Common use of Notice of Default Clause in Contracts

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured Parties.

Appears in 20 contracts

Sources: Credit Agreement (Alkermes Plc.), Credit Agreement (LivaNova PLC), Intercreditor Agreement (LivaNova PLC)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Administrative Agent shall take such action reasonably promptly with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all and/or such other requisite percentage of the Lenders or any other instructing group of Lenders specified by this Agreementas is required pursuant to subsection 10.1(a); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 18 contracts

Sources: Credit Agreement (US Foods Holding Corp.), Credit Agreement (US Foods Holding Corp.), Credit Agreement (US Foods Holding Corp.)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received notice from a Lender or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by in this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 14 contracts

Sources: Term Loan Credit Agreement (Ford Motor Co), Revolving Credit Agreement (Ford Motor Co), 364 Day Revolving Credit Agreement (Ford Motor Co)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent it has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Agent receives such a notice, the Administrative Agent it shall promptly give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)Lenders; provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders, except to the extent that other provisions of this Agreement expressly require that any such action be taken or not be taken only with the consent and authorization or the request of the Lenders or Required Lenders, as applicable.

Appears in 12 contracts

Sources: 364 Day Credit Agreement (Jones Apparel Group Inc), 364 Day Credit Agreement (Jones Apparel Group Inc), 364 Day Credit Agreement (Jones Apparel Group Inc)

Notice of Default. No Neither Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative an Agent receives such a notice, the Administrative such Agent shall give notice thereof to the Lenders. The Administrative Agent Agents shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or the Majority Facility Lenders in respect of any other instructing group of Lenders specified by this AgreementFacility); provided provided, that unless and until the Administrative such Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 11 contracts

Sources: Super Priority Senior Secured Debtor in Possession Asset Based Revolving Credit Agreement (Revlon Consumer Products Corp), Amendment No. 8 (Revlon Consumer Products Corp), Credit Agreement (Revlon Consumer Products Corp)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender Lender, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 11 contracts

Sources: Credit Agreement (Sba Communications Corp), Credit Agreement (Sba Communications Corp), Revolving Refinancing Amendment (Sba Communications Corp)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received notice from a Lender or the a Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Administrative Agent shall take such action reasonably promptly with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all and/or such other requisite percentage of the Lenders or any other instructing group of Lenders specified by this Agreementas is required pursuant to subsection 11.1(a); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 11 contracts

Sources: Abl Credit Agreement (US Foods Holding Corp.), Abl Credit Agreement (Veritiv Corp), Abl Credit Agreement (US Foods Holding Corp.)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has actual knowledge of the same or has received notice from a Lender Secured Party or the Borrower Loan Party referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative an Agent obtains such actual knowledge or receives such a notice, the Administrative such Agent shall give prompt notice thereof to each of the Lendersother Secured Parties. The Administrative Agent Upon the occurrence of an Event of Default, the Agents shall (subject to the provisions of SECTION 9.02) take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless Lenders. Unless and until the Administrative Agent Agents shall have received such directionsdirection, the Administrative Agent Agents may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to any such Default or Event of Default as it they shall deem advisable in the best interests interest of the Secured Parties. In no event shall the Agents be required to comply with any such directions to the extent that the Agents believe that their compliance with such directions would be unlawful.

Appears in 10 contracts

Sources: Credit Agreement (Music123, Inc.), Credit Agreement (Music123, Inc.), Credit Agreement (Music123, Inc.)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender Lender, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided provided, that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 10 contracts

Sources: Credit Agreement (Auto Disposal of Memphis, Inc.), Credit Agreement (Del Pharmaceuticals, Inc.), Credit Agreement (IAA Acquisition Corp.)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender or the Borrower Cedar Fair LP referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured Parties.

Appears in 10 contracts

Sources: Credit Agreement (Cedar Fair L P), Credit Agreement (Cedar Fair L P), Credit Agreement (Cedar Fair L P)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has it shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 9 contracts

Sources: Term Loan Credit Agreement (NorthWestern Energy Group, Inc.), Credit Agreement (Northwestern Corp), Credit Agreement (Northwestern Corp)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has actual knowledge of the same or has received notice from a Lender Secured Party or the Borrower Loan Party referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative an Agent obtains such actual knowledge or receives such a notice, the Administrative such Agent shall give prompt notice thereof to each of the Lendersother Secured Parties. The Administrative Agent Upon the occurrence of an Event of Default, the Agents shall (subject to the provisions of SECTION 9.02) take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless Lenders. Unless and until the Administrative Agent Agents shall have received such directionsdirection, the Administrative Agent Agents may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to any such Default or Event of Default as it they shall deem advisable in the best interests interest of the Secured Parties. In no event shall the Agents be required to comply with any such directions to the extent that the Agents believe that their compliance with such directions would be unlawful.

