Common use of Notification by Borrowers Clause in Contracts

Notification by Borrowers. The Borrowers shall notify the Administrative Agent, such notice to be irrevocable, at least three (3) Business Days prior to the Drawdown Date of any portion of the Loans if all or any portion of the Loans is to bear interest at the LIBOR Rate. After any portion of the Loans has initially been made, the provisions of Sections 2.3.1 and 2.3.2 shall apply mutatis mutandis with respect to such portion of the Loans so that the Borrowers may have the same interest rate options with respect to such portion of the Loans outstanding from time to time.

Notification by Borrowers. The Borrowers shall notify the Administrative Agent, such notice to be irrevocable, at least three (3) LIBOR Business Days prior to the Drawdown Date of any portion of the Loans Acquisition Loan if all or any portion of the Loans such Acquisition Loan is to bear interest at with reference to the LIBOR Rate. After any portion of the Loans Acquisition Loan has initially been made, the provisions of Sections 2.3.1 and 2.3.2 Section 2.7 shall apply mutatis mutandis with respect to such all or any portion of the Loans Acquisition Loan so that the Borrowers may have the same interest rate options with respect to such all or any portion of the Loans outstanding from time Acquisition Loan as it would be entitled to timewith respect to the Revolving Credit Loans.