Common use of VERBAL NOTICE Clause in Contracts

VERBAL NOTICE. The Securitization Agent will endeavour to provide verbal notice to the Liquidity Agent of its intention to deliver a Notice of Utilization under this agreement as early as possible on the applicable Purchase Date. Any verbal notice and any Notice of Utilization given by the Securitization Agent to the Liquidity Agent on a Purchase Date in accordance with Section 4.2 shall state: (a) the aggregate face amount and maturity date of the Notes to be purchased by the Lenders on the Purchase Date; and (b) whether the Minimum Yield is to be determined on the basis of the Overnight Rate or the BA Rate (or, if applicable, the Prime Rate) pursuant to Section 3.1 or the U.S. Note Rate pursuant to Section 3.2.