Common use of Notice of Default Clause in Contracts

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 22 contracts

Samples: Bridge Revolving Credit Agreement (Deluxe Corp), Credit Agreement (National Surgery Centers Inc \De\), Revolving Credit Agreement (Compaq Dallas Inc)

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Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Lenders in accordance with Article VIIISection 11; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banksadvisable.

Appears in 13 contracts

Samples: Loan and Security Agreement (Merisel Inc /De/), Loan, Guaranty and Security Agreement (Riddell Sports Inc), Loan and Security Agreement (Sweetheart Holdings Inc \De\)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or Unmatured Event of Default, Default except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Event of Default or Unmatured Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIISection 12; provided, however, provided that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Unmatured Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 11 contracts

Samples: Credit Agreement (Fargo Electronics Inc), Credit Agreement (Fargo Electronics Inc), Credit Agreement (Nashua Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 11 contracts

Samples: Credit Agreement (U S Timberlands Finance Corp), Credit Agreement (Cypress Semiconductor Corp /De/), Revolving Credit Agreement (Plum Creek Timber Co Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Required Lenders in accordance with Article VIIISection 8; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 11 contracts

Samples: Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Required Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 9 contracts

Samples: Credit Agreement (Berkley W R Corp), Credit Agreement (Cihc Inc), Credit Agreement (Cd Radio Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 8 contracts

Samples: Credit Agreement (Marcus Corp), Credit Agreement (Marcus Corp), Day Revolving Credit Agreement (Deluxe Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Required Lenders in accordance with Article VIIISection 8; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 8 contracts

Samples: Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Co-Borrowers referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The .” Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 7 contracts

Samples: Credit Agreement (Marlin Midstream Partners, LP), Credit Agreement (Spark Energy, Inc.), Credit Agreement (Spark Energy, Inc.)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". .” The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested directed by the Majority Banks Required Lenders in accordance with Article VIIISection 9; provided, however, that unless and until the Agent has received any such requestdirection, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 6 contracts

Samples: Credit Agreement (Chattem Canada Holdings Inc), Pledge Agreement (Lincare Holdings Inc), Credit Agreement (Lincare Holdings Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Lenders in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 6 contracts

Samples: Credit Agreement (Century Business Services Inc), Credit Agreement (White Cap Holdings Inc), Credit Agreement (Vans Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 5 contracts

Samples: Credit Agreement (Midway Games Inc), Credit Agreement (Crown Pacific Partners L P), Multicurrency Credit Agreement (Payless Shoesource Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults other than a default in the payment of principal, principal or interest and fees required to be paid to on the Agent for the account of the Banks, Loans hereunder unless the Agent shall have it has received written notice from a Bank or the Company Borrower or any other Credit Party referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The In the event that the Agent will notify receives such a notice, the Banks of its receipt of any such noticeAgent shall give prompt notice thereof to the Banks. The Agent shall take such action with respect to such Default or Event of Default as may shall be requested reasonably directed by the Majority Banks in accordance with Article VIIIRequired Banks; providedprovided that, however, that unless and until the Agent has shall have received any such requestdirections, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the Banks.

Appears in 4 contracts

Samples: Securities Pledge Agreement (Carson Inc), Credit Agreement (Wheels Sports Group Inc), Securities Pledge Agreement (Carson Inc)

Notice of Default. The Agent shall not be deemed to have ----------------- knowledge or notice of the occurrence of any Default default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default default or Event of Default as may be requested by the Majority Banks in accordance with Article VIII9; provided, however, that unless and until the Agent -------- ------- has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Standard Pacific Corp /De/), Revolving Credit Agreement (Standard Pacific Corp /De/), Revolving Credit Agreement (Standard Pacific Corp /De/)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks or Required Banks, as applicable, in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 4 contracts

