Common use of Acceptance of Competitive Bids Clause in Contracts

Acceptance of Competitive Bids. Not later than 2:00 p.m. (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, and (ii) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency Margin Bid Loans, the Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers notified to it pursuant to Section 2.03(d). The Borrower shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Borrowing may not exceed the applicable amount set forth in the related Bid Request; (ii) the principal amount of each Bid Loan must be $5,000,000 or a whole multiple of $500,000 in excess thereof; (iii) the acceptance of offers may be made only on the basis of ascending Absolute Rates or Eurocurrency Bid Margins within each Interest Period; and (iv) the Borrower may not accept any offer that is described in Section 2.03(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 11:30 a.m. (i) on the requested date of any Bid Competitive Borrowing that is to consist of Absolute Rate Loans, Loans and (ii) three Business Days prior to the requested date of any Bid Competitive Borrowing that is to consist of Eurocurrency Term SOFR Margin Bid Loans, the Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers Competitive Bids notified to it pursuant to Section 2.03(d). The Borrower shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Competitive Borrowing may not exceed the applicable amount set forth in the related Competitive Bid Request; (ii) the principal amount of each Bid Competitive Loan must be $5,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof; (iii) the acceptance of offers Competitive Bids may be made only on the basis of ascending Absolute Rates or Eurocurrency Term SOFR Bid Margins within each Interest Period; and (iv) the Borrower may not accept any offer Competitive Bid that is described in Section 2.03(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 12:30 p.m. (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, and (ii) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency Margin Bid Loans, the Borrower Xxxxxxxxx shall notify the Lenders (with a copy to the Administrative Agent Agent) of its acceptance or rejection of the offers notified to it pursuant to Section 2.03(d). The Borrower Xxxxxxxxx shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower Xxxxxxxxx may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Borrowing may not exceed the applicable amount set forth in the related Bid Request; (ii) the principal amount of each Bid Loan must be $5,000,000 2,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof; (iii) the acceptance of offers may be made only on the basis of ascending Absolute Rates or Eurocurrency Bid Margins within each Interest Period; and (iv) the Borrower Xxxxxxxxx may not accept any offer that is described in Section 2.03(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 12:30 p.m. (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Bid Loans or SOFR Margin Bid Loans which are Daily Simple SOFR Rate Loans, and (ii) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency SOFR Margin Bid Loans which are Term SOFR Rate Loans, the Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers notified to it pursuant to Section 2.03(d)2.18.4. The Borrower shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted, if applicable. The Borrower may accept any Competitive Bid in whole or in part; provided that: (ia) the aggregate principal amount of each Bid Borrowing may not exceed the applicable amount set forth in the related Bid Request; (iib) the principal amount of each Bid Loan must be $5,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof; (iiic) the acceptance of offers may be made only on the basis of ascending Absolute Rates or Eurocurrency SOFR Bid Margins within each Interest PeriodPeriod (as applicable); and (ivd) the Borrower may not accept any offer that is described in Section 2.03(c)(iii2.18.3(c) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 11:30 a.m. (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, and (ii) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency Eurodollar Margin Bid Loans, the applicable Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers notified to it pursuant to Section 2.03(d). The applicable Borrower shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The applicable Borrower may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Borrowing may not exceed the applicable amount set forth in the related Bid Request; (ii) the principal amount of each Bid Loan must be $5,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof; (iii) the acceptance of offers may be made only on the basis of ascending Absolute Rates or Eurocurrency Eurodollar Bid Margins within each Interest Period; and (iv) the applicable Borrower may not accept any offer that is described in Section 2.03(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 12:30 P.M. (Minneapolis time) (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, and (ii) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency Eurodollar Margin Bid Loans, the Borrower Company shall notify the Administrative Agent of its acceptance or rejection of the