Common use of Reply Procedures Clause in Contracts

Reply Procedures. In connection with any Auction, each Term B-2 Lender may, in its sole discretion, participate in such Auction by providing the Administrative Agent with a notice of participation (the “Return Bid”) which shall be in a form reasonably acceptable to the Administrative Agent and shall specify (i) a discount to par that must be expressed as a price (the “Reply Discount”), which must be within the Discount Range, and (ii) a principal amount of the portion of the Term B-2 Loan such Term B-2 Lender is willing to sell, which must be in increments of $1,000,000 or in an amount equal to such Lender’s entire remaining amount of its portion of the Term B-2 Loan (the “Reply Amount”). The Term B-2 Lenders may only submit one Return Bid per Auction. In addition to the Return Bid, each Term B-2 Lender wishing to participate in such Auction must execute and deliver, to be held in escrow by the Administrative Agent, an assignment and acceptance agreement in a form reasonably acceptable to the Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Global Payments Inc), Credit Agreement (Global Payments Inc)

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Reply Procedures. In connection with any Auction, each Term B-2 applicable Lender may, in its sole discretion, participate in such Auction by providing the Administrative Agent with a notice of participation (the “Return Bid”) which shall be in a form reasonably acceptable to the Administrative Agent and shall specify (i) a discount to par that must be expressed as a price (the “Reply Discount”), which must be within the Discount Range, and (ii) a principal amount of the portion of the Term B-2 Loan US-DOCS\90330440.2103232196.9 applicable Loans such Term B-2 Lender is willing to sell, which must be in increments of $1,000,000 2,000,000 or in an amount equal to such Lender’s entire remaining amount of its portion of the Term B-2 Loan applicable Loans (the “Reply Amount”). The Term B-2 Lenders may only submit one Return Bid per Auction. In addition to the Return Bid, each Term B-2 Lender wishing to participate in such Auction must execute and deliver, to be held in escrow by the Administrative Agent, an assignment and acceptance agreement in a form reasonably acceptable to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Axalta Coating Systems Ltd.)

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Reply Procedures. In connection with any Auction, each Term B-2 Lender may, in its sole discretion, participate in such Auction by providing the and may provide Administrative Agent with a notice of participation (the “Return Bid”) which shall be in a form reasonably acceptable to the Administrative Agent and shall specify (i) a discount to par that must be expressed as a price (the “Reply Discount”), which must be within the Discount Range, and (ii) a principal amount of the portion of the Term B-2 Loan such Term B-2 Lender is willing to sell, Loans which must be in increments of $1,000,000 or in an amount equal to such Lender’s entire remaining amount of its portion of the Term B-2 Loan (the “Reply Amount”). The Term B-2 A Lender may avoid the minimum increment amount condition solely when submitting a Reply Amount equal to the Lender’s entire remaining amount of the applicable Loans. Lenders may only submit one Return Bid per Auction. In addition to the Return Bid, each Term B-2 the participating Lender wishing to participate in such Auction must execute and deliver, to be held in escrow by the Administrative Agent, an assignment and acceptance agreement in a form reasonably acceptable to the Administrative Agentof Assignment.

Appears in 1 contract

Samples: Credit Agreement (Axiall Corp/De/)

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