Dearden said that he would be "extremley upset" if Whitley was not signed in time to face The Cobblers on Saturday.
The loan deal, initially for a month is likely to be extended for 3 months all being well.
Dearden first off all have to convince the clubs administrators to take him on and the Football League that they can afford to take Whitley on and break the transfer embargo as Notts are in administration.
The Man City man played a vital role in helping the Magpies secure Division 2 status at the end of last season, with some excellent displays. He and Darren Caskey worked very well togther and struck up a brilliant understanding.
Co-Editors View - Whitley has International experience and proved to be a valuble asset during "The Great Escape" and hopefully he can continue where he left off. He and Darren Caskey worked brilliantly together in the centre of the midfield, maybe Whitley is the player we need to bring out the best in Caskey.