Submission and Contents of Competitive Bid Quotes. (a) Except as otherwise provided in Section 2.3.10, each Revolving Credit Lender may, in its sole discretion, submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 and must be submitted to the Competitive Bid Agent by telecopy at its offices specified in or pursuant to Article XIV not later than (i) 10:00 a.m. (New York time) at least three Business Days prior to the proposed Borrowing Date, in the case of a Eurodollar Auction or (ii) 10:00 a.m. (New York time) on the proposed Borrowing Date, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenders, such other time and date as the Borrower and the Administrative Agent may agree); provided that, if the Administrative Agent is the Competitive Bid Agent, Competitive Bid Quotes submitted by the Administrative Agent as a Lender may only be submitted if the Administrative Agent notifies the Borrower of the terms of the offer or offers contained therein not later than 30 minutes prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by the other Revolving Credit Lenders. Subject to Articles V and IX, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent).
Appears in 9 contracts
Samples: Credit Agreement (Horton D R Inc /De/), Credit Agreement (Horton D R Inc /De/), Credit Agreement (Horton D R Inc /De/)
Submission and Contents of Competitive Bid Quotes. (ai) Except as otherwise provided in Section 2.3.10, each Revolving Credit Lender may, in its sole discretion, Each Bank may submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 subsection (d) and must be submitted to the Competitive Bid Agent by telecopy telex or facsimile transmission at its offices specified in or pursuant to Article XIV Section 9.01 not later than (ix) 10:00 a.m. 2:00 P.M. (New York City time) at least three on the fourth Euro-Dollar Business Days Day prior to the proposed Borrowing Datedate of Borrowing, in the case of a Eurodollar LIBOR Auction or (iiy) 10:00 a.m. 9:30 A.M. (New York City time) on the proposed Borrowing Datedate of Borrowing, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenderscase, such other time and or date as the Borrower Company and the Administrative Agent may agreeshall have mutually agreed and shall have notified to the Banks not later than the date of the Competitive Bid Quote Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that, if the Administrative Agent is the Competitive Bid Agent, that Competitive Bid Quotes submitted by the Administrative Agent as (or any affiliate of the Agent) in the capacity of a Lender Bank may be submitted, and may only be submitted submitted, if the Administrative Agent or such affiliate notifies the Borrower Company of the terms of the offer or offers contained therein not later than 30 (x) one hour prior to the deadline for the other Banks, in the case of a LIBOR Auction or (y) 15 minutes prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by deadline for the other Revolving Credit LendersBanks, in the case of an Absolute Rate Auction. Subject to Articles V 3 and IX6, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Company.
Appears in 4 contracts
Samples: Credit Agreement (Rockwell Collins Inc), Day Credit Agreement (Rockwell Collins Inc), Assignment and Assumption Agreement (Rockwell Collins Inc)
Submission and Contents of Competitive Bid Quotes. (a) Except as otherwise provided in Section 2.3.10, each Revolving Credit Lender may, in its sole discretion, Each Bank may submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 subsection (d) and must be submitted to the Competitive Bid Servicing Agent by telecopy at its offices specified in or pursuant to Article XIV Section 9.01 not later than (ix) 10:00 a.m. 2:00 P.M. (New York City time) at least three on the fourth Business Days Day prior to the proposed Borrowing Datedate of Borrowing, in the case of a Eurodollar LIBOR Auction or (iiy) 10:00 a.m. 9:30 A.M. (New York City time) on the proposed Borrowing Datedate of Borrowing, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenderscase, such other time and or date as the Borrower and the Administrative Servicing Agent may agreeshall have mutually agreed and shall have notified to the Banks not later than the date of the Competitive Bid Quote Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that, if the Administrative Agent is the Competitive Bid Agent, that Competitive Bid Quotes submitted by the Administrative Servicing Agent as (or any affiliate of the Servicing Agent) in the capacity of a Lender Bank may be submitted, and may only be submitted submitted, if the Administrative Servicing Agent or such affiliate notifies the Borrower of the terms of the offer or offers contained therein not later than 30 at least one hour before the deadline applicable to other Banks, in the case of a LIBOR Auction or 15 minutes prior before the deadline applicable to other Banks, in the latest time at which the relevant Competitive Bid Quotes must be submitted by the other Revolving Credit Lenderscase of an Absolute Rate Auction. Subject to Articles V 3 and IX6, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Servicing Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Borrower.