Appears in 9 contracts

Sources: Credit Agreement (Burlington Stores, Inc.), Credit Agreement (Burlington Stores, Inc.), Credit Agreement (Burlington Stores, Inc.)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 8 contracts

Sources: Credit Agreement (Parker Drilling Co /De/), Senior Secured Credit Agreement (Day International Group Inc), Term Loan Agreement (Sirius Satellite Radio Inc)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or Unmatured 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 Lenders) unless such the Administrative Agent has shall have received written notice from a Lender or the Borrower 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.” In the event that the ”. The Administrative Agent receives will promptly notify the Lenders of its receipt of any such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as shall may be reasonably directed requested by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)in accordance with Section 12; provided that unless and until the Administrative Agent shall have has received any such directionsrequest, the Administrative 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 interests interest of the Secured PartiesLenders.

Appears in 8 contracts

Sources: Credit Agreement (MIDDLEBY Corp), Credit Agreement (MIDDLEBY Corp), Credit Agreement (Middleby Corp)

Notice of Default. No Neither Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received written notice from a Lender Lender, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative an Agent receives such a notice, the Administrative such Agent shall give notice thereof to the Lenders. The Administrative Agent Agents shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or the Majority Facility Lenders in respect of any other instructing group of Lenders specified by this AgreementFacility); provided that unless and until the Administrative such Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 8 contracts

Sources: First Lien Credit Agreement (Engility Holdings, Inc.), Second Lien Credit Agreement (Engility Holdings, Inc.), Credit Agreement (Booz Allen Hamilton Holding Corp)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender Lender, Parent, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 7 contracts

Sources: Credit Agreement (Six Flags Entertainment Corp), Credit Agreement (Six Flags Entertainment Corp), Credit Agreement (Six Flags Entertainment Corp)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has shall have received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 7 contracts

Sources: Credit Agreement (XCel Brands, Inc.), Term Loan Agreement (Radnor Holdings Corp), Credit Agreement (Parker Drilling Co /De/)

Notice of Default. No Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Potential Event of Default or Event of Default hereunder unless such the Administrative Agent has received written notice from a Lender or the Borrower referring to this Agreement, describing such Potential Event of Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Potential Event of Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any such number or percentage of the Lenders as shall be necessary under the circumstances as provided for herein or in the other instructing group of Lenders specified by this AgreementLoan Documents); provided that unless and until the Administrative Agent shall have received such directions, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Potential Event of Default or Event of Default as it shall deem advisable in good faith in the best interests of the Secured PartiesLenders.

Appears in 7 contracts

Sources: Loan and Security Agreement (Rapid Micro Biosystems, Inc.), Loan and Security Agreement (Shoulder Innovations, Inc.), Loan and Security Agreement (Shoulder Innovations, Inc.)

Notice of Default. No Neither the Administrative Agent nor the Collateral Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent or the Collateral Agent, as applicable, has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the LendersLenders and the Collateral Agent. The Administrative Agent and the Collateral Agent shall each take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this AgreementLenders); provided that unless and until the Administrative such Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 7 contracts

Sources: Credit Agreement (PACIFIC GAS & ELECTRIC Co), Term Loan Credit Agreement (PACIFIC GAS & ELECTRIC Co), Credit Agreement (PG&E Corp)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder 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 Lenders, unless such the Administrative Agent has shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice Notice of defaultDefault.” In the event that If the Administrative Agent receives any such notice of the occurrence of a noticeDefault or an Event of Default, the Administrative Agent it shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall may be reasonably directed requested by the Required Lenders (orin accordance with this Section 8; provided, if so specified by this Agreementhowever, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have has received any such directionsrequest, the Administrative 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 interests interest of the Secured PartiesLenders.

Appears in 6 contracts

Sources: Credit Agreement (Nii Holdings Inc), Credit Agreement (Nii Holdings Inc), Credit Agreement (Nii Holdings Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 6 contracts

Sources: Credit Agreement (Carmike Cinemas Inc), Second Lien Credit Agreement (New World Restaurant Group Inc), Credit Agreement (Itron Inc /Wa/)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender Lender, the Parent REIT or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 6 contracts

Sources: Sixth Amendment to Amended and Restated Credit Agreement (Essential Properties Realty Trust, Inc.), Credit Agreement (Essential Properties Realty Trust, Inc.), Credit Agreement (Essential Properties Realty Trust, Inc.)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has shall have received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 6 contracts

Sources: Credit Agreement (Gentiva Health Services Inc), Credit Agreement (Nevada Power Co), Revolving Credit and Guarantee Agreement (Impath Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender Lender, the Parent or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the LendersLenders or if such notice is from a Lender, to the Borrower. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 6 contracts

Sources: Credit Agreement (Cinemark Holdings, Inc.), Credit Agreement (Cinemark Usa Inc /Tx), Credit Agreement (Cinemark Usa Inc /Tx)

Notice of Default. No The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Collateral Agent has received written notice from the Controlling Party or a Lender or the Borrower Loan Party referring to this AgreementAgreement in accordance with Section 10.02, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the absence of receipt of such notice, the Collateral Agent may conclusively assume that there is no Default or Event of Default. In the event that the Administrative Collateral Agent receives such a notice, the Administrative Collateral Agent shall give notice thereof to the LendersSecured Parties. The Administrative Collateral Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)Controlling Party; provided that unless and until the Administrative Collateral Agent shall have received such directionsdirection, the Administrative 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 in the best interests of the Secured Parties.

