Common use of Failure of Notice by Borrower Clause in Contracts

Failure of Notice by Borrower. If Borrower otherwise fails to give notice specifying its requests with respect to any Libor Loans that are scheduled to become due, such failure shall be deemed, in the absence of any notice from Borrower to the contrary, to be notice of a requested advance in the form of a Prime Loan in a principal amount equal to the amount of said Libor Loan.

Appears in 6 contracts

Samples: Credit Agreement (Omp Inc), Credit Agreement (Tekelec), Credit Agreement (Tekelec)

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