Common use of Notice to the Borrower Clause in Contracts

Notice to the Borrower. The Administrative Agent shall promptly notify the Borrower of the terms (i) of any Competitive Bid Quote submitted by a Bank that is in accordance with Section 3.04 and (ii) of any Competitive Bid Quote submitted by a Bank which amends, modifies or is otherwise inconsistent with a previous Competitive Bid Quote submitted by such Bank with respect to the same Competitive Bid Quote Request. Any such subsequent Competitive Bid Quote shall be disregarded by the Administrative Agent unless such subsequent Competitive Bid Quote specifically states that it is submitted solely to correct a manifest error in such former Competitive Bid Quote. The Administrative Agent’s notice to the Borrower shall specify the aggregate principal amount of Competitive Bid Advances for which offers have been received for each Interest Period specified in the related Competitive Bid Quote Request and the respective principal amounts and Competitive Bid Margins or Absolute Rates, as the case may be, so offered.

Appears in 4 contracts

Samples: Credit Agreement (Baxter International Inc), Credit Agreement (Baxter International Inc), Credit Agreement (Baxter International Inc)

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Notice to the Borrower. The Administrative Agent shall promptly notify the Borrower of the terms (i) of any Competitive Bid Quote submitted by a Bank Lender that is in accordance with Section 3.04 2.3.4 and (ii) of any Competitive Bid Quote submitted by a Bank which that is in accordance with Section 2.3.4 and amends, modifies or is otherwise inconsistent with a previous Competitive Bid Quote submitted by such Bank Lender with respect to the same Competitive Bid Quote Request. Any such subsequent Competitive Bid Quote shall be disregarded by the Administrative Agent unless such subsequent Competitive Bid Quote specifically states that it is submitted solely to correct a manifest error in such former Competitive Bid Quote. The Administrative Agent’s 's notice to the Borrower shall specify the aggregate principal amount of Competitive Bid Advances Loans for which offers have been received for each Interest Period specified in the related Competitive Bid Quote Request and the respective principal amounts and Competitive Bid Margins or Absolute Rates, as the case may be, so offered.

Appears in 3 contracts

Samples: Credit Agreement (Dynegy Inc), Credit Agreement (Northern Border Partners Lp), Assignment Agreement (Dynegy Inc)

Notice to the Borrower. The Administrative Agent shall promptly notify the Borrower Company of the terms (i) of any Competitive Bid Quote submitted by a Bank Lender that is in accordance with Section 3.04 2.7.4 and (ii) of any Competitive Bid Quote submitted by a Bank which that is in accordance with Section 2.7.4 and amends, modifies or is otherwise inconsistent with a previous Competitive Bid Quote submitted by such Bank Lender with respect to the same Competitive Bid Quote Request. Any such subsequent Competitive Bid Quote shall be disregarded by the Administrative Agent unless such subsequent Competitive Bid Quote specifically states that it is submitted solely to correct a manifest error in such former Competitive Bid Quote. The Administrative Agent’s 's notice to the Borrower Company shall specify the aggregate principal amount of Competitive Bid Advances Loans for which offers have been received for each Interest Period specified in the related Competitive Bid Quote Request and the respective principal amounts and Competitive Bid Margins or Absolute Rates, as the case may be, so offered.

Appears in 2 contracts

Samples: Credit Agreement (Meritor Automotive Inc), Credit Agreement (Meritor Automotive Inc)

Notice to the Borrower. The Administrative Agent shall promptly notify the requesting Borrower of the terms (i) of any Competitive Bid Quote submitted by a Bank Lender that is in accordance with Section 3.04 2.5.4 and (ii) of any Competitive Bid Quote submitted by a Bank which that is in accordance with Section 2.5.4 and amends, modifies or is otherwise inconsistent with a previous Competitive Bid Quote submitted by such Bank Lender with respect to the same Competitive Bid Quote Request. Any such subsequent Competitive Bid Quote shall be disregarded by the Administrative Agent unless such subsequent Competitive Bid Quote specifically states that it is submitted solely to correct a manifest error in such former Competitive Bid Quote. The Administrative Agent’s 's notice to the Borrower shall specify the aggregate principal amount of Competitive Bid Advances Loans for which offers have been received for each Interest Period specified in the related Competitive Bid Quote Request and the respective principal amounts and Competitive Bid Margins or Absolute Rates, as the case may be, so offered.

Appears in 1 contract

Samples: Credit Agreement (Kaydon Corp)

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Notice to the Borrower. The Administrative Agent shall promptly notify the Borrower of the terms (i) of any Competitive Bid Quote submitted by a Bank Tranche A Lender that is in accordance with Section 3.04 2.3.4 and (ii) of any Competitive Bid Quote submitted by a Bank which that is in accordance with Section 2.3.4 and amends, modifies or is otherwise inconsistent with a previous Competitive Bid Quote submitted by such Bank Tranche A Lender with respect to the same Competitive Bid Quote Request. Any such subsequent Competitive Bid Quote shall be disregarded by the Administrative Agent unless such subsequent Competitive Bid Quote specifically states that it is submitted solely to correct a manifest error in such former Competitive Bid Quote. The Administrative Agent’s 's notice to the Borrower shall specify the aggregate principal amount of Competitive Bid Advances Loans for which offers have been received for each Interest Period specified in the related Competitive Bid Quote Request and the respective principal amounts and Competitive Bid Margins or Absolute Rates, as the case may be, so offered.

Appears in 1 contract

Samples: Credit Agreement (NGC Corp)

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