Appears in 4 contracts
Samples: Credit Agreement (Clorox Co /De/), Credit Agreement (Clorox Co /De/), Credit Agreement (Clorox Co /De/)
Submission and Contents of Competitive Bid Quotes. (ai) Except as otherwise provided in Section 2.3.10, each Revolving Credit Lender may, in its sole discretion, Each Bank may submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 2.03(d) and must be submitted to the Competitive Bid Administrative Agent by telecopy telex or facsimile at its offices address specified in or pursuant to Article XIV Section 9.01 not later than (ix) 10:00 a.m. 2:00 P.M. (New York City time) at least three on the fourth Euro-Dollar Business Days prior to Day before the proposed Borrowing Datedate of Borrowing, in the case of a Eurodollar LIBOR Auction or (iiy) 10:00 a.m. 9:30 A.M. (New York City time) on the proposed Borrowing Datedate of Borrowing, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenderscase, such other time and or date as the Borrower and the Administrative Agent may agreeshall have mutually agreed and shall have notified the Banks not later than the date of the Competitive Bid Quote Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that, if the Administrative Agent is the Competitive Bid Agent, that Competitive Bid Quotes submitted by the Administrative Agent as (or any affiliate of the Administrative Agent) in the capacity of a Lender Bank may be submitted, and may only be submitted submitted, if the Administrative Agent or such affiliate notifies the Borrower of the terms of the offer or offers contained therein not later than 30 minutes prior to (x) one hour before the latest time at which the relevant Competitive Bid Quotes must be submitted by deadline for the other Revolving Credit LendersBanks, in the case of a LIBOR Auction or (y) 15 minutes before the deadline for the other Banks, in the case of an Absolute Rate Auction. Subject to Articles V 3 and IX6, any Competitive Bid Quote so made shall not be irrevocable revocable except with the written consent of the Competitive Bid Administrative Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Borrower.
Appears in 3 contracts
Samples: Credit Agreement (Consolidated Edison Inc), Agreement (Consolidated Edison Inc), Credit Agreement (Consolidated Edison Inc)
Submission and Contents of Competitive Bid Quotes. (ai) Except as otherwise provided in Section 2.3.10, each Revolving Credit Lender may, in its sole discretion, Each Bank may submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 subsection (d) and must be submitted to the Competitive Bid Administrative Agent by telecopy telex or facsimile transmission at its offices specified in or pursuant to Article XIV Section 9.01 not later than (ix) 10:00 a.m. 2:00 P.M. (New York City time) at least three on the fourth Euro-Dollar Business Days Day prior to the proposed Borrowing Datedate of Borrowing, in the case of a Eurodollar LIBOR Auction or (iiy) 10:00 a.m. 9:30 A.M. (New York City time) on the proposed Borrowing Datedate of Borrowing, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenderscase, such other time and or date as the Borrower Company and the Administrative Agent may agreeshall have mutually agreed and shall have notified to the Banks not later than the date of the Competitive Bid Quote Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that, if the Administrative Agent is the Competitive Bid Agent, that Competitive Bid Quotes submitted by the Administrative Agent as (or any affiliate of the Administrative Agent) in the capacity of a Lender Bank may be submitted, and may only be submitted submitted, if the Administrative Agent or such affiliate notifies the Borrower Company of the terms of the offer or offers contained therein not later than 30 (x) one hour prior to the deadline for the other Banks, in the case of a LIBOR Auction or (y) 15 minutes prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by deadline for the other Revolving Credit LendersBanks, in the case of an Absolute Rate Auction. Subject to Articles V 3 and IX6, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Administrative Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Company.
