Common use of Bidding Clause in Contracts

Bidding. The Agent shall promptly after receipt by it of a Bid Loan Request pursuant to Section 2.08(a) notify the Banks of its receipt of such Bid Loan Request specifying (i) the identity of the applicable Borrower, (ii) the proposed Bid Loan Borrowing Date, (iii) whether the proposed Bid Loan shall be a Fixed Rate Bid Loan or a LIBOR Bid Loan, (iv) the Bid Loan Interest Period, (v) the principal amount of the proposed Bid Loan and (vi) the Approved Currency for such Bid Loan. Each Bank may submit a bid (a “Bid”) to the Agent by telephone (immediately confirmed in writing by letter, facsimile, email, or telex) not later than the following (each, as applicable, a “Bid Deadline”): 10:00 A.M. New York time two (2) Business Day before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a Fixed Rate Bid Loan or 10:00 A.M. New York time three (3) Business Days before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a LIBOR Bid Loan of one, two, three, or six months’ duration. Each Bid shall specify: (A) the principal amount of proposed Bid Loans offered by such Bank (the “Offered Amount”) which (i) may be less than, but shall not exceed, the Requested Amount, (ii) shall be at least $1,000,000 and shall be an integral multiple of $1,000,000 and (iii) may exceed such Bank’s Revolving Credit Commitment; and (B) the Fixed Rate which shall apply to such proposed Bid Loan if the applicable Borrower has requested a Fixed Rate Bid Loan or the LIBOR Bid Loan Spread which shall apply to such proposed Bid Loan if the applicable Borrower has requested a LIBOR Bid Loan and which may be a positive or negative number. If any Bid omits information required hereunder, the Agent may in its sole discretion attempt to notify the Bank submitting such Bid. If the Agent so notifies a Bank, such Bank may resubmit its Bid, provided that it does so prior to the applicable Bid Deadline. The Agent shall promptly notify the applicable Borrower of the Bids which it timely received from the Banks. If the Agent in its capacity as a Bank shall, in its sole discretion, make a Bid, it shall notify the Borrower of such Bid at least one-half hour before the applicable Bid Deadline.

Appears in 4 contracts

Samples: Credit Agreement (Assured Guaranty LTD), Credit Agreement (Assured Guaranty LTD), Credit Agreement (Assured Guaranty LTD)

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Bidding. The Agent shall promptly after receipt by it of a Bid Loan Request pursuant to Section 2.08(a) notify the Banks of its receipt of such Bid Loan Request specifying (i) the identity of the applicable Borrower, (ii) the proposed Bid Loan Borrowing Date, (iii) whether the proposed Bid Loan shall be a Fixed Rate Bid Loan or a LIBOR Bid Loan, (iv) the Bid Loan Interest Period, (v) the principal amount of the proposed Bid Loan and (vi) in the Approved case of an Alternate Currency Loan to be incurred by the UK Borrower, the Alternate Currency for such Bid Loan. Each Bank may submit a bid (a "Bid") to the Agent by telephone (immediately confirmed in writing by letter, facsimile, email, or telex) not later than the following (each, as applicable, a "Bid Deadline"): 10:00 A.M. New York time two (2) Business Day before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a Fixed Rate Bid Loan or 10:00 A.M. New York time three (3) Business Days before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a LIBOR Bid Loan of one, two, three, or six months' duration. Each Bid shall specify: (A) the principal amount of proposed Bid Loans offered by such Bank (the "Offered Amount") which (i) may be less than, but shall not exceed, the Requested Amount, (ii) shall be at least $1,000,000 2,000,000 and shall be an integral multiple of $1,000,000 and (iii) may exceed such Bank’s 's Revolving Credit Commitment; and (B) the Fixed Rate which shall apply to such proposed Bid Loan if the applicable Borrower has requested a Fixed Rate Bid Loan or the LIBOR Bid Loan Spread which shall apply to such proposed Bid Loan if the applicable Borrower has requested a LIBOR Bid Loan and which may be a positive or negative number. If any Bid omits information required hereunder, the Agent may in its sole discretion attempt to notify the Bank submitting such Bid. If the Agent so notifies a Bank, such Bank may resubmit its Bid, Bid provided that it does so prior to the applicable Bid Deadline. The Agent shall promptly notify the applicable Borrower of the Bids which it timely received from the Banks. If the Agent in its capacity as a Bank shall, in its sole discretion, make a Bid, it shall notify the Borrower of such Bid at least one-half hour before the applicable Bid Deadline.

Appears in 2 contracts

Samples: Credit Agreement (Assured Guaranty LTD), 364 Day Revolving Credit Facility (Ace LTD)

