Common use of Submission and Contents of Competitive Bid Quotes Clause in Contracts

Submission and Contents of Competitive Bid Quotes. (i) Each Lender may submit a quote (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 2.03(d) and must be submitted to the Administrative Agent by facsimile or other electronic transmission at its address referred to in Section 11.01 not later than (w) 10:00 A.M. (New York City time) on the date of each Borrowing denominated in Dollars in the case of an Absolute Rate Auction, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated in Dollars in the case of a Term SOFR Auction, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a Borrower and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Administrative Agent (or any Affiliate of the Administrative Agent) in the capacity of a Lender may be submitted, and may only be submitted, if the Administrative Agent or such Affiliate notifies the applicable Borrower of the terms of the offer or offers contained therein not later than (x) one hour before the deadline for the other Lenders, in the case of a Term SOFR Auction, Alternative Currency Daily Rate Auction or Alternative Currency Term Rate Auction or (y) 15 minutes before the deadline for the other Lenders, in the case of an Absolute Rate Auction. Subject to Articles 3 and 8, any Competitive Bid Quote so made shall not be revocable except with the written consent of the Administrative Agent given on the instructions of the applicable Borrower.

Appears in 3 contracts

Samples: Credit Agreement (Linde PLC), Credit Agreement (Linde PLC), Credit Agreement (Linde PLC)

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Submission and Contents of Competitive Bid Quotes. (i) Each Lender to which an Invitation for Competitive Bid Quotes is sent may submit a quote (a “Competitive Bid Quote”) 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 2.03(d) and must be submitted to the Administrative Agent by telex or facsimile or other electronic transmission at its address referred specified in or pursuant to in Section 11.01 9.01 not later than (wx) 10:00 2:00 P.M. (New York City time) on the fourth Euro-Dollar Business Day before the proposed date of Borrowing, in the case of a LIBOR Auction or (y) 9:30 A.M. (New York City time) on the proposed date of each Borrowing denominated in Dollars Borrowing, in the case of an Absolute Rate AuctionAuction (or, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated in Dollars in the case of a Term SOFR Auctioneither case, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a the Borrower and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Administrative Agent (or any Affiliate affiliate of the Administrative Agent) in the capacity of a Lender may be submitted, and may only be submitted, if the Administrative Agent or such Affiliate affiliate notifies the applicable Borrower of the terms of the offer or offers contained therein not later than (x) one hour before the deadline for the other Lenders, in the case of a Term SOFR Auction, Alternative Currency Daily Rate Auction or Alternative Currency Term Rate LIBOR Auction or (y) 15 minutes before the deadline for the other Lenders, in the case of an Absolute Rate Auction. Subject to Articles Article 3 and 86, any Competitive Bid Quote so made shall not be revocable except with the written consent of the Administrative Agent given on the instructions of the applicable Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Marathon Oil Corp), Credit Agreement (Marathon Oil Corp)

Submission and Contents of Competitive Bid Quotes. (i) Each Lender Bank may submit a quote (a “Competitive Bid Quote”) 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 2.03(dsubsection (d) and must be submitted to the Administrative Agent by telex or facsimile or other electronic transmission at its address referred offices specified in or pursuant to in Section 11.01 ‎Section 9.01 not later than (wx) 10:00 2:00 P.M. (New York City time) on the fourth Euro-Dollar Business Day prior to the proposed date of Borrowing, in the case of a LIBOR Auction or (y) 9:30 A.M. (New York City time) on the proposed date of each Borrowing denominated in Dollars Borrowing, in the case of an Absolute Rate AuctionAuction (or, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated in Dollars in the case of a Term SOFR Auctioneither case, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a Borrower the Company and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders Banks not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Administrative Agent (or any Affiliate affiliate of the Administrative Agent) in the capacity of a Lender Bank may be submitted, and may only be submitted, if the Administrative Agent or such Affiliate affiliate notifies the applicable Borrower Company of the terms of the offer or offers contained therein not later than (x) one hour before prior to the deadline for the other LendersBanks, in the case of a Term SOFR Auction, Alternative Currency Daily Rate Auction or Alternative Currency Term Rate LIBOR Auction or (y) 15 minutes before prior to the deadline for the other LendersBanks, in the case of an Absolute Rate Auction. Subject to Articles 3 ‎3 and 8‎6, any Competitive Bid Quote so made shall not be revocable irrevocable except with the written consent of the Administrative Agent given on the instructions of the applicable BorrowerCompany.