Appears in 3 contracts
Samples: Credit Agreement (Rockwell Automation Inc), Day Credit Agreement (Rockwell Automation Inc), Day Credit Agreement (Rockwell Automation Inc)
Submission and Contents of Competitive Bid Quotes. (ai) Except as otherwise provided in Section 2.3.10, each Revolving Credit Lender may, in its sole discretion, Each Bank may submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 subsection (d) and must be submitted to the Competitive Bid Administrative Agent by telecopy telex or facsimile transmission at its offices specified in or pursuant to Article XIV Section 9.01 not later than (ix) 10:00 a.m. 2:00 P.M. (New York City time) at least three on the fourth Euro-Dollar Business Days Day prior to the proposed Borrowing Datedate of Borrowing, in the case of a Eurodollar LIBOR Auction or (iiy) 10:00 a.m. 9:30 A.M. (New York City time) on the proposed Borrowing Datedate of Borrowing, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenderscase, such other time and or date as the Borrower and the Administrative Agent may agreeshall have mutually agreed and shall have notified to the Banks not later than the date of the Competitive Bid Quote Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that, if the Administrative Agent is the Competitive Bid Agent, that Competitive Bid Quotes submitted by the Administrative Agent as (or any affiliate of the Administrative Agent) in the capacity of a Lender Bank may be submitted, and may only be submitted submitted, if the Administrative Agent or such affiliate notifies the Borrower of the terms of the offer or offers contained therein not later than 30 (x) one hour prior to the deadline for the other Banks, in the case of a LIBOR Auction or (y) 15 minutes prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by deadline for the other Revolving Credit LendersBanks, in the case of an Absolute Rate Auction. Subject to Articles V 3 and IX6, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Administrative Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Borrower.
Appears in 3 contracts
Samples: Credit Agreement (Pacificorp /Or/), Credit Agreement (Textron Financial Corp), Day Credit Agreement (Textron Financial Corp)
Submission and Contents of Competitive Bid Quotes. (ai) Except as otherwise provided in Section 2.3.10, each Revolving Credit Each Lender may, in its sole discretion, may submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 2.03(d) and must be submitted to the Competitive Bid Administrative Agent by telecopy telex or facsimile transmission at its offices specified in or pursuant to Article XIV Section 9.02 not later than (ix) 10:00 a.m. 2:00 P.M. (New York City time) at least three on the fourth Euro-Dollar Business Days Day prior to the proposed Borrowing Datedate of Borrowing, in the case of a Eurodollar LIBOR Auction or (iiy) 10:00 a.m. 9:30 A.M. (New York City time) on the proposed Borrowing Datedate of Borrowing, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenderscase, such other time and or date as the Borrower and the Administrative Agent may agreeshall have mutually agreed and shall have notified to the Lenders not later than the date of the Competitive Bid Quote Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that, if the Administrative Agent is the Competitive Bid Agent, that Competitive Bid Quotes submitted by the Administrative Agent as (or any affiliate of the Administrative Agent) in the capacity of a Lender may be submitted, and may only be submitted submitted, if the Administrative Agent or such affiliate notifies the Borrower of the terms of the offer or offers contained therein not later than 30 (x) one hour prior to the deadline for the other Lenders, in the case of a LIBOR Auction or (y) 15 minutes prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by deadline for the other Revolving Credit Lenders, in the case of an Absolute Rate Auction. Subject to Articles V Article 3 and IX6, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Administrative Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Borrower.
Appears in 2 contracts
Samples: Credit Agreement (Martin Marietta Materials Inc), Credit Agreement (Martin Marietta Materials Inc)
Submission and Contents of Competitive Bid Quotes. (ai) Except as otherwise provided in Section 2.3.10, each Revolving Credit Each Lender may, in its sole discretion, submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid QuotesQuotes (each such offer, an “Offer”). Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 2.4(d) and must be submitted to the Competitive Bid Administrative Agent by telex or telecopy or electronic mail at its offices specified in or pursuant to Article XIV not later than (ia) 10:00 a.m. (New York Cleveland time) at least three Business Banking Days prior to the proposed Borrowing Date, in the case of a Eurodollar Auction request for a Competitive LIBOR Margin or (iib) 10:00 a.m. (New York Cleveland time) on the proposed Borrowing Date, in the case of a request for an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenders, such other time and date rate as the Borrower and the Administrative Agent may agree); provided that, if the Administrative Agent is the Competitive Bid Agent, that Competitive Bid Quotes submitted by the Administrative Agent as a Lender may only be submitted if the Administrative Agent notifies the Borrower of the terms of the offer Offer or offers Offers contained therein not no later than 30 60 minutes prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by the other Revolving Credit Lenders. Subject to Articles V and IXthe Borrower’s compliance with all other conditions to disbursement herein, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Administrative Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Borrower.
