Common use of Secured Debt Default Clause in Contracts

Secured Debt Default. The Collateral Agent will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act of Required Secured Parties.

Appears in 8 contracts

Samples: Collateral Agency and Intercreditor Agreement (Diamond Offshore Drilling, Inc.), Collateral Agency Agreement, Collateral Agency Agreement (Gogo Inc.)

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Secured Debt Default. The Collateral Agent will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act receives a Notice of Required Secured PartiesActionable Default.

Appears in 4 contracts

Samples: Collateral Trust Agreement (Banro Corp), Collateral Trust Agreement (Banro Corp), Collateral Trust Agreement (ICO Global Communications (Holdings) LTD)

Secured Debt Default. The Collateral Agent will not be required to inquire as to the occurrence or absence of any Secured Debt Default default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default default unless and until it is directed by an Act of Required Secured Partiesa Securityholder Instruction.

Appears in 2 contracts

Samples: Security and Collateral Agency Agreement, Security and Collateral Agency Agreement (Expressjet Holdings Inc)

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Secured Debt Default. The Collateral Agent will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act of Required Secured PartiesDebtholders.

Appears in 1 contract

Samples: Security and Pledge Agreement (Calpine Corp)

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