Appears in 1 contract

Samples: Credit Agreement (Rockwell Collins Inc)

Submission and Contents of Competitive Bid Quotes. (i) Each Lender may submit a quote (a “Competitive Bid Quote”) 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 2.03(dsubsection (d) and must be submitted to the Administrative Agent by telex or facsimile or other electronic transmission at its address referred offices specified in or pursuant to in Section 11.01 10.01 not later than (wx) 10:00 9:30 A.M. (New York City time)(or 9:30 A.M. (London time) in the case of an Alternative Currency Borrowing) on the third Euro-Dollar Business Day prior to the proposed date of Borrowing (or in the case of an Alternative Currency Borrowing, the third Eurocurrency Business Day), in the case of a LIBOR Auction or (y) 9:30 A.M. (New York City time) (or 9:30 A.M. (London time) in the case of an Alternative Currency Borrowing) on the proposed date of each Borrowing denominated in Dollars Borrowing, in the case of an Absolute Rate AuctionAuction (or, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated in Dollars in the case of a Term SOFR Auctioneither case, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a the applicable Borrower and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Administrative Agent (or any Affiliate affiliate of the Administrative Agent) in the capacity of a Lender may be submitted, and may only be submitted, if the Administrative Agent or such Affiliate affiliate notifies the applicable Borrower of the terms of the offer or offers contained therein not later than (x) one hour before prior to the deadline for the other Lenders, in the case of a Term SOFR Auction, Alternative Currency Daily Rate Auction or Alternative Currency Term Rate LIBOR Auction or (y) 15 minutes before prior to the deadline for the other Lenders, in the case of an Absolute Rate Auction. Subject to Articles 3 and 86, any Competitive Bid Quote so made shall not be revocable irrevocable except with the written consent of the Administrative Agent given on the instructions of the applicable Borrower.

Appears in 1 contract

Samples: Credit Agreement (Estee Lauder Companies Inc)

Submission and Contents of Competitive Bid Quotes. (i) Each Lender may submit a quote (a “Competitive Bid Quote”) 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 subsection 2.03(d) and must be submitted to the Administrative Agent by telex or facsimile or other electronic transmission at its address referred to in Section 11.01 not later than (wx) 10:00 2:00 P.M. (New York City time) on the fourth Euro-Dollar Business Day before the proposed date of Borrowing, in the case of a LIBOR Auction or (y) 9:30 A.M. (New York City time) on the proposed date of each Borrowing denominated in Dollars Borrowing, in the case of an Absolute Rate AuctionAuction (or, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated in Dollars in the case of a Term SOFR Auctioneither case, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a the Borrower and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Administrative Agent (or any Affiliate affiliate of the Administrative Agent) in the capacity of a Lender may be submitted, and may only be submitted, if the Administrative Agent or such Affiliate affiliate notifies the applicable Borrower of the terms of the offer or offers contained therein not later than (x) one hour before the deadline for the other Lenders, in the case of a Term SOFR Auction, Alternative Currency Daily Rate Auction or Alternative Currency Term Rate LIBOR Auction or (y) 15 minutes before the deadline for the other Lenders, in the case of an Absolute Rate Auction. Subject to Articles 3 and 8, any Competitive Bid Quote so made shall not be revocable except with the written consent of the Administrative Agent given on the instructions of the applicable Borrower.

Appears in 1 contract

Samples: Credit Agreement (Universal Health Services Inc)

Submission and Contents of Competitive Bid Quotes. (i) Each Lender may submit a quote (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 subsection 2.03(d) and must be submitted to the Administrative Agent by facsimile or other electronic transmission at its address referred to in Section 11.01 not later than (w) 10:00 11:00 A.M. (New York City time) on (x) the third Euro-Dollar Business Day before the proposed date of each Borrowing denominated Borrowing, in Dollars the case of a LIBOR Auction or (y) the proposed date of Borrowing, in the case of an Absolute Rate AuctionAuction (or, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated in Dollars in the case of a Term SOFR Auctioneither case, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a the Borrower and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Administrative Agent (or any Affiliate of the Administrative Agent) in the capacity of a Lender may be submitted, and may only be submitted, if the Administrative Agent or such Affiliate notifies the applicable Borrower of the terms of the offer or offers contained therein not later than (x) one hour before the deadline for the other Lenders, in the case of a Term SOFR Auction, Alternative Currency Daily Rate Auction or Alternative Currency Term Rate LIBOR Auction or (y) 15 minutes before the deadline for the other Lenders, in the case of an Absolute Rate Auction. Subject to Articles 3 and 8, any Competitive Bid Quote so made shall not be revocable except with the written consent of the Administrative Agent given on the instructions of the applicable Borrower.

