Common use of The Competitive Bid Advances Clause in Contracts

The Competitive Bid Advances. (a) Each Lender severally agrees that any Borrower may request Competitive Bid Borrowings under this Section 2.03 from time to time on any Business Day during the period from the date hereof until the date occurring seven days prior to the Termination Date in the manner set forth below; provided that, following the making of each Competitive Bid Borrowing, the aggregate amount (based in respect of any Advance denominated in a Foreign Currency on the Equivalent in Dollars on such Business Day) of the Advances and the aggregate Available Amount of Letters of Credit then outstanding shall not exceed the aggregate amount of the Revolving Credit Commitments. Notwithstanding anything herein to the contrary, no Competitive Bid Borrowing may be made in a Foreign Currency if, after giving effect to the making of such Competitive Bid Borrowing, the Equivalent in Dollars of the aggregate amount of outstanding Competitive Bid Advances denominated in Foreign Currencies, together with the Equivalent in Dollars of the aggregate amount of outstanding Revolving Credit Advances denominated in Major Currencies, would exceed $500,000,000.

The Competitive Bid Advances. (a) Each Lender severally agrees that any Borrower may request Competitive Bid Borrowings under this Section 2.03 from time to time on any Business Day during the period from the date hereof until the date occurring seven days prior to the Termination Date in the manner set forth below; provided that, following the making of each Competitive Bid Borrowing, the aggregate amount (based in respect of any Advance denominated in a Foreign Currency on the Equivalent in Dollars on such Business Day) of the Advances and the aggregate Available Amount of Letters of Credit then outstanding shall not exceed the aggregate amount of the Revolving Credit CommitmentsCommitments of the Lenders (computed without regard to any Competitive Bid Reduction). Notwithstanding anything herein to the contrary, no Competitive Bid Borrowing may be made in a Foreign Currency if, after giving effect to the making of such Competitive Bid Revolving Credit Borrowing, the Equivalent in Dollars of the aggregate amount of outstanding Competitive Bid Advances denominated in Foreign Currencies, together with the Equivalent in Dollars of the aggregate amount of outstanding Revolving Credit Advances denominated in Major Currencies, would exceed $500,000,000.

The Competitive Bid Advances. (a) Each Lender severally agrees that any the Borrower may request make Competitive Bid Borrowings under this Section 2.03 from time to time on any Business Day during the period from the date hereof until the date occurring seven 30 days prior to the final Termination Date in the manner set forth below; provided that, following the making of each Competitive Bid Borrowing, the aggregate amount of the Advances then outstanding (based in respect of any Advance denominated in a Foreign Currency on the Equivalent in Dollars on at the time such Business DayCompetitive Bid Borrowing is requested) of the Advances and the aggregate Available Amount of Letters of Credit then outstanding shall not exceed the aggregate amount of the Revolving Credit Commitments. Notwithstanding anything herein Commitments of the Lenders (computed without regard to the contrary, no any Competitive Bid Borrowing may be made in a Foreign Currency if, after giving effect to Reduction); provided further that following the making of such each Competitive Bid Borrowing, the aggregate amount of the Advances then outstanding (based in respect of any Advance denominated in a Foreign Currency on the Equivalent in Dollars of at the time such Competitive Bid Borrowing is requested) shall not exceed the aggregate amount of outstanding one third of the Commitments of the Lenders (computed without regard to any Competitive Bid Advances denominated in Foreign Currencies, together with the Equivalent in Dollars of the aggregate amount of outstanding Revolving Credit Advances denominated in Major Currencies, would exceed $500,000,000Reduction).

The Competitive Bid Advances. (a) Each Lender severally agrees that any Borrower may request Competitive Bid Borrowings under this Section 2.03 from time to time on any Business Day during the period from the date hereof until the date occurring seven days prior to the Termination Date in the manner set forth below; provided that, following the making of each Competitive Bid Borrowing, the aggregate amount (based in respect of any Advance denominated in a Foreign Currency on the Equivalent in Dollars on such Business Day) of the Advances and the aggregate Available Amount of Letters of Credit then outstanding shall not exceed the aggregate amount of the Revolving Credit Unused Commitments. Notwithstanding anything herein to the contrary, no Competitive Bid Borrowing may be made in a Foreign Currency if, after giving effect to the making of such Competitive Bid Revolving Credit Borrowing, the Equivalent in Dollars of the aggregate amount of outstanding Competitive Bid Advances denominated in Foreign Currencies, together with the Equivalent in Dollars of the aggregate amount of outstanding Revolving Credit Advances denominated in Major Currencies, would exceed $500,000,000.