offers notified to it pursuant to Section 2.03(dsubsection 2.1A(iii)(d). The Borrower Company shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower Company may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Borrowing may not exceed the applicable amount set forth in the related Bid Request; (ii) the principal amount of each Bid Loan must be $5,000,000 or and a whole multiple of $500,000 1,000,000 in excess thereof; (iii) the acceptance of offers may be made only on the basis of ascending Absolute Rates or Eurocurrency Eurodollar Bid Margins within each Interest Period; and (iv) the Borrower Company may not accept any offer that is described in Section 2.03(c)(iiisubsection 2.1A(iii)(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 11:30 a.m. (i) on the requested date of any Bid Competitive Borrowing that is to consist of Absolute Rate Loans, Loans and (ii) three two Business Days prior to the requested date of any Bid Competitive Borrowing that is to consist of Eurocurrency Margin Bid Loans, the Parent Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers Competitive Bids notified to it pursuant to Section 2.03(d). The Parent Borrower shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Parent Borrower may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Competitive Borrowing may not exceed the applicable amount set forth in the related Competitive Bid Request; (ii) the principal amount of each Bid Competitive Loan must be $5,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof; (iii) the acceptance of offers Competitive Bids may be made only on the basis of ascending Absolute Rates or Eurocurrency Bid Margins within each Interest Period; and (iv) the Parent Borrower may not accept any offer Competitive Bid that is described in Section 2.03(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 11:30 a.m. (i) on the requested date of any Bid Competitive Borrowing that is to consist of Absolute Rate Loans, Loans and (ii) three two Business Days prior to the requested date of any Bid Competitive Borrowing that is to consist of Eurocurrency EurocurrencyTerm SOFR Margin Bid Loans, the Parent Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers Competitive Bids notified to it pursuant to Section 2.03(d). The Parent Borrower shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Parent Borrower may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Competitive Borrowing may not exceed the applicable amount set forth in the related Competitive Bid Request; (ii) the principal amount of each Bid Competitive Loan must be $5,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof; (iii) the acceptance of offers Competitive Bids may be made only on the basis of ascending Absolute Rates or Eurocurrency EurocurrencyTerm SOFR Bid Margins within each Interest Period; and (iv) the Parent Borrower may not accept any offer Competitive Bid that is described in Section 2.03(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 11:30 a.m., New York time, (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, and (ii) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency Eurodollar Margin Bid Loans, the Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers notified to it pursuant to Section 2.03(d). The Borrower shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Borrowing may not exceed the applicable amount set forth in the related Bid Request; (ii) the principal amount of each Bid Loan must be $5,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof; (iii) the acceptance of offers may be made only on the basis of ascending Absolute Rates or Eurocurrency Eurodollar Bid Margins within each Interest Period; and (iv) the Borrower may not accept any offer that is described in Section 2.03(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, and (ii) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency Benchmark Margin Bid Loans, the Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers notified to it pursuant to Section 2.03(d). The Borrower shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower may accept any Competitive Bid in whole or in part; provided that: : (i) the aggregate principal amount of each Bid Borrowing may not exceed the applicable amount set forth in the related Bid Request; ; (ii) the principal amount of each Bid Loan must be $5,000,000 or a whole multiple of $500,000 in excess thereof; ; (iii) the acceptance of offers may be made only on the basis of ascending Absolute Rates or Eurocurrency Benchmark Bid Margins within each Interest Period; and and (iv) the Borrower may not accept any offer that is described in Section 2.03(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 11:30 a.m. (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, and (ii) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency Eurodollar Margin Bid Loans, the Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers notified to it pursuant to Section 2.03(d). The Borrower shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Borrowing may not exceed the applicable amount set forth in the related Bid Request; (ii) the principal amount of each Bid Loan must be $5,000,000 10,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof; (iii) the