Common use of Notice to the Borrower Clause in Contracts

Notice to the Borrower. The Funding Agent shall (x) in the case of a LIBOR Auction, by 12:00 Noon Pittsburgh time on the day (which shall be a Business Day) a Competitive Bid Loan Quote is submitted or (y) in the case of a Base Rate Auction, CD Rate Auction or an Absolute Rate Auction, by 10:15 a.m. Pittsburgh time on the day (which shall be a Business Day) a Competitive Bid Loan Quote is submitted, notify the Borrower by telex or telecopy of the terms (i) of any Competitive Bid Loan Quote submitted by a Lender that is in accordance with Section 2.03(d) hereof and (ii) of any Competitive Bid Loan Quote that amends, modifies or is otherwise inconsistent with a previous Competitive Bid Loan Quote submitted by such Lender with respect to the same Competitive Bid Loan Quote Request. Any such subsequent Competitive Bid Loan Quote shall be disregarded by the Funding Agent unless such subsequent Competitive Bid Loan Quote is submitted solely to correct a manifest error in such former Competitive Bid Loan Quote. The Funding Agent's notice to the Borrower shall specify (A) the aggregate principal amount of each Competitive Bid Loan for which Competitive Bid Loan Quotes have been received for each Interest Period specified in the related Competitive Bid Loan Quote Request, (B) the respective principal amounts and LIBOR-based Margins, CD Rate Margins, Base Rate Margins, or Absolute Rates, as the case may be, so offered by each Lender, identifying the Lender that made each Competitive Bid Loan Quote and (C) if the Funding Agent is notifying the Borrower of more than one Competitive Bid Loan Quote for a single Interest Period, the Funding Agent shall arrange the Competitive Bid Loan Quotes in ascending yield order.

Notice to the Borrower. The Funding Administrative Agent shall (x) in the case of a LIBOR Auction, by 12:00 Noon Pittsburgh 9:00 a.m., Los Angeles time on the day (which shall be a Business Day) a Competitive Bid Loan Quote is submitted or (y) in the case of a Base Rate Auction, CD Rate Auction or an Absolute Rate Auction, by 10:15 a.m. Pittsburgh 7:30 a.m., Los Angeles time on the day (which shall be a Business Day) a Competitive Bid Loan Quote is submitted, notify the Borrower by telex or telecopy of the terms (i) of any Competitive Bid Loan Quote submitted by a Lender that is in accordance with Section 2.03(d) hereof and (ii) of any Competitive Bid Loan Quote that amends, modifies or is otherwise inconsistent with a previous Competitive Bid Loan Quote submitted by such Lender with respect to the same Competitive Bid Loan Quote Request. Any such subsequent Competitive Bid Loan Quote shall be disregarded by the Funding Administrative Agent unless such subsequent Competitive Bid Loan Quote is submitted solely to correct a manifest error in such former Competitive Bid Loan Quote. The Funding Administrative Agent's notice to the Borrower shall specify (A) the aggregate principal amount of each Competitive Bid Loan for which Competitive Bid Loan Quotes have been received for each Interest Period specified in the related Competitive Bid Loan Quote Request, (B) the respective principal amounts and LIBOR-LIBOR - based Margins, CD Rate Margins, Base Rate Margins, Margins or Absolute Rates, as the case may be, so offered by each Lender, identifying the Lender that made each Competitive Bid Loan Quote and (C) if the Funding Administrative Agent is notifying the Borrower of more than one Competitive Bid Loan Quote for a single Interest Period, the Funding Administrative Agent shall arrange the Competitive Bid Loan Quotes in ascending yield order.

Notice to the Borrower. The Funding Administrative Agent shall (x) in the case of a LIBOR Auction, by 12:00 Noon Pittsburgh 9:00 a.m., Los Angeles time on the day (which shall be a Business Day) a Competitive Bid Loan Quote is submitted or (y) in the case of a Base Rate Auction, CD Rate Auction or an Absolute Rate Auction, by 10:15 a.m. Pittsburgh 7:30 a.m., Los Angeles time on the day (which shall be a Business Day) a Competitive Bid Loan Quote is submitted, notify the Borrower by telex or telecopy of the terms (i) of any Competitive Bid Loan Quote submitted by a Lender that is in accordance with Section 2.03(d) hereof and (ii) of any Competitive Bid Loan Quote that amends, modifies or is otherwise inconsistent with a previous Competitive Bid Loan Quote submitted by such Lender with respect to the same Competitive Bid Loan Quote Request. Any such subsequent Competitive Bid Loan Quote shall be disregarded by the Funding Administrative Agent unless such subsequent Competitive Bid Loan Quote is submitted solely to correct a manifest error in such former Competitive Bid Loan Quote. The Funding Administrative Agent's notice to the Borrower shall specify (A) the aggregate principal amount of each Competitive Bid Loan for which Competitive Bid Loan Quotes have been received for each Interest Period specified in the related Competitive Bid Loan Quote Request, (B) the respective principal amounts and 20 29 LIBOR-based Margins, CD Rate Margins, Base Rate Margins, Margins or Absolute Rates, as the case may be, so offered by each Lender, identifying the Lender that made each Competitive Bid Loan Quote and (C) if the Funding Administrative Agent is notifying the Borrower of more than one Competitive Bid Loan Quote for a single Interest Period, the Funding Administrative Agent shall arrange the Competitive Bid Loan Quotes in ascending yield order.. (f)

