Common use of Notice of Default Clause in Contracts

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 29 contracts

Samples: Revolving Credit Agreement (Markwest Energy Partners L P), Second Lien Credit Agreement (Erickson Air-Crane Inc), Second Lien Credit Agreement (Erickson Air-Crane Inc)

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Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or Unmatured Event of Default, Default except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower Company referring to this Agreement, describing such Event of Default or Unmatured Event of Default and stating that such notice is a “notice of default.” ”. The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as may be directed requested by the Required Lenders in accordance with Article VIIISection 13; provided, however, provided that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Unmatured Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 28 contracts

Samples: Credit Agreement (Andalusian Credit Company, LLC), Credit Agreement (Continental Materials Corp), Credit Agreement (Morgan Stanley Direct Lending Fund)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 27 contracts

Samples: Credit Agreement (Markwest Energy Partners L P), Credit Agreement (Louisiana Pacific Corp), Assignment and Acceptance Agreement (Enbridge Energy Partners Lp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required requisite Lenders in accordance with Article VIIIherewith; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 21 contracts

Samples: Credit Agreement (American Healthcare REIT, Inc.), Credit Agreement (Griffin-American Healthcare REIT III, Inc.), Credit Agreement (Griffin-American Healthcare REIT IV, Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Subject to the other provisions of this Article IX, the Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, provided that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 17 contracts

Samples: Credit Agreement (KORE Group Holdings, Inc.), Credit Agreement (RingCentral, Inc.), Credit Agreement (Holley Inc.)

Notice of Default. The None of the Administrative Agent or the Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Subject to the other provisions of this Article IX, the Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, provided that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 15 contracts

Samples: Credit Agreement (Wyndham Hotels & Resorts, Inc.), Credit Agreement (Clear Channel Outdoor Holdings, Inc.), Credit Agreement (Clear Channel Outdoor Holdings, Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the any Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders or the Required Revolving Lenders, as applicable, in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 12 contracts

Samples: Credit Agreement (Axalta Coating Systems Ltd.), Credit Agreement (Axalta Coating Systems Ltd.), Credit Agreement (Axalta Coating Systems Ltd.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersBanks, unless the Administrative Agent shall have received written notice from a Lender Bank or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The ”. In the event that the Administrative Agent will notify receives such a notice, the Lenders of its receipt of any such noticeAdministrative Agent shall give notice thereof to the Banks. The Administrative Agent shall take such action with respect to such Default or Event of Default as may shall be directed requested by the Required Lenders Majority Banks in accordance with Article VIII8; provided, however, that unless and until the Administrative Agent has shall have received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersBanks.

Appears in 11 contracts

Samples: Year Credit Agreement (General Mills Inc), Five Year Credit Agreement (General Mills Inc), Credit Agreement (General Mills Inc)

Notice of Default. The Administrative Agent shall not be deemed not to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults Default (other than an Event of Default described in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, Article 7(a)) unless the Administrative Agent shall have has received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The ”. In the event that the Administrative Agent will notify receives such a notice or any notice pursuant to Section 5.1 or Section 5.2, the Lenders of its receipt of any such noticeAdministrative Agent shall give prompt notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as may shall be reasonably directed by the Required Lenders in accordance with Article VIIILenders; provided, however, provided that unless and until the Administrative Agent has shall have received any such directiondirections, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the Lenders.

Appears in 11 contracts

Samples: Credit Agreement (Phillips 66), Credit Agreement (Phillips 66), Credit Agreement (Phillips 66)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be reasonably directed by the Required Lenders in accordance with Article VIIISection 9.2; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 10 contracts

Samples: Credit Agreement (Quest Diagnostics Inc), Credit Agreement (Quest Diagnostics Inc), Credit Agreement (Quest Diagnostics Inc)

Notice of Default. The None of the Administrative Agent or the Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the applicable Lenders, unless the Administrative Agent it shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Each of the Administrative Agent and the Collateral Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 10 contracts

Samples: First Lien Credit Agreement (GMS Inc.), First Lien Credit Agreement (GMS Inc.), First Lien Credit Agreement (GMS Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersBanks, unless the Administrative Agent shall have received written notice from a Lender Bank or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will promptly notify the Lenders Banks of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders Banks in accordance with Article VIIIIX; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersBanks.

Appears in 9 contracts

Samples: Term Loan Agreement (Kb Home), Revolving Loan Agreement (Kb Home), Revolving Loan Agreement (Kb Home)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be reasonably directed by the Required Lenders in accordance with Article VIIISection 9.2; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 8 contracts

Samples: Credit Agreement (Quest Diagnostics Inc), Day Revolving Credit Agreement (Polaris Industries Inc/Mn), Term Loan Credit Agreement (Quest Diagnostics Inc)

Notice of Default. The Administrative Neither Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of DefaultDefault (except, except in the case of the Administrative Agent, with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersBanks), unless the Administrative such Agent shall have received written notice from a Lender Bank or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” The Administrative ". Such Agent will notify the Lenders Banks of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders Majority Banks in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersBanks.