Appears in 2 contracts
Samples: Unsecured Credit Agreement (BioMed Realty L P), Unsecured Credit Agreement (BioMed Realty L P)
Submission and Contents of Competitive Bid Quotes. (a) Except as otherwise provided in Section 2.3.10, each Revolving Credit Lender may, in its sole discretion, submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 and must be submitted to the Competitive Bid Agent by telecopy at its offices specified in or pursuant to Article XIV not later than (i) 10:00 a.m. (New York time) at least three Business Days prior to the proposed Borrowing Date, in the case of a Eurodollar Auction or (ii) 10:00 a.m. (New York time) on the proposed Borrowing Date, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenders, such other time and date as the Borrower and the Administrative Agent may agree); provided that, if the Administrative Agent is the Competitive Bid Agent, Competitive Bid Quotes submitted by the Administrative Agent as a Lender may only be submitted if the Administrative Agent notifies the Borrower of the terms of the offer or offers contained therein not later than 30 minutes prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by the other Revolving Credit Lenders. Subject to Articles V and IX, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Competi- tive Bid Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent).
Appears in 1 contract
Samples: Credit Agreement (Toll Brothers Inc)
Submission and Contents of Competitive Bid Quotes. (a) Except as otherwise provided in Section 2.3.10, each Revolving Credit Lender may, in its sole discretion, submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 and must be submitted to the Competitive Bid Agent by telecopy at its offices specified in or pursuant to Article XIV not later than (i) 10:00 a.m. (New York time) at least three U.S. Government Securities Business Days prior to the proposed Borrowing Date, in the case of a Eurodollar Term SOFR Auction or (ii) 10:00 a.m. (New York time) on the proposed Borrowing Date, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenders, such other time and date as the Borrower and the Administrative Agent may agree); provided that, if the Administrative Agent is the Competitive Bid Agent, Competitive Bid Quotes submitted by the Administrative Agent as a Lender may only be submitted if the Administrative Agent notifies the Borrower of the terms of the offer or offers contained therein not later than 30 minutes prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by the other Revolving Credit Lenders. Subject to Articles V and IX, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent).
Appears in 1 contract
Submission and Contents of Competitive Bid Quotes. (a) Except as otherwise provided in Each Bank receiving notice of a Competitive Bid Quote Request from the Administrative Agent pursuant to Section 2.3.10, each Revolving Credit Lender 3.03 may, in its sole discretion, submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans Advances in response to any Invitation for such Competitive Bid QuotesQuote Request. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 3.04 and must be submitted to the Competitive Bid Administrative Agent by telex or telecopy at its offices specified in or pursuant to Article XIV Section 11.02 not later than (ix) 10:00 a.m. 1:00 p.m. (New York Chicago time) at least three Business Days prior to the proposed Borrowing Date, in the case of a Eurodollar Eurocurrency Auction or a EURIBOR Auction or (iiy) 10:00 9:00 a.m. (New York Chicago time) on the proposed Borrowing Date, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit LendersBanks, such other time and date as the Borrower and the Administrative Agent may agree); provided thatthat Competitive Bid Quotes submitted by JPMorgan Chase may be submitted, and may only be submitted, if the Administrative Agent is the Competitive Bid Agent, Competitive Bid Quotes submitted by the Administrative Agent as a Lender may only be submitted if the Administrative Agent or JPMorgan Chase notifies the Borrower of the terms of the offer or offers contained therein not later than 30 (x) one hour prior to the time all other Banks are required hereunder to submit Competitive Bid Quotes to the Administrative Agent, in the case of a Eurocurrency Auction or a EURIBOR Auction or (y) fifteen minutes prior to the latest time at which the relevant all other Banks are required hereunder to submit Competitive Bid Quotes must be submitted by to the other Revolving Credit LendersAdministrative Agent, in the case of an Absolute Rate Auction. Subject to Articles V VI and IX, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Administrative Agent given on and the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Borrower.
