Common use of Action by the Agent Clause in Contracts

Action by the Agent. Notwithstanding the Consent, the Agent may take any action deemed appropriate pursuant to Clause 19.17 (Acceleration and Cancellation) of the Credit Agreement and/or under any Finance Document upon (or at anytime after): 4.1 the occurrence of any Event of Default under Clause 19.6 (Cross Default) (but only whilst such Event of Default is continuing) other than where such Event of Default is in respect of any holder, holders, creditor or creditors becoming entitled (by reason of default) to declare any Specified Financial Indebtedness due and payable prior to its specified maturity by reason of a default arising solely (directly or indirectly) as a result of any of the Proposed Steps and such Specified Financial Indebtedness is not declared to be or does not otherwise become due and payable prior to its specified maturity. For the avoidance of doubt, the Agent, on behalf of the Banks, hereby acknowledges that no Event of Default will occur under Clause 19.6 (Cross Default) or Clause 19.7.1 (Insolvency and Rescheduling) in respect of Specified Financial Indebtedness arising under the NTL CC Notes not being paid when due and payable until such time as the NTL CC Noteholders (or any of them) are entitled, under the terms and conditions of the NTL CC Notes, to declare any Specified Financial Indebtedness representing principal in respect of the NTL CC Notes due and payable prior to its specified maturity date; or 4.2 any of the Parent, the Intermediate Parent, the Borrower or any Guarantor failing to duly perform or comply with any obligation expressed to be assumed by it hereunder unless such failure relates to the obligation at paragraph 5.3 below and such failure is remedied within two Business Days or such failure relates to the obligations at paragraph 5.4 or 5.5 below and such failure is remedied within 7 Business Days.

Action by the Agent. Notwithstanding the Consent, the Agent may take any action deemed appropriate pursuant to Clause 19.17 24.18 (Acceleration and Cancellation) of the Credit Agreement and/or under any Finance Document upon (or at anytime after): 4.1 the occurrence of any Event of Default under Clause 19.6 24.6 (Cross Default) (but only whilst such Event of Default is continuing) other than where such Event of Default is in respect of any holder, holders, creditor or creditors becoming entitled (by reason of default) to declare any Specified Financial Indebtedness due and payable prior to its specified maturity by reason of a default arising solely (directly or indirectly) as a result of any of the Proposed Steps and such Specified Financial Indebtedness is not declared to be or does not otherwise become due and payable prior to its specified maturity; 4.2 the occurrence of any Event of Default under Clause 24.16 (Covenant Group Cross Default) (but only whilst such Event of Default is continuing) other than where such Event of Default is in respect of any holder or creditor becoming entitled to declare Permitted Covenant Group Indebtedness due and payable prior to its specified maturity solely (directly or indirectly) as a result of any of the Proposed Steps and such Financial Indebtedness is not declared to be or does not otherwise become due and payable prior to its specified maturity. For the avoidance of doubt, the Agent, on behalf of the Banks, hereby acknowledges that no Event of Default will occur under Clause 19.6 (Cross Default) or Clause 19.7.1 24.7.1 (Insolvency and Rescheduling) or Clause 24.16 (Covenant Group Cross Default) in respect of Specified Financial Indebtedness arising under the NTL CC Notes not being paid when due and payable until such time as the NTL CC Noteholders (or any of them) are entitled, under the terms and conditions of the NTL CC Notes, to declare any Specified Financial Indebtedness representing principal in respect of the NTL CC Notes due and payable prior to its specified maturity date; or 4.2 4.3 any of the Parent, the Intermediate ParentPost-Novation Borrower, the Borrower NTL CC or any Guarantor failing to duly perform or comply with any obligation expressed to be assumed by it hereunder unless such failure relates to the obligation at paragraph 5.3 below and such failure is remedied within two Business Days or such failure relates to the obligations at paragraph 5.4 or 5.5 below and such failure is remedied within 7 Business Days.

Action by the Agent. Notwithstanding the Consent, the Agent may take any action deemed appropriate pursuant to Clause 19.17 23.19 (Acceleration and Cancellation) of the Credit Agreement and/or under any Finance Document upon (or at anytime after): 4.1 the occurrence of any Event of Default under Clause 19.6 23.6 (Cross Default) (but only whilst such Event of Default is continuing) other than where such Event of Default is in respect of any holder, holders, creditor or creditors becoming entitled (by reason on account of defaultan event of default (howsoever described)) to declare any Specified Financial Indebtedness due and payable prior to its specified maturity by reason of a default arising solely (directly or indirectly) as a result of any of the Proposed Steps and such Specified Financial Indebtedness is not declared to be or does not otherwise become due and payable prior to its specified maturity. For the avoidance of doubt, the Agent, on behalf of the Banks, hereby acknowledges that no Event of Default will occur under Clause 19.6 (Cross Default) or Clause 19.7.1 23.7.1 (Insolvency and Rescheduling) in respect of Specified Financial Indebtedness arising under NTL Notes issued by the NTL CC Notes Parent not being paid when due and payable until such time as the holders of such NTL CC Noteholders Notes (or any of them) are entitled, under the terms and conditions of the such NTL CC Notes, to declare any Specified Financial Indebtedness representing principal in respect of the such NTL CC Notes due and payable prior to its specified maturity date; or 4.2 any of the Parent, the Intermediate ParentShareholder, the any Borrower or any Guarantor failing to duly perform or comply with any obligation expressed to be assumed by it hereunder unless such failure relates to the obligation at paragraph 5.3 below and such failure is remedied within two Business Days or such failure relates to the obligations at paragraph 5.4 or 5.5 below and such failure is remedied within 7 Business Days.