Common use of Making of Competitive Bid Loans Clause in Contracts

Making of Competitive Bid Loans. In addition to Revolving Credit Loans, the Borrower may, as set forth in this Section 2.03, request the Lenders to make offers to make one or more Competitive Bid Loans to the Borrower. Each Lender may, but shall have no obligation to, make one or more such offers and, subject to the terms and provisions hereof, the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.03. Competitive Bid Loans may be Base Rate Loans, CD Rate Loans, Absolute Rate Loans or LIBOR-based Loans (each a "type" of Competitive Bid Loan) and, subject to Section 2.03(r) hereof, may be in any freely available currency agreed upon by the Borrower and each Lender. Competitive Bid Loans shall be due and payable on the earlier of the Competitive Bid Expiration Date and the applicable Competitive Bid Loan Maturity Date. After giving effect to any borrowing of Competitive Bid Loans, the Dollar Equivalent of the sum of the aggregate principal amount of all Loans outstanding hereunder and the Letter of Credit Obligations shall not exceed the Total Revolving Credit Commitment at any time; provided, however, that the outstanding Competitive Bid Loans made by any Lender may exceed its Revolving Credit Committed Amount. The Competitive Bid Loans shall be deemed to utilize the Total Revolving Credit Commitment by an amount equal to the Dollar Equivalent of the aggregate outstanding principal amount thereof. (b)

Making of Competitive Bid Loans. In addition to Revolving Credit Loans, the Borrower may, as set forth in this Section 2.03, request the Lenders to make offers to make one or more Competitive Bid Loans to the Borrower. Each Lender may, but shall have no obligation to, make one or more such offers and, subject to the terms and provisions hereof, the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.03. Competitive Bid Loans may be Base Rate Loans, CD Rate Loans, Absolute Rate Loans or LIBOR-based Loans (each a "type" of Competitive Bid Loan) and, subject to Section 2.03(r) hereof, may be in any freely available currency agreed upon by the Borrower and each Lender. Competitive Bid Loans shall be due and payable on the earlier of the Competitive Bid Expiration Date and the applicable Competitive Bid Loan Maturity Date. After giving effect to any borrowing of Competitive Bid Loans, the Dollar Equivalent of the sum of the aggregate principal amount of all Loans outstanding hereunder and the Letter of Credit Obligations shall not exceed the Total Revolving Credit Commitment at any time; provided, however, that the outstanding Competitive Bid Loans made by any 16 22 Lender may exceed its Revolving Credit Committed Amount. The Competitive Bid Loans shall be deemed to utilize the Total Revolving Credit Commitment by an amount equal to the Dollar Equivalent of the aggregate outstanding principal amount thereof. (b)

Making of Competitive Bid Loans. In addition to Revolving Credit Loans, the Borrower may, as set forth in this Section 2.03, request the Lenders to make offers to make one or more Competitive Bid Loans to the Borrower. Each Lender may, but shall have no obligation to, make one or more such offers and, subject to the terms and provisions hereof, the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.03. Competitive Bid Loans may be Base Rate Loans, CD Rate Loans, Absolute Rate Loans or LIBOR-based Loans (each a "typeTYPE" of Competitive Bid Loan) and, subject to Section 2.03(r) hereof, may be in any freely available currency agreed upon by the Borrower and each Lender. Competitive Bid Loans shall be due and payable on the earlier of the Competitive Bid Expiration Date and the applicable Competitive Bid Loan Maturity Date. After giving effect to any borrowing of Competitive Bid Loans, the Dollar Equivalent of the sum of the aggregate principal amount of all Loans outstanding hereunder and the Letter of Credit Obligations shall not exceed the Total Revolving Credit Commitment at any time; providedPROVIDED, howeverHOWEVER, that the outstanding Competitive Bid Loans made by any Lender may exceed its Revolving Credit Committed Amount. The Competitive Bid Loans shall be deemed to utilize the Total Revolving Credit Commitment by an amount equal to the Dollar Equivalent of the aggregate outstanding principal amount thereof. (b).

Making of Competitive Bid Loans. In addition to Revolving Credit Loans, the Borrower may, as set forth in this Section 2.03, request the Lenders to make offers to make one or more Competitive Bid Loans to the Borrower. Each Lender may, but shall have no obligation to, make one or more such offers and, subject to the terms and provisions hereof, the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.03. Competitive Bid Loans may be Base Rate Loans, CD Rate Loans, Absolute Rate Loans or LIBOR-based Loans (each a "typeTYPE" of Competitive Bid Loan) and, subject to Section 2.03(r) hereof, may be in any freely available currency agreed upon by the Borrower and each Lender. Competitive Bid Loans shall be due and payable on the earlier of the Competitive Bid Expiration Date and the applicable Competitive Bid Loan Maturity Date. After giving effect to any borrowing of Competitive Bid Loans, the Dollar Equivalent of the sum of the aggregate principal amount of all Loans outstanding hereunder and the Letter of Credit Obligations shall not exceed the Total Revolving Credit Commitment at any time; providedPROVIDED, howeverHOWEVER, that the outstanding Competitive Bid Loans made by any Lender may exceed its Revolving Credit Committed Amount. The Competitive Bid Loans shall be deemed to utilize the Total Revolving Credit Commitment by an amount equal to the Dollar Equivalent of the aggregate outstanding principal amount thereof. (b).

Making of Competitive Bid Loans. In addition to Revolving Credit Loans, the Borrower Company (acting on behalf of the applicable Borrower) may, as set forth in this Section 2.03, request the Lenders to make offers to make one or more Competitive Bid Loans to the each and any Borrower. Each Lender may, but shall have no obligation to, make one or more such offers and, subject to the terms and provisions hereof, the Borrower Company (acting on behalf of this applicable Borrower) may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.03. Competitive Bid Loans may be Base Rate Loans, CD Rate Loans, Absolute Rate Loans or LIBOR-based Loans (each a "typeTYPE" of Competitive Bid Loan) and, subject to Section 2.03(r) hereof, may be in any freely available currency agreed upon by the Borrower Company (acting on behalf of the applicable Borrower) and each Lender. Competitive Bid Loans shall be due and payable on the earlier of the Competitive Bid Expiration Date and the applicable Competitive Bid Loan Maturity Date. After giving effect to any borrowing of Competitive Bid Loans, the Dollar Equivalent of the sum of the aggregate principal amount of all Loans outstanding hereunder and the Letter of Credit Obligations shall not exceed the Total Revolving Credit Commitment at any time; providedPROVIDED, howeverHOWEVER, that the outstanding Competitive Bid Loans made by any Lender may exceed its Revolving Credit Committed Amount. The Competitive Bid Loans shall be deemed to utilize the Total Revolving Credit Commitment by an amount equal to the Dollar Equivalent of the aggregate outstanding principal amount thereof. (b).