Notice of Bids; Advice of Rate Sample Clauses
The "Notice of Bids; Advice of Rate" clause establishes the process by which parties are informed about the submission of bids and the applicable interest or pricing rates. Typically, this clause requires the party managing the bidding process to notify relevant stakeholders of incoming bids and to communicate the rates associated with those bids, often within a specified timeframe. By formalizing the notification and rate advice procedures, the clause ensures transparency and timely dissemination of critical information, thereby facilitating informed decision-making and reducing the risk of misunderstandings or disputes regarding bid terms.
Notice of Bids; Advice of Rate. The Agent shall give telephonic notice to the Borrower no later than 10:00 a.m. (Chicago time) on the proposed Borrowing Date of the number of Bids made, the interest rate(s) and Interest Period(s) applicable to each Bid, the maximum principal amount bid at each interest rate for each Interest Period, and the identity of the Bank making such Bid. The Agent shall send a written summary of all Bids received by it to the relevant Borrower on the same day.
Notice of Bids; Advice of Rate. The Administrative Agent shall give telephonic notice to the Company of the number of Bids made, the terms of the Offers contained in such Bids (including the interest rate(s) and Interest Period(s) applicable to each Bid, the maximum principal amount bid at each interest rate for each Interest Period, and the identity of the Bank making such Bid), such notice to be given by 9:15 a.m. (Chicago time) on the Auction Date. The Administrative Agent shall send a written summary of all Bids received by it to the Company by 2:00 p.m. (Chicago time) on the same day. The interest rates quoted for Eurodollar Bid Loans shall be expressed in terms of the Bid Margin to be added to or subtracted from the Adjusted Eurodollar Rate to be applicable to such Bid Loan.
Notice of Bids; Advice of Rate. The Agent shall give telecopy notice to the Borrower of the number of Bids made, the interest rate(s) and Interest Period(s) applicable to each Bid, the maximum principal amount bid at each interest rate for each Interest Period, and the identity of the Bank making such Bid such notice to be given by (i) 9:30 A.M. (Chicago time) on the Borrowing Date in the case of Bid Loan Requests solely for Stated Rate Bid Loan or (ii) 3:00 P.M. four Business Days before the proposed Borrowing Date in the case of Bid Loan Requests for Eurocurrency Bid Loans or for both Stated Rate Bid Loans and Eurocurrency Bid Loans.
Notice of Bids; Advice of Rate. The Administrative Agent shall give telecopy notice to the Company of the number of Bids made, the interest rate(s) and Interest Period(s) applicable to each Bid, the maximum principal amount bid at each interest rate for each Interest Period, and the identity of the Bank making such Bid, such notice to be given by (i) 10:30 A.M. (New York time) on the Borrowing Date in the case of Bid Loan Requests solely for Stated Rate Bid Loan or (ii) 4:00 P.M. four Business Days prior to the proposed Borrowing Date in the case of Bid Loan Requests for Eurodollar Bid Loans or for both Stated Rate Bid Loans and Eurodollar Bid Loans. The Company then shall pay the Administrative Agent its fee for managing the bid auction in question in the amount separately agreed between the Company and the Administrative Agent. The interest rates quoted for Eurodollar Bid Loans shall be expressed in terms of a stated percentage to be added to the LIBOR to be applicable to such Bid Loan.
Notice of Bids; Advice of Rate. The Administrative Agent shall give telecopy notice to the Company of the number of Bids made, the interest rate(s) and Interest Period(s) applicable to each Bid, the maximum principal amount bid at each interest rate for each Interest Period, and the identity of the Bank making such Bid such notice to be given by (i) 10:00 a.m. (Chicago time) on the Borrowing Date in the case of Bid Loan Requests solely for Stated Rate Bid Loans or (ii) 3:00 p.m. (Chicago time) four Business Days before the proposed Borrowing Date in the case of Bid Loan Requests for Eurocurrency Bid Loans or for both Stated Rate Bid Loans and Eurocurrency Bid Loans.
Notice of Bids; Advice of Rate. The Administrative Agent shall give telephonic notice to the Borrower of the number of Bids made, the interest rate(s) and Interest Period(s) applicable to each Bid, the maximum principal amount bid at each interest rate for each Interest Period, and the identity of the Bank making such Bid, such notice to be given by (i) 10:00 a.m. (Chicago time) on the Borrowing Date in the case of Bid Loan Requests for Stated Rate Bid Loans or (ii) 1:00 p.m. (Chicago time) four (4) Business Days before the proposed Borrowing Date in the case of Bid Loan Requests for Eurodollar Bid Loans.