Appears in 8 contracts

Samples: Credit Agreement (Enstar Income Growth Program Five-B Lp), Credit Agreement (Enstar Income Growth Program Five-a Lp), Credit Agreement (Enstar Income Program 1984-1 Lp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, Default except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The ”. Administrative Agent will notify the Lenders each Lender of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders (or all or such other portion of the Lenders as shall be prescribed by this Agreement) in accordance with Article VIII; provided, however, that unless the terms hereof. Unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the Lenders.

Appears in 8 contracts

Samples: Credit Agreement (PHX Minerals Inc.), Credit Agreement (Ohio Power Co), Credit Agreement (Panhandle Oil & Gas Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the any Borrower referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required requisite Lenders in accordance with Article VIIIherewith; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 7 contracts

Samples: Credit Agreement (Brookdale Senior Living Inc.), Credit Agreement (Brookdale Senior Living Inc.), Credit Agreement (Omega Healthcare Investors Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Majority Lenders in accordance with Article VIIIthis Agreement; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 7 contracts

Samples: Credit Agreement (Atlas Resource Partners, L.P.), Credit Agreement (Atlas Energy, L.P.), Credit Agreement (Atlas Energy, L.P.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, Default unless the Administrative Agent shall have has received written notice in writing from a Lender Lender, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The In the event that the Administrative Agent will notify receives such a notice, the Lenders of its receipt of any such noticeAdministrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as may shall be reasonably directed by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in accordance with Article VIIIthe other Loan Documents); provided, however, provided that unless and until the Administrative Agent has shall have received any such directiondirections, the Administrative Agent may (but shall not be obligated to) take such action, action or refrain from taking such action, action with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the Lenders.

Appears in 7 contracts

Samples: Credit Agreement (Ribbon Communications Inc.), Credit Agreement (Ribbon Communications Inc.), Credit Agreement (Ribbon Communications Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 6 contracts

Samples: Credit Agreement (Midwest Generation LLC), Credit Agreement (Edison Mission Energy), Credit Agreement (Midwest Generation LLC)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersBanks, unless the Administrative Agent shall have received written notice from a Lender Bank or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders Banks of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders Banks in accordance with Article VIIIthis Agreement; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersBanks.

Appears in 6 contracts

Samples: Credit Agreement (Laredo Petroleum, Inc.), Credit Agreement (Laredo Petroleum, Inc.), Credit Agreement (Laredo Petroleum, Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIIIX; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 6 contracts

Samples: Loan Agreement (Medcath Corp), Loan Agreement (Medcath Corp), Loan Agreement (Medcath Corp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Majority Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 6 contracts

Samples: Credit Agreement (Comstock Resources Inc), Credit Agreement (Comstock Oil & Gas, LP), Credit Agreement (Comstock Resources Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Parent Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Subject to the other provisions of this Article IX, the Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, provided that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 6 contracts

Samples: Credit Agreement (Restaurant Brands International Limited Partnership), Credit Agreement (Restaurant Brands International Inc.), Credit Agreement (Restaurant Brands International Limited Partnership)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIIIIX; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 6 contracts

Samples: Credit Agreement (Baker Hughes Inc), Credit Agreement (Baker Hughes Inc), Credit Agreement (Baker Hughes Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 6 contracts

Samples: Revolving Credit Agreement (Heico Corp), Revolving Credit Agreement (Heico Corp), Revolving Credit Agreement (Heico Corp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, Default unless the Administrative Agent shall have has received written notice from a Lender Lender, Holdings (prior to a Qualified IPO) or the U.S. Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The ”. In the event that the Administrative Agent will notify receives such a notice, the Lenders of its receipt of any such noticeAdministrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as may shall be reasonably directed by the Required Lenders in accordance with Article VIII(or, if so specified by this Agreement, all or other Lenders); provided, however, provided that unless and until the Administrative Agent has shall have received any such directiondirections, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the Lenders.

Appears in 6 contracts

Samples: Incremental Assumption Agreement (Momentive Specialty Chemicals Inc.), Intercreditor Agreement (Hexion Specialty Chemicals, Inc.), Credit Agreement (Hexion Specialty Chemicals, Inc.)

