Common use of Action Upon Default Clause in Contracts

Action Upon Default. Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower Agent or Borrowers or Required Lenders specifying the occurrence and nature thereof. If any Lender acquires knowledge of a Default, Event of Default or failure of such conditions, it shall promptly notify Agent and the other Lenders thereof in writing. Each Secured Party agrees that, except as otherwise provided in any Credit Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate any Obligations (other than Bank Product Indebtedness), or assert any rights relating to any Collateral (including the exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral). Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in any proceeding under any Insolvency Proceeding.

Action Upon Default. Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower Agent or Borrowers or Required Lenders specifying the occurrence and nature thereof. Agent shall promptly forward such notice to all Lenders. If any Lender acquires knowledge of a Default, Event of Default or failure of such conditions, it shall promptly notify Agent and the other Lenders thereof in writing. Each Secured Party agrees that, except as otherwise provided in any Credit Loan Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate any Obligations (other than Secured Bank Product IndebtednessObligations), or assert any rights relating to any Collateral (including the exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral or to assert any rights relating to any Collateral). Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in any proceeding under any an Insolvency Proceeding.

Action Upon Default. Administrative Agent shall be entitled to assume that no Default or Event of Default has occurred and is continuing and shall not be deemed to have knowledge of any Default or Event of DefaultDefault unless, in its capacity as a Lender it has actual knowledge thereof, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower Agent any other Lender or Borrowers or Required Lenders any Credit Party specifying the occurrence and nature thereof. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify Administrative Agent and the other Lenders thereof in writingwriting specifying in detail the nature thereof. Each Secured Party Lender agrees that, except as otherwise provided in any Credit Loan Documents or with the written consent of Administrative Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations under any Obligations (other than Bank Product Indebtedness)Loan Documents, or assert any rights relating to any Collateral (including the exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales sales, or other similar dispositions of Collateral). Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor a Borrower where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in any proceeding under any an Insolvency Proceeding.

Action Upon Default. The Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, Default unless it has received written notice from a Lender or a Borrower Agent or Borrowers or Required Lenders specifying the occurrence and nature thereof. If the Agent receives such a notice or otherwise acquires actual knowledge of any Default or Event of Default, the Agent shall promptly notify the Lenders in writing. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify the Agent and the other Lenders thereof in writing. Each Secured Party Lender agrees that, except as otherwise provided in any Credit Loan Documents or with the written consent of the Agent and Required the Requisite Lenders, it such Lender will not take any Enforcement Action, accelerate any Obligations (other than Bank Product Indebtedness)its Obligations, or assert any rights relating to any Collateral (including the exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales sales, or other similar dispositions of Collateral). Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in any proceeding under any an Insolvency Proceeding.

Action Upon Default. Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from a Borrower Agent or Borrowers or Required Lenders specifying the occurrence and nature thereof. If any a Lender acquires knowledge of a Default, Event of Default or failure of such conditions, it shall promptly notify Agent and the other Lenders thereof in writing. Each Secured Party Lender agrees that, except as otherwise provided in any Credit Loan Documents or with the written consent of Collateral Agent and Required Lenders, it will not take any Enforcement Action, accelerate any Obligations (other than Bank Product Indebtedness), or assert any rights relating to any Collateral. Collateral (including Agent is hereby authorized, on behalf on the exercise any right that it might otherwise have under Applicable Law Lenders to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral). Notwithstanding the foregoing, however, file a Lender may take action to preserve or enforce its rights against an Obligor where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs proof of claim and vote claims for the Obligations in any proceeding under the Bankruptcy Code. At any Insolvency Proceedingforeclosure or other realization event with respect to the Collateral (including any sale authorized pursuant to the Bankruptcy Code), Collateral Agent shall be entitled to credit bid the Obligations and establish vehicles and procedures therefor, at the direction of the Required Lenders and on behalf of the Lenders.

Action Upon Default. Administrative Agent shall be entitled to assume that no Default or Event of Default has occurred and is continuing and shall not be deemed to have knowledge of any Default or Event of DefaultDefault unless, in its capacity as a Lender it has actual knowledge thereof, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower Agent any other Lender or Borrowers or Required Lenders any Credit Party specifying the occurrence and nature thereof. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify Administrative Agent and the other Lenders thereof in writingwriting specifying in detail the nature thereof. Each Secured Party Lender agrees that, except as otherwise provided in any Credit Loan Documents or with the written consent of Administrative Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations under any Obligations (other than Bank Product Indebtedness)Loan Documents, or assert any rights relating to any Collateral (including the exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales sales, or other similar dispositions of Collateral). Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor a Borrower where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender▇▇▇▇▇▇, including the filing of proofs of claim in any proceeding under any an Insolvency Proceeding.

Action Upon Default. Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, Default unless it has received written notice from Borrower Agent a Lender or Borrowers or Required Lenders a Loan Party specifying the occurrence and nature thereof. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify Agent and the other Lenders thereof in writing. Each Secured Party Lender agrees that, except as otherwise provided in any Credit Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate any Obligations (other than Bank Product Indebtedness)its Obligations, or assert any rights relating to any Collateral (including the exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral). Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor a Loan Party where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in any proceeding under any an Insolvency Proceeding.

Action Upon Default. Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, Default unless it has received written notice from a Lender or Borrower Agent or Borrowers or Required Lenders specifying the occurrence and nature thereof. If Agent receives such a notice or otherwise acquires actual knowledge of any Default or Event of Default, Agent shall promptly notify Lenders in writing. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify Agent and the other Lenders thereof in writing. Each Secured Party Lender agrees that, except as otherwise provided in any Credit Loan Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate any Obligations (other than Bank Product Indebtedness)its Obligations, or assert any rights relating to any Collateral (including the exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral). Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in any proceeding under any Insolvency ProceedingDebtor Relief Law.