Appears in 1 contract
Submission and Contents of Competitive Bid Quotes. (a) Except as otherwise provided in Each Bank receiving notice of a Competitive Bid Quote Request from the Administrative Agent pursuant to Section 2.3.10, each Revolving Credit Lender 3.03 may, in its sole discretion, submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans Advances in response to any Invitation for such Competitive Bid QuotesQuote Request. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 3.04 and must be submitted to the Competitive Bid Administrative Agent by telex or telecopy at its offices specified in or pursuant to Article XIV Section 11.02 not later than (ix) 10:00 a.m. 1:00 p.m. (New York timeLocal Time) at least three (3) Business Days prior to the proposed Borrowing Date, in the case of a Eurodollar Eurocurrency Auction or a EURIBOR Auction or (iiy) 10:00 9:00 a.m. (New York Chicago time) on the proposed Borrowing Date, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit LendersBanks, such other time and date as the Borrower and the Administrative Agent may agree); provided thatthat Competitive Bid Quotes submitted by JPMorgan Chase may be submitted, and may only be submitted, if the Administrative Agent is the Competitive Bid Agent, Competitive Bid Quotes submitted by the Administrative Agent as a Lender may only be submitted if the Administrative Agent or JPMorgan Chase notifies the Borrower of the terms of the offer or offers contained therein not later than 30 (x) one hour prior to the time all other Banks are required hereunder to submit Competitive Bid Quotes to the Administrative Agent, in the case of a Eurocurrency Auction or a EURIBOR Auction or (y) fifteen minutes prior to the latest time at which the relevant all other Banks are required hereunder to submit Competitive Bid Quotes must be submitted by to the other Revolving Credit LendersAdministrative Agent, in the case of an Absolute Rate Auction. Subject to Articles V VI and IX, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Administrative Agent given on and the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Borrower.
Appears in 1 contract
Submission and Contents of Competitive Bid Quotes. (a) Except as otherwise provided in Section 2.3.10, each Each Revolving Credit Lender may, in its sole discretionbut shall be under no obligation to, submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid QuotesQuote Request. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 §2A.5 and must be submitted to the Competitive Bid Administrative Agent by telecopy telex or facsimile transmission at its offices as specified in or pursuant to Article XIV §19 not later than (i) 10:00 a.m. (New York City time) at least three on the third LIBOR Business Days Day prior to the proposed Borrowing Drawdown Date, in the case of a Eurodollar Auction LIBOR Competitive Bid Loan or (ii) 10:00 a.m. (New York City time) on the proposed Borrowing Drawdown Date, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenders, such other time and date as the Borrower and the Administrative Agent may agree); provided that, if the Administrative Agent is the Competitive Bid AgentLoan, provided that Competitive Bid Quotes may be submitted by the Administrative Agent in its capacity as a Revolving Credit Lender may only be submitted if the Administrative Agent notifies it submits its Competitive Bid Quote to the Borrower of the terms of the offer or offers contained therein not later than 30 minutes (x) one hour prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by deadline for the other Revolving Credit Lenders, in the case of a LIBOR Competitive Bid Loan or (y) 15 minutes prior to the deadline for the other Revolving Credit Lenders, in the case of an Absolute Competitive Bid Loan. Subject to Articles V the provisions of §§10 and IX11 hereof, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Administrative Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Borrower.
