Common use of Notice to Lenders of Acceptance or Rejection of Bids Clause in Contracts

Notice to Lenders of Acceptance or Rejection of Bids. The Competitive Bid Agent shall promptly notify each Revolving Lender having submitted a Competitive Bid (with a copy to the Administrative Agent) whether or not its offer has been accepted and, if its offer has been accepted, of the amount of the Competitive Revolving Loan or Competitive Revolving Loans to be made by it on the date of the applicable Bid Borrowing. Any Competitive Bid or portion thereof that is not accepted by the Borrowers by the applicable time specified in foregoing subsection (d) above shall be deemed rejected.

Notice to Lenders of Acceptance or Rejection of Bids. The Competitive Bid Agent shall promptly notify each Revolving Lender having submitted a Competitive Bid (with a copy to the Administrative Agent) whether or not its offer has been accepted and, if its offer has been accepted, of the amount of the Competitive Revolving Loan or Competitive Revolving Loans to be made by it on the date of the applicable Bid Borrowing. Any Competitive Bid or portion thereof that is not accepted by the Borrowers Borrower by the applicable time specified in foregoing subsection clause (d) above shall be deemed rejected.

Notice to Lenders of Acceptance or Rejection of Bids. The Competitive Bid Agent shall promptly notify each Revolving Lender having submitted a Competitive Bid (with a copy to the Administrative Agent) whether or not its offer has been accepted and, if its offer has been accepted, of the amount of the Competitive Revolving Loan or Competitive Revolving Loans to be made by it on the date of the applicable Bid Borrowing. Any Competitive Bid or portion thereof that is not accepted by the Borrowers by the applicable time specified in foregoing subsection (d) above shall be deemed rejected.