Common use of The Competitive Advances Clause in Contracts

The Competitive Advances. (a) Each Bank severally agrees that the Borrower may make Competitive Borrowings under this Section 2.03 from time to time on any Business Day during the period from the Closing Date until the Termination Date, in each case on the terms and conditions hereinafter set forth; provided, however, that at no time shall the aggregate amount of Contract Advances and Competitive Advances outstanding exceed the aggregate amount of the Commitments. Each Competitive Borrowing shall consist of Competitive Advances of the same Type made on the same day.

Appears in 2 contracts

Samples: Assignment and Acceptance Agreement (Union Pacific Resources Group Inc), Union Pacific Resources Group Inc

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The Competitive Advances. (a) Each Bank severally agrees that the Borrower may make Competitive Borrowings under this Section 2.03 from time to time on any Business Day during the period from the Closing Date until the Termination Date, in each case on the terms and conditions hereinafter set forth; provided, however, that at no time shall the aggregate amount of Contract Advances (other than Term Advances) and Competitive Advances outstanding exceed the aggregate amount of the Commitments. Each Competitive Borrowing shall consist of Competitive Advances of the same Type made on the same day.

Appears in 2 contracts

Samples: Toronto Dominion (Union Pacific Resources Group Inc), Union Pacific Resources Group Inc

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The Competitive Advances. (a) Each Bank severally agrees that the Borrower may make Competitive Borrowings under this Section SECTION 2.03 from time to time on any Business Day during the period from the Closing Effective Date until the Termination Date, in each case on the terms and conditions hereinafter set forth; provided, however, that at no time shall the aggregate amount of Contract Advances and Competitive Advances outstanding exceed the aggregate amount of the Commitments. Each Competitive Borrowing shall consist of Competitive Advances of the same Type made on the same day.

Appears in 1 contract

Samples: Credit Agreement (Union Pacific Resources Group Inc)

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