Common use of NOTICE TO MAJORITY BANKS Clause in Contracts

NOTICE TO MAJORITY BANKS. If, within 10 Banking Days of the Facility Agent despatching to each Bank a notice requesting instructions (or confirmation of instructions) from the Banks or the agreement of the Banks to any amendment, modification, waiver, variation or excuse of performance for the purposes of, or in relation to, any of the Finance Documents, the Facility Agent has not received a reply specifically giving or confirming or refusing to give or confirm the relevant instructions or, as the case may be, approving or refusing to approve the proposed amendment, modification, waiver, variation or excuse of performance, then (subject to clause 23.4 (Late responses)) the Facility Agent shall treat any Bank which has not so responded as having indicated a desire to be bound by the wishes of 66 2/3 per cent. of those Banks (measured in terms of the relevant Contributions or, if none, the relevant Commitments of those Banks) which have so responded. Any Bank which notifies the Facility Agent of a wish or intention to abstain on any particular issue shall be treated as if it had not responded.

NOTICE TO MAJORITY BANKS. If, within 10 Banking Days (or in the case of any approval sought under clause 10.4, 2 Banking Days) of the Facility Agent despatching to each Bank a notice requesting instructions (or confirmation of instructions) from the Banks or the agreement of the Banks to any amendment, modification, waiver, variation or excuse of performance for the purposes of, or in relation to, any of the Finance Documents, the Facility Agent has not received a reply specifically giving or confirming or refusing to give or confirm the relevant instructions or, as the case may be, approving or refusing to approve the proposed amendment, modification, waiver, variation or excuse of performance, then (subject to clause 23.4 (Late responses)23.4) the Facility Agent shall treat any Bank which has not so responded as having indicated a desire to be bound by the wishes of 66 2/3 per cent. of those Banks (measured in terms of the relevant Contributions or, if none, the relevant Commitments of those Banks) which have so responded. Any Bank which notifies the Facility Agent of a wish or intention to abstain on any particular issue shall be treated as if it had not responded.

NOTICE TO MAJORITY BANKS. If, within 10 Banking Days of the Facility Agent despatching to each Bank a notice requesting instructions (or confirmation of instructions) from the Banks or the agreement of the Banks to any amendment, modification, waiver, variation or excuse of performance for the purposes of, or in relation to, any of the Finance Documents, the Facility Agent has not received a reply specifically giving or confirming or refusing to give or confirm the relevant instructions or, as the case may be, approving or refusing to approve the proposed amendment, modification, waiver, variation or excuse of performance, then (subject to clause 23.4 (Late responses)23.4) the Facility Agent shall treat any Bank which has not so responded as having indicated a desire to be bound by the wishes of 66 2/3 662/3 per cent. of those Banks (measured in terms of the relevant Contributions or, if none, the relevant Commitments of those Banks) which have so responded. Any Bank which notifies the Facility Agent of a wish or intention to abstain on any particular issue shall be treated as if it had not responded.

NOTICE TO MAJORITY BANKS. If, within 10 Banking Business Days of the Facility Agent despatching to each Bank a notice requesting instructions (or confirmation of instructions) from the Banks or the agreement of the Banks to any amendment, modification, waiver, variation or excuse of performance for the purposes of, or in relation to, any of the Finance Documents, the Facility Agent has not received a reply specifically giving or confirming or refusing to give or confirm the relevant instructions or, as the case may be, approving or refusing to approve the proposed amendment, modification, waiver, variation or excuse of performance, then (subject to clause 23.4 Clause 26.6 (Late responses)) the Facility Agent shall treat any Bank which has not so responded as having indicated a desire to be bound by the wishes of 66 2/3 per cent. of those Banks (measured in terms of the relevant Contributions participations in outstanding Advances or, if none, the relevant Commitments of those Banks) which have so responded. Any Bank which notifies the Facility Agent of a wish or intention to abstain on any particular issue shall be treated as if it had not responded.

NOTICE TO MAJORITY BANKS. If, within 10 Banking Days (or in the case of any approval sought under clause 10.4, 2 Banking Days) of the Facility Agent despatching to each Bank a notice requesting instructions (or confirmation of instructions) from the Banks or the agreement of the Banks to any amendment, modification, waiver, variation or excuse of performance for the purposes of, or in relation to, any of the Finance Documents, the Facility Agent has not received a reply specifically giving or confirming or refusing to give or confirm the relevant instructions or, as the case may be, approving or refusing to approve the proposed amendment, modification, waiver, variation or excuse of performance, then (subject to clause 23.4 (Late responses)23.4) the Facility Agent shall treat any Bank which has not so responded as having indicated a desire to be bound by the wishes of 66 2/3 662/3 per cent. of those Banks (measured in terms of the relevant Contributions or, if none, the relevant Commitments of those Banks) which have so responded. Any Bank which notifies the Facility Agent of a wish or intention to abstain on any particular issue shall be treated as if it had not responded.