Actionable Default. (a) Upon receipt of a Notice of Actionable Default, the Collateral Trustees shall, within five (5) Business Days thereafter, notify each Agent that it has received a Notice of Actionable Default. Upon receipt of any written directions pursuant to Section 2.2, 2.6(a) or 2.6(b) the Collateral Trustees shall, within five (5) Business Days thereafter, send a copy thereof to each Agent.
Actionable Default. Each Secured Party shall (or, in the case of the Lenders, at their option, shall cause the Credit Agent to) deliver to the Collateral Agent a notice in writing of an Actionable Default and the nature thereof promptly (and in any event within 1 Business Day) after it learns of the occurrence of an Actionable Default. Any Secured Party (or the Credit Agent, as the case may be) which has given a notice of an Actionable Default shall be entitled to withdraw it in accordance with the terms of the applicable Transaction Documents by delivering a written notice of withdrawal to the Collateral Agent; provided, that no such withdrawal may be made (i) after the receipt by the Collateral Agent of a Remedies Demand, unless such withdrawal is made by the sender of the Remedies Demand, or (ii) after the Collateral Agent takes any action to exercise any right, power or remedy with respect to the Collateral pursuant to this Agreement. Any notice of the occurrence or withdrawal of an Actionable Default given by any Secured Party, the Credit Agent or the Collateral Agent pursuant hereto may be included in a notice of the occurrence or withdrawal, as the case may be, of an Event of Default given pursuant to Section 4(a) or 4(b) hereof.
Actionable Default. (a) Upon receipt of a Notice of Actionable Default, the Collateral Trustee shall, within five (5) Business Days thereafter, notify each Secured Party and each Grantor in the manner provided in Section 8.2 of this Agreement that a Notice of Actionable Default has been received. Upon receipt of any written directions pursuant to Section 3.2(a) of this Agreement, the Collateral Trustee shall, within five (5) Business Days thereafter, send a copy thereof to each Secured Party and each Grantor in the manner provided in Section 8.2 of this Agreement.
Actionable Default. 10 Section 3.2 Control by Lender and Indenture Trustee......................... 10 Section 3.3 Remedies........................................................ 11 Section 3.4 Right to Initiate Judicial Proceedings, etc..................... 13 Section 3.5 Appointment of a Receiver....................................... 13 Section 3.6
Actionable Default. Any Event of Default under and as defined in the Credit Agreement or Event of Default under and as defined in any of the Indentures.
Actionable Default. The Collateral Agent will not be required to inquire as to the occurrence or absence of any Actionable Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Actionable Default unless and until it receives a Notice of Actionable Default and instructions pursuant to an Act of Instructing Secured Parties.
Actionable Default. 6- Section 3.2 Remedies..................................................... -7- Section 3.3 Right to Initiate Judicial Proceedings, etc.................. -8- Section 3.4 Appointment of a Receiver.................................... -8- Section 3.5
Actionable Default. Any failure of the Company or any Guarantor to ------------------ pay any of the Secured Obligations as and when due and payable in accordance with the terms of any Bank Credit Document, Note Credit Document, Reimbursement Agreement, Equipment Lease or Security Document, whether by acceleration (including automatic acceleration upon the commencement of a bankruptcy case) or otherwise (collectively, a "Payment Default"), or the commencement of any bankruptcy, insolvency, reorganization or other similar case or proceeding by or against the Company or any Guarantor, or the making by the Company or any Guarantor of an assignment for the benefit of its creditors. Additional Advance Amount. The principal amount of any additional ------------------------- loans made or letters of credit issued under the Credit Agreement such that, after giving effect to all of such additional loans and letters of credit, the sum of the Loan and Reimbursement Principal Obligations and Outstanding Bank LC Exposure at the time of reference thereto do not exceed in the aggregate the Maximum Bank Commitment.
Actionable Default. Any Event of Default under and as defined in the Credit Agreement or Event of Default under and as defined in the Indenture. Agency Agreements. Each Agency Account Agreement (and any additions, replacements or substitutions thereof) among the Borrowers, the Agent, the Collateral Agent and each of the Borrowers' depository banks covering all concentration (and, to the extent required by the Requisite Party, other) accounts of the Borrowers with such banks, together with all notices in substantially the form of Exhibit A to the Company Security Agreement (as defined in the Credit Agreement) or, as the case may be, to the Subsidiary Security Agreement (as defined in the Credit Agreement) given by the Borrowers and the Collateral Agent to the Borrowers' depository banks with respect to local depository accounts. Agreement. This Intercreditor and Collateral Agency Agreement.
Actionable Default. Any Event of Default under and as defined in the Credit Agreement or an Event of Default under and as defined in the Note Purchase Agreements.