Bidding. The Administrative Agent shall promptly after receipt by it of a Bid Loan Request pursuant to Section 2.08(a) 2.12.1. notify the Banks of its ------ receipt of such Bid Loan Request specifying (i) the identity of the applicable Borrower, (ii) the proposed Bid Loan Borrowing Date, (iiiii) whether the proposed Bid Loan shall be a Fixed Rate Bid Loan or a LIBOR Euro-Rate Bid Loan, (iviii) the Bid Loan Interest Period, Period and (viv) the principal amount of the proposed Bid Loan and (vi) the Approved Currency for such Bid Loan. Each Bank may submit a bid (a "Bid") to the Administrative Agent by telephone (immediately confirmed in writing by letter, facsimile, email, or telex) not later than the following 10:00 A.M., Pittsburgh time, one (each, as applicable, a “Bid Deadline”): 10:00 A.M. New York time two (21) Business Day before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a Fixed Rate Bid Loan or 10:00 A.M. New York time three (3) Business Days before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a LIBOR Euro-Rate Bid Loan of oneby telephone (immediately confirmed in writing by letter, two, three, facsimile or six months’ durationtelex). Each Bid shall specify: (A) the principal amount of proposed Bid Loans offered by such Bank (the "Offered Amount") which (i) may be less than, but shall not exceed, the Requested Amount, (ii) shall be at least $1,000,000 5,000,000 and shall be an integral multiple of $1,000,000 1,000,000, and (iii) may exceed such Bank’s 's Revolving Credit Commitment; , and (B) the Fixed Rate which shall apply to such proposed Bid Loan if the applicable Borrower has requested a Fixed Rate Bid Loan or the LIBOR Euro-Rate Bid Loan Spread which shall apply to such proposed Bid Loan if the applicable Borrower has requested a LIBOR Euro-Rate Bid Loan and which may be a positive or negative numberLoan. If any Bid omits information required hereunder, the Administrative Agent may in its sole discretion attempt to notify the Bank submitting such Bid. If the Administrative Agent so notifies a Bank, such Bank may resubmit its Bid, Bid provided that it does so prior to time set forth in this Section 2.12.2 above by which such Bank is required to submit its Bid to the applicable Bid DeadlineAdministrative Agent. The Administrative Agent shall promptly notify the applicable Borrower of the Bids which it timely received from the Banks. If the Administrative Agent in its capacity as a Bank shall, in its sole discretion, make a Bid, it shall notify the Borrower of such Bid at least one-half hour before 9:00 A.M., Pittsburgh time, one (1) Business Day before the applicable proposed Bid DeadlineLoan Borrowing Date if Borrower is requesting a Fixed Rate Bid Loan on three (3) Business Days before the proposed Borrowing Date if Borrower is requesting a Euro-Rate Bid Loan.

Appears in 1 contract

Samples: Credit Agreement (KPMG Consulting Inc)

Bidding. The Administrative Agent shall promptly after receipt by it of a Bid Loan Request pursuant to Section 2.08(a) 2.11.1 notify the Revolving Credit Banks of its receipt of such Bid Loan Request specifying (i) the identity of the applicable Borrowerproposed Borrowing Date, (ii) the proposed Bid Loan Borrowing Date, (iii) whether the proposed Bid Loan shall be a Fixed Rate Bid Loan or a LIBOR Bid Loan, (iv) the Bid Loan Interest Period, Period and (viii) the principal amount of the proposed Bid Loan and (vi) the Approved Currency for such Bid Loan. Each Revolving Credit Bank may submit a bid (a "Bid") in the form of EXHIBIT 2.11.2 to the Administrative Agent by telephone (immediately confirmed in writing by letter, facsimile, email, or telex) not later than the following (each, as applicable, a “Bid Deadline”): 10:00 A.M. New York Columbus time two one (21) Business Day before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a Fixed Rate Bid Loan or 10:00 A.M. New York time three (3) Business Days before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a LIBOR Bid Loan of one, two, three, or six months’ durationin writing by facsimile. Each Bid shall specify: (A) the principal amount of proposed Bid Loans offered by such Revolving Credit Bank (such Bid Loans may be funded by such Revolving Credit Bank's Designated Lender as provided in Section 2.11.4, however, such Revolving Credit Bank shall not be required to specify in its Bid whether such Bid Loans will be funded by such Designated Lender) (the "Offered Amount") which (i) may be less than, but shall not exceed, the Requested Amount, (ii) shall be at least $1,000,000 5,000,000 and shall be an integral multiple of $1,000,000 and (iii) may exceed such Revolving Credit Bank’s 's Revolving Credit Commitment; , and (B) the Fixed Rate which shall apply to such proposed Bid Loan if the applicable Borrower has requested a Fixed Rate Bid Loan or the LIBOR Bid Loan Spread which shall apply to such proposed Bid Loan if the applicable Borrower has requested a LIBOR Bid Loan and which may be a positive or negative numberLoan. If any Bid omits information required hereunder, the Administrative Agent may in its sole discretion attempt to notify the Revolving Credit Bank submitting such Bid. If the Administrative Agent so notifies a Revolving Credit Bank, such Revolving Credit Bank may resubmit its Bid, Bid provided that it does so prior to the applicable time set forth above in this Section 2.11 by which such Revolving Credit Bank is required to submit its Bid Deadlineto the Administrative Agent. The Administrative Agent shall promptly notify the applicable Borrower of the Bids which it timely received from the Revolving Credit Banks. If the Administrative Agent in its capacity as a Revolving Credit Bank shall, in its sole discretion, make a Bid, it shall notify the Borrower of such Bid at least one-half hour before 9:00 A.M. Columbus time one (1) Business Day before the applicable Bid Deadlineproposed Borrowing Date.