Samples: Credit Agreement (Black Hills Corp /Sd/), Credit Agreement (Black Hills Corp /Sd/), Credit Agreement (Black Hills Corp /Sd/)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Lenders in accordance with Article VIIIARTICLE IX; providedPROVIDED, howeverHOWEVER, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 4 contracts

Samples: Credit Agreement (Abc Rail Products Corp), Credit Agreement (Century Business Services Inc), Credit Agreement (Century Business Services Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIIIIX; providedPROVIDED, howeverHOWEVER, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 4 contracts

Samples: Credit Agreement (Waterlink Inc), Credit Agreement (International Alliance Services Inc), Credit Agreement (Waterlink Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Required Lenders in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 3 contracts

Samples: Credit Agreement (Oshkosh Truck Corp), Credit Agreement (Oshkosh Truck Corp), Credit Agreement (Oshkosh Truck Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or Unmatured Event of Default, Default except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Event of Default or Unmatured Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIISection 12; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Unmatured Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 3 contracts

Samples: Credit Agreement (United Waste Systems Inc), Credit Agreement (Santi Group Inc /Ga), Credit Agreement (United Road Services Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The In the event that the Agent will notify receives such a notice, the Banks of its receipt of any such noticeAgent shall give notice thereof to the Banks. The Agent shall take such action with respect to such Default or Event of Default as may shall be requested by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the Agent has shall have received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 3 contracts

Samples: Credit Agreement (Ceridian Corp), Credit Agreement (Ceridian Corp), Credit Agreement (Price Reit Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested directed by the Majority Banks Required Lenders in accordance with Article VIIISection 9; provided, however, that unless and until the Agent has received any such requestdirection, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 3 contracts

Samples: Credit Agreement (Chattem Inc), Credit Agreement (Apria Healthcare Group Inc), Credit Agreement (Apria Healthcare Group Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksBanks or the Issuing Bank, unless the Agent shall have received written notice from a Bank or the Company Borrowers referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The In the event that the Agent will notify receives such a notice, the Agent shall give notice thereof to the Banks of its receipt of any such noticeand the Issuing Bank. The Agent shall take such action with respect to such Default or Event of Default as may shall be requested by the Majority Banks in accordance with Article VIIIIX; provided, however, that unless and until the Agent has shall have received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 3 contracts

Samples: Credit Agreement (Us Industries Inc), Credit Agreement (Us Industries Inc), Credit Agreement (Us Industries Inc /De)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default default or Event of Default as may be requested by the Majority Banks in accordance with Article VIII9; providedPROVIDED, howeverHOWEVER, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Castle & Cooke Inc/Hi/), Revolving Credit Agreement (Schuler Homes Inc), Credit Agreement (Pan Pacific Retail Properties Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIIVII; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 3 contracts

Samples: Multicurrency Credit Agreement (Applied Power Inc), Credit Agreement (Crown Pacific Partners L P), Multicurrency Credit Agreement (Applied Power Inc)

Notice of Default. The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or any event or condition which, with notice or lapse of time, or both, would constitute an Event of Default (a "Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks"), unless the Collateral Agent shall have received written notice from a Bank holder of a Note or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks of its receipt of any such notice. The Collateral Agent shall take such action under any of the Collateral Documents with respect to such Default or Event of Default as may be requested directed by the Majority Banks in accordance with Article VIIIRequired Note Holders; provided, however, that unless and until the Collateral Agent has received any such requestdirection, the Collateral Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksRequired Note Holders.

