Common use of The Bid Loans Clause in Contracts

The Bid Loans. The Company may request the Banks to offer to make uncommitted loans (each such loan being hereinafter referred to as a "Bid Loan" and collectively as the "Bid Loans") in the manner set forth in this Section 1 and in amounts such that the aggregate principal amount of all Committed Loans and Bid Loans at any time outstanding hereunder, when taken together with the then aggregate amount of the L/C Obligations at any one time outstanding, shall not exceed the Commitments as then in effect. The Banks may, but shall have no obligation to, make such offers and the Company may, but shall have no obligation to, accept any such offers in the manner set forth in this Section. Each Bank may offer to make Bid Loans in any amount (whether greater than, equal to, or less than its Commitment), subject to the limitation that the aggregate principal amount of all Loans outstanding under this Agreement, when taken together with the aggregate amount of the L/C Obligations at any one time 10 outstanding, may not at any time exceed the Commitments then in effect and subject to the other conditions of this Agreement. Bid Loans may either bear interest at a stated rate per annum ("Stated Rate Bid Loans") or at a margin over the LIBOR ("Eurodollar Bid Loans"); provided that there may be no more than fifteen different Interest Periods for both Stated Rate Bid Loans and Eurodollar Bid Loans outstanding at the same time.

The Bid Loans. The Company At any time before the Termination Date, Chemical may request the Banks to offer to make uncommitted loans (each such loan being hereinafter referred to as a "Bid Loan" and collectively as the "Bid Loans") in the manner set forth in this Section 1 Sections 2.1 through 2.6 hereof and in amounts such that the aggregate principal amount of all Committed Loans and Bid Loans at any time outstanding hereunder, when taken together with the then aggregate amount of the L/C Obligations at any one time outstanding, Total Outstandings hereunder shall not exceed the sum of the Revolving Credit Commitments as then in effecteffect after taking into account any Loans to be paid with such Bid Loans. The Banks may, but shall have no obligation to, make such offers and the Company Borrowers may, but shall have no obligation to, accept any such offers in the manner set forth in this SectionSections 2.1 through 2.6 hereof. Each Bank may offer to make Bid Loans in any amount (whether greater than, equal to, or less than its Revolving Credit Commitment), subject to the limitation that the aggregate principal amount of all Loans outstanding the Total Outstandings under this Agreement, when taken together with the aggregate amount of the L/C Obligations at any one time 10 outstanding, Agreement may not at any time exceed the sum of the Revolving Credit Commitments then in effect and subject to the other conditions of this Agreementeffect. Bid Loans may either bear interest at a stated rate per annum ("Stated Rate Bid Loans") or at a margin (the "Bid Margin") over or under the LIBOR Adjusted Eurodollar Rate ("Eurodollar Bid Loans"); provided that there may be no more than fifteen five different Interest Periods for both Stated Rate Bid Loans and Eurodollar Bid Loans outstanding at the same timetime and that no Bid Loan may mature after the Termination Date.

The Bid Loans. The Company At any time before the Termination Date, the Borrower may request the Banks to offer to make uncommitted loans (each such loan being hereinafter referred to as a "Bid Loan" and collectively as the "Bid Loans") in the manner set forth in this Section 1 Sections 2.1 through 2.6 hereof and in amounts such that the aggregate principal amount of all Committed Loans and Bid Loans at any time outstanding hereunder, when taken together with the then aggregate amount of the L/C Obligations at any one time outstanding, Total Outstandings hereunder shall not exceed the sum of the Revolving Credit Commitments as then in effecteffect after taking into account any Loans to be paid with such Bid Loans. The Banks may, but shall have no obligation to, make such offers and the Company Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this SectionSections 2.1 through 2.6 hereof. Each Bank may offer to make Bid Loans in any amount (whether greater than, equal to, or less than its Revolving Credit Commitment), subject to the limitation that the aggregate principal amount of all Loans outstanding the Total Outstandings under this Agreement, when taken together with the aggregate amount of the L/C Obligations at any one time 10 outstanding, Agreement may not at any time exceed the sum of the Revolving Credit Commitments then in effect and subject to the other conditions of this Agreementeffect. Bid Loans may either bear interest at a stated rate per annum ("Stated Rate Bid Loans") or at a margin (the "Bid Margin") over or under the LIBOR Adjusted Eurodollar Rate ("Eurodollar Bid Loans"); provided that there may be no more than fifteen five different Interest Periods for both Stated Rate Bid Loans and Eurodollar Bid Loans outstanding at the same timetime and that no Bid Loan may mature after the Termination Date.