Appears in 1 contract

Samples: Credit Agreement (Consolidated Stores Corp /De/)

Bidding. The Administrative Agent shall promptly after receipt by it of a Bid Loan Request pursuant to Section 2.08(a) 2.9.1 [Bid Loan Requests] notify the Banks of its receipt of such Bid Loan Request specifying (i) the identity of the applicable Borrower, (ii) the proposed Bid Loan Borrowing Date, (iiiii) whether the proposed Bid Loan shall be a Fixed Rate Bid Loan or a LIBOR Euro-Rate Bid Loan, (iviii) the Bid Loan Interest Period, Period and (viv) the principal amount of the proposed Bid Loan and (vi) the Approved Currency for such Bid Loan. Each Bank may submit a bid (a "Bid") to the Administrative Agent by telephone (immediately confirmed in writing by letter, facsimile, email, or telex) not later than the following (each10:00 a.m., as applicableColumbus time, a “Bid Deadline”): 10:00 A.M. New York time two (2) Business Day before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a Fixed Rate Bid Loan or 10:00 A.M. New York time three (3) Business Days before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a LIBOR Fixed Rate Bid Loan of oneor four (4) Business Days before the proposed Bid Loan Borrowing Date if Borrower is requesting a Euro-Rate Bid Loan by telephone (immediately confirmed in writing by letter, two, three, facsimile or six months’ durationtelex). Each Bid shall specify: (A) the principal amount of proposed Bid Loans offered by such Bank (the "Offered Amount") which (i) may be less than, but shall not exceed, the Requested Amount, (ii) shall be at least Ten Million and 00/100 Dollars ($1,000,000 10,000,000.00) and shall be an integral multiple of Five Million and 00/100 Dollars ($1,000,000 5,000,000.00) and (iii) may exceed such Bank’s 's Revolving Credit Commitment; , and (B) the Fixed Rate which shall apply to such proposed Bid Loan if the applicable Borrower has requested a Fixed Rate Bid Loan or the LIBOR Euro-Rate Bid Loan Spread which shall apply to such proposed Bid Loan if the applicable Borrower has requested a LIBOR Euro-Rate Bid Loan and which may be a positive or negative numberLoan. If any Bid omits information required hereunder, the Administrative Agent may in its sole discretion attempt to notify the Bank submitting such Bid. If the Administrative Agent so notifies a Bank, such Bank may resubmit its Bid, Bid provided that it does so prior to the applicable time set forth in this Section 2.9.2 [Bidding] above by which such Bank is required to submit its Bid Deadlineto the Administrative Agent. The Not later than 11:00 a.m., Columbus time, on such day, the Administrative Agent shall promptly notify the applicable Borrower of the Bids which it timely received from the Banks. If the Administrative Agent in its capacity as a Bank shall, in its sole discretion, make a Bid, it shall notify the Borrower of such Bid at least one-half hour before 9:00 a.m., Columbus time, three (3) Business Days before the applicable proposed Bid DeadlineLoan Borrowing Date if Borrower is requesting a Fixed Rate Bid Loan or four (4) Business Days before the proposed Borrowing Date if Borrower is requesting a Euro-Rate Bid Loan.

Appears in 1 contract

Samples: Credit Agreement (Big Lots Inc)

Bidding. The Administrative Agent shall promptly after receipt by it of a Bid Loan Request pursuant to Section 2.08(a) 3.01 notify the Banks Lenders of its receipt of such Bid Loan Request specifying (i) the identity of the applicable Borrower, (ii) the proposed Bid Loan Borrowing Date, (iiiii) whether the proposed Bid Loan shall be a Fixed Rate Bid Loan or a LIBOR Euro-Rate Bid Loan, (iii) the Bid Loan Period, (iv) the Borrower which is to receive the proceeds of such Bid Loan Interest PeriodLoan, and (v) the principal amount of the proposed Bid Loan and (vi) the Approved Currency for such Bid Loan. Each Bank Lender may submit a bid (a "Bid") to the Administrative Agent substantially in the form attached to Exhibit 3.01 not later than 10:00 A.M. Eastern time on the proposed Bid Loan Borrowing Date specified in any Bid Loan Request by telephone (immediately confirmed in writing by letter, facsimile, email, facsimile or telex) not later than the following (each, as applicable, a “Bid Deadline”): 10:00 A.M. New York time two (2) Business Day before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a Fixed Rate Bid Loan or 10:00 A.M. New York time three (3) Business Days before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a LIBOR Bid Loan of one, two, three, or six months’ duration). Each Bid shall specify: (A) the principal amount of proposed Bid Loans Loan offered by such Bank Lender (the "Offered Amount") which (i) may be less than, but shall not exceed, the Requested Amount, (ii) shall be at least $1,000,000 5,000,000, and shall be an integral multiple of $1,000,000 and (iii) may exceed such Bank’s Revolving Credit Lender's Commitment; , and (B) the Fixed Rate which shall apply to such proposed Bid Loan if the applicable Borrower Company has requested a Fixed Rate Bid Loan or the LIBOR Euro- Rate Bid Loan Spread which shall apply to such proposed Bid Loan if the applicable Borrower Company has requested a LIBOR Euro-Rate Bid Loan. Interest on Bid Loans shall be quoted and computed on the basis of a year of 360 days and actual days elapsed. Any Bid Loan and which may be a positive or negative numberfunded by such Lender's Designated Lender as provided in Section 3.02(c)(i), however, such Lender shall not be required to specify in its Bid whether such Bid Loans will be funded by such Designated Lender. If any Bid omits information required hereunderhereunder or contains other conditions or unrelated incentives or information, the Administrative Agent shall reject such Bid and may in its sole discretion attempt to notify the Bank Lender submitting such Bid. If the Administrative Agent so notifies a BankLender, such Bank Lender may resubmit its Bid, provided that it does so prior to 10:00 A.M. Eastern time on the applicable Bid DeadlineLoan Borrowing Date. The Administrative Agent shall promptly notify the applicable Borrower Company of the Bids which it timely received receives from the BanksLenders at or before 11:00 A.M. Eastern time, on the Bid Loan Borrowing Date. If the Administrative Agent in its capacity as a Bank Lender shall, in its sole discretion, make a Bid, it shall notify the Borrower Company of such Bid at least one-half hour before 9:30 A.M. Eastern time on the proposed Bid Loan Borrowing Date if the Company is requesting a Fixed Rate Bid Loan or three (3) Business Days before the applicable proposed Bid DeadlineLoan Borrowing Date if the Company is requesting a Euro-Rate Bid Loan.

