Common use of Competitive Bid Request Clause in Contracts

Competitive Bid Request. Subject to the terms and conditions set forth herein, from time to time prior to the Termination Date, the Borrower may request Competitive Bids and may (but shall not have any obligation to) accept Competitive Bids and borrow Competitive Loans, provided that (i) in no event may the aggregate principal balance of all outstanding Competitive Loans exceed $300,000,000 and (ii) in no event may the Aggregate Credit Exposure exceed the Aggregate Commitment. To request Competitive Bids, the Borrower shall notify the Administrative Agent of such request by telephone not later than 11:00 a.m., New York time, one Business Day before the date of the proposed Competitive Loan; provided that the Borrower may submit up to (but not more than) three (3) Competitive Bid Requests on the same day, but a Competitive Bid Request shall not be made within five Business Days after the date of any previous Competitive Bid Request, unless any and all such previous Competitive Bid Requests shall have been withdrawn or all Competitive Bids received in response thereto rejected. Each such telephonic Competitive Bid Request shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Competitive Bid Request in a form approved by the Administrative Agent and signed by the Borrower. Each such telephonic and written Competitive Bid Request shall specify the following information:

Competitive Bid Request. Subject In order to the terms and conditions set forth herein, from time to time prior to the Termination Date, the Borrower may request Competitive Bids and may (but shall not have any obligation to) accept Competitive Bids and borrow Competitive Loans, provided that (i) in no event may the aggregate principal balance of all outstanding Competitive Loans exceed $300,000,000 and (ii) in no event may the Aggregate Credit Exposure exceed the Aggregate Commitment. To request Competitive Bids, the Borrower shall notify deliver to the Administrative Agent a duly completed Competitive Bid Request in the form of such request Exhibit C-1 hereto (a "Competitive Bid Request") to be received by telephone the Administrative Agent not later than 11:00 a.m., New York a.m. (Charlotte time, one ) two Business Day Days before the date of the each proposed Competitive Bid Loan; provided that that, the Borrower may not submit up to more than five (but not more than) three (35) Competitive Bid Requests on during any period of ten (10) consecutive Business Days. A Competitive Bid Request that does not conform substantially to the same dayform of Exhibit C-1 may be rejected in the Administrative Agent's sole discretion, but and the Administrative Agent shall promptly notify the Borrower of such rejection by telephone promptly confirmed by telecopy. Such request shall in each case refer to this Agreement and specify (i) the date of such borrowing (which shall be a Business Day), (ii) the aggregate principal amount of such borrowing which shall be in a minimum principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (iii) the Competitive Bid Interest Period with respect thereto. Promptly after its receipt of a Competitive Bid Request that is not rejected as aforesaid, the Administrative Agent shall not be made within five Business Days after invite by telecopier (in the date form set forth in Exhibit C-2 hereto) the Lenders to bid, on the terms and conditions of any previous this Agreement, to make Competitive Bid Loans pursuant to the Competitive Bid Request, unless any and all such previous Competitive Bid Requests shall have been withdrawn or all Competitive Bids received in response thereto rejected. Each such telephonic Competitive Bid Request shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Competitive Bid Request in a form approved by the Administrative Agent and signed by the Borrower. Each such telephonic and written Competitive Bid Request shall specify the following information:(b)

Competitive Bid Request. Subject In order to the terms and conditions set forth herein, from time to time prior to the Termination Date, the Borrower may request Competitive Bids and may (but shall not have any obligation to) accept Competitive Bids and borrow Competitive Loans, provided that (i) in no event may the aggregate principal balance of all outstanding Competitive Loans exceed $300,000,000 and (ii) in no event may the Aggregate Credit Exposure exceed the Aggregate Commitment. To request Competitive Bids, the Borrower shall notify deliver to the Administrative Agent a duly completed Competitive Bid Request in the form of such request Exhibit C-1 hereto (a "Competitive Bid Request") to be received by telephone the Administrative Agent not later than 11:00 a.m., New York a.m. (Charlotte time, one ) two Business Day Days before the date of the each proposed Competitive Bid Loan; provided that that, the Borrower may not submit up to more than five (but not more than) three (35) Competitive Bid Requests on during any period of ten (10) consecutive Business Days. A Competitive Bid Request that does not conform substantially to the same dayform of Exhibit C-1 may be rejected in the Administrative Agent's sole discretion, but and the Administrative Agent shall promptly notify the Borrower of such rejection by telephone promptly confirmed by telecopy. Such request shall in each case refer to this Agreement and specify (i) the date of such borrowing (which shall be a Business Day), (ii) the aggregate principal amount of such borrowing which shall be in a minimum principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (iii) the Competitive Bid Interest Period with respect thereto. Promptly after its receipt of a Competitive Bid Request that is not rejected as aforesaid, the Administrative Agent shall not be made within five Business Days after invite by telecopier (in the date form set forth in Exhibit C-2 hereto) the Lenders to bid, on the terms and conditions of any previous this Agreement, to make Competitive Bid Loans pursuant to the Competitive Bid Request, unless any and all such previous Competitive Bid Requests shall have been withdrawn or all Competitive Bids received in response thereto rejected. Each such telephonic Competitive Bid Request shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Competitive Bid Request in a form approved by the Administrative Agent and signed by the Borrower. Each such telephonic and written Competitive Bid Request shall specify the following information:.

Competitive Bid Request. Subject to the terms and conditions set forth herein, from time to time prior to the Termination Date, the Borrower may request Competitive Bids and may (but shall not have any obligation to) accept Competitive Bids and borrow Competitive Loans, provided that (i) in no event may the aggregate principal balance of all outstanding Competitive Loans exceed $300,000,000 and (ii) in no event may the Aggregate Credit Exposure exceed the Aggregate Commitment. To request Competitive Bids, the Borrower shall notify the Administrative Agent of such request by telephone not later than 11:00 10:00 a.m., New York Chicago time, one Business Day before the date of the proposed Competitive Loan; provided that the Borrower may submit up to (but not more than) three (3) Competitive Bid Requests on the same day, but a Competitive Bid Request shall not be made within five Business Days after the date of any previous Competitive Bid Request, unless any and all such previous Competitive Bid Requests shall have been withdrawn or all Competitive Bids received in response thereto rejected. Each such telephonic Competitive Bid Request shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Competitive Bid Request in a form approved by the Administrative Agent and signed by the Borrower. Each such telephonic and written Competitive Bid Request shall specify the following information: