Common use of Competitive Bid Option Clause in Contracts

Competitive Bid Option. In addition to Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 as to the maximum aggregate principal amount of all outstanding Advances hereunder), prior to the Termination Date the Borrower may, as set forth in this Section 2.3, request the Lenders to make offers to make Competitive Bid Advances to the Borrower. Each Lender 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 2.3.

Competitive Bid Option. In addition to Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 2.1.2(a) as to the maximum aggregate principal amount of all outstanding Advances hereunderand Facility Letter of Credit Obligations hereunder and the limitation in Section 2.1.2(b) as to the maximum aggregate amount of all outstanding Competitive Bid Advances), prior to the Termination Date the Borrower may, as set forth in this Section 2.3, request the Lenders Lenders, prior to the Facility Termination Date, to make offers to make Competitive Bid Advances to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers offer in the manner set forth in this Section 2.3. 2.3.2.

Competitive Bid Option. In addition to Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 2.1.2(a) as to the maximum aggregate principal amount of all outstanding Advances hereunderand Facility Letter of Credit Obligations hereunder and the limitation in Section 2.1.2(b) as to the maximum aggregate amount of all outstanding Competitive Bid Advances), prior to the Termination Date the Borrower may, as set forth in this Section 2.3, request the Lenders Lenders, prior to the Facility Termination Date, to make offers to make Competitive Bid Advances to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers offer in the manner set forth in this Section 2.3.

Competitive Bid Option. In addition to Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 2.1.2(a) as to the maximum aggregate principal amount of all outstanding Advances hereunderand Facility Letter of Credit Obligations hereunder and the limitation in Section 2.1.2(b) as to the maximum aggregate amount of all outstanding Competitive Bid Advances), prior to the Termination Date the Borrower theBorrower may, as set forth in this Section 2.3, request the Lenders Lenders, prior to theFacility Termination Date, to make offers to make Competitive Bid Advances to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers offer in the manner set forth in this Section 2.3.

Competitive Bid Option. In addition to Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 as to the maximum aggregate principal amount of all outstanding Advances hereunder), prior to the Termination Date the Borrower may, as set forth in this Section 2.3, request the Lenders Lenders, prior to the Termination Date, to make offers to make Competitive Bid Advances to the Borrower. Each Lender 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 2.3. There shall be no more than five Competitive Bid Advances outstanding at any one time.

Competitive Bid Option. In addition to Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 as to the maximum aggregate principal amount of all outstanding Advances Credit Extensions hereunder), prior to and provided further that the Termination Date Borrower's Unsecured Debt Rating is at least BBB- or greater or Baa3 or greater, as assigned by the applicable Rating Agencies, the Borrower may, as set forth in this Section 2.3, request the Lenders Lenders, prior to the Facility Termination Date, to make offers to make Competitive Bid Advances to the Borrower. Each Lender 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 2.3.