Notice of Default. The Administrative Agent shall will not be deemed to have knowledge or notice of the occurrence of any Event of Default or Event of Default, Default except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have has received written notice from a Lender or the a Borrower referring to this Agreement, describing such that Event of Default or Event of Default and stating that such that notice is a “notice of default.” The Administrative Agent will shall promptly notify the Lenders of its receipt of any such notice. The Administrative Agent shall take all such action actions with respect to each such Default or Event of Default or Default as may be directed requested by the Required Lenders in accordance with Article VIII; providedSection 13, however, that but unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall will not be obligated required to) take such any action, or refrain from taking such any action, with respect to such Default or any Event of Default or Default as it shall deem Administrative Agent deems advisable or in the best interest of the Lenders.

Appears in 6 contracts

Samples: Credit Agreement (Quest Resource Holding Corp), Credit Agreement (AgileThought, Inc.), Credit Agreement (AgileThought, Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 5 contracts

Samples: Revolving Credit Agreement (L3harris Technologies, Inc. /De/), Revolving Credit Agreement (Harris Corp /De/), Revolving Credit Agreement (Harris Corp /De/)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or Unmatured Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower Company referring to this Agreement, describing such Event of Default or Unmatured Event of Default and stating that such notice is a "notice of default.” ". The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as may be directed requested by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Unmatured Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 5 contracts

Samples: Credit Agreement (Truserv Corp), Credit Agreement (Truserv Corp), Credit Agreement (Truserv Corp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersBanks, unless the Administrative Agent shall have received written notice from a Lender Bank or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". The Administrative Agent will notify the Lenders Banks of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders Majority Banks in accordance with Article VIIIIX; provided, however, that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersBanks.

Appears in 5 contracts

Samples: Assignment and Assumption Agreement (Plum Creek Timber Co Inc), Acceptance Agreement (Citgo Petroleum Corp), Credit Agreement (Weatherford Enterra Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersFinancing Parties, unless the Administrative Agent shall have received written notice from a Lender Financing Party or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." The Administrative Agent will notify the Lenders Financing Parties of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders (or such other number or percentage of Lenders as shall be necessary under the circumstances as provided in accordance with Article VIIISection 10.1; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersFinancing Parties.

Appears in 5 contracts

Samples: Loan Agreement (Macquarie Infrastructure CO LLC), Loan Agreement (Macquarie Infrastructure CO LLC), Loan Agreement (Macquarie Infrastructure CO Trust)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender Lender, the Parent or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Majority Lenders in accordance with Article VIIIthis Agreement; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 5 contracts

Samples: Credit Agreement (Atlas Energy Group, LLC), Intercreditor Agreement (Atlas Energy Group, LLC), Intercreditor Agreement (Atlas Energy Group, LLC)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults Events of Default in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower Loan Party referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to any such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 5 contracts

Samples: Financing Agreement (Fibrogen Inc), Financing Agreement (BridgeBio Pharma, Inc.), Financing Agreement (Biohaven Pharmaceutical Holding Co Ltd.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersBanks, unless the Administrative Agent shall have received written notice from a Lender Bank or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders Banks of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Majority Banks or Required Lenders Banks, as applicable, in accordance with Article VIIIthis Agreement; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersBanks.

Appears in 5 contracts

Samples: Credit Agreement (Brigham Minerals, Inc.), Credit Agreement (Sitio Royalties Corp.), Credit Agreement (Brigham Minerals, Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders or the Required Revolving Lenders, as applicable, in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 5 contracts

Samples: Credit Agreement (PurposeBuilt Brands, Inc.), Credit Agreement (Chicagoland Television News, LLC), Credit Agreement (Visteon Corp)

Notice of Default. The Administrative Agent shall not be deemed to ----------------- have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, provided that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 4 contracts

Samples: Credit Agreement (FMC Technologies Inc), Credit Agreement (FMC Technologies Inc), Credit Agreement (FMC Technologies Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Majority Lenders in accordance with this Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 4 contracts

Samples: Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Subject to the other provisions of this Article IX, the Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, provided that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, to the extent it has the right to do so with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 4 contracts

Samples: Term Loan Credit Agreement (RumbleOn, Inc.), Term Loan Credit Agreement (RumbleOn, Inc.), Term Loan Credit Agreement (RumbleOn, Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lendersdefaults, unless the Administrative Agent shall have received written notice from a Lender Lender, an Issuing Bank or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” The ". In the event that the Administrative Agent will notify receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders of its receipt of any such noticeand the Issuing Banks. The Administrative Agent shall take such action with respect to such Default or Event of Default as may shall be directed requested by the Required Majority Lenders in accordance with Article VIII; provided, provided however, that unless and until the Administrative Agent has shall have received any such directionrequest from the Majority Lenders, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the LendersLenders and the Issuing Banks.