Appears in 1 contract
Submission and Contents of Competitive Bid Quotes. (a) Except as otherwise provided in Each Bank receiving notice of a Competitive Bid Quote Request from the Administrative Agent pursuant to Section 2.3.10, each Revolving Credit Lender 3.03 may, in its sole discretion, submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans Advances in response to any Invitation for such Competitive Bid QuotesQuote Request. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 3.04 and must be submitted to the Competitive Bid Administrative Agent by telex or telecopy at its offices specified in or pursuant to Article XIV Section 11.02 not later than (ix) 10:00 a.m. 1:00 p.m. (New York Chicago time) at least three Business Days prior to the proposed Borrowing Date, in the case of a Eurodollar Eurocurrency Auction or a EURIBOR Auction or (iiy) 10:00 9:00 a.m. (New York Chicago time) on the proposed Borrowing Date, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit LendersBanks, such other time and date as the Borrower and the Administrative Agent may agree); provided thatthat Competitive Bid Quotes submitted by Bank One may be submitted, and may only be submitted, if the Administrative Agent is the Competitive Bid Agent, Competitive Bid Quotes submitted by the Administrative Agent as a Lender may only be submitted if the Administrative Agent or Bank One notifies the Borrower of the terms of the offer or offers contained therein not later than 30 (x) one hour prior to the time all other Banks are required hereunder to submit Competitive Bid Quotes to the Administrative Agent, in the case of a Eurocurrency Auction or a EURIBOR Auction or (y) fifteen minutes prior to the latest time at which the relevant all other Banks are required hereunder to submit Competitive Bid Quotes must be submitted by to the other Revolving Credit LendersAdministrative Agent, in the case of an Absolute Rate Auction. Subject to Articles V VI and IX, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Administrative Agent given on and the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Borrower.
Appears in 1 contract
Submission and Contents of Competitive Bid Quotes. (ai) Except as otherwise provided in Section 2.3.10, each Revolving Credit Each Lender may, in its sole discretion, may submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 2.03(d) and must be submitted to the Competitive Bid Administrative Agent by telecopy facsimile or other electronic transmission at its offices specified in or pursuant to Article XIV Section 9.02 not later than (ix) 10:00 a.m. 2:00 p.m. (New York City time) at least three on the fourth Euro-Dollar Business Days Day prior to the proposed Borrowing Datedate of Borrowing, in the case of a Eurodollar LIBOR Auction or (iiy) 10:00 9:30 a.m. (New York City time) on the proposed Borrowing Datedate of Borrowing, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenderscase, such other time and or date as the Borrower and the Administrative Agent may agreeshall have mutually agreed and shall have notified the Lenders not later than the date of the Competitive Bid Quote Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that, if the Administrative Agent is the Competitive Bid Agent, that Competitive Bid Quotes submitted by the Administrative Agent as (or any affiliate of the Administrative Agent) in the capacity of a Lender may be submitted, and may only be submitted submitted, if the Administrative Agent or such affiliate notifies the Borrower of the terms of the offer or offers contained therein not later than 30 (x) one hour prior to the deadline for the other Lenders, in the case of a LIBOR Auction or (y) 15 minutes prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by deadline for the other Revolving Credit Lenders, in the case of an Absolute Rate Auction. Subject to Articles V Article 3 and IX6, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Administrative Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Borrower.
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Submission and Contents of Competitive Bid Quotes. (ai) Except as otherwise provided in Section 2.3.10, each Revolving Credit Lender may, in its sole discretion, Each Bank may submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 subsection (d) and must be submitted to the Competitive Bid Administrative Agent by telecopy telex or facsimile transmission at its offices specified in or pursuant to Article XIV Section 9.01 not later than (ix) 10:00 a.m. 2:00 P.M. (New York City time) at least three on the fourth Euro-Dollar Business Days Day prior to the proposed Borrowing Datedate of Borrowing, in the case of a Eurodollar LIBOR Auction or (iiy) 10:00 a.m. 9:30 A.M. (New York City time) on the proposed Borrowing Datedate of Borrowing, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenderscase, such other time and or date as the Borrower Company and the Administrative Agent may agreeshall have mutually agreed and shall have notified to the Banks not later than the date of the Competitive Bid Quote Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that, if the Administrative Agent is the Competitive Bid Agent, that Competitive Bid Quotes submitted by the Administrative Agent as (or any affiliate of the Administrative Agent) in the capacity of a Lender Bank may be submitted, and may only be submitted submitted, if the Administrative Agent or such affiliate notifies the Borrower Company of the terms of the 13 offer or offers contained therein not later than 30 (x) one hour prior to the deadline for the other Banks, in the case of a LIBOR Auction or (y) 15 minutes prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by deadline for the other Revolving Credit LendersBanks, in the case of an Absolute Rate Auction. Subject to Articles V 3 and IX6, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Administrative Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Company.
