Waterfall Activation Notice definition
Waterfall Activation Notice means a written notice delivered by the Required First Out Lenders to the Administrative Agent and the Borrower electing that all payments on account of the Obligations and all proceeds of Collateral be applied in accordance with the provisions of Section 8.03(b).
Waterfall Activation Notice has the meaning set forth in Section 5(b) hereof.
Examples of Waterfall Activation Notice in a sentence
Notwithstanding anything to the contrary contained in this Agreement, nothing contained in this Section 2 shall prevent the Required First Out Holders from giving a Waterfall Activation Notice at any time after the occurrence and during the continuance of a Waterfall Trigger Event.