Appears in 6 contracts

Sources: Loan Agreement, Guarantee and Security Agreement (Nuveen Mortgage Opportunity Term Fund 2), Guarantee and Security Agreement (Nuveen Mortgage Opportunity Term Fund 2)

Notice of Default. No The Administrative Agent shall be deemed not to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received notice from a Lender Lender, a Letter of Credit Issuer or the Borrower a Loan Party referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the LendersLenders and the Letter of Credit Issuers. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (oror such other number or percentage of the Lenders as shall be necessary, if so specified by or as the Administrative Agent shall believe in good faith to be necessary, under the circumstances as provided in this Agreement, all Lenders Agreement or any the other instructing group of Lenders specified by this AgreementLoan Documents); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders and the Letter of Credit Issuers.

Appears in 6 contracts

Sources: Credit Agreement (Americold Realty Trust), Credit Agreement (Americold Realty Trust), Credit Agreement (Americold Realty Trust)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender Lender, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 6 contracts

Sources: Credit Agreement (Protection One Alarm Monitoring Inc), Credit Agreement (Protection One Alarm Monitoring Inc), Term Loan Agreement (Haights Cross Communications Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender Lender, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 5 contracts

Sources: Credit Agreement (K&f Industries Inc), Credit Agreement (General Nutrition Companies Inc), Term Loan Agreement (Williams Companies Inc)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall promptly give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)Lenders; provided that (i) the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to liability or that is contrary to this Agreement or applicable law and (ii) unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 5 contracts

Sources: Credit Agreement (Cumulus Media Inc), First Lien Credit Agreement (Cumulus Media Inc), Second Lien Credit Agreement (Cumulus Media Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender Lender, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 5 contracts

Sources: Credit Agreement (Donnelley R H Inc), Credit Agreement (Donnelley R H Inc), Revolving Credit Agreement (Haights Cross Communications Inc)

Notice of Default. No Neither the Administrative Agent nor the Collateral Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent and/or the Collateral Agent has received notice from a Lender the Required Lenders or the Parent Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that If the Administrative Agent and/or the Collateral Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the LendersLenders and the Parent Borrower, if applicable. The Administrative Agent and/or the Collateral Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (orLenders; provided, if so specified by this Agreementhowever, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent and/or the Collateral Agent shall have received such directions, the Administrative Agent and/or 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 reasonably deem advisable in the best interests of the Secured PartiesLenders.

Appears in 5 contracts

Sources: Credit Agreement (Patheon Holdings Cooperatief U.A.), Credit Agreement (PGT, Inc.), Credit Agreement (Patheon Inc)

Notice of Default. No Neither Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this AgreementLenders); provided provided, that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 5 contracts

Sources: Credit Agreement (Cerence Inc.), Credit Agreement (Cerence Inc.), Credit Agreement (Open Lending Corp)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder hereunder, except with respect to any Default or Event of Default in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders unless such the Administrative Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative an Agent receives such a notice, the Administrative such Agent shall give notice thereof to the other Agent and the Lenders. The Administrative Each Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided provided, that unless and until the Administrative each Agent shall have received such directions, the Administrative Agent Agents 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 such Agent shall deem advisable in the best interests of the Secured Parties.

Appears in 5 contracts

Sources: Credit Agreement (Grindr Inc.), Credit Agreement (Grindr Inc.), Credit Agreement (Tiga Acquisition Corp.)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender or the a Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 5 contracts

Sources: Credit Agreement (Delek US Holdings, Inc.), Credit Agreement (Delek US Holdings, Inc.), Credit Agreement (Delek US Holdings, Inc.)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent it has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Agent receives such a notice, the Administrative Agent it shall promptly give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)Lenders; provided PROVIDED that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders, except to the extent that other provisions of this Agreement expressly require that any such action be taken or not be taken only with the consent and authorization or the request of the Lenders or Required Lenders, as applicable.

Appears in 4 contracts

Sources: Credit Agreement (Hickory Tech Corp), Credit Agreement (Hickory Tech Corp), Credit Agreement (Healthplan Services Corp)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received notice from a Lender or the Borrower Loan Party referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all or such other number or percentage of the Lenders as shall be expressly provided for herein or any in the other instructing group of Lenders specified by this AgreementLoan Documents); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 4 contracts

Sources: Credit Agreement (CorePoint Lodging Inc.), Credit Agreement (CorePoint Lodging Inc.), Credit Agreement (CorePoint Lodging Inc.)

Notice of Default. No Neither Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received written notice from a Lender Lender, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this AgreementLenders); provided provided, that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders. The Collateral Agent shall take such action with respect to such Default or Event of Default only as shall be directed by the Administrative Agent.

Appears in 4 contracts

Sources: Successor Agent Appointment and Agency Transfer Agreement (Rackspace Technology, Inc.), Incremental Assumption and Amendment Agreement (Rackspace Technology, Inc.), First Lien Credit Agreement (Rackspace Technology, Inc.)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received written notice from a Lender or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall promptly give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)Lenders; provided that (i) the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to liability or that is contrary to this Agreement or applicable law and (ii) unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 4 contracts

Sources: Credit Agreement (Citadel Broadcasting Corp), Credit Agreement (Citadel Broadcasting Corp), Credit Agreement (Citadel Broadcasting Corp)

Notice of Default. No Neither Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received written notice from a Lender Lender, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative an Agent receives such a notice, the Administrative such Agent shall give notice thereof to the Lenders. The Administrative Agent Agents shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or the Majority Facility Lenders in respect of any other instructing group of Lenders specified by this AgreementFacility); provided that unless and until the Administrative such Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 4 contracts

Sources: Credit Agreement (Engility Holdings, Inc.), Credit Agreement (Engility Holdings, Inc.), Credit Agreement (Engility Holdings, Inc.)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Collateral Agent and Lenders. The Administrative Each Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative such Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 4 contracts

Sources: Credit Agreement (Rotech Healthcare Inc), Credit Agreement (Rotech Healthcare Inc), Credit Agreement (Rotech Healthcare Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender Lender, or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided provided, that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Lenders and the Secured Parties.

Appears in 4 contracts

Sources: Incremental Commitment Agreement and Second Amendment (KAR Auction Services, Inc.), Incremental Commitment Agreement (KAR Auction Services, Inc.), Amendment and Restatement Agreement (KAR Auction Services, Inc.)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has shall have received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 4 contracts

Sources: Credit Agreement (National CineMedia, Inc.), Revolving Credit Agreement (National CineMedia, Inc.), Credit Agreement (National CineMedia, Inc.)

Notice of Default. No Neither Agent nor the Collateral Trustee shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent or Collateral Trustee has received written notice from a Lender or the Borrower Parent referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice Notice of defaultDefault.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the LendersLenders and the Collateral Trustee. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this AgreementLenders); provided provided, that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 4 contracts

Sources: Credit Agreement (Jazz Pharmaceuticals PLC), Credit Agreement (Jazz Pharmaceuticals PLC), Credit Agreement (Jazz Pharmaceuticals PLC)

Notice of Default. No Agent The Agents shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder 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 Financing Parties, unless such the Administrative Agent has shall have received written notice from a Lender Financing Party or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” In the event that the " The Administrative Agent receives will notify the Financing Parties of its receipt of any such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall may be reasonably directed by the Required Lenders (or, if so specified by or such other number or percentage of Lenders as shall be necessary under the circumstances as provided in Section 11.1 of this Agreement; provided, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have has received any such directionsdirection, the Administrative 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 interests interest of the Secured Financing Parties.

Appears in 4 contracts

Sources: Loan Agreement (Macquarie Infrastructure CO LLC), Loan Agreement (Macquarie Infrastructure CO LLC), Loan Agreement (Macquarie Infrastructure CO LLC)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or Unmatured 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 Lenders, unless such the Administrative Agent has shall have received written notice from a Lender or the Borrower Loan Party Representative referring to this Agreement, describing such Event of Default or Unmatured Event of Default and stating that such notice is a “notice of default.” In the event that the ”. The Administrative Agent receives will notify the Lenders of its receipt of any such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as shall may be reasonably directed requested by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)in accordance with Section 13.2; provided that unless and until the Administrative Agent shall have has received any such directionsrequest, the Administrative 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 interests interest of the Secured PartiesLenders.

Appears in 4 contracts

Sources: Credit Agreement (Russ Berrie & Co Inc), Credit Agreement (Russ Berrie & Co Inc), Credit Agreement (Russ Berrie & Co Inc)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received notice from a Lender, an Issuing Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders and the Issuing Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this AgreementLenders); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders and the Issuing Lenders.

Appears in 4 contracts

Sources: Credit Agreement (PG&E Corp), Credit Agreement (PG&E Corp), Credit Agreement (PACIFIC GAS & ELECTRIC Co)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall promptly give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 4 contracts

Sources: Term Loan Credit Agreement (Roundy's, Inc.), Asset Based Revolving Credit Agreement (Roundy's, Inc.), Credit Agreement (Roundy's, Inc.)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Administrative Agent shall take such action reasonably promptly with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all and/or such other requisite percentage of the Lenders or any other instructing group of Lenders specified by this Agreementas is required pursuant to Section 10.1(a); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Credit Agreement (Nci Building Systems Inc), Investment Agreement (Nci Building Systems Inc), Credit Agreement (Nci Building Systems Inc)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent it has received notice from a Lender or the Borrower Borrowers referring to this Agreement, describing such Default or Event of Default and stating that such notice is a notice of default.” . In the event that the Administrative Agent receives such a notice, the Administrative Agent it shall promptly give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)Lenders; provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders, except to the extent that other provisions of this Agreement expressly require that any such action be taken or not be taken only with the consent and authorization or the request of the Lenders or Required Lenders, as applicable.

Appears in 3 contracts

Sources: Credit Agreement (Urban Outfitters Inc), Credit Agreement (Urban Outfitters Inc), Credit Agreement (Urban Outfitters Inc)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received written notice from a Lender Lender, Intermediate Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the LendersLenders and Issuing Banks. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this AgreementLenders); provided provided, that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Amendment Agreement (Momentive Performance Materials Inc.), Senior Secured Debtor in Possession and Exit Asset Based Revolving Credit Agreement (Momentive Performance Materials Inc.), Asset Based Revolving Credit Agreement (Momentive Performance Materials Inc.)

