Common use of Collateral Agent to Receive Default Notices Clause in Contracts

Collateral Agent to Receive Default Notices. Tenant shall notify Collateral Agent of any default by Landlord under the Lease which would entitle Tenant to cancel the Lease, and agrees that, notwithstanding any provisions of the Lease to the contrary, no notice of cancellation thereof shall be effective unless Collateral Agent shall have received notice of default giving rise to such cancellation and shall have failed within thirty (30) days after receipt of such notice to cure such default or, if such default cannot be cured within thirty (30) days, shall have failed within thirty (30) days after receipt of such notice to commence and thereafter diligently pursue any action necessary to cure such default.

Appears in 4 contracts

Samples: Taxes and Certain Statutory (Trump Indiana Inc), Security Agreement (Trump Indiana Inc), Security Agreement and Fixture Filing (Trump Indiana Inc)

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Collateral Agent to Receive Default Notices. Tenant shall notify Collateral Agent of any default by Landlord under the Lease which would entitle Tenant to cancel the Lease, and agrees that, notwithstanding any provisions of the Lease to the contrary, no notice of cancellation thereof shall be effective unless Collateral Agent shall have received notice of default giving rise to such cancellation and shall have failed within thirty sixty (3060) days after receipt of such notice to cure such default or, if such default cannot be cured within thirty sixty (3060) days, shall have failed within thirty sixty (3060) days after receipt of such notice to commence and thereafter diligently pursue any action necessary to cure such default.

Appears in 4 contracts

Samples: Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.)

Collateral Agent to Receive Default Notices. Tenant shall notify ------------------------------------------- Collateral Agent of any default by Landlord under the Lease which would entitle Tenant to cancel the Lease, and agrees that, notwithstanding any provisions of the Lease to the contrary, no notice of cancellation thereof shall be effective unless Collateral Agent shall have received notice of default giving rise to such cancellation and shall have failed within thirty sixty (3060) days after receipt of such notice to cure such default or, if such default cannot be cured within thirty sixty (3060) days, shall have failed within thirty sixty (3060) days after receipt of such notice to commence and thereafter diligently pursue any action necessary to cure such default.

Appears in 2 contracts

Samples: Security Agreement (Applied Power Inc), Security Agreement (Applied Power Inc)

Collateral Agent to Receive Default Notices. Without limiting the general nature of Section 5 above, Tenant shall notify Collateral Agent of any default by Landlord under the Lease which that would entitle Tenant to cancel the Lease, and agrees that, notwithstanding any provisions of the Lease to the contrary, no notice of cancellation thereof shall be effective unless Collateral Agent shall have received notice of default giving rise to such cancellation and shall have failed within thirty (30) days after receipt of such notice to cure such default or, if such default cannot be cured within thirty (30) days, shall have failed within thirty (30) days after receipt of such notice to commence and thereafter diligently pursue any action necessary to cure such default.

Appears in 1 contract

Samples: First Lien Credit Agreement (CAESARS ENTERTAINMENT Corp)

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Collateral Agent to Receive Default Notices. Without limiting the general nature of paragraph 5, Tenant shall notify Collateral Agent of any default by Landlord under the Lease which would entitle Tenant to cancel the Lease, and agrees that, notwithstanding any provisions of the Lease to the contrary, no notice of cancellation thereof shall be effective unless Collateral Agent shall have received notice of default giving rise to such cancellation and shall have failed within thirty (30) days after receipt of such notice to cure such default or, if such default cannot be cured within thirty (30) days, shall have failed within thirty (30) days after receipt of such notice to commence and thereafter diligently pursue any action necessary to cure such default.

Appears in 1 contract

Samples: Disbursement Agreement (CAESARS ENTERTAINMENT Corp)

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