Common use of Competitive Loans Clause in Contracts

Competitive Loans. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, the Borrower may, during the Commitment Period, request and each Lender may, in its sole discretion, agree to make, Competitive Loans to the Borrower; provided, however, that (i) with regard to each Lender individually, the sum of such Lender's share of outstanding Revolving Loans plus such Lender's Revolving Commitment Percentage of outstanding Swingline Loans plus such Lender's LOC Commitment Percentage of outstanding LOC Obligations shall not exceed such Lender's Revolving Committed Amount, (ii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations plus outstanding Competitive Loans shall not exceed the Aggregate Revolving Committed Amount and (iii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Competitive Loans shall not exceed 50% of the Aggregate Revolving Committed Amount. Each Competitive Loan shall be not less than $5,000,000 in the aggregate and integral multiples of $1,000,000 in excess thereof (or the remaining portion of the Revolving Committed Amount, if less).

Competitive Loans. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, the Borrower may, during the Commitment Period, request and each Lender may, in its sole discretion, agree to make, Competitive Loans to the Borrower; provided, however, that (i) with regard to each Lender individually, the sum of such Lender's share of outstanding Revolving Loans plus such Lender's Revolving Commitment Percentage of outstanding Swingline Loans plus such Lender's LOC Commitment Percentage of outstanding LOC Obligations shall not exceed such Lender's Revolving Committed Amount, (ii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations plus outstanding Competitive Loans shall not exceed the Aggregate Revolving Committed Amount and (iii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Competitive Loans shall not exceed 50% of the Aggregate Revolving Committed AmountAmount (less any outstanding Revolving Loans or other Extensions of Credit). Each Competitive Loan shall be not less than $5,000,000 in the aggregate and integral multiples of $1,000,000 in excess thereof (or the remaining portion of the Revolving Committed Amount, if less).

Competitive Loans. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, the Borrower may, during the Commitment Period, request and each Lender may, in its sole discretion, agree to make, Competitive Loans to the Borrower; provided, however, that (i) with regard to each Lender individually, the sum of such Lender's ’s share of outstanding Revolving Loans plus such Lender's ’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Lender's ’s LOC Commitment Percentage of outstanding LOC Obligations shall not exceed such Lender's ’s Revolving Committed Amount, (ii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations plus outstanding Competitive Loans shall not exceed the Aggregate Revolving Committed Amount and (iii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Competitive Loans shall not exceed 50% of the Aggregate Revolving Committed Amount. Each Competitive Loan shall be not less than $5,000,000 in the aggregate and integral multiples of $1,000,000 in excess thereof (or the remaining portion of the Revolving Committed Amount, if less).

Competitive Loans. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, the Borrower may, during the Commitment PeriodPeriod to the extent the Borrower’s Debt Rating is BBB- or Baa3 or better at such time, the Borrower may request and each Lender may, in its sole discretion, agree to make, Competitive Loans to the BorrowerBorrower in Dollars; provided, however, that (i) the aggregate Dollar Amount of all Competitive Bid Loans shall not exceed 50% of the remainder of (x) the Aggregate Revolving Committed Amount less (y) the sum of the outstanding Revolving Loans plus outstanding Swingline Loans plus LOC Obligations, (ii) with regard to each Lender individually, the sum of such Lender's ’s share of outstanding Revolving Loans plus such Lender's Revolving ’s Commitment Percentage of outstanding Swingline Loans plus such Lender's ’s LOC Commitment Percentage of outstanding LOC Obligations shall not exceed such Lender's Revolving Committed Amount, (ii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations plus outstanding Competitive Loans shall not exceed the Aggregate ’s Revolving Committed Amount and (iii) with regard to the Lenders collectively, the sum of the aggregate amount Dollar Amount of outstanding Revolving Loans plus Swingline Loans plus LOC Obligations plus Competitive Loans shall not exceed 50% of the Aggregate Revolving Committed Amount. Each Competitive Loan shall be not less than $5,000,000 3,000,000 in the aggregate and integral multiples of $1,000,000 in excess thereof (or the remaining portion of the Revolving Committed Amount, if less).

