Competitive Bid Borrowings. (a) Whenever a Borrower desires to incur a Competitive Bid Borrowing, it shall deliver to the Administrative Agent at the Notice Office prior to 11:00 A.M. (New York time), at least three Business Days prior to the date of such proposed Competitive Bid Borrowing, a written notice substantially in the form of Exhibit B (each, a “Notice of Competitive Bid Borrowing”), such notice to specify in each case (i) the date (which shall be a Business Day) of the proposed Competitive Bid Borrowing, (ii) the aggregate principal amount of the proposed Competitive Bid Borrowing (stated in the relevant Available Currency), which shall not be less than the Minimum Borrowing Amount applicable thereto, (iii) the maturity date (each, a “Competitive Bid Loan Maturity Date”) for repayment of each Competitive Bid Loan to be made as part of such Competitive Bid Borrowing (which maturity date may not be earlier than seven days after the date of such Competitive Bid Borrowing or later than 360 days after the date of such Competitive Bid Borrowing (but in no event later than the thirtieth day preceding the Maturity Date)), (iv) the interest payment date or dates relating thereto (which shall be at least every three months in the case of maturities in excess of three months), and (v) any other terms to be applicable to such Competitive Bid Borrowing (although all Competitive Bid Borrowings shall be required to be made, and maintained, in an Available Currency). The Administrative Agent shall promptly notify each Bidder RL Lender of each such request for a Competitive Bid Borrowing received by it from a Borrower by transmitting (by way of facsimile) to each such Bidder RL Lender a copy of the related Notice of Competitive Bid Borrowing.
Competitive Bid Borrowings. (a) The Competitive Bid Option. In addition to Committed Borrowings pursuant to Section 2.01, any Borrower may, as set forth in this Section, request the Banks during the Revolving Credit Period to make offers to make Competitive Bid Loans to such Borrower. The Banks may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section.
Competitive Bid Borrowings. (a) In addition to Committed Loans pursuant to Section 2.01, the Company may, as set forth in this Section 2.03 from time to time prior to the Commitment Termination Date or earlier termination of the Commitments, request the Lenders to make offers to make Competitive Bid Loans to the Company, but only to the extent that, after giving effect thereto, the Total Usage of all Lenders does not exceed the Total Commitments. Such Lenders may, but shall have no obligation to, make such offers and the Company may, but shall have no obligation to, accept any such offers in the manner set forth in this Section.
Competitive Bid Borrowings. Each such Competitive Bid Quote Request shall be substantially in the form of ExhibitH attached hereto and incorporated herein by reference and shall specify as to each Competitive Bid Borrowing:
Competitive Bid Borrowings. (a) Whenever the Borrower desires to incur a Competitive Bid Borrowing, it shall deliver to the Administrative Agent at the Administrative Agent's Office, prior to 11:00 A.M. (New York time) at least three Business Days prior to the date of such proposed Competitive Bid Borrowing, a written notice (each, a "Notice of Competitive Bid Borrowing"), which notice shall specify in each case (i) the date (which shall be a Business Day) and the aggregate amount of the proposed Competitive Bid Borrowing, (ii) the maturity date for repayment of each Competitive Bid Loan to be made as part of such Competitive Bid Borrowing (which maturity date may not be earlier than 14 days after the date of such Competitive Bid Borrowing or later than the earlier to occur of (x) 180 days after the date of such Competitive Bid Borrowing and (y) the third Business Day preceding the Facility Maturity Date), (iii) the interest payment date or dates relating thereto and (iv) any other terms to be applicable to such Competitive Bid Borrowing. The Administrative Agent shall promptly notify each Bidder of each such request for a Competitive Bid Borrowing received by it from the Borrower by telecopying to each such Bidder a copy of the related Notice of Competitive Bid Borrowing.