Notice of Default. No The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Loan Documents, unless such the Agent has received notice from a Lender Lender, the Issuer or the Borrower a Loan Party referring to this AgreementAgreement or the Other Loan Documents, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the LendersLenders and the Issuer. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (orLenders; provided, if so specified by this Agreementhowever, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that that, unless and until the Administrative Agent shall have received such directions, the Administrative 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 is permitted hereunder or under applicable law and as it shall deem advisable in the best interests of the Secured PartiesLenders and the Issuer.

Appears in 3 contracts

Sources: Credit and Security Agreement (Stoneridge Inc), Credit and Security Agreement (Stoneridge Inc), Credit and Security Agreement (Stoneridge Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender Lender, the Borrower or the a Foreign Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Credit Agreement (Bucyrus International Inc), Credit Agreement (Bucyrus International Inc), Credit Agreement (Bucyrus International Inc)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or Unmatured 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 Lenders) unless such the Administrative Agent has shall have received written notice from a Lender or the Borrower 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.” In the event that the ”. The Administrative Agent receives will notify the Lenders of its receipt of any such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as shall may be reasonably directed requested by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)in accordance with Section 12; provided that unless and until the Administrative Agent shall have has received any such directionsrequest, the Administrative 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 interests interest of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Credit Agreement (Middleby Corp), Credit Agreement (Middleby Corp), Credit Agreement (Middleby Corp)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent it has received notice in writing from a Lender Bank or the Borrower Holdings or any Credit Party referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the LendersBanks. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)Banks; provided that that, unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesBanks (except to the extent that this Agreement expressly requires that such action be taken, or not be taken, only with the consent of the Required Banks as required hereunder).

Appears in 3 contracts

Sources: Credit Agreement (Morris Material Handling Inc), Credit Agreement (MMH Holdings Inc), Credit Agreement (MMH Holdings Inc)

Notice of Default. (a) No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. Lenders and, with respect to any such notice received from any Lender, the Borrower. (b) The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Credit Agreement (Henry Schein Inc), Credit Agreement (Henry Schein Inc), Credit Agreement (Henry Schein Inc)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or Unmatured 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 Lenders, unless such the Administrative Agent has shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Event of Default or Unmatured Event of Default and stating that such notice is a “notice of default.” In the event that ”. If the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to will notify the LendersLenders of its receipt of such notice. The Administrative Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as shall may be reasonably directed requested by the Required Lenders (orin accordance with this Article X; provided, if so specified by this Agreementhowever, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have has received any such directionsrequest, the Administrative 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 interests interest of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Credit Agreement (Snyder's-Lance, Inc.), Credit Agreement (Snyder's-Lance, Inc.), Credit Agreement (Snyder's-Lance, Inc.)

Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Agent has received notice from a Lender or the Borrower a Loan Party 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.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default (including, without limitation, the institution of the Default Rate pursuant to Section 3.1 hereof) as shall be reasonably directed by the Required Lenders (orLenders; provided, if so specified by this Agreementthat, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 (including, without limitation, the institution of the Default Rate pursuant to Section 3.1 hereof) as it shall deem advisable in the best interests of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Loan and Security Agreement (Edgen Louisiana CORP), Loan Agreement (Verrazano,inc.), Loan and Security Agreement (Velocity Express Corp)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender Lender, the REIT or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders, Supermajority Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Amendment and Restatement Agreement (Chatham Lodging Trust), Credit Agreement (Chatham Lodging Trust), Credit Agreement (Chatham Lodging Trust)

Notice of Default. No The Administrative Agent shall be deemed not to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall promptly give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Secured Revolving Credit Agreement (T-Mobile US, Inc.), Unsecured Revolving Credit Agreement (T-Mobile US, Inc.), Credit Agreement (T-Mobile US, Inc.)

Notice of Default. No The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Agent has received written notice from a Lender or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall promptly notify the Company (unless the Company shall have delivered such notice to the Agent) and then give notice thereof to the LendersLenders (provided that the failure to notify the Company shall not impair any of the rights of the Agent and the Lenders with respect to the events and circumstances specified in such notice). The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)Majority Lenders; provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Credit Agreement (Residential Capital, LLC), Bridge Loan Agreement (Capmark Financial Group Inc.), Bridge Loan Agreement (Capmark Finance Inc.)

Notice of Default. No Agent None of the Agents shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received written notice from a Lender or the Borrower Company referring to this Amended Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative any Agent receives such a notice, the Administrative such Agent shall promptly give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)Lenders; provided that (i) the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to liability or that is contrary to this Amended Agreement or applicable law and (ii) unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Credit Agreement (Be Aerospace Inc), Credit Agreement (Be Aerospace Inc), Credit Agreement (Be Aerospace Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent and the Collateral Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this AgreementLenders); provided that unless and until the Administrative Agent or the Collateral Agent shall have received such directions, the Administrative Agent or 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 in the best interests of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Credit Agreement (Key Energy Group Inc), Credit Agreement (Key Energy Group Inc), Credit Agreement (Key Energy Group Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided provided, that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured Parties.

Appears in 3 contracts

Sources: Credit Agreement (Lantheus Holdings, Inc.), Credit Agreement (Lantheus Holdings, Inc.), Credit Agreement (Lantheus Holdings, Inc.)

