 4.9 (Permitted Enforcement: Hedge Counterparties) it shall notify the Security Agent Trustee and the Security Agent Trustee shall, upon receiving that notification, notify each Representative and each other PartyHedge Counterparty. (k) If the Security Agent receives a Second Lien Enforcement Notice under paragraph (a) of Clause 8.12 (

Appears in 1 contract

Samples: Intercreditor Agreement (InterXion Holding N.V.)

Notification of prescribed events. (a) If: (i) a Senior Event of Default either occurs or ceases to be continuing; or (ii) a Senior Acceleration Event occurs, the Senior Agent shall, upon becoming aware of that occurrence, cessation or action, notify the Junior Lenders or Junior Trustee on their behalf in writing (with a copy to the Security Agent) for information purposes provided that any failure to notify the Junior Lenders or Junior Trustee on their behalf shall not give rise to any liability for, or claim against, the Senior Agent, the Security Agent or any Senior Lender. (b) If a Senior Junior Default or a Senior Secured Notes Default or a Pari Passu Debt Junior Event of Default either occurs or ceases to be continuing the Senior Agent, Senior Secured Notes Representative(s) Junior Lenders or Pari Passu Debt Representative(s) (as applicable) Junior Trustee on their behalf shall, upon becoming aware of that occurrence or cessation, notify the Security Senior Agent and the Security Agent shall, upon receiving that notification, notify the Second Lien Representative(s), the High Yield Representative(s), the Unsecured Representative(s), any other Senior Secured Representative and each Hedge Counterparty. (b) If a Senior Acceleration Event occurs, the Senior Agent shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Partyin writing. (c) If a Senior Secured Notes Junior Acceleration Event occurs the relevant Senior Secured Notes Representative(s) Junior Lenders or Junior Trustee on their behalf shall notify the Security Agent in writing and the Security Agent shall, upon receiving that notification, notify each other Party. (d) If a Pari Passu Debt Acceleration Event occurs the relevant Pari Passu Debt Representative(sSecurity Agent enforces, or takes formal steps to enforce, any of the Transaction Security, it shall notify each Party of that action. (e) If any Senior Creditor exercises any right it may have to enforce, or to take formal steps to enforce, any of the Transaction Security it shall notify the Security Agent in writing and the Security Agent shall, upon receiving that notification, notify each other Party. (e) If a Second Lien Default either occurs or ceases to be continuing the relevant Second Lien Representative(s) shall, upon becoming aware Party of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), any other Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterpartyaction. (f) If a High Yield Default either occurs or ceases The Debtors shall deliver to be continuing the relevant High Yield Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), any other High Yield Representative(s), the Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterparty. (g) If an Unsecured Default either occurs or ceases to be continuing the relevant Unsecured Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), the Second Lien Representative(s), any other Unsecured Representative(s) and each Hedge Counterparty. (h) If a Second Lien Acceleration Event occurs the relevant Second Lien Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (i) If a High Yield Acceleration Event occurs the notices and information required to be delivered to the Senior Creditors under Section 5.2(b) (Notice of Defaults or Events of Default, ERISA Events and Material Adverse Changes) of the Senior Loan Agreement, to the relevant High Yield Representative(s) shall notify Junior Lenders under Clause 6.3 of Schedule 2 of the Security Agent and the Security Agent shall2019 Junior Note Agreement, upon receiving that notification, notify each other Party. (j) If an Unsecured Acceleration Event occurs to the relevant Unsecured Representative(sJunior Lenders under Clause 6.3 of Schedule 2 of the 2020 Junior Note Agreement and (ii) shall notify each amendment to and consent and waiver granted under the Security Agent and the Security Agent shallSenior Loan Agreement or any Junior Note Agreement, upon receiving that notification, notify each other Partyrespectively. (k) If the Security Agent receives a Second Lien Enforcement Notice under paragraph (a) of Clause 8.12 (

Appears in 1 contract

Samples: Intercreditor Agreement (LumiraDx LTD)

Notification of prescribed events. (a) If a Senior an Event of Default or Default under a Credit Facility Document or Senior Secured Notes Default Note Document or a Pari Passu Debt Default Second Lien Note Document either occurs or ceases to be continuing the Senior Agent, Senior Secured Notes Representative(s) or Pari Passu Debt Representative(s) (as applicable) relevant Creditor Representative shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Second Lien Representative(s), the High Yield Representative(s), the Unsecured Representative(s), any each other Senior Secured Representative and each Hedge CounterpartyCreditor Representative. (b) If a Senior Credit Facility Acceleration Event occurs, occurs the Senior Agent relevant Creditor Representative for the Credit Facility shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Parent and each other PartyCreditor Representative. (c) If a Senior Secured Notes Note Acceleration Event occurs the relevant Senior Secured Notes Creditor Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Parent and each other PartyCreditor Representative. (d) If a Pari Passu Debt Second Lien Note Acceleration Event occurs the relevant Pari Passu Debt Creditor Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Parent and each other PartyCreditor Representative. (e) If a Second Lien Default either occurs or ceases to be continuing the relevant Second Lien Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shallenforces, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s)or takes formal steps to enforce, any other Second Lien Representative(s), of the Unsecured Representative(s) and Transaction Security it shall notify each Hedge CounterpartyCreditor Representative of that action. (f) If a High Yield Default either occurs any Primary Creditor exercises any right it may have to enforce, or ceases to be continuing the relevant High Yield Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s)take formal steps to enforce, any other High Yield Representative(s), of the Second Lien Representative(s), the Unsecured Representative(s) and each Hedge Counterparty. (g) If an Unsecured Default either occurs or ceases to be continuing the relevant Unsecured Representative(s) shall, upon becoming aware of that occurrence or cessation, notify the Transaction Security Agent and the Security Agent shall, upon receiving that notification, notify the Senior Agent, the Senior Secured Notes Representative(s), the Pari Passu Debt Representative(s), the High Yield Representative(s), the Second Lien Representative(s), any other Unsecured Representative(s) and each Hedge Counterparty. (h) If a Second Lien Acceleration Event occurs the relevant Second Lien Representative(s) it shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other PartyCreditor Representative of that action. (i) If a High Yield Acceleration Event occurs the relevant High Yield Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (j) If an Unsecured Acceleration Event occurs the relevant Unsecured Representative(s) shall notify the Security Agent and the Security Agent shall, upon receiving that notification, notify each other Party. (kg) If the Security Agent receives a Second Lien Enforcement Notice notice under paragraph (a) of Clause 8.12 5.1 (Option to purchase: Senior Secured Note Creditors) or Clause 5.2 (Option to purchase: Second Lien Note Creditors) it shall upon receiving that notice, notify, and send a copy of that notice to, each Creditor Representative for the Credit Facility.

Appears in 1 contract

Samples: Intercreditor Agreement (Global Ship Lease, Inc.)

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