Appears in 4 contracts

Samples: Five Year Credit Agreement (Tyson Foods Inc), Three Year Credit Agreement (Tyson Foods Inc), Credit Agreement (Tyson Foods Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees Fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent and Collateral Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIIISection 10; provided, however, that unless and until the Administrative Agent or Collateral Agent has received any such direction, the Administrative Agent and Collateral Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 4 contracts

Samples: Credit Agreement (SunOpta Inc.), Credit Agreement (SunOpta Inc.), Credit Agreement (SunOpta Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIIISection 9; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 4 contracts

Samples: Credit Agreement (PNM Resources Inc), Credit Agreement (Profit Recovery Group International Inc), Credit Agreement (PNM Resources)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” The " Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIIISection 8; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 4 contracts

Samples: Credit Agreement (Comcast Cable Communications Inc), Credit Agreement (Comcast Cable Communications Inc), Credit Agreement (Comcast Corp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersHolders, unless the Administrative Agent shall have received written notice from a Lender Holder or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders Holders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders Holders in accordance with Article VIIIIX; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersHolders.

Appears in 4 contracts

Samples: Note Agreement (NewStar Financial, Inc.), Note Agreement (NewStar Financial, Inc.), Note Agreement (NewStar Financial, Inc.)

Notice of Default. The Administrative Neither Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Default hereunder unless such Agent for the account of the Lenders, unless the Administrative Agent shall have has received written notice from a Lender or the a Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The ”. In the event that the Administrative Agent will notify receives such a notice, the Lenders of its receipt of any Administrative Agent shall give prompt notice thereof to the Lenders. In the event the Collateral Agent receives such a notice, the Collateral Agent shall give prompt notice thereof to the Administrative Agent. The Administrative Agent shall take such action with respect to such Default or Event of Default as may shall be reasonably directed by the Required Lenders in accordance with Article VIII; providedLenders, however, provided that unless and until the Administrative Agent has shall have received any such directiondirections, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the Lenders.

Appears in 4 contracts

Samples: Credit Agreement (Endurance Specialty Holdings LTD), Credit Agreement (Endurance Specialty Holdings LTD), Credit Agreement (Endurance Specialty Holdings LTD)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower Borrowers referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required requisite Lenders in accordance with Article VIIIherewith; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 4 contracts

Samples: Bank Credit Agreement (Fresenius Medical Care AG & Co. KGaA), Credit Agreement (Speedway Motorsports Inc), Credit Agreement (INFONXX, Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, Default unless the Administrative Agent shall have has received written notice from a Lender Lender, Holdings or the U.S. Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The ”. In the event that the Administrative Agent will notify receives such a notice, the Administrative Agent shall give notice thereof to the Lenders of its receipt of any such noticeand the Issuing Banks. The Administrative Agent shall take such action with respect to such Default or Event of Default as may shall be reasonably directed by the Required Lenders in accordance with Article VIII(or, if so specified by this Agreement, all or other Lenders); providedprovided that, however, that unless and until the Administrative Agent has shall have received any such directiondirections, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the Lenders.

Appears in 4 contracts

Samples: Asset Based Revolving Credit Agreement (Hexion Inc.), Amendment Agreement (Hexion Inc.), Amendment Agreement (Hexion Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” The ". Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Requisite Lenders in accordance with Article VIIISection 8; provided, however, that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 4 contracts

Samples: Credit Agreement (Apartment Investment & Management Co), Credit Agreement (Aimco Properties Lp), Interim Credit Agreement (Aimco Properties Lp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders in accordance with Article VIII12; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 4 contracts

Samples: Term Loan Credit Agreement (MRC Global Inc.), Collateral Trust Agreement (MRC Global Inc.), Security Agreement (MRC Global Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees Fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent and Collateral Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIIISection 10; provided, however, that unless and until the Administrative Agent or Collateral Agent has received any such direction, the Administrative Agent and Collateral Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 4 contracts

Samples: Credit Agreement (SunOpta Inc.), Credit Agreement (SunOpta Inc.), Second Restatement Agreement (SunOpta Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid payable to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower Company referring to this AgreementAgreement or any other Loan Document, describing such Default or Event of Default and stating that such notice is a "notice of default.” The Administrative ". In the event that the Agent will notify receives such a notice, the Lenders of its receipt of any such noticeAgent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as may shall be directed requested by the Required Lenders in accordance with Article VIII10; provided, however, that unless and until the Administrative Agent has shall have received any such directionrequest from the Required Lenders, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the Lenders.

Appears in 4 contracts

Samples: Credit Agreement (Georgia Pacific Corp), Credit Agreement (Georgia Pacific Corp), Credit Agreement (Georgia Pacific Corp)

Notice of Default. The Administrative Agent shall will not be deemed to have knowledge or notice of the occurrence of any Event of Default or Event of Default, Default except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have has received written notice from a Lender or the Borrower referring to this Agreement, describing such that Event of Default or Event of Default and stating that such that notice is a “notice of default.” The Administrative Agent will shall promptly notify the Lenders of its receipt of any such notice. The Administrative Agent shall take all such action actions with respect to each such Default or Event of Default or Default as may be directed requested by the Required Lenders in accordance with Article VIII; providedSection 13, however, that but unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall will not be obligated required to) take such any action, or refrain from taking such any action, with respect to such Default or any Event of Default or Default as it shall deem Administrative Agent deems advisable or in the best interest of the Lenders.

