UCC Notices. In the event that the First Lien Lender or the Second Lien Creditor shall be required by the Uniform Commercial Code or any other applicable law to give notice to the other of intended disposition of Collateral, such notice shall be given in accordance with Section 5.10 hereof and ten (10) days’ notice shall be deemed to be commercially reasonable.
Appears in 2 contracts
Samples: Subordination and Intercreditor Agreement (Plures Technologies, Inc./De), Subordination and Intercreditor Agreement (Plures Technologies, Inc./De)
UCC Notices. In the event that the First Lien Lender Agent or the Second Lien Creditor Bank of Xxxxxxxx shall be required by the Uniform Commercial Code or any other applicable law to give notice to the other of intended disposition of Collateral, such notice shall be given in accordance with Section 5.10 paragraph 3.1 hereof and ten (10) days’ notice shall be deemed to be commercially reasonable.
Appears in 1 contract
UCC Notices. In the event that the First Lien Lender Senior Creditor or the Second Lien Junior Creditor shall be required by the Uniform Commercial Code or any other applicable law to give notice to the other of intended disposition of Collateral, such notice shall be given in accordance with Section 5.10 paragraph 3.1 hereof and ten (10) business days’ ' notice shall be deemed to be commercially reasonable.
Appears in 1 contract
Samples: Subordination and Inter Creditor Agreement (Heartland Partners L P)
