Common use of Notification of Banks Clause in Contracts

Notification of Banks. Upon receipt of a Request for Advance, or a notice from the Borrower with respect to any outstanding Advance prior to the Payment Date for such Advance, the Administrative Agent shall promptly but no later than the close of business on the day of such notice notify each Bank by telephone or telecopy of the contents thereof and the amount of such Bank's portion of the Advance. Each Bank shall, not later than 12:00 noon (New York time) on the date of borrowing specified in such notice, make available to the Administrative Agent at the Administrative Agent's Office, or at such account as the Administrative Agent shall designate, the amount of its portion of any Advance which represents an additional borrowing hereunder in immediately available funds.

Appears in 4 contracts

Samples: Loan Agreement (American Tower Systems Corp), Loan Agreement (American Radio Systems Corp /Ma/), Loan Agreement (American Tower Systems Corp)

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Notification of Banks. Upon receipt of a Request for Advance, Advance or a notice from the Borrower with respect to any outstanding Advance prior to the Payment Date for such Advanceby telephone or telecopy, the Administrative Agent shall promptly but no later than the close of business on the day of such notice notify each Bank by telephone or telecopy of the contents thereof requested Advance, the date on which the Advance is to be made, the amount of the Advance and the amount of such Bank's portion of the Advanceapplicable Advance based upon such Bank's Commitment Ratio in respect to such Loan. Each Bank shall, not later than 12:00 noon (New York Eastern time) on the date of borrowing specified in such notice, make available to the Administrative Agent at the Administrative Agent's Officeoffice, or at such account as the Administrative Agent shall designate, the amount of its portion of any the applicable Advance which represents an additional borrowing hereunder in immediately available funds.

Appears in 3 contracts

Samples: Master Loan and Inter (Horton D R Inc /De/), Master Loan and Inter Creditor Agreement (Horton D R Inc /De/), Master Loan and Inter (Horton D R Inc /De/)

Notification of Banks. Upon receipt of a Request for Advance, or a notice from the Borrower with respect to any outstanding Advance prior to the Payment Date for such Advance, the Administrative Agent shall promptly but no later than the close of business on the day of such notice notify each Bank by telephone or telecopy of the contents thereof and the amount of such Bank's portion of the Advance. Each Bank shall, not later than 12:00 noon 1:00 p.m. (New York time) on the date of borrowing specified in such notice, make available to the Administrative Agent at the Administrative Agent's Office, or at such account as the Administrative Agent shall designate, the amount of its portion of any Advance which represents an additional borrowing hereunder in immediately available funds.

Appears in 1 contract

Samples: Loan Agreement (Rural Cellular Corp)

Notification of Banks. Upon receipt of a Request for --------------------- Advance, or a notice from the a Borrower with respect to any outstanding Advance prior to the Payment Date for such Advance, the Administrative Agent shall promptly but no later than the close of business on the day of such notice notify each Bank by telephone or telecopy of the contents thereof and the amount of such Bank's portion of the Advance. Each Bank shall, not later than 12:00 noon (New York, New York time) on the date of borrowing specified in such notice, make available to the Administrative Agent at the Administrative Agent's Office, or at such account as the Administrative Agent shall designate, the amount of its portion of any Advance which that represents an additional borrowing hereunder in immediately available funds.

Appears in 1 contract

Samples: Loan Agreement (American Tower Corp /Ma/)

Notification of Banks. Upon receipt of a Request for Advance, --------------------- or a notice from the a Borrower with respect to any outstanding Advance prior to the Payment Date for such Advance, the Administrative Agent shall promptly but no later than the close of business on the day of such notice notify each Bank by telephone or telecopy of the contents thereof and the amount of such Bank's portion of the Advance. Each Bank shall, not later than 12:00 noon (New York, New York time) on the date of borrowing specified in such notice, make available to the Administrative Agent at the Administrative Agent's Office, or at such account as the Administrative Agent shall designate, the amount of its portion of any Advance which that represents an additional borrowing hereunder in immediately available funds.

Appears in 1 contract

Samples: Loan Agreement (American Tower Corp /Ma/)

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Notification of Banks. Upon receipt of a Request for Advance, Advance or a --------------------- notice from the Borrower with respect to any outstanding Advance prior to the Payment Date for such Advanceby telephone or telecopy, the Administrative Agent shall promptly but no later than the close of business on the day of such notice notify each Bank by telephone or telecopy of the contents thereof requested Advance, the date on which the Advance is to be made, the amount of the Advance and the amount of such Bank's portion of the Advanceapplicable Advance based upon such Bank's Commitment Ratio in respect to such Loan. Each Bank shall, not later than 12:00 noon (New York Eastern time) on the date of borrowing specified in such notice, make available to the Administrative Agent at the Administrative Agent's Officeoffice, or at such account as the Administrative Agent shall designate, the amount of its portion of any the applicable Advance which represents an additional borrowing hereunder in immediately available funds.

Appears in 1 contract

Samples: Master Loan and Inter Creditor Agreement (Horton D R Inc /De/)

Notification of Banks. Upon receipt of a Request for Advance, or a notice from the Borrower with respect to any outstanding Advance prior to the Payment Date for such Advance, or a request by T-D Bank for reimbursement under Section 2.14 hereof, the Administrative Agent shall promptly but no later than the close of business on the day of such notice notify each Bank by telephone or telecopy of the contents thereof and the amount of such Bank's portion of the Advance. Each Bank shall, not later than 12:00 noon (New York Houston time) on the date of borrowing specified in such notice, make available to the Administrative Agent at the Administrative Agent's Office, or at such account as the Administrative Agent shall designate, the amount of its portion of any Advance which represents an additional borrowing hereunder in immediately available funds.

Appears in 1 contract

Samples: Pledge Agreement (General Communication Inc)

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