Appears in 1 contract

Samples: Credit Agreement (Borders Group Inc)

Bidding. The Agent shall promptly after receipt by it of a Bid Loan Request pursuant to Section 2.08(a) 2.5.1 notify the Banks of its receipt of such Bid Loan Request specifying (i) the identity of the applicable Borrower, (ii) the proposed Bid Loan Borrowing Date, (iiiii) whether the proposed Bid Loan shall be a Fixed Rate Bid Loan or a LIBOR Euro-Rate Bid Loan, (iviii) the Bid Loan Interest Period, Period and (viv) the principal amount of the proposed Bid Loan and (vi) the Approved Currency for such Bid Loan. Each Bank may submit a bid (a "Bid") to the Agent by telephone (immediately confirmed in writing by letter, facsimile, email, or telex) not later than the following 11:00 A.M. Pittsburgh time one (each, as applicable, a “Bid Deadline”): 10:00 A.M. New York time two (21) Business Day before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a Fixed Rate Bid Loan or 10:00 A.M. New York time three (3) Business Days before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a LIBOR Euro-Rate Bid Loan of oneby telephone (immediately confirmed in writing by letter, two, three, facsimile or six months’ durationtelex). Each Bid shall specify: (A) the principal amount of proposed Bid Loans offered by such Bank (the "Offered Amount") which (i) may be less than, but shall not exceed, the Requested Amount, (ii) shall be at least $1,000,000 2,500,000 and shall be an integral multiple of $1,000,000 500,000 and (iii) may exceed such Bank’s 's Revolving Credit Commitment; , and (B) the Fixed Rate which shall apply to such proposed Bid Loan if the applicable Borrower has requested a Fixed Rate Bid Loan or the LIBOR Euro-Rate Bid Loan Spread which shall apply to such proposed Bid Loan if the applicable Borrower has requested a LIBOR Euro-Rate Bid Loan and which may be a positive or negative numberLoan. If any Bid omits information required hereunder, the Agent may in its sole discretion attempt to notify the Bank submitting such Bid. If the Agent so notifies a Bank, such Bank may resubmit its Bid, Bid provided that it does so prior to time set forth in this Section 2.5.2 above by which such Bank is required to submit its Bid to the applicable Bid DeadlineAgent. The Agent shall promptly notify the applicable Borrower of the Bids which it timely received from the Banks. If the Agent in its capacity as a Bank shall, in its sole discretion, make a Bid, it shall notify the Borrower of such Bid at least one-half hour before 10:00 A.M. Pittsburgh time one (1) Business Day before the applicable proposed Bid DeadlineLoan Borrowing Date if Borrower is requesting a Fixed Rate Bid Loan or three (3) Business Days before the proposed Bid Loan Borrowing Date if Borrower is requesting a Euro-Rate Bid Loan.

Appears in 1 contract

Samples: Credit Agreement (Roundys Inc)