acceptance of offers may be made only on the basis of ascending Absolute Rates or Eurocurrency Eurodollar Bid Margins within each Interest Period; and (iv) the Borrower may not accept any offer that is described in Section 2.03(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 11:30 a.m. (i) on the requested date of any Bid Competitive Borrowing that is to consist of Absolute Rate Loans, Loans and (ii) three Business Days prior to the requested date of any Bid Competitive Borrowing that is to consist of Eurocurrency Eurodollar Margin Bid Loans, the Borrower Borrowers shall notify the Administrative Agent of its acceptance or rejection of the offers Competitive Bids notified to it pursuant to Section 2.03(d2.04(d). The Borrower Borrowers shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower Borrowers may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Competitive Borrowing may not exceed the applicable amount set forth in the related Competitive Bid Request; (ii) the principal amount of each Bid Competitive Loan must be $5,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof; (iii) the acceptance of offers Competitive Bids may be made only on the basis of ascending Absolute Rates or Eurocurrency Eurodollar Bid Margins within each Interest Period; and (iv) the Borrower Borrowers may not accept any offer Competitive Bid that is described in Section 2.03(c)(iii2.04(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 11:30 a.m. Local Time (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, and (ii) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency Margin Bid Loans, the Borrower Borrowing Agent shall notify the Administrative Agent of its acceptance or rejection of the offers notified to it pursuant to Section 2.03(d2.23(d). The Borrower Borrowing Agent shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Borrowing may not exceed the applicable amount set forth in the related Bid Request; (ii) the principal amount of each Bid Loan must be $5,000,000 or a whole is at least equal to the Borrowing Minimum and an integral multiple of $500,000 in excess thereofthe Borrowing Multiple; (iii) the acceptance of offers may be made only on the basis of ascending Absolute Rates or Eurocurrency Bid Margins within each Interest Period; and (iv) the Borrower Borrowing Agent may not accept any offer that is described in Section 2.03(c)(iii2.23(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 11:30 a.m. (i) on the requested date of any Bid Competitive Borrowing that is to consist of Absolute Rate Loans, Loans and (ii) three Business Days prior to the requested date of any Bid Competitive Borrowing that is to consist of Eurocurrency Margin Bid Loans, the Borrower Company shall notify the Administrative Agent of its acceptance or rejection of the offers Competitive Bids notified to it pursuant to Section 2.03(d). The Borrower Company shall be under no obligation to accept any Competitive Bid and may choose to reject all 63861415 Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower Company may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Competitive Borrowing may not exceed the applicable amount set forth in the related Competitive Bid Request; (ii) the principal amount of each Bid Competitive Loan must be $5,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof; (iii) the acceptance of offers Competitive Bids may be made only on the basis of ascending Absolute Rates or Eurocurrency Bid Margins within each Interest Period; and (iv) the Borrower Company may not accept any offer Competitive Bid that is described in Section 2.03(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 11:30 a.m. (i) on the requested date of any Bid Competitive Borrowing that is to consist of Absolute Rate Loans, Loans and (ii) three Business Days prior to the requested date of any Bid Competitive Borrowing that is to consist of Eurocurrency Margin Bid Loans, the Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers Competitive Bids notified to it pursuant to Section 2.03(d). The Borrower shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Competitive Borrowing may not exceed the applicable amount set forth in the related Competitive Bid Request; (ii) the principal amount of each Bid Competitive Loan must be $5,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof; (iii) the acceptance of offers Competitive Bids may be made only on the basis of ascending Absolute Rates or Eurocurrency Bid Margins within each Interest Period; and (iv) the Borrower may not accept any offer Competitive Bid that is described in Section 2.03(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 11:30 a.m. (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, and (ii) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency Margin Bid Loans, the Parent Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers notified to it pursuant to Section 2.03(d2.3(d). The Borrower Borrowers shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower Borrowers may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Borrowing may not exceed the applicable amount set forth in the related Bid Request; (ii) the principal amount of each