Appears in 1 contract

Samples: Credit Agreement (Praxair Inc)

Submission and Contents of Competitive Bid Quotes. (i) Each Lender may submit a quote (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 2.03(d) and must be submitted to the Administrative Agent by facsimile or other electronic transmission at its address referred to in Section 11.01 not later than (w) 10:00 A.M. (New York City time) at any time on the date of each Borrowing denominated in Dollars in the case of an Absolute Rate Auction, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated in Dollars in the case of a Term SOFR an Eurocurrency Auction, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a Borrower and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders not later than the date of the Competitive Bid Quote Request for the first Alternative Euro-Currency Term Rate Auction, Alternative Currency Daily Rate Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Administrative Agent (or any Affiliate of the Administrative Agent) in the capacity of a Lender may be submitted, and may only be submitted, if the Administrative Agent or such Affiliate notifies the applicable Borrower of the terms of the offer or offers contained therein not later than (x) one hour before the deadline for the other Lenders, in the case of a Term SOFR Auction, Alternative Euro-Currency Daily Rate Auction or Alternative Currency Term Rate Auction or (y) 15 minutes before the deadline for the other Lenders, in the case of an Absolute Rate Auction. Subject to Articles 3 and 8, any Competitive Bid Quote so made shall not be revocable except with the written consent of the Administrative Agent given on the instructions of the applicable Borrower.

Appears in 1 contract

Samples: Credit Agreement (Linde PLC)

Submission and Contents of Competitive Bid Quotes. (i) Each Lender may may, but is not obligated to, submit a quote (a “Competitive Bid Quote”) 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 2.03(d) and must be submitted to the Administrative Agent by telex or facsimile or other electronic transmission at its address referred specified in or pursuant to in Section 11.01 9.01 not later than (wx) 10:00 2:00 P.M. (New York City time) on the fourth Euro-Dollar Business Day before the proposed date of Borrowing, in the case of a LIBOR Auction or (y) 9:30 A.M. (New York City time) on the proposed date of each Borrowing denominated in Dollars Borrowing, in the case of an Absolute Rate AuctionAuction (or, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated in Dollars in the case of a Term SOFR Auctioneither case, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a the Borrower and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Administrative Agent (or any Affiliate affiliate of the Administrative Agent) in the capacity of a Lender may be submitted, and may only be submitted, if the Administrative Agent or such Affiliate affiliate notifies the applicable Borrower of the terms of the offer or offers contained therein not later than (x) one hour before the deadline for the other Lenders, in the case of a Term SOFR Auction, Alternative Currency Daily Rate Auction or Alternative Currency Term Rate LIBOR Auction or (y) 15 minutes before the deadline for the other Lenders, in the case of an Absolute Rate Auction. Subject to Articles 3 and 86, any Competitive Bid Quote so made shall not be revocable except with the written consent of the Administrative Agent given on the instructions of the applicable Borrower.

Appears in 1 contract

Samples: Credit Agreement (Consolidated Edison Inc)