Appears in 3 contracts

Samples: Note Purchase Agreement (Printware Inc), Note Purchase Agreement (St Paul Companies Inc /Mn/), Note Purchase Agreement (Select Comfort Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 3 contracts

Samples: Warehousing Credit and Security Agreement (PMCC Financial Corp), Credit Agreement (Albertsons Inc /De/), Credit Agreement (Albertsons Inc /De/)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The ." In the event that the Agent will notify receives such a notice, the Banks of its receipt of any such noticeAgent shall give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as may shall be requested by the Majority Banks Requisite Lenders in accordance with Article VIII; providedPROVIDED, howeverHOWEVER, that unless and until the Agent has shall have received any such request, the Agent it may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 3 contracts

Samples: Credit Agreement (Apartment Investment & Management Co), Credit Agreement (Apartment Investment & Management Co), Credit Agreement (Apartment Investment & Management Co)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or Unmatured Event of Default, Default except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Event of Default or Unmatured Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIISection 12; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Unmatured Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 3 contracts

Samples: Credit Agreement (Energy West Inc), Credit Agreement (Energy West Inc), Credit Agreement (Energy West Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Required Lenders in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 3 contracts

Samples: Credit Agreement (Westcoast Hospitality Corp), Credit Agreement (Cavanaughs Hospitality Corp), Credit Agreement (Cavanaughs Hospitality Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Credit Agreement (Ferrellgas Finance Corp), Credit Agreement (Ferrellgas Partners Finance Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested directed by the Majority Banks Required Lenders in accordance with Article VIII; provided, however, that unless and until the Agent has received any such requestdirection, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 2 contracts

Samples: Security Agreement (Renal Care Group Inc), Security Agreement (Renal Care Group Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults default in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have has received written notice thereof from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The ." In the event that the Agent will notify receives such a notice, the Banks of its receipt of any such noticeAgent shall promptly give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as may shall be requested reasonably directed by the Majority Banks in accordance with Article VIII; Required Lenders, provided, however, that unless and until the Agent has shall have received any such requestdirections, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or to be in the best interest interests of the BanksLenders.

Appears in 2 contracts

Samples: Loan Agreement (Herley Industries Inc /New), Loan Agreement (Herley Industries Inc /New)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest interest, commissions and fees required payable to be paid to the Agent hereunder for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The In the event that Agent will notify the Banks of its receipt of any receives such a notice, Agent shall give prompt notice thereof to Lenders. The Agent shall take such action with respect to such Default or Event of Default as may shall be requested by the Majority Banks Lenders in accordance with Article VIII; provided, however, that unless and until the Agent has shall have received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the BanksLenders.

Appears in 2 contracts

Samples: Credit Agreement (Bally Total Fitness Holding Corp), Credit Agreement (Bally Total Fitness Holding Corp)

Notice of Default. The Neither Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the BanksLenders, unless the such Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". .” The Agent Agents will notify the Banks Lenders of its receipt of any such notice. The Agent Agents shall take such action with respect to such Default or Event of Default as may be requested directed by the Majority Banks Required Lenders in accordance with Article VIIIthis Agreement; provided, however, that unless and until the an Agent has received any such requestdirection, the such Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 2 contracts

Samples: Credit Agreement (Atlas Resource Partners, L.P.), Credit Agreement (Titan Energy, LLC)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will promptly notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Credit Agreement, Assignment and Assumption Agreement (Idex Corp /De/)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested directed by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such requestdirection, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Bridge Loan Agreement (Mentor Graphics Corp), Bridge Loan Agreement (Innoveda Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or Unmatured Event of Default, Default except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Event of Default or Unmatured Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIISection 12; provided, however, provided that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Unmatured Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Credit Agreement (Nashua Corp), Credit Agreement (Semco Energy Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Required Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Credit Agreement (Storage Technology Corp), Credit Agreement (Storage Technology Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender, the Borrower or the Company Lessee referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Lenders in accordance with Article VIIISection 6; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 2 contracts

Samples: Credit Agreement (Sabre Holdings Corp), Credit Agreement (Sabre Holdings Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, Default hereunder unless the Agent shall have has received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The In the event that the Agent will notify receives such a notice, the Banks of its receipt of any such noticeAgent shall give notice thereof to the Banks. The Agent shall take such action with respect to such Default or Event of Default as may shall be requested reasonably directed by the Majority Required Banks in accordance with Article VIII(or, if so specified by this Agreement, all Banks); provided, however, provided that unless and until the Agent has shall have received any such requestdirections, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the Banks.

