Common use of Rescission of Activation Notice Clause in Contracts

Rescission of Activation Notice. Notwithstanding any of the provisions of Section 9.02, after Collateral Agents have delivered an Activation Notice and upon delivery of a certificate (provided, such certificate may not be delivered more than once in any 360 day period) by a Financial Officer of the Borrowers to the Collateral Agents certifying that (i) the Average Excess Availability has exceeded $70 million for the previous fiscal quarter and (ii) no Default has occurred or is continuing, the Collateral Agents shall rescind the Activation Notice by written notice, as necessary, to the applicable Concentration Account Banks and any such other banks to which Collateral Agents had issued such Activation Notice and following such rescission the Cash Management System shall be operated as if no such Activation Notice had been given.

Rescission of Activation Notice. Notwithstanding any of the provisions of Section 9.029.02 to the contrary, after Collateral Agents have Agent has delivered an Activation Notice and upon delivery of a certificate (provided, such certificate may not be delivered more than once in any 360 day period) by a Financial Officer of the Borrowers Parent Borrower to the Collateral Agents Agent certifying that (i) the Average Excess Availability has exceeded $70 million 10,000,000 for the previous fiscal quarter and (ii) no Default has occurred or is continuing, the Collateral Agents Agent shall rescind the Activation Notice by written notice, as necessary, to the applicable Concentration Account Banks and any such other banks to which Collateral Agents Agent had issued such Activation Notice and following such rescission the Cash Management System shall be operated as if no such Activation Notice had been given.

Rescission of Activation Notice. Notwithstanding any of the provisions of Section 9.02, after Collateral Agents have delivered an Activation Notice and upon delivery of a certificate (provided, such certificate may not be delivered more than once in any 360 day period) by a Financial Officer of the Borrowers to the Collateral Agents certifying that (i) the Average Excess Availability has exceeded $70 90 million for the previous fiscal quarter and (ii) no Default has occurred or is continuing, the Collateral Agents shall rescind the Activation Notice by written notice, as necessary, to the applicable Concentration Account Banks and any such other banks to which Collateral Agents had issued such Activation Notice and following such rescission the Cash Management System shall be operated as if no such Activation Notice had been given.

Rescission of Activation Notice. Notwithstanding any of the provisions of Section 9.02, after Collateral Agents have delivered an Activation Notice and upon delivery of a certificate (provided, such certificate may not be delivered more than once in any 360 day period) by a Financial Officer of the Borrowers to the Collateral Agents certifying that (i) the Average Excess Availability has exceeded $70 90 million for the previous fiscal quarter and (ii) no Default has occurred or is continuing, the Collateral Agents shall rescind the Activation Notice by written notice, as necessary, to the applicable Concentration Account Banks and any such other banks to which Collateral Agents had issued such Activation Notice and following such rescission the Cash Management System shall be operated as if no such Activation Notice had been given.. ARTICLE