Common use of Submission and Contents of Competitive Bids Clause in Contracts

Submission and Contents of Competitive Bids. (i) Each Lender may submit a competitive bid (a "COMPETITIVE BID") containing an offer or offers to make Competitive Bid Loans in response to any invitation for Competitive Bids. Each Competitive Bid must comply with the requirements of this SUBSECTION 2.03(d) and must be submitted to the Administrative Agent by telex or facsimile at the Administrative Agent's office not later than (x) 10:00 A.M. on the third Business Day before the proposed date of Borrowing, in the case of a LIBOR Auction or (y) 10:00 A.M. on the proposed date of Borrowing, in the case of an Absolute Rate Auction, or, in any such case, such other time or date as 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 Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective; PROVIDED, that Competitive Bids 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 Borrower of the terms of the offer or offers contained therein not later than 30 minutes before the deadline for the other Lenders. Subject to ARTICLES III and IV, any Competitive Bid so made shall not be revocable except with the written consent of the Administrative Agent given on the instructions of the Borrower.

Appears in 2 contracts

Samples: Worthington Industries Inc, Worthington Industries Inc

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Submission and Contents of Competitive Bids. (i) Each Lender Bank may submit a competitive bid (a "COMPETITIVE BID") Competitive Bid containing an offer or offers to make Competitive Bid Loans in response to any invitation Invitation for Competitive Bids. Each Competitive Bid must comply with the requirements of this SUBSECTION 2.03(d) Section 2.1C and must be submitted to the Administrative Agent by telex or facsimile transmission at its offices specified on the Administrative Agent's office signature page hereof or as otherwise directed by Agent not later than (xi) 10:00 9:30 A.M. (Cleveland, Ohio time) on the third Business Day before prior to the proposed date of Borrowingborrowing, in the case of a LIBOR Auction or (yii) 10:00 9:30 A.M. (Cleveland, Ohio time) on the proposed date of Borrowingborrowing, in the case of an Absolute Rate Auction, Auction (or, in any such either case, such other time or date as 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 Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); PROVIDEDprovided that any Bank submitting a Competitive Bid (A) after 9:00 A.M. (Cleveland, Ohio time) on such third Business Day prior to the proposed date of borrowing, in the case of a LIBOR Auction or (B) 9:00 A.M. (Cleveland, Ohio time) on the proposed date of borrowing, in the case of an Absolute Rate Auction, shall confirm Agent's receipt of such Competitive Bid by telephone, and provided further that Competitive Bids submitted by the Administrative Agent (or any 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 notifies the Borrower of the terms of the offer or offers contained therein not later than 30 fifteen (15) minutes before prior to the respective deadline for the other LendersBanks, in the case of either a LIBOR Auction or an Absolute Rate Auction. Subject to ARTICLES III and IV, any Any Competitive Bid so made shall not be revocable irrevocable except with the written consent of Agent. Each Competitive Bid shall be in substantially the Administrative Agent given on the instructions form of the Borrower.Exhibit C-3 hereto and shall in any case specify:

Appears in 1 contract

Samples: Credit Agreement (Amcast Industrial Corp)

Submission and Contents of Competitive Bids. (i) Each Lender Bank may submit a competitive bid (a "COMPETITIVE BID") Competitive Bid containing an offer or offers to make Competitive Bid Loans in response to any invitation Invitation for Competitive Bids. Each Competitive Bid must comply with the requirements of this SUBSECTION 2.03(d) Section 2.1C and must be submitted to the Administrative Agent by telex or facsimile transmission at its offices specified on the Administrative Agent's office signature page hereof or as otherwise directed by Agent not later than (xi) 10:00 9:30 A.M. (Cleveland, Ohio time) on the third Business Day before prior to the proposed date of Borrowingborrowing, in the case of a LIBOR Auction or (yii) 10:00 9:30 A.M. (Cleveland, Ohio time) on the proposed date of Borrowingborrowing, in the case of an Absolute Rate Auction, Auction (or, in any such either case, such other time or date as 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 Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); PROVIDEDprovided that any Bank submitting a Competitive Bid (A) after 9:00 A.M. (Cleveland, Ohio time) on such third Business Day prior to the proposed date of borrowing, in the case of a LIBOR Auction or (B) 9:00 A.M. (Cleveland, Ohio time) on the proposed date of borrowing, in the case of an Absolute Rate Auction, shall confirm Agent's receipt of such Competitive Bid by telephone, and provided further that Competitive Bids submitted by the Administrative Agent (or any 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 notifies the Borrower of the terms of the offer or offers contained therein not later than 30 fifteen (15) minutes before prior to the respective deadline for the other LendersBanks, in the case of either a LIBOR Auction or an Absolute Rate Auction. Subject to ARTICLES III and IV, any Any Competitive Bid so made shall not be revocable irrevocable except with the written consent of the Administrative Agent given on the instructions of the BorrowerAgent.