Appears in 2 contracts

Samples: Credit Agreement (Enterprise Products Partners L P), Credit Agreement (Enterprise Products Partners L P)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest interest, commissions and fees required payable to be paid to the Agent hereunder for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The In the event that Agent will notify the Banks of its receipt of any receives such a notice, Agent shall give prompt notice thereof to Lenders. The Agent shall take such action with respect to such Default or Event of Default as may shall be requested by the Majority Banks Lenders in accordance with Article VIII; provided, however, that unless and until the Agent has shall have received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the BanksLenders.

Appears in 2 contracts

Samples: Credit Agreement (Bally Total Fitness Holding Corp), Credit Agreement (Bally Total Fitness Holding Corp)

Notice of Default. The Agent shall not be deemed to have ----------------- knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank Bank, the Borrowers' Designee or the Company any other Loan Party referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIIIIX; provided, however, that unless -------- ------- and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Revolving Multicurrency Credit Agreement (Johns Manville International Group Inc), Revolving Multicurrency Credit Agreement (Johns Manville Corp /New/)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or either of the Company Companies referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will promptly notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Credit Agreement (St Jude Medical Inc), Day Credit Agreement (St Jude Medical Inc)

Notice of Default. The Agent shall not be deemed to have knowledge ----------------- or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIIIIX; provided, -------- however, that unless and until the Agent has received any such request, the ------- Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Credit Agreement (West Marine Inc), Credit Agreement (West Marine Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested directed by the Majority Banks Required Lenders in accordance with Article VIIISection 9.2; provided, however, that unless and until the Agent has received any such requestdirection, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 2 contracts

Samples: Credit Agreement (Healthtronics Surgical Services Inc), Credit Agreement (Healthtronics Surgical Services Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Lenders in accordance with Article VIIIVI; providedPROVIDED, howeverHOWEVER, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 2 contracts

Samples: Credit Agreement (Cogent Communications Group Inc), Credit Agreement (Cogent Communications Group Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect Default (other than an Event of Default arising out of the Borrowers’ failure to defaults in the payment of pay principal, interest and or fees required to be paid to the Agent for the account of the Bankshereunder in a timely manner), unless the Agent shall have received written notice from a Bank Lender or the Company an Obligor referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". .” The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Required Lenders in accordance with Article VIIISection 9; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banksadvisable.

Appears in 2 contracts

Samples: Credit Agreement (PSS World Medical Inc), Credit Agreement (PSS World Medical Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Lenders in accordance with Article VIIISECTION 11; providedPROVIDED, howeverHOWEVER, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banksadvisable.

Appears in 2 contracts

Samples: Guaranty and Security Agreement (Riddell Sports Inc), Loan and Security Agreement (Strategic Distribution Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Credit Agreement (Storage Technology Corp), Credit Agreement (Storage Technology Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Lenders in accordance with Article VIII; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 2 contracts

Samples: Credit Agreement (Motivepower Industries Inc), Credit Agreement (Abc Naco Inc)

Notice of Default. The Agent shall not be deemed to have knowledge ----------------- or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent it for the account of the Banks, unless the Agent it shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such -------- ------- request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Credit Agreement (McKesson Corp), Credit Agreement (McKesson Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Assignment and Acceptance Agreement (Nuveen John Company), Credit Agreement (Nuveen John Company)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIIIX; providedPROVIDED, howeverHOWEVER, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Credit Agreement (Midway Games Inc), Lc Credit Agreement (Midway Games Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company a Credit Party referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The .” Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Lenders in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such request, the Agent it may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 2 contracts

Samples: Credit Agreement (Crimson Wine Group, LTD), Credit Agreement (Royal Hawaiian Orchards, L.P.)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Lenders in accordance with Article VIIISection 8; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 2 contracts

Samples: Extended Revolving Credit Agreement (Costco Wholesale Corp /New), Term Revolving Credit Agreement (Costco Wholesale Corp /New)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Lenders in accordance with Article VIIISection 11.2 (Remedies); provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banksadvisable.