Notice to the Borrower. The Funding Administrative Agent shall (x) in the case of a LIBOR Auction, by 12:00 Noon Pittsburgh 9:00 a.m., Los Angeles time on the day (which shall be a Business Day) a Competitive Bid Loan Quote is submitted or (y) in the case of a Base Rate Auction, CD Rate Auction or an Absolute Rate Auction, by 10:15 a.m. Pittsburgh 7:30 a.m., Los Angeles time on the day (which shall be a Business Day) a Competitive Bid Loan Quote is submitted, notify the Borrower by telex or telecopy of the terms (i) of any Competitive Bid Loan Quote submitted by a Lender that is in accordance with Section 2.03(d) hereof and (ii) of any Competitive Bid Loan Quote that amends, modifies or is otherwise inconsistent with a previous Competitive Bid Loan Quote submitted by such Lender with respect to the same Competitive Bid Loan Quote Request. Any such subsequent Competitive Bid Loan Quote shall be disregarded by the Funding Administrative Agent unless such subsequent Competitive Bid Loan 18 24 Quote is submitted solely to correct a manifest error in such former Competitive Bid Loan Quote. The Funding Administrative Agent's notice to the Borrower shall specify (A) the aggregate principal amount of each Competitive Bid Loan for which Competitive Bid Loan Quotes have been received for each Interest Period specified in the related Competitive Bid Loan Quote Request, (B) the respective principal amounts and LIBOR-based Margins, CD Rate Margins, Base Rate Margins, Margins or Absolute Rates, as the case may be, so offered by each Lender, identifying the Lender that made each Competitive Bid Loan Quote and (C) if the Funding Administrative Agent is notifying the Borrower of more than one Competitive Bid Loan Quote for a single Interest Period, the Funding Administrative Agent shall arrange the Competitive Bid Loan Quotes in ascending yield order.. (f) Acceptance and Notice by the Borrower. Not later than (x) 9:30 a.m., Los Angeles time on the third Business Day prior to the proposed date of the borrowing, in the case of a LIBOR Auction or (y) 8:00 a.m., Los Angeles time on the proposed date of the borrowing, in the case of a Base Rate Auction, CD Rate Auction or an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Lenders, such other time and date as the Borrower and the Administrative Agent may agree), the Borrower shall notify the Administrative Agent by telecopy at its Office of its acceptance or nonacceptance of the Competitive Bid Loan Quotes so notified to it pursuant to Section 2.03(e) hereof (and the failure of the Borrower to give such notice by such time shall constitute nonacceptance) and the Administrative Agent shall promptly notify each affected Lender in accordance with Section 2.03(h) hereof. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bid Loan Quotes for each Interest Period that are accepted. The Borrower may accept one or more Competitive Bid Loan Quotes in whole or in part (provided that any Competitive Bid Loan Quote accepted in part shall be a Dollar Equivalent of at least $5,000,000 or a higher integral multiple of $1,000,000, to the extent practical in the case of Eurocurrency Loans); provided that: (i) The aggregate principal amount of each Competitive Bid Borrowing may not exceed the applicable amount set forth in the related Competitive Bid Loan Quote Request; (ii) The aggregate principal amount of each Competitive Bid Borrowing shall be a Dollar Equivalent of at least $5,000,000 (or a higher integral multiple of $1,000,000); (iii) Acceptance of offers may be made only in ascending yield order of LIBOR-based Margins, CD Rate Margins, Base Rate Margins or Absolute Rates, as the case may be; and (iv) The Borrower shall not accept any offer where the Administrative Agent has advised the Borrower that such offer fails to comply with Section 2.03(d)(ii) hereof or otherwise fails to comply with the requirements of this Agreement. (g)