Common use of Default Disclosure Clause in Contracts

Default Disclosure. Borrower shall forthwith, upon a Responsible Officer of Borrower obtaining knowledge of an Event of Default or Default, promptly deliver to Lender a certificate of a Responsible Officer specifying the nature and period of existence thereof and what action the Borrower proposes to take with respect thereto.

Default Disclosure. Borrower shall forthwith, upon a Responsible Officer of Borrower obtaining knowledge of an Event of Default or Default, promptly deliver to each Lender a certificate of a Responsible Officer specifying the nature and period of existence thereof and what action the Borrower proposes to take with respect thereto.