Common use of Security Event Clause in Contracts

Security Event. If the Company so desires that the Facility again become unsecured following a Negative Security Event (even though no Positive Security Event has occurred since the occurrence of the Negative Security Event), it shall notify each Lender in writing of such desire within thirty days after the occurrence of the Negative Security Event (which notice shall identify the facts giving rise to the Negative Security Event), and the Facility shall again become unsecured (A) if and only if the Required Lenders so consent within thirty days after such notification from the Company (a "Negative Event Waiver") and (B) only so long as no further Negative Security Event (i.