Common use of Other Facility Default Clause in Contracts

Other Facility Default. Borrower shall give notice to Lender in writing within (A) two (2) Business Days of knowledge by any Responsible Officer of any occurrence of any Other Facility Default, and (B) five (5) Business Days of knowledge by any Responsible Officer of any occurrence of any Default or any default or material dispute among the parties under any Intercreditor Agreement or Cash Management Agreement; provided that, as soon as possible, but in any event within three (3) Business Days after any Responsible Officer of Borrower has knowledge of any Other Facility Default, Borrower shall furnish to the Lender a written statement of a Responsible Officer setting forth details of such Other Facility Default, along with a written statement from a Responsible Officer setting forth the action that Borrower has taken or proposes to take with respect to such Other Facility Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Mr. Cooper Group Inc.), Loan and Security Agreement (Mr. Cooper Group Inc.)

AutoNDA by SimpleDocs

Other Facility Default. Borrower shall give notice to Lender Xxxxxx in writing within (A) two (2) Business Days of knowledge by any Responsible Officer of any occurrence of any Other Facility Default, and (B) five (5) Business Days of knowledge by any Responsible Officer of any occurrence of any Default or any default or material dispute among the parties under any Intercreditor Agreement or Cash Management Agreement; provided that, as soon as possible, but in any event within three (3) Business Days after any Responsible Officer of Borrower has knowledge of any Other Facility Default, Borrower shall furnish to the Lender a written statement of a Responsible Officer setting forth details of such Other Facility Default, along with a written statement from a Responsible Officer setting forth the action that Borrower Xxxxxxxx has taken or proposes to take with respect to such Other Facility Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Mr. Cooper Group Inc.)

AutoNDA by SimpleDocs

Other Facility Default. Borrower shall give notice to Lender in writing within (A) two (2) Business Days of knowledge by any Responsible Officer of any occurrence of any Other Facility Default, and (B) five (5) Business Days of knowledge by any Responsible Officer of any occurrence of any Default or any default or material dispute among the parties under any Intercreditor Agreement or Cash Management Agreement; provided that, as soon as possible, but in any event within three (3) Business Days after any Responsible Officer of Borrower has knowledge of any Other Facility Default, Borrower shall furnish to the Lender a written statement of a Responsible Officer setting forth details of such Other Facility Default, along with a written statement from a Responsible Officer setting forth the action that Borrower Xxxxxxxx has taken or proposes to take with respect to such Other Facility Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Mr. Cooper Group Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!