Notification to Borrowers definition

Notification to Borrowers. The Administrator shall take all steps necessary pursuant to the relevant Mortgage Conditions or applicable law to bring each change in the Standard Variable Rate and any other discretionary rate or margin applicable to the Mortgage Loans and any consequent changes in Monthly Payments to the attention of the relevant Borrowers and shall, as soon as reasonably practicable after any change in such rates, provide details of such changes to each of the Mortgages Trustee, the Security Trustee and the Beneficiaries, and shall, upon receipt of a request from any of such parties, notify such requesting party of any changes in the Monthly Payments in relation to the Mortgage Loans.
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Notification to Borrowers. The Servicer shall take all steps necessary pursuant to the relevant Mortgage Conditions and/or applicable law, regulations and rules to bring each change in the Standard Variable Rate and any other discretionary rate or margin applicable to the Mortgage Loans and any consequent changes in Monthly Payments to the attention of the relevant Borrowers and shall, as soon as reasonably practicable after any change in such rates, provide details of such changes to the Mortgages Trustee, each Funding Security Trustee and each Beneficiary, and shall, upon receipt of a request from any of such parties, notify such requesting party of any changes in the Monthly Payments in relation to the Mortgage Loans.
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Examples of Notification to Borrowers in a sentence

  • In addition to putting smiles on the resident’s faces, the club was awarded the distinction of Best School Club Participation in their school’s Christmas Ornament Contest.

  • Unless something to the contrary is agreed by the Borrowers and the Notifying Lender during the 60 day consultation period referred to in 24.3 (Notification to Borrowers of claim for increased costs), the Borrowers shall pay to the Agent, on the Agent’s demand, for the account of the Notifying Lender the amounts which the Agent from time to time notifies the Borrowers that the Notifying Lender has specified to be necessary to compensate the Notifying Lender for the increased cost.

Related to Notification to Borrowers

  • Borrower Notice means a written notice, in the form of Exhibit A, to be used for each borrowing, repayment of each Advance or termination or reduction of the Facility Amount or Prepayments of Advances.

  • Designated Borrower Notice has the meaning specified in Section 2.14.

  • Authorized Borrower Representative means a person at the time designated and authorized to act on behalf of the Borrower by a written certificate furnished to the Governmental Lender, the Funding Lender and the Servicer and containing the specimen signature of such person and signed on behalf of the Borrower by its Borrower Controlling Entity which certificate may designate one or more alternates.

  • Required Term Lenders means, as of any date of determination, Term Lenders holding more than 50% of the Term Facility on such date; provided that the portion of the Term Facility held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Term Lenders.

  • Borrowing Notice is defined in Section 2.8.

  • Co-Borrowers has the meaning specified in the introductory paragraph to this Agreement.

  • Required Term B Lenders means, as of any date of determination, Term B Lenders holding more than 50% of the Term B Facility on such date; provided that the portion of the Term B Facility held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Term B Lenders.

  • Required Term A Lenders means, as of any date of determination, Term A Lenders holding more than 50% of the Term A Facility on such date; provided that the portion of the Term A Facility held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Term A Lenders.

  • Borrower Representative has the meaning assigned to such term in Section 11.01.

  • Swing Line Borrowing Notice is defined in Section 2.4.2.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Request for Credit Extension means (a) with respect to a Borrowing, conversion or continuation of Committed Loans, a Committed Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice.

  • Notice of Swing Line Borrowing has the meaning specified in Section 2.02(b).

  • Required Term Loan Lenders means, at any date, Non-Defaulting Lenders having or holding a majority of the sum of (i) the Adjusted Total Term Loan Commitment at such date and (ii) the aggregate outstanding principal amount of the Term Loans (excluding Term Loans held by Defaulting Lenders) at such date.

  • Notice of Borrowing has the meaning specified in Section 2.02(a).

  • Borrowers each has the meaning specified in the introductory paragraph hereto.

  • Notice of Swingline Borrowing means a notice substantially in the form of Exhibit G (or such other form reasonably acceptable to the Administrative Agent and containing the information required in such Exhibit) to be delivered to the Swingline Lender pursuant to Section 2.4.(b) evidencing the Borrower’s request for a Swingline Loan.

  • Revolving Administrative Agent means the administrative agent under the Revolving Credit Agreement.

  • Revolver Extension Request has the meaning set forth in Section 2.16(b).

  • Term Loan Extension Request has the meaning set forth in Section 2.16(a).

  • Revolving Credit Extension Request shall have the meaning provided in Section 2.14(f)(ii).

  • Applicable Lending Office means, with respect to each Lender, such Lender’s Domestic Lending Office in the case of a Base Rate Advance and such Lender’s Eurodollar Lending Office in the case of a Eurodollar Rate Advance.

  • Proposed Borrowing Base Notice has the meaning assigned to such term in Section 2.07(c)(ii).

  • Term Loan Administrative Agent means Bank of America, in its capacity as administrative agent under the Term Loan Credit Agreement, and its successors and assigns in such capacity.