Notice of Default. No The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder hereunder, except with respect to any Default or Event of Default in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders unless such the Administrative Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative an Agent receives such a notice, the Administrative such Agent shall give notice thereof to the other Agent and the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided provided, that unless and until the Administrative Agent shall have received such directions, the Administrative 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 the Agent shall deem advisable in the best interests of the Secured Parties.

Appears in 3 contracts

Sources: Credit Agreement (ARKO Corp.), Credit Agreement (ARKO Corp.), Credit Agreement (ARKO Corp.)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder 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 Banks, unless such the Administrative Agent has shall have received written notice from a Lender Bank or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice "Notice of default.” Default". In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the LendersBanks. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed requested by the Required Lenders (orMajority Banks in accordance with Article VIII; PROVIDED, if so specified by this AgreementHOWEVER, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received any such directionsrequest, the Administrative 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 reasonably deem advisable in the best interests of the Secured Partiesadvisable.

Appears in 3 contracts

Sources: Credit Agreement (Schuler Residential Inc), Revolving Credit Agreement (Schuler Homes Inc), Credit Agreement (Schuler Homes Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this AgreementLenders); provided PROVIDED that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Credit Agreement (Axiohm Transaction Solutions Inc), Credit Agreement (Dardel Technologies E U R L), Credit Agreement (Cumulus Media Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent it has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative an Agent receives such a notice, the Administrative Agent it shall promptly give notice thereof to the Lenders. The Administrative Agent Agents shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreementwhen expressly required hereby, all Lenders or any other instructing group of Lenders specified by this Agreementthe Lenders); provided that unless and until the Administrative Agent Agents shall have received such directions, the Administrative Agent Agents 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 in the best interests of the Secured PartiesLenders, except to the extent that other provisions of this Agreement expressly require that any such action be taken or not be taken only with the consent and authorization or the request of the Lenders or Required Lenders, as applicable.

Appears in 3 contracts

Sources: Credit Agreement (Interface Inc), Credit Agreement (Interface Inc), Credit Agreement (Interface Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender or Lender, the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Credit Agreement (Carmike Cinemas Inc), Credit Agreement (Carmike Cinemas Inc), Credit Agreement (Carmike Cinemas Inc)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or Unmatured 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 Lenders, unless such the Administrative Agent has shall have received written notice from a Lender or the Borrower 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.” In the event that the ". The Administrative Agent receives will notify the Lenders of its receipt of any such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as shall may be reasonably directed requested by the Required Lenders (orin accordance with ARTICLE IX; PROVIDED, if so specified by this AgreementHOWEVER, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have has received any such directionsrequest, the Administrative 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 interests interest of the Secured PartiesLenders.

Appears in 3 contracts

Sources: Credit Agreement (Compass International Services Corp), Credit Agreement (Rayovac Corp), Credit Agreement (Rayovac Corp)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent it has received written notice from a Lender Lender, Issuing Bank or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent it shall give notice thereof to the LendersLenders and Issuing Banks. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this AgreementAgreement or any other Loan Document, all Lenders or any other instructing group of Lenders specified by this Agreementand Issuing Banks); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 the Administrative Agent shall deem advisable in the best interests of the Secured PartiesLenders and Issuing Banks.

Appears in 2 contracts

Sources: Credit Agreement (Micron Technology Inc), Credit Agreement (Micron Technology Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender Lender, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative an Agent receives such a notice, the Administrative such Agent shall give notice thereof to the Lenders. The Administrative Agent Agents shall take such action with respect to such Default or Event of Default as shall be reasonably directed in writing by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group (or, in the case of Lenders specified by this Agreementthe Collateral Agent, as directed in writing the Administrative Agent)); provided that unless and until the Administrative Agent Agents shall have received such directions, the Administrative Agent Agents 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Credit Agreement (Generac Holdings Inc.), Credit Agreement (Generac Holdings Inc.)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder (except a payment default) unless such Agent has received notice from a Lender or the Borrower Borrowers referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Secured Revolving Credit Agreement (Monster Worldwide Inc), Secured Revolving Credit Agreement (Monster Worldwide Inc)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received notice from a Lender Lender, the Parent or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or the Majority Facility Lenders in respect of any other instructing group of Lenders specified by this AgreementFacility); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Credit Agreement (Yankee Finance, Inc.), Credit Agreement (Yankee Holding Corp.)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Credit Agreement (Inamed Corp), Credit Agreement (Cumulus Media Inc)

Notice of Default. No In no circumstance will the Syndication Agent or the Issuing Bank be deemed to have knowledge or notice of any Default or Event of Default or any duty or responsibility relating thereto. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received written notice from a Lender or the Borrower referring to this Agreement, Harvard describing such Default or Event of Default and stating that such notice is a “notice of default.” Default. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall promptly give notice thereof to the LendersLenders and the Issuing Bank. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Lenders, or Required Lenders (orLenders, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)as the case may require; provided that unless and until the Administrative Agent shall have received such directionsdirection, the Administrative Agent may in the interim (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 and in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Secured Debtor in Possession Financing Agreement (Harvard Industries Inc), Financing Agreement (Harvard Industries Inc)

Notice of Default. No The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Collateral Agent has received written notice from a Lender Holder or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Collateral Agent receives such a notice, the Administrative Collateral Agent shall promptly give notice thereof to the Lendersall Holders. The Administrative Collateral Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (orHolders, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that (i) the Collateral Agent shall not be required to take any action that exposes the Collateral Agent to any Liability or that is contrary to this Agreement or applicable Law and (ii) unless and until the Administrative Collateral Agent shall have received such directions, the Administrative Collateral 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 or Default as it shall deem advisable in the best interests of the Secured PartiesHolders.