Appears in 2 contracts

Samples: Loan and Security Agreement (Weirton Steel Corp), Loan and Security Agreement (Fruit of the Loom LTD)

Notice of Default. The Agent shall not be deemed to have ------------------- knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the -------- ------- Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Compaq Computer Corp), Revolving Credit Agreement (Compaq Computer Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Credit Agreement (Software Net Corp), Credit Agreement (Gentle Dental Service Corp)

Notice of Default. The Documentation Agent shall not be deemed to have knowledge or notice of the occurrence of any Potential Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Documentation Agent for the account of the Banks, unless the Documentation Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Potential Default or Event of Default and stating that such notice is a "notice of default". The Documentation Agent will notify the Banks of its receipt of any such notice. The Documentation Agent shall take such action with respect to such Potential Default or Event of Default as may shall be requested by the Majority Required Banks in accordance with Article VIII; provided, however, that unless and until the Documentation Agent has received any such request, the Documentation Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Potential Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Kmart Corp), Assignment and Assumption Agreement (Kmart Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Required Lenders in accordance with Article VIIIARTICLE IX; providedPROVIDED, howeverHOWEVER, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 2 contracts

Samples: Credit Agreement (Cornerstone Propane Partners Lp), Refunding Credit Agreement (Cornerstone Propane Partners Lp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested directed by the Majority Banks Required Lenders in accordance with Article VIIISection 6; provided, however, that unless and until the Agent has received any such requestdirection, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 2 contracts

Samples: Credit Agreement (Sonoco Products Co), Credit Agreement (Sonoco Products Co)

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Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrowers referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Required Lenders in accordance with Article VIIIXI; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 2 contracts

Samples: Credit Agreement (North American Galvanizing & Coatings Inc), Credit Agreement (North American Galvanizing & Coatings Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect regard to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". .” The Agent will shall promptly notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Lenders in accordance with Article VIIISection 8 hereof; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Continental Materials Corp), And Term Loan Agreement (Continental Materials Corp)

Notice of Default. The Neither Agent nor Collateral Agent shall not be ----------------- deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except that Agent shall be deemed to have knowledge with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested directed by the Majority Banks in accordance with Article VIII; provided, however, that unless -------- ------- and until the Agent has received any such requestdirection, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (Levi Strauss & Co)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of defaultNOTICE OF DEFAULT". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIIIARTICLE IX; providedPROVIDED, howeverHOWEVER, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (Genlyte Group Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrowers' Agent referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The ." In the event that the Agent will notify receives such a notice, the Banks of its receipt of any such noticeAgent shall give prompt notice thereof to the Banks. The Agent shall take such action with respect to such Default or Event of Default as may shall be requested by the Majority Required Banks in accordance with Article VIIIVII; providedPROVIDED, howeverHOWEVER, that unless and until the Agent has shall have received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (Solectron Corp)

Notice of Default. The Agent shall not be deemed ----------------- to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIISection 10.1; provided, however, that unless and ------------ -------- ------- until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (Wyle Electronics)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank Bank, Borrower or the Company any Subsidiary Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Event of Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Loan and Security Agreement (Gsi Group Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (Katy Industries Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence occurrence, continuation or cessation of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Default unless Agent for the account of the Banks, unless the Agent shall have has received written notice from a Bank Lender Party or the Company a Borrower referring to this AgreementAgreement or the Other Documents, describing such Default or Event of Default and stating that such notice is a "notice of default"" (or a notice in respect of the continuation or cessation thereof). The In the event that Agent will notify the Banks of its receipt of any receives such a notice, Agent shall give notice thereof to all other Lender Parties. The Agent shall take such action with respect to such Default or Event of Default as may shall be requested reasonably directed by the Majority Banks in accordance with Article VIIIRequired Lenders; provided, however, that unless and until the Agent has shall have received any such requestdirections, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of Lenders consistent with the Banksterms of this Agreement and the Other Documents.

