Common use of Officer's Knowledge of Default Clause in Contracts

Officer's Knowledge of Default. Upon any officer of the Borrower or CPV obtaining knowledge of any Default or Event of Default hereunder or under any other obligation of the Borrower or other Credit Party to any Lender, or any event, development or occurrence which could reasonably be expected to have a Material Adverse Effect, cause such officer or an Authorized Representative to promptly notify the Agent of the nature thereof, the period of existence thereof, and what action the Borrower or other Credit Party proposes to take with respect thereto;

Appears in 3 contracts

Samples: Credit Agreement (CentraCore Properties Trust), Credit Agreement (Correctional Properties Trust), Credit Agreement (Correctional Properties Trust)

AutoNDA by SimpleDocs

Officer's Knowledge of Default. Upon any officer of the Borrower or CPV obtaining knowledge of any Default or Event of Default hereunder or under any other obligation of the Borrower or any Subsidiary or other Credit Party to any Lender, or any event, development or occurrence which could reasonably be expected to have a Material Adverse Effect, cause such officer or an Authorized Representative to promptly notify the Agent of the nature thereof, the period of existence thereof, and what action the Borrower or such Subsidiary or other Credit Party proposes to take with respect thereto;.

Appears in 3 contracts

Samples: Credit Agreement (Cone Mills Corp), Credit Agreement (Uti Corp), Credit Agreement (Uti Corp)

Officer's Knowledge of Default. Upon any officer of the Borrower or CPV Responsible Officer obtaining knowledge of any Default or Event of Default hereunder or under any other obligation of the Borrower or other Credit Party to any Lender, or any event, development or occurrence which could reasonably be expected to have a Material Adverse Effect, cause such officer or an Authorized Representative to promptly notify the Agent of the nature thereof, the period of existence thereof, thereof and what action the Borrower or other Credit Party proposes to take with respect thereto;

Appears in 1 contract

Samples: Guaranty Agreement (Data General Corp)

Officer's Knowledge of Default. Upon any officer of the Borrower or CPV obtaining knowledge of any Default or Event of Default hereunder or under any other obligation of the Borrower or any Subsidiary or other Credit Party to any Lender, or any event, development or occurrence which could reasonably be expected to have a Material Adverse Effect, cause such officer or an Authorized Representative to promptly notify the Agent of the nature thereof, the period of existence thereof, and what action the Borrower or such Subsidiary or other Credit Party proposes to take with respect thereto;. 77 84

Appears in 1 contract

Samples: Credit Agreement (Insteel Industries Inc)

AutoNDA by SimpleDocs

Officer's Knowledge of Default. Upon any officer of the Borrower or CPV any Credit Party obtaining knowledge of any Default or Event of Default hereunder or under any other obligation of the Borrower or other any Credit Party to any Lender, or any event, development or occurrence which could reasonably be expected to have a Material Adverse Effect, cause such officer or an Authorized Representative to promptly notify the Agent of the nature thereof, the period of existence thereof, and what action the Borrower or other such Credit Party proposes to take with respect thereto;

Appears in 1 contract

Samples: Credit Agreement (Aircastle LTD)

Officer's Knowledge of Default. Upon any officer of the either Borrower or CPV obtaining knowledge of any Default or Event of Default hereunder or under any other obligation of the Borrower or any Subsidiary or other Credit Party to any Lender, or any event, development or occurrence which could reasonably be expected to have a Material Adverse Effect, cause such officer or an Authorized Representative to promptly notify the Administrative Agent of the nature thereof, the period of existence thereof, and what action the Borrower or such Subsidiary or other Credit Party proposes to take with respect thereto;.

Appears in 1 contract

Samples: Credit Agreement (Pepsiamericas Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.