Sharing Notice Sample Clauses

Sharing Notice. Upon obtaining knowledge of the occurrence of any Default, a Lender (or the Bank Agent with respect to a Default under the Credit Agreement) shall immediately notify the Collateral Agent and the Collateral Agent shall immediately give notice (a “Sharing Notice”) to each of the Lenders informing them that the provisions of this Agreement are to be implemented and requiring each Lender to provide it with all necessary information to enable it to calculate (a) such Lender’s Funded Obligations and Financial Obligations (including, without limitation, an itemization of all principal, interest, Breakage Costs, Make-Whole Amount, fees, costs and expenses owing to such Lender) as of the Sharing Commencement Date, (b) the Sharing Percentage of such Lender as of the Sharing Commencement Date and (c) any other amounts required to be calculated under this Agreement. If any necessary information is not received by the Collateral Agent within three days after the Collateral Agent delivers the Sharing Notice, the Collateral Agent may request such information from any other Lender that is a party to the applicable Credit Facility. If any such necessary information has not been provided to the Collateral Agent within two days after the Collateral Agent makes such supplemental request, the Collateral Agent may proceed with its calculations based upon the other information available to it and which it reasonably and in good faith believes to be correct. Once the Collateral Agent has either received such necessary information or has determined to proceed based upon such other information available to it, the Collateral Agent shall calculate and promptly notify the Lenders as to the relevant calculations, which notice shall demonstrate such calculations in reasonable detail. If the Collateral Agent thereafter receives information which demonstrates that the Collateral Agent’s prior calculations were erroneous, the Collateral Agent shall recalculate such calculations and shall promptly notify all Lenders of such recalculations and, if any payments pursuant to this Agreement have been made based upon such erroneous prior calculations, the amount to be repaid by or paid to such Lender as a result of such recalculations. Each Lender that has received an excess payment as a result of such erroneous prior calculations shall promptly (and in any event within five Business Days after its receipt of the Collateral Agent’s recalculations) repay to the Collateral Agent for the account of...
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Sharing Notice. Upon receipt by the Collateral Agent of: (a) notice from the Majority Bank Lenders of the acceleration and maturity of any amount outstanding under the Loan Agreement, the LaSalle Notes or any Security Document as a consequence of an Event of Default thereunder; or (b) notice from the Majority Note Lenders of the acceleration and maturity of any amount outstanding under the Note Agreement, the Notes or any Security Document as a consequence of an Event of Default thereunder; the Collateral Agent shall give notice (a "Sharing Notice") to each of the Beneficiaries informing it of the occurrence of such Event of Default and acceleration and requiring each Beneficiary to provide the Collateral Agent with all necessary information to enable the Collateral Agent to calculate such Beneficiary's pro rata share of any proceeds resulting from a foreclosure upon the Collateral, in accordance with Section 5.2 hereof. For purposes of this Section 5.1, such necessary information for each Beneficiary shall include (i) a statement as to whether it holds Note Obligations or LaSalle Obligations, (ii) the amount of outstanding principal owed to such Beneficiary, (iii) the amount of accrued and unpaid interest owed to such Beneficiary, and (iv) all other information sufficient to permit the Collateral Agent to calculate accrued and unpaid interest on the amounts owed to such Beneficiary as of the date of any distribution hereunder. Upon receipt of such information, the Collateral Agent shall calculate and promptly notify the Beneficiaries as to any distribution to which each Beneficiary is entitled pursuant to Section 5.2. Any Sharing Notice shall be effective as of the date it is sent by the Collateral Agent and shall remain effective until all the Beneficiaries agree that such Sharing Notice is no longer in effect.
Sample 1
Sharing Notice. The Collateral Agent shall upon receipt of a Notice of Default give written notice to each of the Creditors and Company advising each party that a Notice of Default has been received, informing each party of the contents of the Notice of Default and advising each party that the provisions of this Section 6.1 are to be implemented effective as of the date of the Notice of Default (hereinafter referred to as a "Sharing Notice"). Within three (3) business days following receipt of a Sharing Notice, each Creditor which is not a Bank and the Agent on behalf of each of the Banks shall provide to Collateral Agent and Company in writing a summary of the amount of the Secured Obligations due to each Creditor as of the date of the Sharing Notice. Collateral Agent shall prepare a written summary of the Secured Obligations due to each Creditor individually and the total Secured Obligations due to all Creditors in the aggregate ("Total Secured Obligations"). The Total Secured Obligations summary shall be updated each time Collateral Agent makes a Payment Distribution. Collateral Agent shall deliver the Total Secured Obligations summary to each Creditor and to Company each time a Payment Distribution is made or at any other time if requested by any Creditor in writing. Any Sharing Notice shall be effective as of the date it is sent by the Collateral Agent and shall remain effective until a Notice of Cancellation has been delivered to the Collateral Agent.
Sample 1

Related to Sharing Notice

  • CAFA Notice Pursuant to 28 U.S.C. § 1715, not later than ten (10) days after the Agreement is filed with the Court, the Settlement Administrator shall cause to be served upon the Attorneys General of each U.S. State in which Settlement Class members reside, the Attorney General of the United States, and other required government officials, notice of the proposed settlement as required by law, subject to Paragraph 5.1 below.