Bidding. A. The Employer shall conduct semi annual general bids, which shall be posted January 15, and July 15, of each year and successful bidders shall be awarded their bids each respective first (1st) Monday in February and in August. Bid sheets shall be posted at each covered terminal and each bid position available at each terminal shall include the respective start times and work week. Bids will designate a general job description (by title and primary duties) and any special requirements. Prior to posting, all proposed bids must be reviewed with the Local Union 961455 Business Agent shall promptly after receipt by it and Stewards at each station. Part-time employees may bid more than one part-time shift, only if such bidding does not result in the layoff of a Bid Loan Request pursuant less senior employee. B. When the semi-annual bid is conducted, it will be accomplished by assigned bid times, individually set up for fifteen (15) minute intervals. Each employee shall bid for their desired work shift at his/her assigned time. The assigned times will be posted on the first working day after January 1st and July 1st prior to Section 2.08(athe posting of the bids on January 15 and July 15th. Proxies may be given to the xxxxxxx to be presented to Management on the bidder's behalf, if that employee knows in advance that he/she will be unavailable during his/her assigned window. Each employee is responsible for making his/her bid at the appropriate time. If an employee misses his/her bid window, the Employer may move on to the next assigned employee bid time. A "tardy bidder" who has not given a proxy to the xxxxxxx and who did not contact the employer during his/her assigned bid window, may bid into any job still available when he/she contacts the employer. Once the semi-annual bid is complete, the Company will not change bids without seventy-two (72) notify hour notification to the Banks Union as to the reason necessitating the change. C. Employees may bid on any position, for which they are currently qualified. (Example: Class A Driving bid, PM Clerical Shift, requiring Hazardous material inspection, etc.). Selection of its receipt of such Bid Loan Request specifying bids will be made on seniority basis, among qualified employees. D. In the event that a bid requiring specific qualifications is not filled or remains open after all eligible employees have bid, employees not presently qualified for the bid position, may, in seniority order, bid on the open position, subject to the following in (i) and (ii). i. Successful bidders shall be given a minimum of 30 days probationary period in which to satisfy the identity requirements of the applicable Borrowerawarded position. The Union and Company may agree to extend the probationary period for subsequent thirty (30) calendar day periods, (but no longer than 90 days in total. ii) . An employee who fails to meet the proposed Bid Loan Borrowing Daterequirements necessary to hold down the bid, (iii) whether the proposed Bid Loan shall be allowed to bump into any open position in his/her classification that his/her seniority and qualifications will allow. E. The company will have a Fixed Rate Bid Loan or a LIBOR Bid Loan, (iv) the Bid Loan Interest Period, (v) the principal amount minimum of the proposed Bid Loan and (vi) the Approved Currency for such Bid Loan. Each Bank may submit a bid (a “Bid”) to the Agent by telephone (immediately confirmed in writing by letter, facsimile, email, or telex) not later than the following (each, as applicable, a “Bid Deadline”): 10:00 A.M. New York time two (2) Business Day before Office Clerical employees, who are Haz Inspector Trained, at each covered clerical location. F. The company will provide the proposed Bid Loan Borrowing Date if required recurrent training for individuals who hold current certifications in Weight and Balance ad Hazardous Materials Inspection, subject to the applicable Borrower provisions of Article 25 of this Local Rider ("Pay for Training"). G. If any present job position is requesting a Fixed Rate Bid Loan or 10:00 A.M. New York time three (3) Business Days before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a LIBOR Bid Loan of onevacated by retirement, two, threeresignation, or six months’ duration. Each Bid shall specify: termination or an additional bid shift is created (Ameaning additional employee is needed) the principal amount of proposed Bid Loans offered by at any covered terminal, such Bank (the “Offered Amount”) which (i) may be less than, but shall not exceed, the Requested Amount, (ii) position shall be immediately posted and any employee within the job classification at least $1,000,000 all terminals shall be afforded the opportunity to bid. The successful bidder shall be informed of his award at the close of the bid, and the bid shall be effective a minimum of seven (7) days following the date the position was posted. The position vacated by that successful bidder will be filled internally at that facility. H. In the event an existing bid is modified by anyone of the following, that bid shall be considered a new position and shall be an integral multiple of $1,000,000 posted and (iii) may exceed such Bank’s Revolving Credit Commitment; and (B) filled from within the Fixed Rate which shall apply to such proposed Bid Loan if the applicable Borrower has requested a Fixed Rate Bid Loan or the LIBOR Bid Loan Spread which shall apply to such proposed Bid Loan if the applicable Borrower has requested a LIBOR Bid Loan and which may be a positive or negative number. If any Bid omits information required hereunder, the Agent may in its sole discretion attempt to notify the Bank submitting such Bid. If the Agent so notifies a Bank, such Bank may resubmit its Bid, provided that it does so prior to the applicable Bid Deadline. The Agent shall promptly notify the applicable Borrower of the Bids which it timely received from the Banks. If the Agent in its capacity as a Bank shall, in its sole discretion, make a Bid, it shall notify the Borrower of such Bid at least one-half hour before the applicable Bid Deadline.Denver ClusterDenver

Appears in 1 contract

Samples: Local Rider

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Bidding. The Administrative Agent shall promptly after receipt by it of a Bid Loan Request pursuant to Section 2.08(a) 2.9.1 notify the Revolving Credit Banks of its receipt of such Bid Loan Request specifying (i) the identity of the applicable Borrower, (ii) the proposed Bid Loan Borrowing Date, (iiiii) whether the proposed Bid Loan shall be a Fixed Rate Bid Loan or a LIBOR Euro-Rate Bid Loan, (iviii) the Bid Loan Interest Period, Period and (viv) the principal amount of the proposed Bid Loan and (vi) the Approved Currency for such Bid Loan. Each Revolving Credit Bank may submit a bid (a "Bid") to the Administrative Agent by telephone (immediately confirmed in writing by letter, facsimile, email, or telex) not later than the following (each10:00 a.m., as applicablePittsburgh time, a “Bid Deadline”): 10:00 A.M. New York time two (2) Business Day before on the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a Fixed Rate Bid Loan or 10:00 A.M. New York time three (3) Business Days before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a LIBOR Euro-Rate Bid Loan of oneby telephone (immediately confirmed in writing by letter, two, three, facsimile or six months’ durationtelex). Each Bid shall specify: (A) the principal amount of proposed Bid Loans offered by such Revolving Credit Bank (the "Offered Amount") (such Bid Loans may be funded by such Revolving Credit Bank's Designated Lender as provided in Section 2.9.4; however, such Revolving Credit Bank shall not be required to specify in its Bid whether such Bid Loans will be funded by such Designated Lender) which (i) may be less than, but shall not exceed, the Requested Amount, (ii) shall be at least $1,000,000 5,000,000 and shall be an integral multiple of $1,000,000 and (iii) may exceed such Revolving Credit Bank’s 's Revolving Credit Commitment; , and (B) the Fixed Rate which shall apply to such proposed Bid Loan if the applicable Borrower has requested a Fixed Rate Bid Loan or the LIBOR Euro-Rate Bid Loan Spread which shall apply to such proposed Bid Loan if the applicable Borrower has requested a LIBOR Euro-Rate Bid Loan and which may be a positive or negative numberLoan. If any Bid omits information required hereunder, the Administrative Agent may in its sole discretion attempt to notify the Revolving Credit Bank submitting such Bid. If the Administrative Agent so notifies a Revolving Credit Bank, such Revolving Credit Bank may resubmit its Bid, Bid provided that it does so prior to time set forth in this Section 2.9.2 above by which such Revolving Credit Bank is required to submit its Bid to the applicable Bid DeadlineAdministrative Agent. The Administrative Agent shall promptly notify the applicable Borrower of the Bids which it timely received from the Revolving Credit Banks. If the Administrative Agent in its capacity as a Revolving Credit Bank shall, in its sole discretion, make a Bid, it shall notify the Borrower of such Bid at least one-half hour before 9:00 a.m., Pittsburgh time, on the proposed Bid Loan Borrowing Date if Borrower is requesting a Fixed Rate Bid Loan on three (3) Business Days before the applicable proposed Borrowing Date if Borrower is requesting a Euro-Rate Bid DeadlineLoan.

Appears in 1 contract

Samples: Revolving Credit Facility (Arch Coal Inc)

Bidding. The Administrative Agent shall promptly after receipt by it of a Bid Loan Request pursuant to Section 2.08(a) 2.9.1 notify the Banks of its receipt of such Bid Loan Request specifying (i) the identity of the applicable Borrower, (ii) the proposed Bid Loan Borrowing Date, (iiiii) whether the proposed Bid Loan shall be a Fixed Rate Bid Loan or a LIBOR Euro-Rate Bid Loan, (iviii) the Bid Loan Interest Period, Period and (viv) the principal amount of the proposed Bid Loan and (vi) the Approved Currency for such Bid Loan. Each Bank may submit a bid (a "Bid") to the Administrative Agent by telephone (immediately confirmed in writing by letter, facsimile, email, or telex) not later than the following (each10:00 a.m., as applicablePittsburgh time, a “Bid Deadline”): 10:00 A.M. New York time two (2) Business Day before on the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a Fixed Rate Bid Loan or 10:00 A.M. New York time three (3) Business Days before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a LIBOR Euro-Rate Bid Loan of oneby telephone (immediately confirmed in writing by letter, two, three, facsimile or six months’ durationtelex). Each Bid shall specify: (A) the principal amount of proposed Bid Loans offered by such Bank (the "Offered Amount") (such Bid Loans may be funded by such Bank's Designated Lender as provided in Section 2.9.4; however, such Bank shall not be required to specify in its Bid whether such Bid Loans will be funded by such Designated Lender) which (i) may be less than, but shall not exceed, the Requested Amount, (ii) shall be at least $1,000,000 10,000,000 and shall be an integral multiple of $1,000,000 5,000,000 and (iii) may exceed such Bank’s 's Revolving Credit Commitment; , and (B) the Fixed Rate which shall apply to such proposed Bid Loan if the applicable Borrower has requested a Fixed Rate Bid Loan or the LIBOR Euro-Rate Bid Loan Spread which shall apply to such proposed Bid Loan if the applicable Borrower has requested a LIBOR Euro-Rate Bid Loan and which may be a positive or negative numberLoan. If any Bid omits information required hereunder, the Administrative Agent may in its sole discretion attempt to notify the Bank submitting such Bid. If the Administrative Agent so notifies a Bank, such Bank may resubmit its Bid, Bid provided that it does so prior to time set forth in this Section 2.9.2 above by which such Bank is required to submit its Bid to the applicable Bid DeadlineAdministrative Agent. The Administrative Agent shall promptly notify the applicable Borrower of the Bids which it timely received from the Banks. If the Administrative Agent in its capacity as a Bank shall, in its sole discretion, make a Bid, it shall notify the Borrower of such Bid at least one-half hour before 9:00 a.m., Pittsburgh time, on the proposed Bid Loan Borrowing Date if Borrower is requesting a Fixed Rate Bid Loan and three (3) Business Days before the applicable proposed Borrowing Date if Borrower is requesting a Euro-Rate Bid DeadlineLoan.

Appears in 1 contract

Samples: Credit Agreement (Arch Coal Inc)

