Borrower Must Notify. Neither Administrative Agent nor any Lender shall be in default under this Agreement, or under any other Loan Document, unless a written notice specifically setting forth the claim of Borrower shall have been given to Administrative Agent within thirty (30) days (other than in the case of an alleged breach by a Lender of its obligation to fund a requested Warehousing Advance required to be made hereunder) after Borrower first had actual knowledge or actual notice of the occurrence of the event which Borrower alleges gave rise to such claim and, as applicable, Administrative Agent or such Lender does not remedy or cure the default, if any there be, with reasonable promptness thereafter. Such actual knowledge or actual notice shall refer to what was actually known by, or expressed in a written notification furnished to, any Authorized Representative.
Appears in 2 contracts
Sources: Bridge Loan Warehousing Credit and Security Agreement (Ares Commercial Real Estate Corp), Bridge Loan Warehousing Credit and Security Agreement (Ares Commercial Real Estate Corp)