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Submission and Contents of Competitive Bid Quotes. (a) Except as otherwise provided in Each Bank receiving notice of a Competitive Bid Quote Request from the Administrative Agent pursuant to Section 2.3.10, each Revolving Credit Lender 3.03 may, in its sole discretion, submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans Advances in response to any Invitation for such Competitive Bid QuotesQuote Request. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 3.04 and must be submitted to the Competitive Bid Administrative Agent by telex or telecopy at its offices specified in or pursuant to Article XIV Section 11.02 not later than (ix) 10:00 a.m. 1:00 p.m. (New York timeLocal Time) at least three Business Days prior to the proposed Borrowing Date, in the case of a Eurodollar Eurocurrency Auction or a EURIBOR Auction or (iiy) 10:00 9:00 a.m. (New York Chicago time) on the proposed Borrowing Date, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit LendersBanks, such other time and date as the Borrower and the Administrative Agent may agree); provided thatthat Competitive Bid Quotes submitted by JPMorgan Chase may be submitted, and may only be submitted, if the Administrative Agent is the Competitive Bid Agent, Competitive Bid Quotes submitted by the Administrative Agent as a Lender may only be submitted if the Administrative Agent or JPMorgan Chase notifies the Borrower of the terms of the offer or offers contained therein not later than 30 (x) one hour prior to the time all other Banks are required hereunder to submit Competitive Bid Quotes to the Administrative Agent, in the case of a Eurocurrency Auction or a EURIBOR Auction or (y) fifteen minutes prior to the latest time at which the relevant all other Banks are required hereunder to submit Competitive Bid Quotes must be submitted by to the other Revolving Credit LendersAdministrative Agent, in the case of an Absolute Rate Auction. Subject to Articles V VI and IX, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Administrative Agent given on and the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Borrower.
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Submission and Contents of Competitive Bid Quotes. (ai) Except as otherwise provided in Section 2.3.10, each Revolving Credit Each Lender may, in its sole discretion, may submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 subsection (d) and must be submitted to the Competitive Bid Agent by telecopy telex or facsimile transmission at its offices specified in or pursuant to Article XIV Section 9.01 not later than (ix) 10:00 a.m. 2:00 p.m. (New York City time) at least three on the fourth Euro-Dollar Business Days Day prior to the proposed Borrowing Datedate of Borrowing, in the case of a Eurodollar LIBOR Auction or (iiy) 10:00 9:30 a.m. (New York City time) on the proposed Borrowing Datedate of Borrowing, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenderscase, such other time and or date as the Borrower Company and the Administrative Agent may agreeshall have mutually agreed and shall have notified to the Lenders not later than the date of the Competitive Bid Quote Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that, if the Administrative Agent is the Competitive Bid Agent, that Competitive Bid Quotes submitted by the Administrative Agent as (or any affiliate of the Agent) in the capacity of a Lender may be submitted, and may only be submitted submitted, if the Administrative Agent or such affiliate notifies the Borrower Company of the terms of the offer or offers contained therein not later than 30 (x) one hour prior to the deadline for the other Lenders, in the case of a LIBOR Auction or (y) 15 minutes prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by deadline for the other Revolving Credit Lenders, in the case of an Absolute Rate Auction. Subject to Articles V 3 and IX6, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Company.
