Common use of Requesting Competitive Bids Clause in Contracts

Requesting Competitive Bids. The Borrowers may request the submission of Competitive Bids by delivering a Bid Request to the Competitive Bid Agent and the Administrative Agent not later than 12:00 noon (i) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Margin Bid Loans denominated in Dollars, (ii) four Business Days prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Margin Bid Loans denominated in Available Foreign Currencies (other than Japanese yen) and (iii) five Business Days prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Margin Bid Loans denominated in Japanese yen. Each Bid Request shall specify (A) the kind of financial accommodation requested, (B) the Borrower therefor, (C) the requested date of the Bid Borrowing (which shall be a Business Day), (D) the aggregate principal amount of Competitive Revolving Loans requested (which must be in the amount of ten million units of the Applicable Currency and integral multiples of one million units of the Applicable Currency in excess thereof), (E) the Type of Competitive Revolving Loans requested, (F) the currency of the requested Competitive Revolving Loan, and (G) the duration of the Interest Period with respect thereto, and shall be signed by a Responsible Officer or duly authorized signatory of the applicable Borrower. No Bid Request shall contain a request for (1) more than one Type of Competitive Revolving Loan, (2) Competitive Revolving Loans denominated in more than one currency or (3) Competitive Revolving Loans having more than three different Interest Periods. Bid Requests may be grouped and submitted together, but not more frequently than twice in any calendar week. Each such submission may contain up to five separate Bid Requests. Unless the Competitive Bid Agent otherwise agrees in its sole and absolute discretion, the Borrowers may not submit a Bid Request if another Bid Request has been submitted within the preceding five Business Days.

Requesting Competitive Bids. The Borrowers may To request Competitive Bids, the submission of requesting Borrower shall hand deliver or telecopy to the Administrative Agent a duly completed Competitive Bids by delivering a Bid Request in the form of Exhibit C-1 hereto, to be received by the Administrative Agent, (i) in the case of a Competitive Loan to be denominated in Dollars and any Competitive Letter of Credit to be denominated in Dollars, not later than 1:00 p.m. four Business Days before the proposed date of such Competitive Loan or the issuance of such Competitive Letter of Credit and (ii) in the case of a Competitive Loan to be denominated in Foreign Currency or any Competitive Letter of Credit to be denominated in Foreign Currency, not later than 12:00 p.m. London, England time, each four Business Days before the proposed date of such Competitive Loan or the issuance of such Competitive Letter of Credit. A Competitive Bid Agent Request that does not conform substantially to Exhibit C-1 may be rejected in the Administrative Agent’s sole discretion, and the Administrative Agent not later than 12:00 noon (i) three Business Days prior to shall promptly notify ACS and the requested date requesting Borrower of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Margin Bid Loans denominated in Dollars, (ii) four Business Days prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Margin Bid Loans denominated in Available Foreign Currencies (other than Japanese yen) and (iii) five Business Days prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Margin Bid Loans denominated in Japanese yensuch rejection by telecopy. Each Competitive Bid Request shall specify the following information in compliance with Section 2.3: (i) whether the requested Competitive Bid is for a Competitive Loan or a Competitive Letter of Credit; (ii) the amount of the requested Competitive Loan (which shall be a minimum of $10,000,000 and an integral multiple of $1,000,000) or the stated amount of the requested Competitive Letter of Credit; (iii) the currency of the requested Competitive Loan or Competitive Letter of Credit (which can be Dollars or a Foreign Currency); (iv) the date of such Competitive Loan or the issuance of such Competitive Letter of Credit, which shall be a Business Day; (v) if the request is for a Competitive Loan, whether such Competitive Loan is to be a Eurocurrency Rate Competitive Loan or a Fixed Rate Loan and the proposed maturity date and repayment terms of such Competitive Loan; (vi) if the request is for a Eurocurrency Rate Competitive Loan, the Interest Period to be applicable to such Eurocurrency Rate Competitive Loan; (vii) if the request is for the issuance of a Competitive Letter of Credit, (A) the kind of financial accommodation requested, (B) the Borrower therefor, (C) the requested proposed issuance date of the Bid Borrowing requested Competitive Letter of Credit (which shall be a Business Day), ; (B) the expiry date thereof; (C) the name and address of the beneficiary thereof; (D) the aggregate principal amount documents to be presented by such beneficiary in case of Competitive Revolving Loans requested (which must be in the amount of ten million units of the Applicable Currency and integral multiples of one million units of the Applicable Currency in excess thereof), any drawing thereunder; (E) the Type of Competitive Revolving Loans requestedaccount party thereunder, which must be the Requesting Borrower or a Subsidiary thereof; and (F) the currency full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (viii) if the request is for a Competitive Loan, the location and number of the requested Competitive Revolving Loan, and account of the requesting Borrower to which funds are to be disbursed; (Gix) the duration Facility under which the Competitive Loan or Competitive Letter of Credit is to be deemed as usage for purposes of the Interest Period with respect thereto, and shall be signed by a Responsible Officer or duly authorized signatory of availability under such Facility; and (x) the applicable Borrower. No If no election as to the currency of a Competitive Loan or Competitive Letter of Credit is specified in any Competitive Bid Request, then the applicable Borrower shall be deemed to have requested a Competitive Loan or Competitive Letter of Credit, as applicable, in Dollars. If the requesting Borrower fails to indicate the Facility as set forth in clause (ix) above, the Competitive Loan or Competitive Letter of Credit, as applicable, shall be deemed usage under the Primary Currency Facility unless fully borrowed, in which case usage shall be allocable to the Multi-Currency Facility. Promptly following receipt of a Competitive Bid Request shall contain a request for (1) more than one Type of Competitive Revolving Loan, (2) Competitive Revolving Loans denominated in more than one currency or (3) Competitive Revolving Loans having more than three different Interest Periods. Bid Requests may be grouped and submitted together, but not more frequently than twice in any calendar week. Each such submission may contain up to five separate Bid Requests. Unless the Competitive Bid Agent otherwise agrees in its sole and absolute discretionaccordance with this Section 2.6(b), the Borrowers may not Administrative Agent shall notify the Lenders of the details thereof by telecopy, inviting the Lenders to submit a Bid Request if another Bid Request has been submitted within the preceding five Business DaysCompetitive Bids.