Submission and Contents of Competitive Bid Quotes. (i) 1. Each Lender Bank may submit a quote (a “Competitive Bid Quote”) 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 2.03(dsubsection (d) and must be submitted to the Administrative Agent by facsimile or other electronic transmission at its address referred offices specified in or pursuant to in Section 11.01 9.1 not later than (wx) 10:00 A.M. 2:00 p.m. (New York City Chicago, Illinois time) on the fourth Business Day prior to the proposed date of each Borrowing denominated Borrowing, in Dollars the case of a LIBOR Auction or (y) 9:30 a.m. (Chicago, Illinois time) on the proposed date of Borrowing, in the case of an Absolute Rate AuctionAuction (or, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated in Dollars in the case of a Term SOFR Auctioneither case, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a the Borrower and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders Banks not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Bank serving as the Administrative Agent (or any Affiliate affiliate of the Bank serving as the Administrative Agent) in the capacity of a Lender Bank may be submitted, and may only be submitted, if the Bank serving as the Administrative Agent or such Affiliate affiliate notifies the applicable Borrower of the terms of the offer or offers contained therein not later than (x) one hour before prior to the deadline for the other LendersBanks, in the case of a Term SOFR Auction, Alternative Currency Daily Rate Auction or Alternative Currency Term Rate LIBOR Auction or (y) 15 minutes before prior to the deadline for the other LendersBanks, in the case of an Absolute Rate Auction. Subject to Articles 3 III and 8VI, any Competitive Bid Quote so made shall not be revocable irrevocable except with the written consent of the Administrative Agent given on the instructions of the applicable Borrower. Such Competitive Bid Loans may be funded by such Bank’s Designated Lender (if any) as provided in Section 9.6(d), however, such Bank shall not be required to specify in its Competitive Bid Quote whether such Competitive Bid Loans will be funded by such Designated Lender.

Appears in 1 contract

Samples: Revolving Credit Agreement (Erp Operating LTD Partnership)

Submission and Contents of Competitive Bid Quotes. (i) Each Lender may submit a quote (a “Competitive Bid Quote”) 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 2.03(dsubsection (d) and must be submitted to the Administrative Agent by telex or facsimile or other electronic transmission at its address referred offices specified in or pursuant to in Section 11.01 10.01 not later than (wx) 10:00 9:30 A.M. (New York City time) (or 9:30 A.M. (London time) in the case of an Alternative Currency Borrowing) on the third Euro-Dollar Business Day prior to the proposed date of each Borrowing denominated (or in Dollars the case of an Alternative Currency Borrowing, the third Euro-Currency Business Day), in the case of a LIBOR Auction or (y) 9:30 A.M. (New York City time) (or 9:30 A.M. (London time) in the case of an Alternative Currency Borrowing) on the proposed date of Borrowing, in the case of an Absolute Rate AuctionAuction (or, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated in Dollars in the case of a Term SOFR Auctioneither case, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a the applicable Borrower and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Administrative Agent (or any Affiliate affiliate of the Administrative Agent) in the capacity of a Lender may be submitted, and may only be submitted, if the Administrative Agent or such Affiliate affiliate notifies the applicable Borrower of the terms of the offer or offers contained therein not later than (x) one hour before prior to the deadline for the other Lenders, in the case of a Term SOFR Auction, Alternative Currency Daily Rate Auction or Alternative Currency Term Rate LIBOR Auction or (y) 15 minutes before prior to the deadline for the other Lenders, in the case of an Absolute Rate Auction. Subject to Articles 3 and 86, any Competitive Bid Quote so made shall not be revocable irrevocable except with the written consent of the Administrative Agent given on the instructions of the applicable Borrower.

Appears in 1 contract

Samples: Agreement (Estee Lauder Companies Inc)

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Submission and Contents of Competitive Bid Quotes. (i) Each Lender may submit a quote (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 subsection 2.03(d) and must be submitted to the Administrative Agent by facsimile or other electronic transmission at its address referred to in Section 11.01 not later than (w) 10:00 11:00 A.M. (New York City time) on (x) the third Euro-Dollar Business Day before the proposed date of each Borrowing denominated Borrowing, in Dollars the case of a LIBOR Auction or (y) the proposed date of Borrowing, in the case of an Absolute Rate AuctionAuction (or, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated in Dollars in the case of a Term SOFR Auctioneither case, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a the Borrower and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Administrative Agent (or any Affiliate of the Administrative Agent) in the capacity of a Lender may be submitted, and may only be submitted, if the Administrative Agent or such Affiliate notifies the applicable Borrower of the terms of the offer or offers contained therein not later than (x) one hour before the deadline for the other Lenders, in the case of a Term SOFR Auction, Alternative Currency Daily Rate Auction or Alternative Currency Term Rate LIBOR Auction or (y) 15 minutes before the deadline for the other Lenders, in the case of an Absolute Rate Auction. Subject to Articles 3 and 8, any Competitive Bid Quote so made shall not be revocable except with the written consent of the Administrative Agent given on the instructions of the applicable Borrower.