  • Termination Warning Notice B The Secretary of State may serve a Termination Warning Notice where he considers that:

  • Funding Notice Administrative Agent shall have received a fully executed and delivered Funding Notice.

  • Sale Notice Parent shall provide the Holder with written notice (the “Tag-Along Sale Notice”) not more than sixty (60) nor less than twenty (20) days prior to the proposed date of the Tag-Along Sale (the “Tag-Along Sale Date”). Each Tag-Along Sale Notice shall set forth: (i) the name and address of each proposed transferee or purchaser of shares in the Tag-Along Sale; (ii) the number of shares proposed to be transferred or sold by Parent; (iii) the proposed amount and form of consideration to be paid for such shares and the terms and conditions of payment offered by each proposed transferee or purchaser; (iv) the aggregate number of shares of Common Stock held of record as of the close of business on the day immediately preceding the Tag-Along Notice Date by Parent; (v) the Management Investor’s Allotment assuming the Holder elected to sell the maximum number of shares of Common Stock possible; (vi) confirmation that the proposed purchaser or transferee has been informed of the “Tag-Along Rights” provided for herein and has agreed to purchase shares of Common Stock in accordance with the terms hereof and (vii) the Tag-Along Sale Date.

  • Termination Notice If either Party, having become entitled to do so, decides to terminate this Agreement pursuant to the preceding Clause 8.2 (a) (i) or 8.2 (a) (ii), it shall issue Termination Notice setting out: (i) in sufficient detail the underlying Force Majeure Event; (ii) the Termination Date which shall be a date occurring not earlier than 60 (sixty) days from the date of Termination Notice; (iii) the estimated Termination Payment including the details of computation thereof and; (iv) any other relevant information.

  • Transfer Notice At least two (2) Business Days before each Acquisition Date, the Administrator shall deliver to the Depositor, the Issuer and the Indenture Trustee a Transfer Notice for the Additional Receivables to be transferred and absolutely assigned on that Acquisition Date, which will specify the Additional Receivables Transfer Amount, and will have delivered with it an electronic file containing the Schedule of Receivables; and

  • Legal Action Notice A prompt report of any legal actions pending or threatened in writing against Borrower or any of its Subsidiaries that could result in damages or costs to Borrower or any of its Subsidiaries of, individually or in the aggregate, One Hundred Thousand Dollars ($100,000) or more; and

  • Termination Notices If at any time prior to 5:00 p.m. (Eastern time) on June 29, 2016 (the “Property Approval Period”), the Title Company receives a notice from Purchaser that Purchaser has exercised its termination right under Section 5.4, the Title Company, within three (3) Business Days after the receipt of such notice, will deliver the Xxxxxxx Money Deposit to Purchaser. If at any time, except as provided in the preceding sentence, the Title Company receives a certificate of either Sellers or of Purchaser (for purposes of this Section 4.6, the “Certifying Party”) stating that: (a) the Certifying Party is entitled to receive the Xxxxxxx Money Deposit pursuant to the terms of this Agreement, and (b) a copy of the certificate was delivered as provided herein to the other party (for purposes of this Section 4.6, the “Other Party”) prior to or contemporaneously with the giving of such certificate to the Title Company, then, the Title Company shall notify the Other Party in writing of the Title Company’s receipt of such certificate. Unless the Title Company has then previously received, or receives within five (5) Business Days after such written notification to the Other Party of the Title Company’s receipt of the Certifying Party’s certificate, contrary instructions from the Other Party, the Title Company, within one (1) Business Day after the expiration of the foregoing five (5) Business Day period, will deliver the Xxxxxxx Money Deposit to the Certifying Party, and thereupon the Title Company will be discharged and released from any and all liability hereunder. If the Title Company receives contrary instructions from the Other Party within five (5) Business Days following such written notification to the Other Party of the Title Company’s receipt of said certificate, the Title Company will not so deliver the Xxxxxxx Money Deposit, but will continue to hold the same pursuant hereto, subject to Section 4.7.

  • Cancellation Notice Each of the insurance policies will be specifically endorsed to require the insurer to provide the Authority with 30 days written notice (or 10 days for non-payment of premium) prior to the cancellation of the policy. The endorsement will specify that such notice will be sent to: Hillsborough County Aviation Authority Attn.: Chief Executive Officer Tampa International Airport Post Office Box 22287 Xxxxx, Xxxxxxx 00000

  • Giving Notice Except as otherwise permitted by Section 2.14 with respect to borrowing notices, all notices and other communications provided to any party hereto under the Agreement or any other Loan Document shall be in writing and addressed or delivered to such party at its address set forth below its signature hereto or at such other address (or to counsel for such party) as may be designated by such party in a notice to the other parties. Any notice, if mailed and properly addressed with postage prepaid, shall be deemed given when received; any notice, if transmitted by facsimile, shall be deemed given when transmitted.

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