Appears in 4 contracts

Samples: Credit Agreement (Moneylion Inc.), Credit Agreement (Moneylion Inc.), Credit Agreement (Moneylion Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersBanks, unless the Administrative Agent shall have received written notice from a Lender Bank or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice Notice of default.” Default”. The Administrative Agent will notify the Lenders Banks of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders Majority Banks in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersBanks.

Appears in 4 contracts

Samples: Loan Agreement (Gruma Sab De Cv), Loan Agreement (Gruma Sab De Cv), Loan Agreement (Gruma Sa De Cv)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersLenders or the Fronting L/C Issuer or the Several L/C Agent, as applicable, unless the Administrative Agent shall have received written notice from a Lender or the a Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 4 contracts

Samples: Assignment and Assumption (Metlife Inc), Five Year Credit Agreement (Metlife Inc), 364 Day Credit Agreement (Metlife Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersBanks, unless the Administrative Agent shall have received written notice from a Lender Bank or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” The ". In the event that the Administrative Agent will notify receives such a notice, the Lenders of its receipt of any such noticeAdministrative Agent shall give notice thereof to the Banks. The Administrative Agent shall take such action with respect to such Default or Event of Default as may shall be directed requested by the Required Lenders Majority Banks in accordance with Article VIII8; providedPROVIDED, howeverHOWEVER, that unless and until the Administrative Agent has shall have received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersBanks.

Appears in 4 contracts

Samples: Assignment and Assumption Agreement (General Mills Inc), Credit Agreement (General Mills Inc), Credit Agreement (General Mills Inc)

Notice of Default. The Administrative No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative any Agent for the account of the Lenders, unless the Administrative such Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice Notice of defaultDefault.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent Agent, in consultation with the Initial Lenders, shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIIIVI; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent it may (but shall not be obligated to) take such action, or refrain from taking such action, in each case, in consultation with the Initial Lenders, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 4 contracts

Samples: Term Facility Credit and Guaranty Agreement (Dana Holding Corp), Revolving Credit and Guaranty Agreement (Dana Holding Corp), Possession Credit Agreement (Dana Corp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower Borrowers referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Credit Agreement (PostRock Energy Corp), Credit Agreement (PostRock Energy Corp), Credit Agreement (Municipal Mortgage & Equity LLC)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or Event of Default, Default except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower a Loan Party referring to this Agreement, describing such Event of Default or Event of Default and stating that such notice is a "notice of default.” ". The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Event of Default or Event of Default as may be directed requested by the Required Lenders in accordance with Article VIIISection 16; provided, however, provided that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Loan and Security Agreement (S&W Seed Co), Loan and Security Agreement (S&W Seed Co), Loan and Security Agreement (Broadwind Energy, Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults Defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. The Administrative Agent will notify the Lenders of its receipt of any such notice. The Subject to Section 10.4(a), the Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders in accordance with Article VIIIIX; provided, however, that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Credit Agreement (Venoco, Inc.), Credit Agreement (Venoco, Inc.), Term Loan Agreement (Venoco, Inc.)

Notice of Default. The Administrative Agent None of the Agents shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Default hereunder unless such Agent for the account of the Lenders, unless the Administrative Agent shall have has received written notice from a Lender or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a notice of default.” The Administrative . In the event that any Agent will notify receives such a notice, such Agent shall promptly give notice thereof to the Lenders of its receipt of any such noticeLenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as may shall be directed by the Required Lenders in accordance with Article VIIILenders; provided, however, provided that (i) the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to liability or that is contrary to this Agreement or applicable law and (ii) unless and until the Administrative Agent has shall have received any such directiondirections, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the Lenders.

Appears in 3 contracts

Samples: Credit Agreement (KLX Energy Services Holdings, Inc.), Credit Agreement (KLX Inc.), Credit Agreement (KLX Inc.)

Notice of Default. The Administrative No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except solely with respect to the Administrative Agent, with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative such Agent shall have received written notice from a Lender or the Parent or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative applicable Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent and the Collateral Agent shall take such action with respect to such Default or any Event of Default as may be directed in writing by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent or the Collateral Agent has received any such direction, the Administrative Agent or the Collateral Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lendersadvisable.