Appears in 1 contract

Samples: Credit Agreement (Praxair Inc)

Submission and Contents of Competitive Bid Quotes. (i) Each Lender Bank may submit a competitive bid quote (a “Competitive Bid Quote”"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 subsection 2.03(d) and must be submitted to the Administrative Agent by telex or facsimile or other electronic transmission at its address referred to in Section 11.01 Chicago Office not later than (wx) 10:00 10:30 A.M. (New York City time) on the fourth Euro-Currency Business Day before the proposed date of each Borrowing denominated Borrowing, in Dollars the case of a LIBOR Auction in an Alternative Currency, (y) 10:30 A.M. (New York City time) on the third Euro-Currency Business Day before the proposed date of Borrowing, in the case of a LIBOR Auction in Dollars, or (z) 10:30 A.M. (New York City time) on the proposed date of Borrowing, in the case of an Absolute Rate Auction, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated or, in Dollars in the case of a Term SOFR Auctionany such case, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a the Borrower and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders Banks not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided PROVIDED that Competitive Bid Quotes submitted by the Administrative Agent (or any Affiliate affiliate of the Administrative Agent) in the capacity of a Lender Bank may be submitted, and may only be submitted, if the Administrative Agent or such Affiliate affiliate notifies the applicable Borrower of the terms of the offer or offers contained therein not later than (x) one hour before the deadline for the other LendersBanks, in the case of a Term SOFR Auction, Alternative Currency Daily Rate Auction or Alternative Currency Term Rate LIBOR Auction or (y) 15 minutes before the deadline for the other LendersBanks, in the case of an Absolute Rate Auction. Subject to Articles 3 and 8, any Competitive Bid Quote so made shall not be revocable except with the written consent of the Administrative Agent given on the instructions of the applicable Borrower.

Appears in 1 contract

Samples: Credit Agreement (Blyth Industries Inc)

Submission and Contents of Competitive Bid Quotes. (i) Each Lender may submit a quote (a “Competitive Bid Quote”) 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 2.03(dsubsection (d) and must be submitted to the Administrative Agent by telex or facsimile or other electronic transmission at its address referred offices specified in or pursuant to in Section 11.01 10.01 not later than (wx) 10:00 A.M. 9:30 a.m. (New York City time) on the third Business Day prior to the proposed date of each Borrowing denominated Borrowing, in Dollars the case of a LIBOR Auction or (y) 9:30 a.m. (New York City time) on the proposed date of Borrowing, in the case of an Absolute Rate AuctionAuction (or, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated in Dollars in the case of a Term SOFR Auctioneither case, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a the Borrower and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Administrative Agent (or any Affiliate affiliate of the Administrative Agent) in the capacity of a Lender may be submitted, and may only be submitted, if the Administrative Agent or such Affiliate affiliate notifies the applicable Borrower of the terms of the offer or offers contained therein not later than (x) one hour before prior to the deadline for the other Lenders, in the case of a Term SOFR Auction, Alternative Currency Daily Rate Auction or Alternative Currency Term Rate LIBOR Auction or (y) 15 minutes before prior to the deadline for the other Lenders, in the case of an Absolute Rate Auction. Subject to Articles 3 and 86, any Competitive Bid Quote so made shall not be revocable irrevocable except with the written consent of the Administrative Agent given on the instructions of the applicable Borrower.

Appears in 1 contract

Samples: Credit Agreement (Estee Lauder Companies Inc)

Submission and Contents of Competitive Bid Quotes. (i) Each Lender Bank may submit a quote (a “Competitive Bid Quote”) 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 2.03(dsubsection (d) and must be submitted to the Administrative Servicing Agent by facsimile or other electronic transmission at its address referred offices specified in or pursuant to in Section 11.01 9.01 not later than (wx) 10:00 2:00 P.M. (New York City time) on the fourth Business Day prior to the proposed date of Borrowing, in the case of a LIBOR Auction or (y) 9:30 A.M. (New York City time) on the proposed date of each Borrowing denominated in Dollars Borrowing, in the case of an Absolute Rate AuctionAuction (or, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated in Dollars in the case of a Term SOFR Auctioneither case, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a the Borrower and the Administrative Servicing Agent shall have mutually agreed and shall have notified to the Lenders Banks not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Administrative Servicing Agent (or any Affiliate affiliate of the Administrative Servicing Agent) in the capacity of a Lender Bank may be submitted, and may only be submitted, if the Administrative Servicing Agent or such Affiliate affiliate notifies the applicable Borrower of the terms of the offer or offers contained therein not later than (x) at least one hour before the deadline for the applicable to other LendersBanks, in the case of a Term SOFR Auction, Alternative Currency Daily Rate LIBOR Auction or Alternative Currency Term Rate Auction or (y) 15 minutes before the deadline for the applicable to other LendersBanks, in the case of an Absolute Rate Auction. Subject to Articles 3 and 86, any Competitive Bid Quote so made shall not be revocable irrevocable except with the written consent of the Administrative Servicing Agent given on the instructions of the applicable Borrower.