Competitive Loans. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, the Borrower may, during the Commitment Period, to the extent Hyatt’s Debt Rating is BBB- or Baa3 or better at such time, the Borrower may request and each Lender may, in its sole discretion, agree to make, Competitive Loans to the BorrowerBorrower in Dollars; provided, however, that (i) the aggregate principal amount of all Competitive Loans shall not exceed 50% of the remainder of (x) the Aggregate Revolving Committed Amount less (y) the Dollar Amount (determined as of the most recent Revaluation Date) of the sum of the outstanding Revolving Loans plus LOC Obligations, (ii) with regard to each Lender individually, the sum of the Dollar Amount (determined as of the most recent Revaluation Date) of such Lender's share ’s Commitment Percentage of outstanding Revolving Loans plus such Lender's Revolving Commitment Percentage of outstanding Swingline Loans plus such Lender's ’s LOC Commitment Percentage of outstanding LOC Obligations shall not exceed such Lender's Revolving Committed Amount, (ii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations plus outstanding Competitive Loans shall not exceed the Aggregate ’s Revolving Committed Amount and (iii) with regard to the Lenders collectively, the sum of the aggregate amount Dollar Amount (determined as of the most recent Revaluation Date) of outstanding Revolving Loans plus LOC Obligations plus Competitive Loans shall not exceed 50% of the Aggregate Revolving Committed Amount. Each Competitive Loan shall be not less than $5,000,000 3,000,000 in the aggregate and integral multiples of $1,000,000 in excess thereof (or the remaining portion of the Revolving Committed Amount, if less).

Competitive Loans. Subject to and upon the terms and conditions hereof and in reliance ----------------- relying upon the representations and warranties herein set forth hereinforth, the Borrower Borrowers may, during from time to time until the Commitment PeriodMaturity Date, request and each Lender may, in its sole discretion, agree to make, Competitive Loans in Dollars to the BorrowerBorrowers; provided, however, that (i) with regard to each Lender individually, the sum of such Lender's share of outstanding Revolving Loans plus such Lender's Revolving Commitment Percentage of outstanding Swingline Loans plus such Lender's LOC Commitment Percentage of outstanding LOC Obligations shall not exceed such Lender's Revolving Committed Amount, (ii) with regard to the Lenders collectively, the sum of the aggregate principal amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations plus -------- ------- outstanding Competitive Loans shall not at any time exceed the Aggregate lesser of (a) an amount equal to fifty percent (50%) of the aggregate Revolving Committed Amount, or, so long as the Company shall have attained and shall maintain a rating for its senior unsecured non-credit enhanced long-term debt of BBB- or better by S&P or Baa3 or better by Xxxxx'x, or in the absence of a rating, a Total Debt Ratio of less than 3.5:1.0, an amount equal to one hundred percent (100%) of the aggregate Revolving Committed Amount, or (b) the Revolving Committed Amount (the "Competitive Loan Maximum Amount"), and (iiiii) with regard to the Lenders collectively, the sum of Revolving Loans ------------------------------- outstanding plus Swingline Loans outstanding plus the aggregate amount of LOC Obligations ---- ---- outstanding plus Competitive Loans outstanding shall not at any time exceed 50% of the Aggregate ---- Revolving Committed Amount. Each Competitive Loan shall be not less than $5,000,000 in the aggregate and integral multiples of $1,000,000 in excess thereof (or the remaining portion of the Revolving Committed Competitive Loan Maximum Amount, if less).

Competitive Loans. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, the Borrower may, during the Commitment Period, request and each Lender may, in its sole discretion, agree to make, Competitive Loans to the Borrower; provided, however, that (i) with regard to each Lender individually, the sum of such Lender's ’s share of outstanding Revolving Loans plus such Lender's ’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Lender's ’s LOC Commitment Percentage of outstanding LOC Obligations shall not exceed such Lender's ’s Revolving Committed Amount, (ii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations plus outstanding Competitive Loans shall not exceed the Aggregate Revolving Committed Amount and (iii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Competitive Loans shall not exceed 50% of the Aggregate Revolving Committed AmountAmount (less any outstanding Revolving Loans or other Extensions of Credit). Each Competitive Loan shall be not less than $5,000,000 in the aggregate and integral multiples of $1,000,000 in excess thereof (or the remaining portion of the Revolving Committed Amount, if less).