Appears in 3 contracts

Samples: Credit Agreement (Farfetch LTD), Credit Agreement (Coupang, Inc.), Credit Agreement (Farfetch LTD)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults Defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". The Administrative Agent will notify the Lenders of its receipt of any such notice. The Subject to Section 10.4(a), the Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders in accordance with Article VIIIIX; provided, however, that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Credit Agreement (Venoco, Inc.), Credit Agreement (BMC, Ltd.), Term Loan Agreement (Venoco, Inc.)

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Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower Borrowers referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Subject to the other provisions of this Article IX, the Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, provided that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Intercreditor Agreement (Owens & Minor Inc/Va/), Abl Credit Agreement (Cole Haan, Inc.), Abl Credit Agreement (Cole Haan, Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults Events of Default in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to any such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIIIARTICLE VII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Credit Agreement (Tropicana Entertainment Inc.), Possession Credit Agreement (JMBS Casino LLC), Credit Agreement

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders in accordance with Article VIII8; provided, however, provided that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: First Lien Credit Agreement (Station Casinos LLC), Second Lien Credit Agreement (Station Casinos LLC), Credit Agreement (Wynn Resorts LTD)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” The ". Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Requisite Lenders in accordance with Article VIIISection 8; provided, --------- -------- however, that unless and until the Administrative Agent has received any such ------- direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Credit Agreement (Quantum Corp /De/), Credit Agreement (Quantum Corp /De/), Credit Agreement (Quantum Corp /De/)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders or Required Revolving Lenders, as applicable, in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Credit Agreement, Credit Agreement (Syniverse Holdings Inc), Assignment and Assumption (Syniverse Holdings Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersLenders or the L/C Issuers, unless the Administrative Agent shall have received written notice from a Lender or the a Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders and the L/C Issuers of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders in accordance with Article VIII8; provided, however, provided that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersLenders and the L/C Issuers.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Warrior Met Coal, Inc.), Asset Based Revolving Credit Agreement (Warrior Met Coal, Inc.), Asset Based Revolving Credit Agreement (Warrior Met Coal, LLC)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders in accordance with Article VIIIVII; provided, however, that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Credit Agreement (Montpelier Re Holdings LTD), Credit Agreement (Montpelier Re Holdings LTD), Credit Agreement (Renaissancere Holdings LTD)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the from Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” The " Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Majority Lenders in accordance with Article VIIIVIII hereof; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in its sole discretion or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Credit Agreement (Northland Cable Television Inc), Credit Agreement (Northland Cable Properties Six LTD Partnership), Credit Agreement (Northland Cable Properties Six LTD Partnership)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, Default (except for the Administrative Agent with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, ) unless the Administrative Agent it shall have received written notice from a Lender or the Borrower referring to this Agreement, Agreement and describing such Default or Event of Default and stating that such notice is a “notice Notice of default.” Default”. The Administrative Agent will shall promptly notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders in accordance with Article VIIIor the Lenders; provided, however, that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Assignment and Assumption Agreement (Cemex Sab De Cv), Assignment and Assumption Agreement (Cemex Sab De Cv), Assignment and Assumption Agreement (Cemex Sab De Cv)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The In the event that the Administrative Agent will notify receives such a notice, the Lenders of its receipt of any such noticeAdministrative Agent shall give prompt notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as may shall be directed requested by the Required Majority Lenders in accordance with Article VIIIVII; provided, however, provided that unless and until the Administrative Agent has shall have received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Charter Agreement (Great Lakes Dredge & Dock CORP), Credit Agreement (Great Lakes Dredge & Dock CORP), Credit Agreement (Great Lakes Dredge & Dock Corp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the any Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIIIX; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Credit Agreement (Famous Daves of America Inc), Credit Agreement (Famous Daves of America Inc), Credit Agreement (Famous Daves of America Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersBanks, unless the Administrative Agent shall have received written notice from a Lender Bank or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". The Administrative Agent will notify the Lenders Banks of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders Requisite Banks in accordance with Article VIIISection 8; provided, however, that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersBanks.

Appears in 3 contracts

Samples: Credit Agreement (Reliance Steel & Aluminum Co), Pledge Agreement (Todd Ao Corp), Credit Agreement (Flowserve Corp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required requisite Lenders in accordance with Article VIIIherewith; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Credit Agreement (Healthcare Realty Trust Inc), Credit Agreement (Healthcare Realty Trust Inc), Credit Agreement (Amerigroup Corp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, Default except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the a Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The ”. Administrative Agent will notify the Lenders each Lender of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders (or all or such other portion of the Lenders as shall be prescribed by this Agreement) in accordance with Article VIII; provided, however, that unless the terms hereof. Unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the Lenders.