Appears in 2 contracts

Sources: Convertible Note Purchase Agreement (Appaloosa Management Lp), Convertible Note Purchase Agreement (Bio Plexus Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender Lender, Holdings or the Borrower Borrowers referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Credit Agreement (Aveta Inc), Credit Agreement (Aveta Inc)

Notice of Default. No Agent None of the Agents or the Lead Arranger shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent or the Lead Arranger has received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all or such other Lenders or any other instructing group as may be required to give such direction pursuant to the terms of Lenders specified by this Agreement); provided provided, that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Empire Resorts Inc), Building Term Loan Agreement (Empire Resorts Inc)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder 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 Lenders, unless such the Administrative Agent has shall have received written notice from a Lender or the any Borrower referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the The Administrative Agent receives will notify the Lenders promptly of its receipt of any such notice and/or upon learning that there is a notice, the Administrative Agent shall give notice thereof to the LendersDefault or Event of Default. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall may be reasonably directed by the Required Lenders (orin accordance herewith; provided, if so specified by this Agreementhowever, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have has received any such directionsdirection, the Administrative 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 interests interest of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Credit Agreement (Aviv Healthcare Properties L.P.), Credit Agreement (Bellingham II Associates, L.L.C.)

Notice of Default. No Neither Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if entitled to so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)act; provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders (except to the extent that this Agreement expressly requires that such actions be taken or not be taken only with the consent or upon the authorization of the Required Lenders).

Appears in 2 contracts

Sources: Credit and Guarantee Agreement (Kinetic Concepts Inc /Tx/), Credit and Guarantee Agreement (Kci New Technologies Inc)

Notice of Default. No Agent Neither of the Agents shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder (except that the Operating Agent shall be deemed to have knowledge of any Event of Default occurring by reason of a failure by the Company to make a payment to or through the Operating Agent under this Agreement or any Note), unless such Agent has shall have received notice from a Lender Bank or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Operating Agent receives shall receive such a notice, the Administrative Operating Agent shall give notice thereof to the LendersBanks. The Administrative Operating Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed requested by the Required Lenders (orMajority Banks in accordance with Article VII; provided, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Operating Agent shall have received such directionsa request, the Administrative Operating 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 in the best interests of the Secured PartiesBanks.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Mci Communications Corp), Revolving Credit Agreement (Mci Communications Corp)

Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Agent has received notice from a Lender or the 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.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Subject to Section 14.01, Agent shall take such action with respect to such Default or Event of Default (including, without limitation, the institution of the Default Rate pursuant to Section 3.01) as shall be reasonably directed by the Required Lenders (orLenders; provided, if so specified by this Agreementthat, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 (including, without limitation, the institution of the Default Rate pursuant to Section 3.01) as it shall deem advisable in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Loan and Security Agreement (Forbes Energy Services Ltd.), Loan and Security Agreement (Forbes Energy Services Ltd.)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided provided, that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Credit Agreement (Innophos, Inc.), Credit Agreement (Innophos Investment Holdings, Inc.)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or Unmatured 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 applicable Lenders, unless such the Administrative Agent has shall have received written notice from a Lender Lender, a Borrower or the Borrower other Agent referring to this Agreement, describing such Event of Default or Unmatured Event of Default and stating that such notice is a “notice of default.” In the event that the ”. The Administrative Agent receives will promptly notify the Lenders of its receipt of any such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as shall may be reasonably directed requested by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)in accordance with Section 8; provided that unless and until the Administrative Agent shall have has received any such directionsrequest, the Administrative 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 interests interest of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Credit Agreement (Smith a O Corp), Credit Agreement (Smith a O Corp)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender Lender, the REIT or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders, Supermajority Lenders or any other instructing group of Lenders specified by this Agreement); provided that that, unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Term Loan Credit Agreement (Chatham Lodging Trust), Amended and Restated Credit Agreement (Chatham Lodging Trust)

Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Agent has received notice from a Lender, Term Lender or the Borrower a Loan Party 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.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the LendersLenders and Term Lender. The Administrative Agent shall take such action with respect to such Default or Event of Default (including, without limitation, the institution of the Default Rate pursuant to Section 3.1 hereof) as shall be reasonably directed by the Required Lenders (orLenders; provided, if so specified by this Agreementthat, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 (including, without limitation, the institution of the Default Rate pursuant to Section 3.1 hereof) as it shall deem advisable in the best interests of the Secured PartiesLenders and Term Lender.

Appears in 2 contracts

Sources: Financing Agreement (Rafaella Apparel Group,inc.), Financing Agreement (Rafaella Apparel Group,inc.)