Appears in 1 contract

Samples: Credit and Security Agreement (Lexington Precision Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (Louisiana Pacific Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or ----------------- notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such -------- ------- request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (Storage Technology Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest interest, and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested directed by the Majority Banks in accordance with Article VIIIRequired Lenders; provided, however, that unless and until the Agent has received any such requestdirection, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 1 contract

Samples: Credit Agreement (Williams Sonoma Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksBanks or Designated Bidders, unless the Agent shall have received written notice from a Bank or the Company a Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksBanks and Designated Bidders.

Appears in 1 contract

Samples: Credit Agreement (Louisiana Pacific Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest interest, and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender, Parent, or the Company any Subsidiary of Parent referring to this Agreement, describing such Default or Event of Default Default, and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Required Lenders in accordance with Article VIII13; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 1 contract

Samples: Credit Agreement (Intervoice Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid payable to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The In the event that the Agent will notify receives such a notice, the Banks of its receipt of any such noticeAgent shall give notice thereof to the Banks. The Agent shall take such action with respect to such Default or Event of Default as may shall be requested by the Majority Banks in accordance with Article VIII7 hereof; provided, however, that unless and until the Agent has shall have received any such request, the Agent may (but shall not be obligated to) 75 take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or and in the best interest interests of the Banks.

Appears in 1 contract

Samples: Loan Agreement (Dailey Petroleum Services Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or Unmatured Event of Default, Default except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Event of Default or Unmatured Event of Default and stating that such notice is a "notice of default". .” The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIISection 12; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Unmatured Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (Energy West Inc)

Notice of Default. The No Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or Event of Potential Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the such Agent for the account of the BanksLenders, unless the such Agent shall have received written notice from a Bank Lender or the Company referring to this Agreement, describing such Event of Default or Event of Potential Default and stating that such notice is a "notice of default". The ." Each Agent will notify the Banks Lenders of its receipt of any such notice. The Each Agent shall take such action with respect to such Event of Default or Event of Potential Default as may be requested directed by the Majority Banks Required Lenders in accordance with Article VIII7; providedPROVIDED, howeverHOWEVER, that unless and until the such Agent has received any such requestdirection, the such Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Event of Potential Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 1 contract

Samples: Credit Agreement (Foster Wheeler LTD)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the either Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The In the event that the Agent will notify receives such a notice, the Banks of its receipt of any such noticeAgent shall give notice thereof to the Banks. The Agent shall take such action with respect to such Default or Event of Default as may shall be requested by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the Agent has shall have received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (Strauss Levi Associates Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such -------- ------- request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (Globalcenter Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Required Banks in accordance with Article VIII7; provided, however, that unless and until the Agent has received any such -------- ------- request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Policy Management Systems Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks Lenders in accordance with Article VIIIIX; providedPROVIDED, howeverHOWEVER, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 1 contract

Samples: Credit Agreement (Sunrise Medical Inc)

Notice of Default. The Documentation Agent shall not be deemed to have knowledge or notice of the occurrence of any Potential Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Documentation Agent for the account of the Banks, unless the Documentation Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Potential Default or Event of Default and stating that such notice Notice is a "notice of default". The Documentation Agent will notify the Banks of its receipt of any such notice. The Documentation Agent shall take such action with respect to such Potential Default or Event of Default as may shall be requested by the Majority Required Banks in accordance with Article VIII; provided, however, that unless and until the Documentation Agent has received any such request, the Documentation Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Potential Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Kmart Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Incipient Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Incipient Default or Event of Default as may be requested directed by the Majority Banks in accordance with Article VIIISection 8; provided, however, that unless and until the Agent has shall have received any such requestdirection, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (Watson Wyatt & Co Holdings)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Loan Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested directed by the Majority Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such requestdirection, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: And Modified Loan Agreement (Genesco Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Requisite Banks in accordance with Article VIIISection 8; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (Flowserve Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Potential Event of Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksAgent, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested directed by the Majority Banks requisite Lenders in accordance with Article VIIISection 7; provided, however, that unless and until the Agent has shall have received any such requestdirection, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 1 contract