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Submission and Contents of Competitive Bid Quotes. (a) Except as otherwise provided in Section 2.3.10, each Each Revolving Credit Lender may, in its sole discretion, submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 and must be submitted to the Competitive Bid Agent by telecopy at its offices specified in or pursuant to Article XIV not later than (i) 10:00 a.m. (New York time) at least three Business Days prior to the proposed Borrowing Date, in the case of a Eurodollar Auction or (ii) 10:00 a.m. (New York time) on the proposed Borrowing Date, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenders, such other time and date as the Borrower and the Administrative Agent may agree); provided that, if the Administrative Agent is the Competitive Bid Agent, Competitive Bid Quotes submitted by the Administrative Agent as a Lender may only be submitted if the Administrative Agent notifies the Borrower of the terms of the offer or offers contained therein not later than 30 minutes prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by the other Revolving Credit Lenders. Subject to Articles V and IX, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent).
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Submission and Contents of Competitive Bid Quotes. (ai) Except as otherwise provided in Section 2.3.10, each Revolving Credit Lender may, in its sole discretion, Each Bank may submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 subsection (d) and must be submitted to the Competitive Bid Agent by telecopy telex or facsimile transmission at its offices specified referred to in or pursuant to Article XIV Section 11.01 not later than (ix) 10:00 a.m. 2:00 P.M. (New York City time) at least three on the fourth Euro-Dollar Business Days Day prior to the proposed Borrowing Datedate of Borrowing, in the case of a Eurodollar LIBOR Auction or (iiy) 10:00 a.m. 9:30 A.M. (New York City time) on the proposed Borrowing Datedate of Borrowing, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenderscase, such other time and or date as the Borrower Company and the Administrative Agent may agreeshall have mutually agreed and the Agent shall have notified to the Banks not later than the date of the Competitive Bid Quote Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that, if the Administrative Agent is the Competitive Bid Agent, that Competitive Bid Quotes submitted by the Administrative Agent as (or any affiliate of the Agent) in the capacity of a Lender Bank may be submitted, and may only be submitted submitted, if the Administrative Agent or such affiliate notifies the Borrower of the terms of the offer or offers contained therein not later than 30 (x) one hour prior to the deadline for the other Banks, in the case of a LIBOR Auction or (y) 15 minutes prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by deadline for the other Revolving Credit LendersBanks, in the case of an Absolute Rate Auction. Subject to Articles V 3 and IX4, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)Borrower.
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Samples: Credit Agreement (Gillette Co)
Submission and Contents of Competitive Bid Quotes. (ai) Except as otherwise provided in Section 2.3.10, each Revolving Credit Each Lender may, in its sole discretion, may submit a Competitive Bid Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 subsection (d) and must be submitted to the Competitive Bid Administrative Agent by telecopy telex or facsimile transmission at its offices specified in or pursuant to Article XIV Section 10.01 not later than (ix) 10:00 a.m. 9:30 A.M. (New York City time) at least three on the third Euro-Dollar Business Days Day prior to the proposed Borrowing Datedate of Borrowing, in the case of a Eurodollar LIBOR Auction or (iiy) 10:00 a.m. 9:30 A.M. (New York City time) on the proposed Borrowing Datedate of Borrowing, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Revolving Credit Lenderscase, such other time and or date as the applicable Borrower and the Administrative Agent may agreeshall have mutually agreed and shall have notified to the Lenders not later than the date of the Competitive Bid Quote Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that, if the Administrative Agent is the Competitive Bid Agent, that Competitive Bid Quotes submitted by the Administrative Agent as (or any affiliate of the Administrative Agent) in the capacity of a Lender may be submitted, and may only be submitted submitted, if the Administrative Agent or such affiliate notifies the Borrower of the terms of the offer or offers contained therein not later than 30 (x) one hour prior to the deadline for the other Lenders, in the case of a LIBOR Auction or (y) 15 minutes prior to the latest time at which the relevant Competitive Bid Quotes must be submitted by deadline for the other Revolving Credit Lenders, in the case of an Absolute Rate Auction. Subject to Articles V 3 and IX6, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Competitive Bid Administrative Agent given on the instructions of the Borrower (if the Borrower is not the Competitive Bid Agent)applicable Borrower.
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