Notices of Payment Failure. The Paying Agent shall deliver prompt written notice to the Company, the Purchase Money Notes Guarantor and the Collateral Agent in the event that it fails to receive in full the amount required to be paid by the Company, which notice shall include a statement that the required payment was not made by the Company in full and shall set forth the amount of such required payment and in the case of receipt of a partial payment, the amount of such partial payment.
Appears in 4 contracts
Samples: Custodial and Paying Agency Agreement, Custodial and Paying Agency Agreement, Custodial and Paying Agency Agreement
Notices of Payment Failure. (a) The Paying Agent shall deliver prompt written notice to the Company, the Purchase Money Notes Guarantor and the Collateral Agent Company in the event that it fails to receive in full on the related Distribution Date (based on the Cash Flow and Distribution Report), the amount required to be paid by the CompanyCompany on any Distribution Date, which notice shall include a statement that the required payment was not made by the Company in full and shall set forth the amount of such required payment and in the case of receipt of a partial payment, the amount of such partial payment.
Appears in 1 contract