Notice of Default. No Agent None of the Agents shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received written notice from a Lender or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative any Agent receives such a notice, the Administrative such Agent shall promptly give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement)Lenders; provided that (i) the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to liability or that is contrary to this Agreement or applicable law and (ii) unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Loan Agreement (B/E Aerospace Inc), Credit Agreement (Be Aerospace Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Credit Agreement (Anc Rental Corp), Credit Agreement (Infinity Property & Casualty Corp)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender or the Lender, a Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Credit Agreement (Waste Services, Inc.), Credit Agreement (Waste Services, Inc.)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action reasonably promptly with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all and/or such other requisite percentage of the Lenders or any other instructing group of Lenders specified by this Agreement)as is required pursuant to subsection 13.1; provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Credit and Guarantee Agreement, Credit and Guarantee Agreement (Sirva Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender Lender, the REIT, or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Credit Agreement (Hudson Pacific Properties, Inc.), Credit Agreement (Hudson Pacific Properties, Inc.)

Notice of Default. No Neither the Administrative Agent nor the Collateral Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the LendersLenders and the Collateral Agent. The Administrative Agent and the Collateral Agent shall each take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Requisite Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this AgreementLenders); provided that unless and until the Administrative Agent or the Collateral Agent, as the case may be, shall have received such directions, the Administrative Agent and the Collateral Agent each 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Credit and Guaranty Agreement (21st Century Oncology Holdings, Inc.), Credit and Guaranty Agreement (21st Century Oncology Holdings, Inc.)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender or the a Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured Parties.

Appears in 2 contracts

Sources: Amendment and Restatement Agreement (Gogo Inc.), Credit Agreement (Gogo Inc.)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender or the Borrower Parent referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent it shall give notice thereof to the LendersLenders and the Collateral Agent. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (orLenders, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders except to the extent that this Agreement requires that such action be taken only with the approval of the Required Lenders or each of the Lenders, as applicable.

Appears in 2 contracts

Sources: Credit Agreement (EVERTEC, Inc.), Credit Agreement (EVERTEC, Inc.)

Notice of Default. No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents, unless such Agent has received notice from a Lender or the Borrower a Loan Party 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.” ". In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default (including, without limitation, the institution of the Default Rate pursuant to Section 3.1 hereof) as shall be reasonably directed by the Required Lenders (orLenders; provided, if so specified by this Agreementthat, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 (including, without limitation, the institution of the Default Rate pursuant to Section 3.1 hereof) as it shall deem advisable in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Loan and Security Agreement (Brown Jordan International Inc), Loan and Security Agreement (Jaco Electronics Inc)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has shall have received notice from a Lender Lender, the Parent, DOC or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative Agent receives shall receive such a notice, the Administrative Agent shall promptly give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders.

Appears in 2 contracts

Sources: Credit Agreement (Dobson Communications Corp), Credit Agreement (Dobson Communications Corp)

Notice of Default. No Neither Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender Bank or the either Facility Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". In the event that the Administrative either Agent receives such a notice, the Administrative such Agent shall give notice thereof to the LendersBanks, and, if such notice is received from a Bank, such Agent shall give notice thereof to each Facility Borrower and each other Bank. The Subject to the proviso contained in Section 12.1, the Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders Banks (or, if so specified by in this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreementthe Banks); provided that that, unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesBanks.

Appears in 2 contracts

Sources: Short Term Revolving Credit Agreement (Chrysler Financial Corp), Short Term Revolving Credit Agreement (Chrysler Financial Corp)

Notice of Default. No An Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder hereunder, unless such Agent has received written notice from a Lender or the a Borrower referring to this the Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” In the event that ". If the Administrative Agent receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified or when expressly required by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreementthe Lenders); provided provided, however, that unless and until the Administrative Agent shall have has received any such directionsdirection, the Administrative 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 or it shall deem advisable or in the best interests interest of the Secured PartiesLenders, except to the extent that the other provisions of this Agreement expressly require that any such action be taken or not be taken only with the consent or at the request of the Lenders or the Required Lenders, as applicable.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Carpenter Technology Corp), 364 Day Revolving Credit Agreement (Carpenter Technology Corp)

Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent it shall give notice thereof to the LendersLenders and the Collateral Agent. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (orLenders, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders except to the extent that this Agreement requires that such action be taken only with the approval of the Required Lenders or each of the Lenders, as applicable.

Appears in 2 contracts

Sources: Credit Agreement (EVERTEC, Inc.), Credit Agreement (EVERTEC, Inc.)

Notice of Default. No The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless such the Administrative Agent has received notice from a Lender Lender, a Letter of Credit Issuer or the Borrower Loan Party referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders, and the Letter of Credit Issuers. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (oror such other number or percentage of the Lenders as shall be necessary, if so specified by or as the Administrative Agent shall believe in good faith to be necessary, under the circumstances as provided in this Agreement, all Lenders Agreement or any the other instructing group of Lenders specified by this AgreementLoan Documents); provided that unless and until the Administrative Agent shall have received such directions, the Administrative 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 in the best interests of the Secured PartiesLenders and the Letter of Credit Issuers.

Appears in 2 contracts

Sources: Credit Agreement (Americold Realty Trust), First Lien Credit Agreement (International Market Centers, Inc.)