Requesting Competitive Bids. The Borrowers may request the submission of Competitive Bids by delivering a Bid Request to the Competitive Bid Agent and the Administrative Agent not later than 12:00 noon (i) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Fixed LIBOR Margin Bid Loans denominated in Dollars, (ii) four Business Days prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Fixed LIBOR Margin Bid Loans denominated in Available Foreign Alternative Currencies (other than Japanese yen) Special Notice Currencies and (iii) five Business Days prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Fixed LIBOR Margin Bid Loans denominated in Japanese yenSpecial Notice Currencies. Each Bid Request shall specify (A) the kind of financial accommodation requested, (B) the Borrower or Borrowers therefor, (C) the requested date of the Bid Borrowing (which shall be a Business Day), (D) the aggregate principal amount of Competitive Revolving Loans requested (which must be in the amount of ten million units of the Applicable Currency and integral multiples of one million units of the Applicable Currency in excess thereof), (E) the Type of Competitive Revolving Loans requested, (F) the currency of the requested Competitive Revolving Loan, and (G) the duration of the Interest Period with respect thereto, and shall be signed by a Responsible Officer or duly authorized signatory of the applicable Borrower. No Bid Request shall contain a request for (1) more than one Type of Competitive Revolving Loan, (2) Competitive Revolving Loans denominated in more than one currency or (3) Competitive Revolving Loans having more than three different Interest Periods. Bid Requests may be grouped and submitted together, but not more frequently than twice in any calendar week. Each such submission may contain up to five separate Bid Requests. Unless the Competitive Bid Agent otherwise agrees in its sole and absolute discretion, the Borrowers may not submit a Bid Request if another Bid Request has been submitted within the preceding five Business Days.

Requesting Competitive Bids. The Borrowers may request the submission of Competitive Bids by delivering a Bid Request to the Competitive Bid Agent and the Administrative Agent not later than 12:00 noon (i) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Margin Bid Loans denominated in Dollars, (ii) four Business Days prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Margin Bid Loans denominated in Available Foreign Currencies (other than Japanese yen) and (iii) five Business Days prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Margin Bid Loans denominated in Japanese yen. Each Bid Request shall specify (A) the kind of financial accommodation requested, (B) the Borrower or Borrowers therefor, (C) the requested date of the Bid Borrowing (which shall be a Business Day), (D) the aggregate principal amount of Competitive Revolving Loans requested (which must be in the amount of ten million units of the Applicable Currency and integral multiples of one million units of the Applicable Currency in excess thereof), (E) the Type of Competitive Revolving Loans requested, (F) the currency of the requested Competitive Revolving Loan, and (G) the duration of the Interest Period with respect thereto, and shall be signed by a Responsible Officer or duly authorized signatory of the applicable Borrower. No Bid Request shall contain a request for (1) more than one Type of Competitive Revolving Loan, (2) Competitive Revolving Loans denominated in more than one currency or (3) Competitive Revolving Loans having more than three different Interest Periods. Bid Requests may be grouped and submitted together, but not more frequently than twice in any calendar week. Each such submission may contain up to five separate Bid Requests. Unless the Competitive Bid Agent otherwise agrees in its sole and absolute discretion, the Borrowers may not submit a Bid Request if another Bid Request has been submitted within the preceding five Business Days.

Requesting Competitive Bids. The Borrowers may request the submission of Competitive Bids by delivering a Bid Request to the Competitive Bid Agent and the Administrative Agent not later than 12:00 noon (i) three Business Days prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Fixed LIBOR Margin Bid Loans denominated in Dollars, (ii) four Business Days prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Fixed LIBOR Margin Bid Loans denominated in Available Foreign Alternative Currencies (other than Japanese yen) Special Notice Currencies and (iii) five Business Days prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans or Eurocurrency Fixed LIBOR Margin Bid Loans denominated in Japanese yenSpecial Notice Currencies. Each Bid Request shall specify (A) the kind of financial accommodation requested, (B) the Borrower or Borrowers therefor, (C) the requested date of the Bid Borrowing (which shall be a Business Day), (D) the currency and aggregate principal amount of Competitive Revolving Loans requested (which must be in the amount of ten million units of the Applicable Currency and integral multiples of one million units of the Applicable Currency in excess thereof), (E) the Type of Competitive Revolving Loans requested, (F) the currency of the requested Competitive Revolving Loan, and (G) the duration of the Interest Period with respect thereto, and shall be signed by a Responsible Officer or duly authorized signatory of the applicable Borrower. No Bid Request shall contain a request for (1) more than one Type of Competitive Revolving Loan, (2) Competitive Revolving Loans denominated in more than one currency or (3) Competitive Revolving Loans having more than three different Interest Periods. Bid Requests may be grouped and submitted together, but not more frequently than twice in any calendar week. Each such submission may contain up to five separate Bid Requests. Unless the Competitive Bid Agent otherwise agrees in its sole and absolute discretion, the Borrowers may not submit a Bid Request if another Bid Request has been submitted within the preceding five Business Days.