Bid Borrowings. (a) The Borrower may from time to time deliver to the Agent a request (a “Bid Borrowing Request”) that the Agent solicit offers to make Bid Loans denominated in Dollars from the Banks. Each such request shall be made no later than 10:00 a.m. on the fourth Business Day before the day of the proposed Bid Borrowing. Each such request shall state (i) the day of the proposed Bid Borrowing (which day shall be a Business Day), (ii) the aggregate amount of the proposed Bid Borrowing, and (iii) the Interest Period or Interest Periods with respect to such Bid Borrowing (and, if more than one Interest Period is to be applicable, the duration of each such Interest Period and the portion of the Bid Borrowing that will be subject to each such Interest Period). Each Bid Borrowing request shall be in an amount equal to an integral multiple of $10,000,000. The Borrower may not request any Bid Borrowing hereunder if (i) the Borrower has made such a request within the preceding 5 Business Days, (ii) the making of the proposed Bid Borrowing would cause more than 3 Bid Borrowings to be outstanding at any one time, (iii) the making of the proposed Bid Borrowing would cause the aggregate principal amount of Bid Borrowings to exceed $100,000,000, or (iv) the making of the proposed Bid Borrowing would cause the Aggregate Outstandings to exceed the Aggregate Commitment Amount.
(b) Promptly following receipt of any Bid Borrowing Request, the Agent shall notify each Bank of the details thereof by telecopy.
(c) Each Bank may (but shall have no obligation to) deliver to the Agent a Bid Loan Quote with respect to any Bid Borrowing Request. The Agent may reject any Bid Loan Quote received after 9:00 a.m. on the third Business Day preceding the proposed Bid Borrowing; provided, however, that no Bid Loan Quote by JPMCB, in its capacity as a Bank, shall be effective if delivered to the Agent after 8:45 a.m. on the third Business Day preceding the proposed Bid Borrowing. Each Bid Loan Quote shall specify the name of the offering Bank, the date of the proposed Bid Loan, the principal amount of the Bid Loan that the offering Bank proposes to make, and the rate of interest per annum (adjusted to the nearest 1/100th of 1%) to be applicable to the proposed Bid Loan. The Agent shall ignore any Bid Loan Quote that (i) fails to include all of the information required under this paragraph, (ii) contains qualifying, conditional or similar language; (iii) proposes terms other than or in addition to tho...
Bid Borrowings. In addition to Committed Borrowings pursuant to Section 2.01, each Lender severally agrees that the Borrower may, as set forth in Section 2.04, from time to time on any Business Day during the period from the Effective Date to the Maturity Date, request the Lenders to submit offers to make Bid Loans to the Borrower; provided, however, that the Lenders may, but shall have no obligation to, submit such offers and the Borrower may, but shall have no obligation to, accept any such offers; and provided, further, that at no time shall the sum of (a) the aggregate principal amount of all outstanding Bid Loans made by all Lenders plus (b) the Aggregate Committed Credit Exposure exceed the Aggregate Commitments.
Bid Borrowings. In addition to Committed Borrowings pursuant to Section 2.03, each Bid Loan Bank severally agrees that the Company may, as set forth in Section 2.06, from time to time request the Bid Loan Banks prior to the Revolving Termination Date to submit offers to make Bid Loans to the Company; provided, however, that the Bid Loan Banks may, but shall have no obligation to, submit such offers and the Company may, but shall have no obligation to, accept any such offers, and any Bid Loan Bank may designate Designated Bidders to make such offers from time to time and, if such offers are accepted by the Company, to make such Bid Loans; and provided, further, that at no time shall (a) the outstanding aggregate principal amount of all Bid Loans made by all Bid Loan Banks and Designated Bidders, plus the outstanding aggregate principal amount of all Committed Loans made by all Banks, exceed the Aggregate Commitment; or (b) unless the Agent shall otherwise consent, the number of Interest Periods for Bid Loans then outstanding, plus the number of Interest Periods for Committed Loans then outstanding, exceed fifteen.
Bid Borrowings. In addition to Committed Borrowings, each Bank severally agrees that the Company may, as set forth in Section 2.06, from time to time request the Banks prior to the Revolving Termination Date to submit offers to make Bid Loans to the Company; provided, however, that the Banks may, but shall have no obligation to, submit such offers and the Company may, but shall have no obligation to, accept any such offers; and provided, further, that at no time shall (a) the outstanding aggregate principal amount of all Bid Loans made by all Banks, plus the outstanding aggregate principal amount of all Committed Loans made by all Banks exceed the combined Commitments; or (b) the number of Interest Periods for Bid Loans then outstanding plus the number of Interest Periods for Committed Loans then outstanding exceed eight (8) unless agreed by the Agent.
