Common use of UCC Notices Clause in Contracts

UCC Notices. If Senior Creditor shall be required by the UCC or any other applicable law to give notice to Junior Creditor of any action taken or to be taken by Senior Creditor against or with respect to any or all of the Senior Creditor Collateral, such notice shall be given in accordance with Section 23 above and five (5) days' notice shall be conclusively deemed to be commercially reasonable.

Appears in 2 contracts

Samples: Standby Credit Facility Agreement (Z Tel Technologies Inc), Subordination Agreement (Z Tel Technologies Inc)

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UCC Notices. If In the event that Senior Creditor or Junior Creditor shall be required by the UCC Uniform Commercial Code or any other applicable law to give notice to Junior Creditor the other of any action taken or to be taken by Senior Creditor against or with respect to any or all intended disposition of the Senior Creditor Collateral, such notice shall be given in accordance with Section 23 above paragraph 3.1 hereof and five ten (510) business days' notice shall be conclusively deemed to be commercially reasonable.

Appears in 1 contract

Samples: Lien Subordination and Inter Creditor Agreement (Heartland Partners L P)

UCC Notices. If the Senior Creditor Creditors shall be required by the UCC Uniform Commercial Code of any applicable state or any other applicable law to give notice to the Junior Creditor Creditors of any action taken or to be taken by the Senior Creditor Creditors against or with respect to any or all of the Senior Creditor Collateral, such notice shall be given in accordance with Section 23 above 22 above, and five ten (510) days' ’ notice shall be conclusively deemed to be commercially reasonable.

Appears in 1 contract

Samples: Subordination and Intercreditor Agreement (Asta Funding Inc)

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UCC Notices. If the Senior Creditor Secured Creditors or the Junior Secured Creditors shall be required by the UCC or any other applicable law to give notice to Junior Creditor of any action taken or to be taken by Senior Creditor against or with respect to any or all of the Senior Creditor Collateral, such notice shall be given in accordance with Section 23 17 above and five ten (510) days' ’ notice shall be conclusively deemed to be commercially reasonable.

Appears in 1 contract

Samples: Credit Agreement (Allegheny Energy, Inc)

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