Examples of Notice of Intent to Succeed in a sentence
Upon receipt of the Notice of Intent to Succeed, the GOP shall, at the request and expense of the Lenders or the Agent, cooperate with the Lenders or the Agent in the exercise of their rights under this Section 11.2 (Creation of Security).
The Parties agree that the Notice of Intent to Succeed to the extent it relates to any succession rights of the Lenders under this Section 11.2 (Creation of Security) shall not be binding upon the Lenders or their designee and shall not constitute a Succession Notice.
Notwithstanding the foregoing, the Lenders (or their designee) shall have no obligation to cure any Seller Event of Default that is not capable of being cured, provided that notice of such default was given in the Notice of Intent to Succeed specifying that in the Lenders’ view such default is not capable of being cured by the Lenders (or their designee), and no right will exist for the GOP to terminate this Agreement based upon any such Seller Events of Default occurring prior to the Succession Notice.
Within twenty (20) Days of receipt of the Notice of Intent to Succeed, the GOP shall notify the Lenders (or the Agent) of all Seller Events of Default (or events that with delivery of notice and the passage of time would become Seller Events of Default) which are, or after delivery of a Succession Notice would be, required to be cured by the Lenders or their designee in accordance with Section 11.2(c).