Appears in 1 contract

Samples: Credit Agreement (Amcast Industrial Corp)

Submission and Contents of Competitive Bids. (i) Each Lender Bank may submit a competitive bid (a "COMPETITIVE BID") Competitive Bid containing an offer or offers to make Competitive Bid Loans in response to any invitation Invitation for Competitive Bids. Each Competitive Bid must comply with the requirements of this SUBSECTION 2.03(dsubsection (d) and must be submitted to the Administrative Agent by telex facsimile transmission at its offices specified in or facsimile at the Administrative Agent's office pursuant to Section 9.01 not later than (x) 10:00 A.M. 2:00 P.M. (New York City time) on the third fourth Euro-Dollar Business Day before prior to the proposed date of Borrowing, in the case of a LIBOR Auction or (y) 10:00 A.M. (New York City time) on the proposed date of Borrowing, in the case of an Absolute Rate Auction, Auction (or, in any such either case, such other time or date as 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 Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); PROVIDED, provided that Competitive Bids submitted by the Administrative Agent (or any 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 notifies the Borrower of the terms of the offer or offers contained therein not later than 30 minutes before (x) one hour prior to the deadline for the other LendersBanks, in the case of a LIBOR Auction or (y) 15 minutes prior to the deadline for the other Banks, in the case of an Absolute Rate Auction. Subject to ARTICLES III Articles 3 and IV6, any Competitive Bid so made shall not be revocable irrevocable except with the written consent of the Administrative Agent given on the instructions of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Dean Foods Co)

Submission and Contents of Competitive Bids. (i) Each Lender Bank may submit a competitive bid (a "COMPETITIVE BID") Competitive Bid containing an offer or offers to make Competitive Bid Loans in response to any invitation Invitation for Competitive Bids. Each Competitive Bid must comply with the requirements of this SUBSECTION 2.03(dsubsection (d) and must be submitted to the Administrative Agent by telex or facsimile transmission at the Administrative Agent's office not its offices specified in or pursuant to Section 10.01 no later than (x) 10:00 11:00 A.M. (New York City time) on the third fourth Business Day before prior to the proposed date of Borrowingthe Borrowing proposed therein, in the case of a LIBOR Auction or an Absolute Rate Auction for Competitive Loans in any Foreign Currency, and (y) 10:00 A.M. (New York City time) on the proposed date of BorrowingBorrowing proposed therein, in the case of an Absolute Rate Auction, Auction for Competitive Loans in Dollars (or, in any such case, such other time or date as the Borrower 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 Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); PROVIDED, provided that Competitive Bids submitted by the Administrative Agent (or any 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 notifies the Borrower Company of the terms of the offer or offers contained therein not later than 30 minutes before (x) one hour prior to the deadline for the other LendersBanks, in the case of a LIBOR Auction or (y) 15 minutes prior to the deadline for the other Banks, in the case of an Absolute Rate Auction. Subject to ARTICLES Articles III and IVVI, any Competitive Bid so made shall not be revocable irrevocable except with the written consent of the Administrative Agent given on the instructions of the BorrowerCompany.

Appears in 1 contract

Samples: Credit Agreement (Honeywell Inc)

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Submission and Contents of Competitive Bids. (i) Each Lender may submit a competitive bid (a "COMPETITIVE BID"“Competitive Bid”) containing an offer or offers to make Competitive Bid Loans in response to any invitation for Competitive Bids. Each Competitive Bid must comply with the requirements of this SUBSECTION subsection 2.03(d) and must be submitted to the Administrative Agent by telex or facsimile at the Administrative Agent's ’s office not later than (x) 10:00 A.M. on the third Business Day before the proposed date of Borrowing, in the case of a LIBOR Auction or (y) 10:00 A.M. on the proposed date of Borrowing, in the case of an Absolute Rate Auction, or, in any such case, such other time or date as 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 Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective; PROVIDED, provided that Competitive Bids 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 Borrower of the terms of the offer or offers contained therein not later than 30 minutes before the deadline for the other Lenders. Subject to ARTICLES Articles III and IV, any Competitive Bid so made shall not be revocable except with the written consent of the Administrative Agent given on the instructions of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Worthington Industries Inc)

Submission and Contents of Competitive Bids. (i) Each Lender may submit a competitive bid (a "COMPETITIVE BID"“Competitive Bid”) containing an offer or offers to make Competitive Bid Loans in response to any invitation for Competitive BidsBid Request. Each Competitive Bid must comply with the requirements of this SUBSECTION 2.03(d) and must should be submitted to the Administrative Agent by telex or facsimile at the Administrative Agent's office ’s Office not later than 10:00 a.m. (x) 10:00 A.M. on the third at least three (3) Business Day Days before the proposed date of Borrowingborrowing, in the case of a LIBOR Auction or (y) 10:00 A.M. on the proposed date of Borrowingborrowing, in the case of an Absolute Rate Auction, or, in any such case, such other time or date as the Borrower Borrowers and the Administrative Agent shall have mutually agreed and shall have notified to the Lenders not later than the date of the Competitive Bid Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective; PROVIDEDprovided, that Competitive Bids 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 Borrower Borrowers of the terms of the offer or offers contained therein not later than 30 minutes before the deadline for the other Lenders. Subject to ARTICLES III Sections 4.8 and IVArticle V, any Competitive Bid so made shall not be revocable except with the written consent of the Administrative Agent given on the instructions of the BorrowerBorrowers.

Appears in 1 contract

Samples: Credit Agreement (Family Dollar Stores Inc)

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