Competitive Loans. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, the Borrower may, during the Commitment PeriodPeriod to the extent the Borrower’s Debt Rating is BBB- or Baa3 or better at such time, the Borrower may request and each Lender may, in its sole discretion, agree to make, Competitive Loans to the BorrowerBorrower in Dollars; provided, however, that (i) the aggregate principal amount of all Competitive Loans shall not exceed 50% of the remainder of (x) the Aggregate Revolving Committed Amount less (y) the Dollar Amount (determined as of the most recent Revaluation Date) of the sum of the outstanding Revolving Loans plus outstanding Swingline Loans plus LOC Obligations, (ii) with regard to each Lender individually, the sum of the Dollar Amount (determined as of the most recent Revaluation Date) of such Lender's share ’s Commitment Percentage of outstanding Revolving Loans plus such Lender's Revolving ’s Commitment Percentage of outstanding Swingline Loans plus such Lender's ’s LOC Commitment Percentage of outstanding LOC Obligations shall not exceed such Lender's Revolving Committed Amount, (ii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations plus outstanding Competitive Loans shall not exceed the Aggregate ’s Revolving Committed Amount and (iii) with regard to the Lenders collectively, the sum of the aggregate amount Dollar Amount (determined as of the most recent Revaluation Date) of outstanding Revolving Loans plus Swingline Loans plus LOC Obligations plus Competitive Loans shall not exceed 50% of the Aggregate Revolving Committed Amount. Each Competitive Loan shall be not less than $5,000,000 3,000,000 in the aggregate and integral multiples of $1,000,000 in excess thereof (or the remaining portion of the Revolving Committed Amount, if less).

Competitive Loans. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, the Borrower may, during the Commitment Period, request and each Lender may, in its sole discretion, agree to make, Competitive Loans to the Borrower; provided, however, that (i) with regard to each Lender individually, the sum of such Lender's ’s share of outstanding Revolving Loans plus such Lender's ’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Lender's ’s LOC Commitment Percentage of outstanding LOC Obligations shall not exceed such Lender's ’s Revolving Committed Amount, (ii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations plus outstanding Competitive Loans shall not exceed the Aggregate Revolving Committed Amount and (iii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Competitive Loans shall not exceed 50% of the Aggregate Revolving Committed Amount. Each Competitive Loan shall be not less than $5,000,000 in the aggregate and integral multiples of $1,000,000 in excess thereof (or the remaining portion of the Revolving Committed Amount, if less).

Competitive Loans. Subject to the terms and conditions ----------------- hereof and in reliance upon the representations and warranties set forth herein, the Borrower may, during the Commitment Period, request and each Lender may, in its sole discretion, agree to make, Competitive Loans to the Borrower; provided, however, that (i) with -------- ------- regard to each Lender individually, the sum of such Lender's share of outstanding Revolving Loans plus such Lender's Revolving ---- Commitment Percentage of outstanding Swingline Loans plus such Lender's LOC ---- Commitment Percentage of outstanding LOC Obligations shall not exceed such Lender's Revolving Commitment Percentage of the aggregate Revolving Committed Amount, Amount and (ii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Revolving Loans plus outstanding ---- Swingline Loans plus outstanding LOC Obligations plus outstanding Competitive Loans shall ---- ---- not exceed the Aggregate Revolving Committed Amount and (iii) with regard to the Lenders collectively, the sum of the aggregate amount of outstanding Competitive Loans shall not exceed 50% of the Aggregate Revolving Committed Amount. Each Competitive Loan shall be not less than $5,000,000 in the aggregate and integral multiples of $1,000,000 in excess thereof (or the remaining portion of the Revolving Committed Amount, if less).