Bidding. The Agent shall promptly Bidding begins and ends at set times (Emails will be sent when the auction goes live and on the final day of bidding as a reminder). Bids can be placed immediately after receipt by it of an auction has opened and you can bid on as many items as you want until the auction goes into extended bidding. It is encouraged that initial bids be placed early and often. a. Online bidding for registered users who have obtained a Bid Loan Request pursuant to Section 2.08(a) notify User ID and Password is available 24 hours. On the Banks of its receipt of such Bid Loan Request specifying (i) the identity final day of the applicable Borrowerauction at 8:00 PM Eastern Time, (ii) bidding will enter into an “extended bidding” period and after this time you may only bid on items which you previously placed a bid during the proposed Bid Loan Borrowing Dateinitial bidding phase. Thus, (iii) whether if you are the proposed Bid Loan shall only bidder on a lot at 8:00 PM Eastern Time on the auction closing date and the lot has met reserve, the auction software will disallow additional bidding for that lot and you will be a Fixed Rate Bid Loan or a LIBOR Bid Loandeclared the winner. Sloopy Auctions uses the "15-Minute Rule.” After 8:00 PM Eastern Time, (iv) our “Time Left” clock will count down in real time the Bid Loan Interest Period, (v) the principal amount of time remaining until such time as no lots receive even a single bid for a interval of 15 minutes. At this time, the proposed Bid Loan auction will officially close and (vi) "Time Left" will read "Auction Has Ended". You will need to refresh at the Approved Currency for such Bid Loan. Each Bank may submit a bid (a “Bid”) end of each 15-minute interval to the Agent by telephone (immediately confirmed in writing by letter, facsimile, email, or telex) not later than the following (each, as applicable, a “Bid Deadline”): 10:00 A.M. New York time two (2) Business Day before the proposed Bid Loan Borrowing Date see if the applicable Borrower auction is requesting a Fixed Rate Bid Loan or 10:00 A.M. New York time three (3) Business Days before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a LIBOR Bid Loan of one, two, three, or six months’ duration. Each Bid shall specify: (A) the principal amount of proposed Bid Loans offered by such Bank (the “Offered Amount”) which (i) may be less than, but shall not exceed, the Requested Amount, (ii) shall be at least $1,000,000 and shall be an integral multiple of $1,000,000 and (iii) may exceed such Bank’s Revolving Credit Commitment; and (B) the Fixed Rate which shall apply to such proposed Bid Loan if the applicable Borrower has requested a Fixed Rate Bid Loan still active for another 15-minute interval or the LIBOR Bid Loan Spread which shall apply to such proposed Bid Loan if the applicable Borrower auction has requested a LIBOR Bid Loan and which may be a positive or negative number. If any Bid omits information required hereunder, the Agent may in its sole discretion attempt to notify the Bank submitting such Bidended. If the Agent so notifies auction continues to be active until 1:45 AM Eastern Time the next morning, a Bank, such Bank may resubmit its 15-minute clock will start that WILL NOT RESET and the Auction WILL END at 2:00 AM Eastern Time. b. For each item in the auction there is a "Minimum Bid, provided that it does so prior ," the price below which the lot will not be sold. c. Bidding increases will be accepted in increments of 10% above the current high. There are no exceptions to the applicable bid raise amounts. There are several bidding options: • Next Bid Deadline(the next amount necessary to bid on the item) • Autobid ("max", "ceiling" or "up to") Bids (up to a specific amount that you choose, the software bidding competitively on your behalf). The Agent shall promptly notify • Straight Bids (bid the applicable Borrower exact amount you tell the software to bid for you, if the current bid is $500 and you place a straight bid of $733 the Bids which current bid will jump to $733). d. Our software ensures that Consignors are not allowed to bid on their own items. We have also designed our software so that we absolutely can't see any ceiling bid, EVER. This is an absolute rule and our software makes it timely received is impossible for this to be broken. Unlike other auction houses, your ceiling bids are absolutely secure at Sloopy Auctions! e. Sloopy Auctions uses the MOST secure auction software in the world designed by Create Auction LLC. There is no back door where anyone can ever see your password, maximum bid, or even if you have placed a maximum bid on an item. Other software providers can have these functions turned off, but there is always a way you can see this information if you really want to. With Honest Auto Bid from Create Auction LLC., there is absolute peace of mind that your high bids will be known only to you! f. A 20% Buyer’s Premium will be added to all winning bids. For example, the Bankswinner of a lot selling for a high bid of $1000 will be billed $1200 (plus shipping charges and sales tax, if applicable). g. When a bidder is outbid, an email will be sent notifying that bidder that they have been topped. If Notification as such is intended to provide bidders in the Agent in its capacity timeliest manner possible with information regarding their bids' changed status. h. It is the goal of Sloopy Auctions to sell as many lots as possible. As such, our goal is to never have reserves. On occasion, we may offer an item of particular interest or historical importance with a Bank shallreserve. In these instances, in its sole discretion, make the fact that there is a Bid, it shall notify the Borrower of such Bid at least one-half hour before the applicable Bid Deadlinereserve will be clearly noted.

Appears in 1 contract

Samples: User Agreement

Bidding. A. The Employer shall conduct semiannual general bids, which shall be posted January 15, and July 15, of each year and successful bidders shall be awarded their bids each respective first (1st) Monday in February and in August. Bid sheets shall be posted at each covered terminal and each bid position available at each terminal shall include the respective start times and work week. Bids will designate a general job description (by title and primary duties) and any special requirements. Prior to posting, all proposed bids must be reviewed with the Local Union 961455 Business Agent shall promptly after receipt by it and Stewards at each station. Part -time employees may bid more than one part-time shift, only if such bidding does not result in the layoff of a Bid Loan Request pursuant less senior employee. B. When the semi-annual bid is conducted, it will be accomplished by assigned bid times, individually set up for fifteen (15) minute intervals. Each employee shall bid for their desired work shift at his/her assigned time. The assigned times will be posted on the first working day after January 1st and July 1st prior to Section 2.08(athe posting of the bids on January 15 and July 15th. Proxies may be given to the xxxxxxx to be presented to Management on the bidder’s behalf, if that employee knows in advance that he/she will be unavailable during his/her assigned window. Each employee is responsible for making his/her bid at the appropriate time. If an employee misses his/her bid window, the Employer may move on to the next assigned employee bid time. A “tardy bidder” who has not given a proxy to the xxxxxxx and who did not contact the employer during his/her assigned bid window, may bid into any job still available when he/she contacts the employer. Once the semi-annual bid is complete, the Company will not change bids without seventy-two (72) notify hour notification to the Banks Union as to the reason necessitating the change. C. Employees may bid on any position, for which they are currently qualified. (Example: Class A Driving bid, PM Clerical Shift, requiring Hazardous material inspection, etc.). Selection of its receipt of such Bid Loan Request specifying bids will be made on seniority basis, among qualified employees. D. In the event that a bid requiring specific qualifications is not filled or remains open after all eligible employees have bid, employees not presently qualified for the bid position, may, in seniority order, bid on the open position, subject to the following in (i) and (ii). i. Successful bidders shall be given a minimum of 30 days probationary period in which to satisfy the identity requirements of the applicable Borrowerawarded position. The Union and Company may agree to extend the probationary period for subsequent thirty (30) calendar day periods, (but no longer than 90 days in total. ii) . An employee who fails to meet the proposed Bid Loan Borrowing Daterequirements necessary to hold down the bid, (iii) whether the proposed Bid Loan shall be allowed to bump into any open position in his/her classification that his/her seniority and qualifications will allow. E. The company will have a Fixed Rate Bid Loan or a LIBOR Bid Loan, (iv) the Bid Loan Interest Period, (v) the principal amount minimum of the proposed Bid Loan and (vi) the Approved Currency for such Bid Loan. Each Bank may submit a bid (a “Bid”) to the Agent by telephone (immediately confirmed in writing by letter, facsimile, email, or telex) not later than the following (each, as applicable, a “Bid Deadline”): 10:00 A.M. New York time two (2) Business Day before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a Fixed Rate Bid Loan or 10:00 A.M. New York time three (3) Business Days before Dock Shuttle employees at the proposed Bid Loan Borrowing Date if DVR DEN facility, Astar Haz Trained. F. The company will provide the applicable Borrower required recurrent training for individuals who hold current certifications in Weight and Balance ad Hazardous Materials Inspection, subject to the provisions of Article 26 of this Local Rider (“Pay for Training”). G. If any present job position is requesting a LIBOR Bid Loan of onevacated by retirement, two, threeresignation, or six months’ duration. Each Bid shall specify: termination or an additional bid shift is created (Ameaning additional employee is needed) the principal amount of proposed Bid Loans offered by at any covered terminal, such Bank (the “Offered Amount”) which (i) may be less than, but shall not exceed, the Requested Amount, (ii) position shall be immediately posted and any employee within the job classification at least $1,000,000 all terminals shall be afforded the opportunity to bid. The successful bidder shall be informed of his award at the close of the bid, and the bid shall be effective a minimum of seven (7) days following the date the position was posted. The position vacated by that successful bidder will be filled internally at that facility. H. In the event an existing bid is modified by anyone of the following, that bid shall be considered a new position and shall be an integral multiple of $1,000,000 posted and (iii) may exceed such Bank’s Revolving Credit Commitment; and (B) filled from within the Fixed Rate which shall apply to such proposed Bid Loan if the applicable Borrower has requested a Fixed Rate Bid Loan or the LIBOR Bid Loan Spread which shall apply to such proposed Bid Loan if the applicable Borrower has requested a LIBOR Bid Loan and which may be a positive or negative number. If any Bid omits information required hereunder, the Agent may in its sole discretion attempt to notify the Bank submitting such Bid. If the Agent so notifies a Bank, such Bank may resubmit its Bid, provided that it does so prior to the applicable Bid Deadline. The Agent shall promptly notify the applicable Borrower of the Bids which it timely received from the Banks. If the Agent in its capacity as a Bank shall, in its sole discretion, make a Bid, it shall notify the Borrower of such Bid at least one-half hour before the applicable Bid Deadline.Denver ClusterDenver

