Common use of Action Upon Default Clause in Contracts

Action Upon Default. Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower or Required Lenders specifying the occurrence and nature thereof. Agent shall promptly forward such notice to all Lenders. If any Lender acquires knowledge of a Default, Event of Default or failure of such conditions, it shall promptly notify Agent and the other Lenders thereof in writing. Each Secured Party agrees that, except as otherwise provided in any Loan Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations (other than Secured Bank Product Obligations), or exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral or to assert any rights relating to any Collateral. Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in an Insolvency Proceeding.

Action Upon Default. Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower Agent or Borrowers or Required Lenders specifying the occurrence and nature thereof. Agent shall promptly forward such notice to all Lenders. If any Lender acquires knowledge of a Default, Event of Default or failure of such conditions, it shall promptly notify Agent and the other Lenders thereof in writing. Each Secured Party agrees that, except as otherwise provided in any Loan Credit Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate any Obligations (other than Secured Bank Product ObligationsIndebtedness), or assert any rights relating to any Collateral (including the exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral or to assert any rights relating to any Collateral). Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in an any proceeding under any Insolvency Proceeding.

Action Upon Default. Administrative Agent shall be entitled to assume that no Default or Event of Default has occurred and is continuing and shall not be deemed to have knowledge of any Default or Event of DefaultDefault unless, in its capacity as a Lender it has actual knowledge thereof, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower any other Lender or Required Lenders any Credit Party specifying the occurrence and nature thereof. Agent shall promptly forward such notice to all Lenders. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify Administrative Agent and the other Lenders thereof in writingwriting specifying in detail the nature thereof. Each Secured Party Lender agrees that, except as otherwise provided in any Loan Documents or with the written consent of Administrative Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations (other than Secured Bank Product Obligations)under any Loan Documents, or exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales sales, or other similar dispositions of Collateral or to assert any rights relating to any Collateral. Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor a Borrower where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in an Insolvency Proceeding.

Action Upon Default. The Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, Default unless it has received written notice from a Lender or a Borrower or Required Lenders specifying the occurrence and nature thereof. If the Agent receives such a notice or otherwise acquires actual knowledge of any Default or Event of Default, the Agent shall promptly forward such notice to all Lendersnotify the Lenders in writing. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify the Agent and the other Lenders thereof in writing. Each Secured Party Lender agrees that, except as otherwise provided in any Loan Documents or with the written consent of the Agent and Required the Requisite Lenders, it such Lender will not take any Enforcement Action, accelerate Obligations (other than Secured Bank Product its Obligations), or exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales sales, or other similar dispositions of Collateral or to assert any rights relating to any Collateral. Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in an Insolvency Proceeding.

Action Upon Default. The Agent shall be entitled to assume that no Default or Event of Default has occurred and is continuing and shall not be deemed to have knowledge of any Default or Event of DefaultDefault unless, in its capacity as a Lender it has actual knowledge thereof, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower any other Lender or Required Lenders any Credit Party specifying the occurrence and nature thereof. Agent shall promptly forward such notice to all Lenders. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify the Agent and the other Lenders thereof in writingwriting specifying in detail the nature thereof. Each Secured Party Lender agrees that, except as otherwise provided in any Loan Documents or with the written consent of the Agent and Required Lenders, it will not take any Enforcement Actionenforcement action, accelerate Obligations (other than Secured Bank Product Obligations)under any Loan Documents, or exercise any right that it might otherwise have under Applicable Requirements of Law to credit bid at foreclosure sales, UCC sales sales, or other similar dispositions of Collateral or to assert any rights relating to any Collateral. Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor a Borrower where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in an Insolvency Proceeding.

Action Upon Default. Administrative Agent shall be entitled to assume that no Default or Event of Default has occurred and is continuing and shall not be deemed to have knowledge of any Default or Event of DefaultDefault unless, in its capacity as a Lender it has actual knowledge thereof, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower any other Lender or Required Lenders any Credit Party specifying the occurrence and nature thereof. Agent shall promptly forward such notice to all Lenders. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify Administrative Agent and the other Lenders thereof in writingwriting specifying in detail the nature thereof. Each Secured Party Lender agrees that, except as otherwise provided in any Loan Documents or with the written consent of Administrative Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations (other than Secured Bank Product Obligations)under any Loan Documents, or exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales sales, or other similar dispositions of Collateral or to assert any rights relating to any Collateral. Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor a Borrower where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such LenderXxxxxx, including the filing of proofs of claim in an Insolvency Proceeding.

Action Upon Default. Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, Default unless it has received written notice from Borrower a Lender or Required Lenders a Loan Party specifying the occurrence and nature thereof. Agent shall promptly forward such notice to all Lenders. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify Agent and the other Lenders thereof in writing. Each Secured Party Lender agrees that, except as otherwise provided in any Loan Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations (other than Secured Bank Product its Obligations), or exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral or to assert any rights relating to any Collateral. Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor a Loan Party where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in an Insolvency Proceeding.

Action Upon Default. Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, Default unless it has received written notice from a Lender or Borrower or Required Lenders specifying the occurrence and nature thereof. If Agent receives such a notice or otherwise acquires actual knowledge of any Default or Event of Default, Agent shall promptly forward such notice to all Lendersnotify Lenders in writing. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify Agent and the other Lenders thereof in writing. Each Secured Party Lender agrees that, except as otherwise provided in any Loan Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations (other than Secured Bank Product its Obligations), or exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral or to assert any rights relating to any Collateral. Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in an Insolvency Proceedingany proceeding under any Debtor Relief Law.

Action Upon Default. Administrative Agent shall be entitled to assume that no Default or Event of Default has occurred and is continuing and shall not be deemed to have knowledge of any Default or Event of DefaultDefault unless, in its capacity as a Lender it has actual knowledge thereof, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower any other Lender or Required Lenders any Credit Party specifying the occurrence and nature thereof. Agent shall promptly forward such notice to all Lenders. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify Administrative Agent and the other Lenders thereof in writingwriting specifying in detail the nature thereof. Each Secured Party Lender agrees that, except as otherwise provided in any Loan Documents or with the written consent of Administrative Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations (other than Secured Bank Product Obligations)under any Loan Documents, or exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales sales, or other similar dispositions of Collateral or to assert any rights relating to any Collateral. Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor a Borrower where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such LenderXxxxxx, including the filing of proofs of claim in an Insolvency Proceeding.. 12.5

Action Upon Default. Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower or Required Lenders specifying the occurrence and nature thereof. If Agent receives such a notice or otherwise acquires actual knowledge of any Default or Event of Default, or any failure of such conditions, Agent shall promptly forward such notice to all Lendersnotify Lenders in writing. If any Lender acquires knowledge of a Default, Default or Event of Default or failure of such conditionsDefault, it shall promptly notify Agent and the other Lenders thereof in writing. Each Secured Party Lender agrees that, except as otherwise provided in any Loan Credit Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate its Obligations (other than Secured Bank Product ObligationsIndebtedness), or exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral or to assert any rights relating to any Collateral. Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against an Obligor where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in an Insolvency Proceedingany proceeding under any Debtor Relief Law.