Common use of Notice of Default; Agreement to Advance Clause in Contracts

Notice of Default; Agreement to Advance. The Administrative Agent --------------------------------------- shall be deemed to have no knowledge or notice of the occurrence of any Event of Default or Potential Default hereunder unless the Administrative Agent has received notice from a Lender or the Companies referring to the Credit Documents, describing such Event of Default or Potential Default and stating that such notice is a "notice of default". In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders and the Collateral Agent.

Appears in 2 contracts

Samples: Credit Agreement (CWM Mortgage Holdings Inc), Credit Agreement (CWM Mortgage Holdings Inc)

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Notice of Default; Agreement to Advance. The Administrative --------------------------------------- Agent --------------------------------------- shall be deemed to have no knowledge or notice of the occurrence of any Event of Default or Potential Default hereunder unless the Administrative Agent has received notice from a Lender Lender, the L/C Bank or the Companies referring to the Credit Documents, describing such Event of Default or Potential Default and stating that such notice is a "notice of defaultde- fault". In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders Lenders, the L/C Bank and the Collateral Agent.

Appears in 2 contracts

Samples: Credit Agreement (CWM Mortgage Holdings Inc), Credit Agreement (CWM Mortgage Holdings Inc)

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