Appears in 3 contracts

Samples: Credit and Security Agreement (BioHorizons, Inc.), Credit and Security Agreement (BioHorizons, Inc.), Credit and Security Agreement (Seracare Life Sciences Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or Unmatured Event of Default, Default except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersBanks, unless the Administrative Agent shall have received written notice from a Lender Bank or the Borrower Company referring to this Agreement, describing such Event of Default or Unmatured Event of Default and stating that such notice is a "notice of default.” ". The Administrative Agent will notify the Lenders Banks of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as may be directed requested by the Required Lenders Banks in accordance with Article VIIISection 12; provided, however, provided that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Unmatured Event of Default as it shall deem advisable or in the best interest of the LendersBanks.

Appears in 3 contracts

Samples: Credit Agreement (Synagro Technologies Inc), Credit Agreement (Synagro Technologies Inc), Credit Agreement (Synagro Technologies Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, Default unless the Administrative Agent shall have has actual knowledge of the same or has received written notice from a Lender or the Borrower referring to this Loan Agreement, describing such Default or Event of Default and stating that such notice is a notice of default.” The default (a “Notice of Default”). In the event that the Administrative Agent will notify obtains such actual knowledge or receives such a notice, the Lenders Administrative Agent shall give prompt notice thereof to each of its receipt of any such noticethe Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as may shall be reasonably directed by the Required Lenders in accordance with Article VIII; providedLenders, howeveror all of the Lenders, that unless if required hereunder. Unless and until the Administrative Agent has shall have received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to any such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Loan Agreement (Cedar Shopping Centers Inc), Loan Agreement (Cedar Shopping Centers Inc), Loan Agreement (Cedar Shopping Centers Inc)

Notice of Default. The Administrative An Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of DefaultDefault hereunder, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative such Agent for the account accounts of the Lenders, unless the Administrative such Agent shall have has received written notice from a Lender or the Borrower referring to this the Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. If an Agent receives such a notice, such Agent shall give prompt notice thereof to each other Agent and the Lenders. The Administrative Agent will notify and the Lenders of its receipt of any such notice. The Administrative Collateral Agent shall take such action with respect to such Default or Event of Default as may shall be reasonably directed by the Required Lenders in accordance with Article VIIILenders; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as or it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Credit Agreement (Hillman Companies Inc), Credit Agreement (Hillman Companies Inc), Credit Agreement (Hillman Companies Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, premiums, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a L/C Issuer, a Lender or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIIILenders; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 3 contracts

Samples: Letter of Credit and Term Loan Agreement (Chicago Bridge & Iron Co N V), Letter of Credit and Term Loan Agreement (Chicago Bridge & Iron Co N V), Letter of Credit and Term Loan Agreement (Chicago Bridge & Iron Co N V)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIIISection 10; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (EnerSys), Credit Agreement (EnerSys)

Notice of Default. The Administrative Agent shall not be deemed to ----------------- have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersBanks, unless the Administrative Agent shall have received written notice from a Lender Bank or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". The Administrative Agent will notify the Lenders Banks of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders Banks in accordance with Article VIII; provided, however, that unless and until the Administrative Agent -------- ------- has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersBanks.

Appears in 2 contracts

Samples: Multicurrency Credit Agreement (Applied Power Inc), Multicurrency Credit Agreement (Applied Power Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. The Administrative Agent will promptly notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders in accordance with Article VIIIIX; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (U.S. Renal Care Inc), Credit Agreement (U.S. Renal Care Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Credit Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". The Administrative Agent will promptly notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIIISection 9.2; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) 107 take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Jw Childs Equity Partners Ii Lp), Credit Agreement (Signal Medical Services)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Majority Lenders, the Required Revolving Lenders or the Required Term B-2 Lenders, as applicable, in accordance with Article VIII; provided, however, provided that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Delta Tucker Holdings, Inc.), Credit Agreement (Delta Tucker Holdings, Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersLenders or the L/C Issuers, unless the Administrative Agent shall have received written notice from a Lender or the a Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders and the L/C Issuers of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersLenders and the L/C Issuers.

Appears in 2 contracts

Samples: Based Revolving Credit Agreement (Alpha Metallurgical Resources, Inc.), Asset Based Revolving Credit Agreement (Contura Energy, Inc.)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, provided that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Granite Construction Inc), Assignment and Assumption Agreement (Granite Construction Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower Holdings referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Subject to the other provisions of this Article IX, the Administrative Agent shall take such action with respect to such Default or any Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 2 contracts

Samples: Second Lien Credit Agreement (ONESPAWORLD HOLDINGS LTD), First Lien Credit Agreement (ONESPAWORLD HOLDINGS LTD)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Harris Corp /De/), Revolving Credit Agreement (Harris Corp /De/)

Notice of Default. The Administrative Agent shall not be deemed to ----------------- have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersBanks, unless the Administrative Agent shall have received written notice from a Lender Bank or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". The Administrative Agent will promptly notify the Lenders Banks of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders Majority Banks in accordance with Article VIIISection 10.1; provided, however, that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersBanks.