Competitive Bid Borrowings. (a) THE COMPETITIVE BID OPTION. In addition to the Syndicated Loans permitted to be made hereunder pursuant to Section 2.1 hereof, the Borrower may, from time to time during the Revolver Period pursuant to the terms of this Section 2.3, cause the Agent to request the Lenders to make offers to fund Competitive Bid Loans to the Borrower from time to time prior to the Maturity Date. The Lenders may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept such offers in the manner set forth in this Section 2.3. Each Lender may make Competitive Bid Loans in an aggregate amount (after giving effect to all amounts requested) not to exceed the lesser of (i) the Total Commitment and (ii) the Competitive Bid Sublimit, PROVIDED that at no time shall the sum of (A) the aggregate amount of all outstanding Syndicated Loans, PLUS (B) the aggregate amount of all outstanding Swing Line Loans, PLUS (C) the Maximum Drawing Amount, PLUS (D) all Unpaid Reimbursement Obligations, PLUS (E) the aggregate outstanding amount of Competitive Bid Loans exceed the Total Commitment.
Competitive Bid Borrowings. (a) The Competitive Bid Option. In addition to the Syndicated Loans permitted to be made hereunder pursuant to 2.1 hereof, the Company may, pursuant to the terms of this 2.5, cause the Agent to request the Banks to make offers to fund Competitive Bid Loans to the Company from time to time prior to the Final Maturity Date. The Banks may, but shall have no obligation to, make such offers and the Company may, but shall have no obligation to, accept such offers in the manner set forth in this 2.5. Notwithstanding any other provision herein to the contrary, at no time shall the Utilization exceed the lesser of (i) the Total Commitment and (ii) an amount equal to (A) the Maximum Availability minus (B) the Utilization under and as defined in the Revolving Credit Agreement at such time;
Competitive Bid Borrowings. (a) THE COMPETITIVE BID OPTION. In addition to the Syndicated Loans permitted to be made hereunder pursuant to Section 2.1, the Borrower may, from time to time from the Closing Date until the Revolving Credit Loan Maturity Date pursuant to the terms of this Section 2.3, cause the Agent to request the Banks to make offers to fund Competitive Bid Loans to the Borrower. The Banks may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept such offers in the manner set forth in this Section 2.3. Each Bank may make Competitive Bid Loans as provided in this Section 2.3.
Competitive Bid Borrowings. Subject to the terms and conditions of this Agreement, each Lender severally agrees that during any Rated Period, the Borrower may effect Competitive Bid Borrowings under this Section 2.4 from time to time on any Business Day during the Revolving Credit Period in the manner set forth below, provided, however, that the principal balance of all Competitive Bid Advances outstanding hereunder shall not at any time exceed the lesser of (x) the Competitive Bid Ceiling, and (y) the Total Commitment Amount less the outstanding principal balance of all Conventional Advances.
Competitive Bid Borrowings. (a) Competitive Bid Advance Option. In addition to the Advances permitted pursuant to 2 hereof, the Trust may, pursuant to the terms of this 3, cause the Agent to request that the Banks make offers to fund Advances to the Trust from time to time prior to the Termination Date. The Banks may, but shall have no obligation to, make such offers and the Trust may, but shall have no obligation to, accept such offers in the manner set forth in this 3. (b) Competitive Bid Request. When the Trust wishes to request offers to make Competitive Bid Advances under this 3, it shall transmit to the Agent by telex or telecopier a bid request substantially in the form of Exhibit C hereto to be received no later than 10:00 A.M. on the first Business Day prior to the requested Borrowing date with respect to Absolute Rate Advances specifying (A) the requested Borrowing date (which must be a Business Day) and the amount of such Competitive Bid Advance (which must be a minimum of $2,500,000) and may not, together with the aggregate amount of all other Advances then Outstanding to the Trust, exceed the Available Commitment and (B) the Interest Period for such Advance. The Trust may request offers to make Advances for more than one Interest Period in a single bid request. The Trust may submit a request for offers to make Competitive Bid Advances that number of times in any period of 12 consecutive months which does not exceed the difference between forty (40) and the number of times the Company requests "Competitive Bid Advances" under and as defined in the Company Credit Agreement during the same 12 month period. (c)
