Common use of Notice of Indenture Event of Default Clause in Contracts

Notice of Indenture Event of Default. Promptly after the Grantor Trustee has Actual Knowledge that any Indenture Event of Default attributable to the Grantor Trustee has occurred and is continuing, the Grantor Trustee shall deliver to the Lessee a notice of such Indenture Event of Default which is not also a Lease Event of Default describing the same in reasonable detail and, together with such notice or as soon thereafter as possible, a description of the action that the Grantor Trustee has taken, is taking and proposes to take with respect thereto; provided that the Grantor Trustee shall not have any liability nor shall any Person have any rights as a result of any failure to provide such notice.