Appears in 2 contracts

Samples: Credit Agreement (Xtra Corp /De/), Year Credit Agreement (Xtra Corp /De/)

Notice of Default. The Administrative No Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, Default hereunder unless the Administrative Agent shall have has received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.The (and, in the case of the Collateral Agent, shall have received notice thereof as described in the following sentence). In the event that the Administrative Agent will notify receives such a notice, the Lenders of its receipt of any such notice. The Administrative Agent shall promptly give notice thereof to the other Agents and Lenders. The Agents shall take such action actions with respect to such Default or Event of Default as may shall be reasonably directed by the Required Lenders in accordance with Article VIII(or, if so specified by this Agreement, all Lenders); provided, howeverthat, that unless and until the Administrative applicable Agent has shall have received any such directiondirections, the Administrative Agent such may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest interests of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Napco Security Technologies, Inc), Credit Agreement (Napco Security Technologies, Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersBanks, unless the Administrative Agent shall have received written notice from a Lender Bank or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” ". The Administrative Agent will notify the Lenders Banks of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders Majority Banks in accordance with Article VIII; provided, however, that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersBanks.

Appears in 2 contracts

Samples: Term Revolving Credit Agreement (Ferrellgas Partners Finance Corp), Credit Agreement (Ferrellgas Partners Finance Corp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIIISection 11; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (EnerSys), Credit Agreement (EnerSys)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent (or the Administrative Agent for the account of the Lenders), unless the Administrative Agent shall have received written notice from a Lender or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” ”. The Administrative Agent will notify the Lenders of its their receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders in accordance with Article VIIIIX; provided, however, provided that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Regis Corp), Credit Agreement (Regis Corp)

Notice of Default. The Administrative Agent Agents shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the LendersBanks, unless the Administrative Agent shall have received written notice from a Lender Bank or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify Fortis, as an agent, and the Lenders Banks of its receipt of any such notice. The Administrative Agent Agents shall take such action with respect to such Default or Event of Default as may be directed requested by all of the Banks or the Required Lenders Banks, as applicable, in accordance with Article VIIIIX; provided, however, that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent Agents may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the LendersBanks.

Appears in 2 contracts

Samples: Credit Agreement (Atmos Energy Corp), Credit Agreement (Atmos Energy Corp)

Notice of Default. The Administrative Neither Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except for the Administrative Agent with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative such Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." The Administrative applicable Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent Agents shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article VIIISection 10; provided, however, that unless and until the Administrative Agent has Agents have received any such direction, the Administrative Agent Agents may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 2 contracts

Samples: Possession Financing Agreement (Railworks Corp), Possession Financing Agreement (Railworks Corp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults Events of Default in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower any Credit Party referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to any such Default or Event of Default as may be directed by the Required Requisite Lenders in accordance with Article VIIISection 8; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Syntax-Brillian Corp), Credit and Guaranty Agreement (Syntax-Brillian Corp)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." The Administrative Agent will promptly notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed requested by the Required Lenders in accordance with Article VIIIX; provided, however, that unless and until the Administrative Agent has received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Ameriserve Transportation Inc), Credit Agreement (Nebco Evans Holding Co)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, Default unless the Administrative Agent shall have it has received written notice from a Lender Lender, Issuing Bank or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” The ”. In the event that the Administrative Agent will notify receives such a notice, it shall give notice thereof to the Lenders of its receipt of any such noticeand Issuing Banks. The Administrative Agent shall take such action with respect to such Default or Event of Default as may shall be reasonably directed by the Required Lenders in accordance with Article VIII(or, if so specified by this Agreement or any other Loan Document, all Lenders and Issuing Banks); provided, however, provided that unless and until the Administrative Agent has shall have received any such directiondirections, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it the Administrative Agent shall deem advisable or in the best interest interests of the LendersLenders and Issuing Banks.

Appears in 2 contracts

Samples: Credit Agreement (Micron Technology Inc), Credit Agreement (Micron Technology Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principalany Reduction Amount, interest and fees required to be paid to the Administrative Agent on behalf and for the account benefit of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default.” The Administrative ". In the event that the Agent will notify receives such a notice, the Lenders of its receipt of any such noticeAgent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as may shall be directed requested by the Required Requisite Lenders in accordance with Article VIIIthis Agreement; provided, however, that unless and until the Administrative Agent has shall have received any such directionrequest, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best commercial interest of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Seabulk Offshore LTD), Credit Agreement (Seabulk International Inc)

Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the a Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default." The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default or Event of Default as may be directed by the Required Lenders in accordance with Article ARTICLE VIII; providedPROVIDED, howeverHOWEVER, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable or in the best interest of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Enbridge Energy Limited Partnership), Assignment and Acceptance Agreement (Enbridge Energy Partners Lp)

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