Bid Borrowings. In addition to Committed Borrowings pursuant to Section 2.3, each Bank severally agrees that the Company may, as set forth in Section 2.6, from time to time request the Banks prior to the Revolving Termination Date to submit offers to make Bid Loans to the Company; PROVIDED, HOWEVER, that the Banks may, but shall have no obligation to, submit such offers and the Company may, but shall have no obligation to, accept any such offers; and PROVIDED, FURTHER, that at no time shall (a) the outstanding aggregate principal amount of all Bid Loans made by all Banks, plus the outstanding aggregate principal amount of all Committed Loans made by all Banks and Swing Loans made by the Administrative Agent exceed the combined Commitments or the Borrowing Base; (b) the outstanding aggregate principal amount of Bid Loans from any one Bank exceed $100,000,000; (c) the outstanding aggregate principal amount of Bid Loans made by all Banks exceed 60% of the combined Commitments; or (d) the number of Interest Periods for Bid Loans then outstanding plus the number of Interest Periods for Offshore Rate Committed Loans then outstanding exceed ten.
Bid Borrowings. In addition to Committed Borrowings pursuant to SECTION 2.1, each Lender severally agrees that the Revolving Borrower may, as set forth in SECTION 2.6, from time to time prior to the Commitment Termination Date, request the Lenders to submit offers to make Bid Loans to the Revolving Borrower; PROVIDED, HOWEVER, that the Lenders may, but shall have no obligation to, submit such offers and the Revolving Borrower may, but shall have no obligation to, accept any such offers; and PROVIDED, FURTHER, that at no time shall the sum of (i) the outstanding aggregate principal amount of all Bid Loans, Committed Loans and Swingline Loans made by the Lenders, PLUS (ii) the Letter of Credit Outstandings exceed the Revolving Commitment Amount.
Bid Borrowings. In addition to Committed Borrowings pursuant to Section 2.03, each Bank severally agrees that each Borrower may, as set forth in Section 2.06, from time to time, request the Banks from and after the Effective Date and prior to the Termination Date to submit offers to make Bid Loans to such Borrower; provided, however, that the Banks may, but shall have no obligation to, submit such offers and such Borrower may, but shall have no obligation to, accept any such offers; and provided further, that, (a) after giving effect to any Bid Borrowing, the aggregate principal amount of all outstanding Bid Loans together with (x) the outstanding aggregate principal amount of all Committed Loans made by all Banks, plus (y) the outstanding aggregate principal amount of all Swingline Loans made by the Swingline Bank, plus (z) all outstanding Letter of Credit Obligations, shall not exceed the Aggregate Commitment.
Bid Borrowings. In addition to Committed Borrowings pursuant to Section 2.3, each Lender severally agrees that the Company may, as set forth in Section 2.6, from time to time request the Lenders prior to the Termination Date to submit offers to make Bid Loans to the Company; provided that the Lenders may, but shall have no obligation to, submit such offers and the Company may, but shall have no obligation to, accept any such offers; and provided, further, that the aggregate principal amount of all outstanding Loans (whether Bid Loans or Committed Loans) shall not at any time exceed the Aggregate Commitment Amount.
Bid Borrowings. In addition to Committed Borrowings pursuant to Section 2.3, each Bank severally agrees that the Company may, as set forth in Section 2.7, from time to time request the Banks prior to the Termination Date to submit offers to make Bid Loans in Dollars to the Company; provided, however, that the Banks may, but shall have no obligation to, submit such offers and the Company may, but shall have no obligation to, accept any such offers and, if such offers are accepted by the Company, to make such Bid Loans; and provided, further, that at no time shall (a) the outstanding aggregate principal amount of all Bid Loans made by all Banks, plus the outstanding aggregate principal amount of all Committed Loans made by all Banks exceed the combined Commitments; or (b) the number of Interest Periods for Bid Loans then outstanding plus the number of Interest Periods for Committed Loans then outstanding exceed eight. APSA shall not be entitled to request Bid Loans and the Company shall only be entitled to request Bid Loans in Dollars.
Bid Borrowings. In addition to Committed -------------- Borrowings pursuant to Section 2.3, each Lender severally ----------- agrees that the Company may, as set forth in Section 2.6, ----------- from time to time request the Lenders prior to the Termination Date to submit offers to make Bid Loans to the Company; provided that the Lenders may, but shall have no obligation -------- to, submit such offers and the Company may, but shall have no obligation to, accept any such offers; and provided, -------- further, that (a) after giving effect to any Bid Borrowing, ------- the aggregate principal amount of all Loans (whether Bid Loans or Committed Loans) plus the Effective Amount of all L/C ---- Obligations shall not at any time exceed the combined Commitments and (b) after giving effect to any Bid Borrowing, there may not be more than 12 different Interest Periods in effect for all Borrowings.