Appears in 1 contract

Samples: Credit Agreement (Clorox Co /De/)

Submission and Contents of Competitive Bid Quotes. (i) Each Lender Bank may submit a quote (a “Competitive Bid Quote”) 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 2.03(dsubsection (d) and must be submitted to the Administrative Agent by telex or facsimile or other electronic transmission at its address referred offices specified in or pursuant to in Section 11.01 9.01 not later than (wx) 10:00 2:00 P.M. (New York City time) on the fourth Euro–Dollar Business Day prior to the proposed date of Borrowing, in the case of a LIBOR Auction or (y) 9:30 A.M. (New York City time) on the proposed date of each Borrowing denominated in Dollars Borrowing, in the case of an Absolute Rate AuctionAuction (or, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated in Dollars in the case of a Term SOFR Auctioneither case, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a Borrower the Company and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders Banks not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Administrative Agent (or any Affiliate affiliate of the Administrative Agent) in the capacity of a Lender Bank may be submitted, and may only be submitted, if the Administrative Agent or such Affiliate affiliate notifies the applicable Borrower Company of the terms of the offer or offers contained therein not later than (x) one hour before prior to the deadline for the other LendersBanks, in the case of a Term SOFR Auction, Alternative Currency Daily Rate Auction or Alternative Currency Term Rate LIBOR Auction or (y) 15 minutes before prior to the deadline for the other LendersBanks, in the case of an Absolute Rate Auction. Subject to Articles 3 and 86, any Competitive Bid Quote so made shall not be revocable irrevocable except with the written consent of the Administrative Agent given on the instructions of the applicable BorrowerCompany.

Appears in 1 contract

Samples: Credit Agreement (Rockwell Collins Inc)

Submission and Contents of Competitive Bid Quotes. (i) Each Lender Bank may submit a competitive bid quote (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 subsection 2.03(d) and must be submitted to the Administrative Agent by telex or facsimile or other electronic transmission at its address referred to in Section 11.01 not later than (wx) 10:00 10:30 A.M. (New York City time) on the fourth Euro-Currency Business Day before the proposed date of each Borrowing denominated Borrowing, in Dollars the case of a LIBOR Auction in an Alternative Currency, (y) 10:30 A.M. (New York City time) on the third Euro-Currency Business Day before the proposed date of Borrowing, in the case of a LIBOR Auction in Dollars, or (z) 10:30 A.M. (New York City time) on the proposed date of Borrowing, in the case of an Absolute Rate Auction, (x) 11:00 A.M. (New York City time) the third Business Day before each Borrowing denominated or, in Dollars in the case of a Term SOFR Auctionany such case, (y) 11:00 A.M. (London time) the third Business Day before each Borrowing denominated in Euro or Pounds Sterling and (z) 11:00 A.M. (local time) the third Business Day before each Borrowing denominated in an Alternative Currency (other than Euro and Pounds Sterling) (or such other time or date as a the Borrower and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders Banks not later than the date of the Competitive Bid Quote Request for the first Alternative Currency Term Rate Auction, Alternative Currency Daily Rate LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the Administrative Agent (or any Affiliate affiliate of the Administrative Agent) in the capacity of a Lender Bank may be submitted, and may only be submitted, if the Administrative Agent or such Affiliate affiliate notifies the applicable Borrower of the terms of the offer or offers contained therein not later than (x) one hour before the deadline for the other LendersBanks, in the case of a Term SOFR Auction, Alternative Currency Daily Rate Auction or Alternative Currency Term Rate LEBOR Auction or (y) 15 minutes before the deadline for the other LendersBanks, in the case of an Absolute Rate Auction. Subject to Articles 3 and 8, any Competitive Bid Quote so made shall not be revocable except with the written consent of the Administrative Agent given on the instructions of the applicable Borrower.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Blyth Inc)

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