Appears in 1 contract

Samples: Local Rider Agreement

Bidding. The Administrative Agent shall promptly after receipt by it of a Bid Loan Request pursuant to Section 2.08(a) 2.11.1 notify the Revolving Credit Banks of its receipt of such Bid Loan Request specifying (i) the identity of the applicable Borrowerproposed Borrowing Date, (ii) the proposed Bid Loan Borrowing Date, (iii) whether the proposed Bid Loan shall be a Fixed Rate Bid Loan or a LIBOR Bid Loan, (iv) the Bid Loan Interest Period, Period and (viii) the principal amount of the proposed Bid Loan and (vi) the Approved Currency for such Bid Loan. Each Revolving Credit Bank may submit a bid (a "Bid") in the form of EXHIBIT 2.11.2 to the Administrative Agent by telephone (immediately confirmed in writing by letter, facsimile, email, or telex) not later than the following (each, as applicable, a “Bid Deadline”): 10:00 A.M. New York Columbus time two one (21) Business Day before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a Fixed Rate Bid Loan or 10:00 A.M. New York time three (3) Business Days before the proposed Bid Loan Borrowing Date if the applicable Borrower is requesting a LIBOR Bid Loan of one, two, three, or six months’ durationin writing by facsimile. Each Bid shall specify: (A) the principal amount of proposed Bid Loans offered by such Revolving Credit Bank (such Bid Loans may be funded by such Revolving Credit Bank's Designated Lender as provided in Section 2.11.4, however, such Revolving Credit Bank shall not be required to specify in its Bid whether such Bid Loans will be funded by such Designated Lender) (the "Offered Amount") which (i) may be less than, but shall not exceed, the Requested Amount, (ii) shall be at least $1,000,000 5,000,000 and shall be an integral multiple of $1,000,000 and (iii) may exceed such Revolving Credit Bank’s 's Revolving Credit Commitment; , and (B) the Fixed Rate which shall apply to such proposed Bid Loan if the applicable Borrower has requested a Fixed Rate Bid Loan or the LIBOR Bid Loan Spread which shall apply to such proposed Bid Loan if the applicable Borrower has requested a LIBOR Bid Loan and which may be a positive or negative numberLoan. If any Bid omits information required hereunder, the Administrative Agent may in its sole discretion attempt to notify the Revolving Credit Bank submitting such Bid. If the Administrative Agent so notifies a Revolving Credit Bank, such Revolving Credit Bank may resubmit its Bid, Bid provided that it does so prior to the applicable time set forth above in this Section 2.11 by which such Revolving Credit Bank is required to submit its Bid Deadlineto the Administrative Agent. The Administrative Agent shall promptly notify the applicable Borrower of the Bids which it timely received from the Revolving Credit Banks. If the Administrative Agent in its capacity as a Revolving Credit Bank shall, in its sole discretion, make a Bid, it shall notify the Borrower of such Bid at least one-half hour before 9:00 A.M., Columbus time, one (1) Business Day before the applicable Bid Deadlineproposed Borrowing Date.

Appears in 1 contract

Samples: Credit Agreement (Consolidated Stores Corp /De/)

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