Samples: Revolving Credit Agreement (Caci International Inc /De/)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company any Loan Party referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIIIIX; providedPROVIDED, howeverHOWEVER, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (Building Materials Holding Corp)

Notice of Default. The Agent shall not be deemed to have ----------------- knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIII7; provided, however, that unless and until the Agent has received any -------- ------- such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Term Loan Agreement (Policy Management Systems Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the a Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIIARTICLE X; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks except to the extent that this Agreement expressly requires that such action be taken, or not be taken, only with the consent or upon the authorization of the Required Banks or all the Banks.

Appears in 1 contract

Samples: Credit Agreement (Interim Services Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or ----------------- notice of the occurrence of any Default or Event of Default, except with respect to (a) defaults in the payment of principal, interest amounts owed in respect of Letters of Credit issued by NT&SA as an Issuing Bank and (b) fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have has received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIIVII; provided, -------- however, that unless and until the Agent has received any such request, the Agent may (but ------- shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Agreement (Spiegel Inc)

Notice of Default. The Agent shall not be deemed to have ----------------- knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Required Banks in accordance with Article VIIIIX; provided, however, that unless and until the Agent -------- ------- has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Pledge Agreement (Cb Richard Ellis Services Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIIIIX; providedPROVIDED, howeverHOWEVER, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.,

Appears in 1 contract

Samples: Credit Agreement (Waterlink Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The ." In the event that the Agent will notify receives such a notice, the Banks of its receipt of any such noticeAgent shall give notice thereof to the Lenders. The Agent shall take such action with respect to such Default or Event of Default as may shall be requested by the Majority Banks Requisite Lenders in accordance with Article VIII; provided, however, that unless and until the Agent has shall have received any such request, the Agent it may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 1 contract

Samples: Credit Agreement (Apartment Investment & Management Co)

Notice of Default. The Agent None of the Agents shall not be deemed to have ----------------- knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent it for the account of the Banks, unless the Agent it shall have received written notice from a Bank or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent Each of the Agents will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any -------- ------- such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (McKesson Hboc Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Loan Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested directed by the Majority Banks Required Lenders in accordance with Article VIIISection 9.2; provided, however, that unless and until the Agent has received any such requestdirection, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 1 contract

Samples: Loan Agreement (Aaipharma Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Unmatured Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrowers referring to this Agreement, describing such Default or Event of Unmatured Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Unmatured Default as may be requested by the Majority Required Banks in accordance with Article VIII; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Unmatured Default as it shall deem advisable or in the best interest of the Banks. 11.6.

Appears in 1 contract

Samples: Assignment Agreement (Nike Inc)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested directed by the Majority Required Banks in accordance with Article VIIIVII; provided, however, that unless and until the Agent has received any such requestdirection, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Assignment Agreement (Northern States Power Co)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". The ." Agent will notify the Banks of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by all of the Majority Banks Banks, as applicable, in accordance with Article VIIIIX; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Banks.

Appears in 1 contract

Samples: Credit Agreement (Atmos Energy Corp)

Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Agent for the account of the BanksLenders, unless the Agent shall have received written notice from a Bank Lender or the Company Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". ." The Agent will notify the Banks Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested directed by the Majority Banks Required Lenders in accordance with Article VIIISection 8.02; provided, however, that ------------ -------- ------- unless and until the Agent has received any such requestdirection, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the BanksLenders.

Appears in 1 contract

Samples: Loan Agreement (Fisher Communications Inc)

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