Action Upon Default. The Agent shall be entitled to assume that no Default or Event of Default has occurred and is continuing and shall not be deemed to have knowledge of any Default or Event of DefaultDefault unless, in its capacity as a Lender it has actual knowledge thereof, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower Agent any other Lender or Borrowers or Required Lenders any Credit Party specifying the occurrence and nature thereof. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify the Agent and the other Lenders thereof in writingwriting specifying in detail the nature thereof. Each Secured Party Lender agrees that, except as otherwise provided in any Credit Documents or with the written consent of the Agent and Required Lenders, it will not take any Enforcement Actionenforcement action, accelerate Obligations under any Obligations (other than Bank Product Indebtedness)Loan Documents, or assert any rights relating to any Collateral (including the exercise any right that it might otherwise have under Applicable Requirements of Law to credit bid at foreclosure sales, UCC sales sales, or other similar dispositions of Collateral). Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor a Borrower where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in any proceeding under any an Insolvency Proceeding.

Action Upon Default. Administrative Agent shall be entitled to assume that no Default or Event of Default has occurred and is continuing and shall not be deemed to have knowledge of any Default or Event of DefaultDefault unless, in its capacity as a Lender it has actual knowledge thereof, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower Agent any other Lender or Borrowers or Required Lenders any Credit Party specifying the occurrence and nature thereof. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify Administrative Agent and the other Lenders thereof in writingwriting specifying in detail the nature thereof. Each Secured Party Lender agrees that, except as otherwise provided in any Credit Loan Documents or with the written consent of Administrative Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations under any Obligations (other than Bank Product Indebtedness)Loan Documents, or assert any rights relating to any Collateral (including the exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales sales, or other similar dispositions of Collateral). Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor a Borrower where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender▇▇▇▇▇▇, including the filing of proofs of claim in any proceeding under any an Insolvency Proceeding.. 12.5

Action Upon Default. None of Agent, Collateral Agent or Documentation Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from a Borrower Agent or Borrowers or Required Lenders specifying the occurrence and nature thereof. If any Lender acquires knowledge of a Default, Event of Default or failure of such conditions, it shall promptly notify Agent, Collateral Agent, Documentation Agent and the other Lenders thereof in writing. Each Secured Party agrees that, except as otherwise provided in any Credit Loan Documents or with the written consent of Agent, Collateral Agent and Required Lenders, it will not take any Enforcement Action, accelerate any Obligations (other than Secured Bank Product IndebtednessObligations), or assert any rights relating to any Collateral (including the exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral or to assert any rights relating to any Collateral). Notwithstanding the foregoing, however, a Lender Secured Party may take action to preserve or enforce its rights against an Obligor where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such LenderSecured Party, including the filing of proofs of claim in any proceeding under any an Insolvency Proceeding.

Action Upon Default. No Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, Default unless it has received written notice from Borrower Agent a Lender or Borrowers or Required Lenders Loan Party specifying the occurrence and nature thereof. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify Administrative Agent and the other Lenders thereof in writing. Each Secured Party (other than the Administrative Agent and the Collateral Agent) agrees that, except as otherwise provided in any Credit Loan Documents or with the written consent of Administrative Agent and Required Lenders, it will not (i) take any Enforcement Action, (ii) accelerate any Secured Obligations (other than Secured Bank Product Indebtedness), Obligations) or assert any rights relating to any Collateral (including the iii) exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral or to assert any rights relating to any Collateral). Notwithstanding the foregoing, however, a Lender Secured Party may take action to preserve or enforce its rights against an Obligor a Loan Party where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Secured 1125931.03I-▇▇▇▇▇▇▇▇▇▇▇▇▇▇.05E-CHISR01A - MSW Obligations held by such LenderSecured Party, including the filing of proofs of claim in any proceeding under any an Insolvency Proceeding. No Lender shall set off against any account that is subject to a Control Agreement without the prior consent of Administrative Agent.

Action Upon Default. Agent shall be entitled to assume that no Default or Event of Default has occurred and is continuing and shall not be deemed to have knowledge of any Default or Event of DefaultDefault unless, in its capacity as a Lender it has actual knowledge thereof, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower Agent any other Lender or Borrowers or Required Lenders any Credit Party specifying the occurrence and nature thereof. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify Agent and the other Lenders thereof in writingwriting specifying in detail the nature thereof. Each Secured Party Lender agrees that, except as otherwise provided in any Credit Loan Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations under any Obligations (other than Bank Product Indebtedness)Loan Documents, or assert any rights relating to any Collateral (including the exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales sales, or other similar dispositions of Collateral). Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor a Borrower where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender▇▇▇▇▇▇, including the filing of proofs of claim in any proceeding under any an Insolvency Proceeding.

Action Upon Default. Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower Agent or Borrowers or Required Lenders specifying the occurrence and nature thereof. If Agent receives such a notice or otherwise acquires actual knowledge of any Default or Event of Default, or any failure of such conditions, Agent shall promptly notify Lenders in writing. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify Agent and the other Lenders thereof in writing. Each Secured Party Lender agrees that, except as otherwise provided in any Credit Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate any its Obligations (other than Bank Product Indebtedness), or assert any rights relating to any Collateral (including the exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral). Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in any proceeding under any Insolvency ProceedingDebtor Relief Law.