Common use of Notification of Defaults and Events of Default Clause in Contracts

Notification of Defaults and Events of Default. No Agent shall be deemed to have notice of a Default or an Event of Default unless it is notified thereof by a Credit Party or a Lender with reference to this Agreement. Each Lender hereby agrees that, upon learning of the existence of a Default or Event of Default, it shall promptly notify each Administrative Agent thereof. Each Administrative Agent hereby agrees that upon receipt of any notice under this Section 13.11 it shall promptly notify the Lenders of the existence of such Default or Event of Default.

Notification of Defaults and Events of Default. No Agent shall not be deemed to have notice of a Default or an Event of Default unless it is notified thereof by a Credit Party Borrower or a Lender with reference to this Agreement. Each Lender hereby agrees that, upon learning of the existence of a Default or Event of Default, it shall promptly notify each Administrative the Agent thereof. Each Administrative The Agent hereby agrees that upon receipt of any notice under this Section 13.11 13.10 it shall promptly notify the other Lenders of the existence of such Default or Event of Default.