The Competitive Bid Advances. (a) Each Lender severally agrees that any Borrower may request Competitive Bid Borrowings under this Section 2.03 from time to time on any Business Day during the period from the date hereof until the date occurring seven days prior to the Termination Date in the manner set forth below; provided that, following the making of each Competitive Bid Borrowing, the aggregate amount (based in respect of any Advance denominated in a Foreign Currency on the Equivalent in Dollars on such Business Day) of the Advances and the aggregate Available Amount of Letters of Credit then outstanding shall not exceed the aggregate amount of the Revolving Credit CommitmentsCommitments of the Lenders (computed without regard to any Competitive Bid Reduction). Notwithstanding anything herein to the contrary, no Competitive Bid Borrowing may be made in a Foreign Currency if, after giving effect to the making of such Competitive Bid Revolving Credit Borrowing, the Equivalent in Dollars of the aggregate amount of outstanding Competitive Bid Advances denominated in Foreign Currencies, together with the Equivalent in Dollars of the aggregate amount of outstanding Revolving Credit Advances denominated in Major Currencies, would exceed $500,000,000200,000,000.

The Competitive Bid Advances. (a) Each Lender severally agrees that any the Borrower may request make Competitive Bid Borrowings under this Section 2.03 from time to time on any Business Day during the period from the date hereof until the date occurring seven 30 days prior to the Termination Date in the manner set forth below; provided that, following the making of each Competitive Bid Borrowing, the aggregate amount of the Advances then outstanding (based in respect of any Advance denominated in a Foreign Currency on the Equivalent in Dollars on at the time such Business DayCompetitive Bid Borrowing is requested) of the Advances and the aggregate Available Amount of Letters of Credit then outstanding shall not exceed the aggregate amount of the Revolving Credit Commitments. Notwithstanding anything herein Commitments of the Lenders (computed without regard to the contrary, no any Competitive Bid Borrowing may be made in a Foreign Currency ifReduction); provided further that until the Sandvik Funding Date, after giving effect to following the making of such each Competitive Bid Borrowing, the aggregate amount of the Advances then outstanding (based in respect of any Advance denominated in a Foreign Currency on the Equivalent in Dollars of at the time such Competitive Bid Borrowing is requested) shall not exceed the aggregate amount of outstanding one third of the Commitments of the Lenders (computed without regard to any Competitive Bid Advances denominated in Foreign Currencies, together with the Equivalent in Dollars of the aggregate amount of outstanding Revolving Credit Advances denominated in Major Currencies, would exceed $500,000,000Reduction).

The Competitive Bid Advances. (a) Each Lender severally agrees that any the Borrower may request make Competitive Bid Borrowings under this Section 2.03 from time to time on any Business Day during the period from the date hereof until the date occurring seven 30 days prior to the Termination Date in the manner set forth below; provided that, following the making of each Competitive Bid Borrowing, the aggregate amount of the Advances then outstanding (based in respect of any Advance denominated in a Foreign Currency on the Equivalent in Dollars on at the time such Business DayCompetitive Bid Borrowing is requested) of the Advances and the aggregate Available Amount of Letters of Credit then outstanding shall not exceed the aggregate amount of the Revolving Credit Commitments. Notwithstanding anything herein Commitments of the Lenders (computed without regard to the contrary, no any Competitive Bid Borrowing may be made in a Foreign Currency if, after giving effect to Reduction); provided further that following the making of such each Competitive Bid Borrowing, the aggregate amount of the Advances then outstanding (based in respect of any Advance denominated in a Foreign Currency on the Equivalent in Dollars of at the time such Competitive Bid Borrowing is requested) shall not exceed the aggregate amount of outstanding one third of the Commitments of the Lenders (computed without regard to any Competitive Bid Advances denominated in Foreign Currencies, together with the Equivalent in Dollars of the aggregate amount of outstanding Revolving Credit Advances denominated in Major Currencies, would exceed $500,000,000Reduction).