The Bid Loans. The At any time before the Termination Date, the Company may request the Banks to offer to make uncommitted loans (each such loan being hereinafter referred to as a "Bid Loan" and collectively as the "Bid Loans") in the manner set forth in this Section 1 Sections 2.1 through 2.6 hereof and in amounts such that the aggregate principal amount of all Committed Loans and Bid Loans at any time outstanding hereunder, when taken together with the then aggregate amount of the L/C Obligations at any one time outstanding, Total Outstandings hereunder shall not exceed the sum of the Revolving Credit Commitments as then in effecteffect after taking into account any Loans to be paid with such Bid Loans. The Banks may, but shall have no obligation to, make such offers and the Company Borrowers may, but shall have no obligation to, accept any such offers in the manner set forth in this SectionSections 2.1 through 2.6 hereof. Each Bank may offer to make Bid Loans in any amount (whether greater than, equal to, or less than its Revolving Credit Commitment), subject to the limitation that the aggregate principal amount of all Loans outstanding Total Outstandings under this Agreement, when taken together with the aggregate amount of the L/C Obligations at any one time 10 outstanding, Agreement may not at any time exceed the sum of the Revolving Credit Commitments then in effect and subject to the other conditions of this Agreementeffect. Bid Loans may either bear interest at a stated rate per annum ("Stated Rate Bid Loans") or at a margin (the "Bid Margin") over or under the LIBOR Adjusted Eurodollar Rate ("Eurodollar Bid Loans"); provided that there may be no more than fifteen five different Interest Periods for both Stated Rate Bid Loans and Eurodollar Bid Loans outstanding at the same timetime and that no Bid Loan may mature after the Termination Date.

The Bid Loans. The Company Borrower may request the Banks to offer to make uncommitted loans (each such loan being hereinafter referred to as a "Bid LoanBID LOAN" and collectively as the "Bid LoansBID LOANS") in the manner set forth in this Section 1 2 and in amounts such that (i) the aggregate principal amount of all outstanding Loans (whether Committed Loans, Swing Loans or Bid Loans) and Bid Loans at any time outstanding hereunder, when taken together with the then aggregate amount of the L/C Obligations at any one time outstanding, shall not exceed the Commitments as then in effect and (ii) no Bid Loan shall be made if, at the time thereof or after giving effect thereto, the aggregate amount of Bid Loans would exceed the Bid Loan Limit then in effect. The Banks may, but shall have no obligation to, make such offers and the Company Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this SectionSection 2. Each Bank may offer to make Bid Loans in any amount (whether greater than, equal to, or less than its Commitment), subject to the limitation (a) limitations that (i) the aggregate principal amount of all Loans outstanding under this Agreement(whether Committed Loans, when taken together with the aggregate amount of the Swing Loans or Bid Loans) and L/C Obligations outstanding at any one time 10 outstanding, may shall not at any time exceed the Commitments then in effect and subject to (ii) no Bid Loan shall be made if, at the time thereof or after giving effect thereto, the aggregate amount of Bid Loans would exceed the Bid Loan Limit then in effect and (b) the other conditions of this Agreement. Bid Loans may either bear interest at a stated rate per annum ("Stated Rate Bid LoansSTATED RATE BID LOANS") or at a margin over above or below the applicable Adjusted LIBOR ("Eurodollar Bid LoansEURODOLLAR BID LOANS"); provided PROVIDED that there may be no more than fifteen six (6) different Interest Periods for both Stated Rate Bid Loans and Eurodollar Bid Loans outstanding at the same time.