Common use of Senior Loan Default Clause in Contracts

Senior Loan Default. Prior to Senior Lender commencing any Enforcement Action under the Senior Loan Documents, Senior Lender shall provide written notice of such default to each Junior Lender and any Loan Pledgee entitled to notice thereof pursuant to Section 16 hereof, whether or not Senior Lender is obligated to give notice thereof to Borrower (each, a “Senior Loan Default Notice”) and shall provide each Junior Lender and any Loan Pledgee with an opportunity to cure such default in accordance with the provisions of this Section 12. In the event Senior Lender has delivered a Senior Loan Default Notice pursuant to Sections 12(a)(i) or (ii) below which has not been cured by a Junior Lender, Senior Lender shall provide the Junior Lenders with copies of any and all material notices relating to such Event of Default, pleadings, agreements, motions and briefs served upon, delivered to or with any party to any Enforcement Action and otherwise keep the Junior Lenders reasonably apprised as to the current status of any Enforcement Action. Prior to or concurrently with undertaking any curative action with respect to the Senior Loan, a Junior Lender shall provide the other Junior Lenders with written notice thereof. Senior Lender shall permit the Junior Lenders an opportunity to cure such default before completing any Enforcement Action in accordance with the following terms:

Senior Loan Default. Prior to Senior Lender commencing any Enforcement Action under the Senior Loan Documents, Senior Lender shall provide written notice of such the default triggering the Enforcement Action to each Junior Lender and any Loan Pledgee entitled to notice thereof pursuant to Section 16 hereofof this Agreement, whether or not Senior Lender is obligated to give notice thereof to Senior Borrower (each, a “Senior Loan Default Notice”) and shall provide each Junior Lender and any Loan Pledgee with an opportunity to cure such default in accordance with the provisions of this Section 12). In the event Senior Lender has delivered a Senior Loan Default Notice pursuant to Sections 12(a)(i) or (ii) below regarding an Event of Default which has not been cured by a Junior Lender, Senior Lender shall provide the Junior Lenders with copies of any and all material notices relating to such the Event of DefaultDefault(s) cited in the Senior Loan Default Notice, including pleadings, agreements, motions and briefs served upon, delivered to or with any party to any Enforcement Action Action, and otherwise keep the Junior Lenders reasonably apprised as to the current status of any Enforcement Action. Prior to or concurrently with undertaking any curative action with respect to the Senior Loan, a Junior Lender shall provide the other Junior Lenders with written notice thereof. Senior Lender shall permit the Junior Lenders and any Loan Pledgee an opportunity to cure such default before completing any Enforcement Action in accordance with the following terms:

Senior Loan Default. Prior to Senior Lender commencing any Enforcement Action under the Senior Loan Documents, Senior Lender shall provide written notice of such default to each Junior Lender and any Loan Pledgee entitled to notice thereof pursuant to Section 16 hereofof this Agreement, whether or not Senior Lender is obligated to give notice thereof to Senior Borrower (each, a “Senior Loan Default Notice”) and shall provide each Junior Lender and any Loan Pledgee with an opportunity to cure such default in accordance with the provisions of this Section 12). In the event Senior Lender has delivered a Senior Loan Default Notice pursuant to Sections 12(a)(i) or (ii) below which has not been cured by a Junior Lender, Senior Lender shall provide the Junior Lenders with copies of any and all material notices relating to such Event of Default, pleadings, agreements, motions and briefs served upon, delivered to or with any party to any Enforcement Action and otherwise keep the Junior Lenders reasonably apprised as to the current status of any Enforcement Action. Prior to or concurrently with undertaking any curative action with respect to the Senior Loan, a Junior Lender shall provide the other Junior Lenders with written notice thereof. Senior Lender shall permit the Junior Lenders an opportunity to cure such default before completing any Enforcement Action in accordance with the following terms:

Senior Loan Default. Prior to Senior Lender commencing any Enforcement Action under the Senior Loan Documents, Senior Lender shall provide written notice of such default to each Junior Lender and any Loan Pledgee entitled to notice thereof pursuant to Section 16 hereofof this Agreement, whether or not Senior Lender is obligated to give notice thereof to Senior Borrower (each, a “"Senior Loan Default Notice”) and shall provide each Junior Lender and any Loan Pledgee with an opportunity to cure such default in accordance with the provisions of this Section 12"). In the event Senior Lender has delivered a Senior Loan Default Notice pursuant to Sections 12(a)(i) or (ii) below which has not been cured by a Junior Lender, Senior Lender shall provide the Junior Lenders with copies of any and all material notices relating to such Event of Default, pleadings, agreements, motions and briefs served upon, delivered to or with any party to any Enforcement Action and otherwise keep the Junior Lenders reasonably apprised as to the current status of any Enforcement Action. Prior to or concurrently with undertaking any curative action with respect to the Senior Loan, a Junior Lender shall provide the other Junior Lenders with written notice thereof. Senior Lender shall permit the Junior Lenders an opportunity to cure such default before completing any Enforcement Action in accordance with the following terms: