Common use of Officer's Knowledge of Default Clause in Contracts

Officer's Knowledge of Default. Upon any officer of the Borrower or the Parent obtaining knowledge of any Default or Event of Default hereunder or under any other obligation of the Borrower, the Parent or any of their Subsidiaries or any other Credit Party to any Lender, or any event, development or occurrence which could reasonably be expected to have a Material Adverse Effect, cause such officer or an Authorized Representative to promptly notify the Agent of the nature thereof, the period of existence thereof, and what action the Borrower, the Parent, such Subsidiary or other Credit Party proposes to take with respect thereto.

Appears in 2 contracts

Samples: Credit Agreement (Covenant Transport Inc), Credit Agreement (Covenant Transport Inc)

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Officer's Knowledge of Default. Upon any officer of the Borrower or the Parent ------------------------------ obtaining knowledge of any Default or Event of Default hereunder or under any other obligation of the Borrower, the Parent Borrower or any of their Subsidiaries Subsidiary or any other Credit Party to any Lender, or any event, development or occurrence which could reasonably be expected to have a Material Adverse Effect, cause such officer or an Authorized Representative to promptly notify the Agent (who shall promptly notify the Lenders) of the nature thereof, the period of existence thereof, and what action the Borrower, the Parent, Borrower or such Subsidiary or other Credit Party proposes to take with respect thereto.

Appears in 1 contract

Samples: Credit Agreement (Health Management Associates Inc)

Officer's Knowledge of Default. Upon any officer of the Borrower or the Parent obtaining knowledge of any Default or Event of Default hereunder or under any other obligation of the Borrower, the Parent or any of their Subsidiaries or any other Credit Loan Party to any Lender, or any event, development or occurrence which could reasonably be expected to have a Material Adverse Effect, cause such officer or an Authorized Representative a Responsible Officer to promptly notify the Administrative Agent of the nature thereof, the period of existence thereof, and what action the Borrower, the Parent, such Subsidiary or other Credit Loan Party proposes to take with respect thereto.

Appears in 1 contract

Samples: Credit Agreement (Covenant Transport Inc)

Officer's Knowledge of Default. Upon any officer of the Borrower or the Parent Guarantor obtaining knowledge of any Default or Event of Default hereunder under the Credit Agreement or under any other obligation of the Borrowerany Parent Guarantor, the Parent Borrower or any of their Subsidiaries Subsidiary or any other Credit Party to any Lender, or any event, development or occurrence which could reasonably be expected to have a Material Adverse Effect, cause such officer or an Authorized Representative to promptly notify the Agent of the nature thereof, the period of existence thereof, and what action the Borrowersuch Parent Guarantor, the Parent, Borrower or such Subsidiary or other Credit Party proposes to take with respect thereto.;

Appears in 1 contract

Samples: Parent Guarantor Guaranty Agreement (Aircastle LTD)

Officer's Knowledge of Default. Upon any officer either the Chief Executive Officer, the Chief Financial Officer or Treasurer of the Borrower or the Parent obtaining knowledge of any Default or Event of Default hereunder or under any other obligation of the Borrower, the Parent Borrower or any of their Subsidiaries Subsidiary or any other Credit Party to any Lender, or any event, development or occurrence which could would reasonably be expected to have a Material Adverse Effect, cause such officer or an Authorized Representative to promptly notify the Administrative Agent of the nature thereof, the period of existence thereof, and what action the Borrower, the Parent, Borrower or such Subsidiary or other Credit Party proposes to take with respect thereto.

Appears in 1 contract

Samples: Security Agreement (Ameristeel Corp)

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Officer's Knowledge of Default. Upon any officer either the Chief Executive Officer, the Chief Financial Officer or Assistant Treasurer of the Borrower or the Parent obtaining knowledge of any Default or Event of Default hereunder or under any other obligation of the Borrower, the Parent Borrower or any of their Subsidiaries Subsidiary or any other Credit Party to any Lender, or any event, development or occurrence which could would reasonably be expected to have a Material Adverse Effect, cause such officer or an Authorized Representative to promptly notify the Administrative Agent of the nature thereof, the period of existence thereof, and what action the Borrower, the Parent, Borrower or such Subsidiary or other Credit Party proposes to take with respect thereto.;

Appears in 1 contract

Samples: Security Agreement (Ameristeel Finance Inc)

Officer's Knowledge of Default. Upon any officer either the Chief Executive ------------------------------ Officer, the Chief Financial Officer or Assistant Treasurer of the Borrower or the Parent obtaining knowledge of any Default or Event of Default hereunder or under any other obligation of the Borrower, the Parent Borrower or any of their Subsidiaries Subsidiary or any other Credit Party to any Lender, or any event, development or occurrence which could would reasonably be expected to have a Material Adverse Effect, cause such officer or an Authorized Representative to promptly notify the Administrative Agent of the nature thereof, the period of existence thereof, and what action the Borrower, the Parent, Borrower or such Subsidiary or other Credit Party proposes to take with respect thereto.

Appears in 1 contract

Samples: Guaranty Agreement (Ameristeel Corp)

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