Common use of Requesting Competitive Bids Clause in Contracts

Requesting Competitive Bids. As long as the Borrower maintains a Debt Rating of not less than Baa3 from Xxxxx’x and BBB- from S&P, the Borrower may request the submission of Competitive Bids by delivering a Bid Request and an auction fee of $2,500 to the Administrative Agent not later than 1 p.m. (i) one Business Day prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, or (ii) four Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurodollar Margin Bid Loans. Each Bid Request shall specify (i) the requested date of the Bid Borrowing (which shall be a Business Day), (ii) the aggregate principal amount of Bid Loans requested (which must be $3,000,000 or a whole multiple of $1,000,000 in excess thereof), (iii) the Type of Bid Loans requested, and (iv) the duration of the Interest Period with respect thereto, and shall be signed by a Responsible Officer of the Borrower. No Bid Request shall contain a request for (i) more than one Type of Bid Loan, or (ii) Bid Loans having more than three different Interest Periods. Unless the Administrative Agent otherwise agrees in its sole and absolute discretion, the Borrower may not submit a Bid Request if it has submitted another Bid Request within the prior five Business Days.

Requesting Competitive Bids. As long as the Borrower maintains a Debt Rating of not less than Baa3 from Xxxxx’x and BBB- from S&P, the Borrower The Company may request the submission of Competitive Bids by delivering a Bid Request and an auction fee of $2,500 to the Administrative Agent not later than 1 p.m. 12:00 noon (i) one Business Day prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, or (ii) four Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurodollar Eurocurrency Margin Bid LoansLoans denominated in Dollars, or (iii) four Business Days (or five Business Days in the case of Australian Dollars, New Zealand Dollars or Yen and five or six Business Days in the case of any other Special Notice Currency, as determined by the Administrative Agent and specified to the Company) prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency Margin Bid Loans denominated in Alternative Currencies. Each Bid Request shall specify (i) the requested date of the Bid Borrowing (which shall be a Business Day), (ii) the aggregate principal amount of Bid Loans requested (which must be $3,000,000 10,000,000 or a whole multiple of $1,000,000 in excess thereof), (iii) the Type of Bid Loans requested, (iv) the currency in which the requested Bid Loans are to be denominated and (ivv) the duration of the Interest Period with respect thereto, and shall be signed by a Responsible Officer of the BorrowerCompany. No Bid Request shall contain a request for (i) more than one Type of Bid Loan, Loan or (ii) Bid Loans having more than three different Interest Periods. Unless the Administrative Agent otherwise agrees in its sole and absolute discretion, the Borrower Company may not submit a Bid Request if it has submitted another Bid Request within the prior five Business Days.

Requesting Competitive Bids. As long as the Borrower maintains a Debt Rating of not less than Baa3 from Xxxxx’x and BBB- from S&P, the Borrower The Company may request the submission of Competitive Bids by delivering a Bid Request and an auction fee of $2,500 to the Administrative Agent not later than 1 p.m. 10:00 a.m. (i) one Business Day prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans in US Dollars or Base Rate Bid Loans, or (ii) four Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurodollar Eurocurrency Margin Bid LoansLoans in US Dollars, or (iii) five Business Days prior to the requested date of any Bid Borrowing in an Alternative Currency (or six Business Days in the case of any Special Notice Currency). Each Bid Request shall specify (i) the requested date of the Bid Borrowing (which shall be a Business Day), (ii) the aggregate principal amount of Bid Loans requested (which must be $3,000,000 5,000,000 or a whole multiple of $1,000,000 in excess thereof, except at initial funding), (iii) the Type of Bid Loans requested, and (iv) the duration of the Interest Period with respect thereto, and (v) whether such Bid Loan is to be advanced in an Alternative Currency and identify such Alternative Currency, and shall be signed by a Responsible Officer of the BorrowerCompany. No Bid Request shall contain a request for (i) more than one Type of Bid Loan, Loan or (ii) Bid Loans having more than three different Interest Periods. Bid Loans in an Alternative Currency may only be Absolute Rate Loans or Eurocurrency Margin Bid Loans. Unless the Administrative Agent otherwise agrees in its sole and absolute discretion, the Borrower Company may not submit a Bid Request if it has submitted another Bid Request within the prior five Business Days.

Requesting Competitive Bids. As long as the Borrower maintains a Debt Rating of not less than Baa3 from Xxxxx’x and BBB- from S&P, the Borrower The Company may request the submission of Competitive Bids by delivering a Bid Request and an auction fee of $2,500 to the Administrative Agent not later than 1 p.m. 12:00 noon (i) one Business Day prior to the requested date of any Bid Borrowing 40520117.12 that is to consist of Absolute Rate Loans, or (ii) four Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurodollar Eurocurrency Margin Bid LoansLoans denominated in Dollars or (iii) four Business Days (or five Business Days in the case of Australian Dollars or Mexican Pesos and five or six Business Days in the case of any other Special Notice Currency, as determined by the Administrative Agent and specified to the Company) prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency Margin Bid Loans denominated in Alternative Currencies. Each Bid Request shall specify (i) the requested date of the Bid Borrowing (which shall be a Business Day), (ii) the aggregate principal amount of Bid Loans requested (which must be $3,000,000 10,000,000 or a whole multiple of $1,000,000 in excess thereof), (iii) the Type of Bid Loans requested, (iv) the currency in which the requested Bid Loans are to be denominated and (ivv) the duration of the Interest Period with respect thereto, and shall be signed by a Responsible Officer of the BorrowerCompany. No Bid Request shall contain a request for (i) more than one Type of Bid Loan, Loan or (ii) Bid Loans having more than three different Interest Periods. Unless the Administrative Agent otherwise agrees in its sole and absolute discretion, the Borrower Company may not submit a Bid Request if it has submitted another Bid Request within the prior five Business Days.

Requesting Competitive Bids. As long as the Borrower maintains a Debt Rating of not less than Baa3 from Xxxxx’x and BBB- from S&P, the Borrower The Company may request the submission of Competitive Bids by delivering a Bid Request and an auction fee of $2,500 to the Administrative Agent not later than 1 p.m. 12:00 noon (i) one Business Day prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, or (ii) four Business Days prior to the requested date of any Bid Borrowing that is to consist of Eurodollar Eurocurrency Margin Bid LoansLoans denominated in Dollars, or (iii) four Business Days (or five Business Days in the case of Australian Dollars or Mexican Pesos and five or six Business Days in the case of any other Special Notice Currency, as determined by the Administrative Agent and specified to the Company) prior to the requested date of any Bid Borrowing that is to consist of Eurocurrency Margin Bid Loans denominated in Alternative Currencies. Each Bid Request shall specify (i) the requested date of the Bid Borrowing (which shall be a Business Day), (ii) the aggregate principal amount of Bid Loans requested (which must be $3,000,000 10,000,000 or a whole multiple of $1,000,000 in excess thereof), (iii) the Type of Bid Loans requested, (iv) the currency in which the requested Bid Loans are to be denominated and (ivv) the duration of the Interest Period with respect thereto, and shall be signed by a Responsible Officer of the BorrowerCompany. No Bid Request shall contain a request for (i) more than one Type of Bid Loan, Loan or (ii) Bid Loans having more than three different Interest Periods. Unless the Administrative Agent otherwise agrees in its sole and absolute discretion, the Borrower Company may not submit a Bid Request if it has submitted another Bid Request within the prior five Business Days.