Common use of Notice of Intent to Cure Clause in Contracts

Notice of Intent to Cure. Upon the Administrative Agent’s receipt of a written notice from the Borrower Representative that a HoldCo intends to exercise the Indebtedness Cure Right or the EBITDA Cure Right (a “Notice of Intent to Cure”) until the 10th Business Day following the date on which financial statements for the Fiscal Quarter to which such Notice of Intent to Cure relates are required to be delivered pursuant to Section 5.01(a) or (b), as applicable, neither the Administrative Agent (nor any sub-agent therefor) nor any Lender shall exercise any right to accelerate the Loans or terminate the Revolving Credit Commitments, and none of the Administrative Agent (nor any sub-agent therefor) nor any Lender or Secured Party shall exercise any right to foreclose on or take possession of the Collateral or any other right or remedy under the Loan Documents solely on the basis of the relevant failure to comply with Section 6.11(a) or (b), as applicable. No Revolving Lender or Issuing Bank shall be required to make any Revolving Loan or issue any Letter of Credit from and after such time as the Administrative Agent has received the Notice of Intent to Cure, unless and until the EBITDA Cure Amount or Indebtedness Cure Amount is actually applied in accordance with this Section 6.11.