Bid Loan must be $5,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof; (iii) the acceptance of offers may be made only on the basis of ascending Absolute Rates or Eurocurrency Bid Margins within each Interest Period; and (iv) the Borrower Borrowers may not accept any offer that is described in Section 2.03(c)(iii2.3(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 11:30 a.m. (i) on the requested date of any Bid Competitive Borrowing that is to consist of Absolute Rate Loans, Loans and (ii) three Business Days prior to the requested date of any Bid Competitive Borrowing that is to consist of Eurocurrency Margin Bid Loans, the Company on behalf of the applicable Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers Competitive Bids notified to it pursuant to Section 2.03(d). The Borrower Company shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower Company may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Bid Competitive Borrowing may not exceed the applicable amount set forth in the related Competitive Bid Request; (ii) the principal amount of each Bid Competitive Loan must be $5,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof; (iii) the acceptance of offers Competitive Bids may be made only on the basis of ascending Absolute Rates or Eurocurrency Bid Margins within each Interest Period; and (iv) the Borrower Company may not accept any offer Competitive Bid that is described in Section 2.03(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 12:00 noon (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, Loans and (ii) three (3) Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency Eurodollar Margin Bid Loans, the Borrower shall notify the Administrative Competitive Bid Agent of its acceptance or rejection of the offers notified to it pursuant to Section 2.03(dthe foregoing clause (c). The Borrower shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower may accept any Competitive Bid in whole or in part; provided that: (i1) the aggregate principal amount of each Bid Borrowing may not exceed the applicable amount set forth in the related Bid Request; (ii2) the principal amount of each Bid Competitive Revolving Loan must be $5,000,000 or in a whole multiple minimum principal amount of $500,000 5 million and integral multiples of $1 million in excess thereof; (iii3) the acceptance of offers may be made only on the basis of ascending Absolute Rates or Eurocurrency Eurodollar Bid Margins within each Interest Period; and (iv4) the Borrower may not accept any offer that is described in Section 2.03(c)(iiithe foregoing subsection (b)(iii) above or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 8:30 a.m. (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, and (ii) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency Eurodollar Margin Bid Loans, the applicable Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers notified to it pursuant to Section 2.03(d2.04(d). The No Borrower shall be under no any obligation to accept any Competitive Bid and may choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower Borrowers may accept any Competitive Bid in whole or in part; provided that: : (i) the aggregate principal amount of each Bid Borrowing may not exceed the applicable amount set forth in the related Bid Request; ; (ii) the principal amount of each Bid Loan must be at least $5,000,000 10,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof; ; (iii) the acceptance of offers may be made only on the basis of ascending Absolute Rates or Eurocurrency Eurodollar Bid Margins within each Interest Period; and and (iv) the Borrower Borrowers may not accept any offer that is described in Section 2.03(c)(iii2.04(c)(iii) or that otherwise fails to comply with the requirements hereof.

Acceptance of Competitive Bids. Not later than 2:00 p.m. 11:30 a.m., New York time, (i) on the requested date of any Competitive Bid Borrowing that is to consist of Absolute Rate Loans, and (ii) three Business Days prior to the requested date of any Competitive Bid Borrowing that is to consist of Eurocurrency Eurodollar Margin Competitive Bid Loans, the Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers notified to it pursuant to Section 2.03(d). The Borrower shall be under no obligation to accept any Competitive Bid and may in its sole and absolute discretion choose to reject all Competitive Bids. In the case of acceptance, such notice shall specify the aggregate principal amount of Competitive Bids for each Interest Period that is accepted. The Borrower may accept any Competitive Bid in whole or in part; provided that: (i) the aggregate principal amount of each Competitive Bid Borrowing may not exceed the applicable amount set forth in the related Competitive Bid Request; (ii) the principal amount of each Competitive Bid Loan must be $5,000,000 or in a whole multiple of $500,000 1,000,000 in excess thereof; (iii) the acceptance of offers may be made only on the basis of ascending Absolute Rates or Eurocurrency Eurodollar Bid Margins within each Interest Period; and (iv) the Borrower may not accept any offer that is described in Section 2.03(c)(iii) or that otherwise fails to comply with the requirements hereof.