SECTION NOTICES OF CERTAIN SURETY DEFAULTS Sample Clauses

SECTION NOTICES OF CERTAIN SURETY DEFAULTS. At all times during the Term of the Surety Bond, Surety shall give written notice to Lender, Trustee and the Lessee (i) promptly and in any case not later than ten (10) days after Surety becomes aware of any Downgrade Surety Default (a "DOWNGRADE NOTICE FROM SURETY"), and (ii) promptly and in any case not later than ten (10) days after Surety has received written notice of the existence of a Surety Cross-Default, although the failure to provide (absent Surety bad faith) either of the notices set forth in clauses (i) or (ii) above shall not result in forfeiture of Surety Premiums or benefits owed to Surety. As used in this Trust Agreement, the "TRIGGER DATE" shall mean that date that is the earliest of (x) Lender's receipt of the Downgrade Notice From Surety (or Surety's bad faith in failing to give Lender notice of a Downgrade Surety Default), (y) Lender's receipt of notice from Surety of existence of a Surety Cross-Default (or Surety's bad faith in failing to give Lender notice of a Surety Cross-Default), and (z) notice from Lender or Trustee to Surety of the existence of a Surety Default.
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Related to SECTION NOTICES OF CERTAIN SURETY DEFAULTS

  • Notices of Certain Events Each of the Company and Parent shall promptly notify the other of:

  • Notices of Certain Changes Promptly, but in any event within five (5) Business Days after the execution thereof, copies of any amendment, modification or supplement to the certificate or articles of incorporation, by-laws, any preferred stock designation or any other organic document of the Borrower or any Subsidiary.

  • Notices of Certain Transactions In case:

  • Notices of Events of Default As promptly as practicable after, and in any event within 30 days after, the occurrence of any Event of Default actually known to the Trustee, the Trustee shall give notice of such Event of Default to the Depository, or, if any Certificates are not then held by DTC or any other depository, directly to the registered holders of such Certificates, and to the Warrant Agent. However, except in the case of an Event of Default relating to the payment of principal of or interest on any of the Underlying Securities, the Trustee will be protected in withholding such notice if in good faith it determines that the withholding of such notice is in the interest of the Certificateholders.

  • Notice of Certain Events If the Company proposes at any time to:

  • Notices of Defaults The Borrower will furnish to the Administrative Agent and each Lender prompt written notice of the occurrence of any Default, together with a statement of a Financial Officer or other executive officer of the Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto.

  • Default Notices To Agent and Lenders, as soon as practicable, and in any event within five (5) Business Days after an executive officer of any Borrower has actual knowledge of the existence of any Default, Event of Default or other event that has had a Material Adverse Effect, telephonic or telecopied notice specifying the nature of such Default or Event of Default or other event, including the anticipated effect thereof, which notice, if given telephonically, shall be promptly confirmed in writing on the next Business Day.

  • Notices of Default Seller and Purchaser shall each promptly give written notice to the other upon becoming aware of the impending or threatened occurrence of any event which could reasonably be expected to cause or constitute a breach of any of their respective representations, warranties, covenants or agreements contained in this Agreement.

  • Notice of Certain Matters Give Agent written notice of the following promptly after any executive officer of Borrower shall become aware of the same:

  • Notices of Defaults and Extensions (a) Within ninety (90) days after the occurrence of a default actually known to the Property Trustee, the Property Trustee shall transmit notice of such default to the Holders, the Administrative Trustees and the Depositor, unless such default shall have been cured or waived. For the purpose of this Section 8.6, the term “default” means any event that is, or after notice or lapse of time or both would become, an Event of Default.

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