Common use of Trigger Event Remedies Clause in Contracts

Trigger Event Remedies. At any time when an Xxxxxxx believes that a Trigger Event has been remedied by virtue of any of the following, it must serve notice on the Security Trustee (signed by two directors) to that effect. The Security Trustee must respond within ten days (or such longer period as it may reasonably agree with the relevant Obligor (as the case may be)) confirming that the relevant Trigger Event has, in its reasonable opinion, been remedied or setting out its reasons for believing that such Trigger Event has not been remedied (in which case, such event will continue to be a Trigger Event until such time as the Security Trustee is reasonably satisfied that the Trigger Event has been remedied). The following shall constitute remedies to the Trigger Events (each a "Trigger Event Remedy").

Trigger Event Remedies. At any time when an Xxxxxxx believes that a Trigger Event has been remedied by virtue of any of the following, it must serve notice on the Borrower Security Trustee (signed by two directors) to that effect. The Borrower Security Trustee must must, provided the notice requests the same, respond within ten 10 days (or such longer period as it may reasonably agree with the relevant Obligor (as the case may be)) confirming that the relevant Trigger Event has, in its reasonable opinion, been remedied or setting out its reasons for believing that such Trigger Event has not been remedied (in which case, such event will continue to be a Trigger Event until such time as the Borrower Security Trustee is reasonably satisfied that the Trigger Event has been remedied). The following shall constitute remedies to the Trigger Events (each a "“Trigger Event Remedy"”).

Trigger Event Remedies. At any time when an Xxxxxxx Obligor believes that a Trigger Event has been remedied by virtue of any of the following, it must serve notice on the Security Trustee (signed by two directors) to that effect. The Security Trustee must respond within ten days (or such longer period as it may reasonably agree with the relevant Obligor (as the case may be)) confirming that the relevant Trigger Event has, in its reasonable opinion, been remedied or setting out its reasons for believing that such Trigger Event has not been remedied (in which case, such event will continue to be a Trigger Event until such time as the Security Trustee is reasonably satisfied that the Trigger Event has been remedied). The following shall constitute remedies to the Trigger Events (each a "Trigger Event Remedy").