Common use of The Competitive Bid Advances Clause in Contracts

The Competitive Bid Advances. (a) Each Lender ---------------------------- severally agrees that the Borrower may make Competitive Bid Borrowings under this Section 2.15 from time to time on any Business Day during the period from the date hereof until the date occurring 30 days prior to the Commitment Termination Date in the manner set forth below; provided that, following the -------- making of each Competitive Bid Borrowing, (x) the aggregate amount of the Competitive Bid Advances of all Lenders then outstanding shall not exceed $100,000,000, (y) the aggregate amount of the Competitive Bid Advances of any one Lender then outstanding shall not exceed $50,000,000 and (z) the aggregate amount of the Advances then outstanding shall not exceed the aggregate amount of the Commitments of the Lenders (computed without regard to any Competitive Bid Reduction).

Appears in 2 contracts

Samples: Day Credit Agreement (Cytec Industries Inc/De/), Day Credit Agreement (Cytec Industries Inc/De/)

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The Competitive Bid Advances. (a) Each Lender ---------------------------- severally agrees that the Borrower may make Competitive Bid Borrowings under this Section 2.15 2.03 from time to time on any Business Day during the period from the date hereof until the date occurring 30 days prior to the Commitment Termination Date in the manner set forth below; provided that, following the -------- making of each Competitive Bid Borrowing, (x) the aggregate amount of the Competitive Bid Advances of all Lenders then outstanding shall not exceed $100,000,000, (y) the aggregate amount of the Competitive Bid Advances of any one Lender then outstanding shall not exceed $50,000,000 and (z) the aggregate amount of the Advances then outstanding shall not exceed the aggregate amount of the Commitments of the Lenders (computed without regard to any Competitive Bid Reduction).

Appears in 2 contracts

Samples: Credit Agreement (New England Electric System), Credit Agreement (New England Electric System)

The Competitive Bid Advances. (a) Each Lender severally ---------------------------- severally agrees that the Borrower may make Competitive Bid Borrowings under this Section 2.15 2.03 from time to time on any Business Day during the period from the date hereof Effective Date until the date occurring 30 7 days prior to the Commitment Termination Date in the manner set forth below; provided that, that (x) each Competitive Bid Borrowing shall be in an -------- aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) following the -------- making of each Competitive Bid Borrowing, (x) the aggregate amount of the Competitive Bid Advances of all Lenders then outstanding shall not exceed $100,000,000, (y) the aggregate amount of the Competitive Bid Advances of any one Lender then outstanding shall not exceed $50,000,000 and (z) the aggregate amount of the Advances then outstanding shall not exceed the aggregate amount of the Commitments of the Lenders (computed without regard to any Competitive Bid Reduction)Lenders.

Appears in 2 contracts

Samples: Day Credit Agreement (Rayonier Inc), Credit Agreement (Rayonier Inc)

The Competitive Bid Advances. (a) Each Lender ---------------------------- severally agrees that the Borrower may make Competitive Bid Borrowings under this Section 2.15 SectionE2.15 from time to time on any Business Day during the period from the date hereof until the date occurring 30 days prior to the Commitment Termination Date in the manner set forth below; provided that, following the -------- making of each Competitive Bid Borrowing, (x) the x)the aggregate amount of the Competitive Bid Advances of all Lenders then outstanding shall not exceed $100,000,000, (y) the y)Ethe aggregate amount of the Competitive Bid Advances of any one Lender then outstanding shall not exceed $50,000,000 and (z) the z)Ethe aggregate amount of the Advances then outstanding shall not exceed the aggregate amount of the Commitments of the Lenders (computed without regard to any Competitive Bid Reduction).

Appears in 1 contract

Samples: Day Credit Agreement (Cytec Industries Inc/De/)

The Competitive Bid Advances. (a) Each Lender ---------------------------- severally agrees that the Borrower may make Competitive Bid Borrowings under this Section 2.15 2.03 from time to time on any Business Day during the period from the date hereof until the date occurring 30 three days prior to the Commitment Termination Date in the manner set forth below; provided that, following the -------- making of each Competitive Bid Borrowing, (x) the aggregate amount of the Competitive Bid Advances of all Lenders then outstanding shall not exceed the aggregate amount of $100,000,000500,000,000, (y) the aggregate amount of the Competitive Bid Advances of any one Lender then outstanding shall not exceed $50,000,000 and (z) the aggregate amount of the Advances then outstanding shall not exceed the aggregate amount of the Commitments of the Lenders (computed without regard to any Competitive Bid Reduction).

Appears in 1 contract

Samples: Credit Agreement (360 Communications Co)

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The Competitive Bid Advances. (a) Each Lender ---------------------------- severally agrees that the Borrower may make Competitive Bid Borrowings under this Section 2.15 from time to time on any Business Day during the period from the date hereof until the date occurring 30 days prior to the Commitment Termination Date in the manner set forth below; provided that, following the -------- making of each -------- Competitive Bid Borrowing, (x) the aggregate amount of the Competitive Bid Advances of all Lenders then outstanding shall not exceed $100,000,000, (y) the aggregate amount of the Competitive Bid Advances of any one Lender then outstanding shall not exceed $50,000,000 and (z) the aggregate amount of the Advances then outstanding shall not exceed the aggregate amount of the Commitments of the Lenders (computed without regard to any Competitive Bid Reduction).

Appears in 1 contract

Samples: Credit Agreement (Cytec Industries Inc/De/)

The Competitive Bid Advances. (a) Each Lender ---------------------------- severally agrees that the Borrower may make Competitive Bid Borrowings under this Section 2.15 from time to time on any Business Day during the period from the date hereof until the date occurring 30 days prior to the Commitment Termination Date in the manner set forth below; provided that, following the -------- making of each Competitive Bid Borrowing, (x) the aggregate amount of the Competitive Bid Advances of all Lenders then outstanding shall not exceed $100,000,000, (y) the aggregate amount of the Competitive Bid Advances of any one Lender then outstanding shall not exceed $50,000,000 and (z) the aggregate amount of the Advances then outstanding shall not exceed the aggregate amount of the Commitments of the Lenders (computed without regard to any Competitive Bid Reduction).

Appears in 1 contract

Samples: Credit Agreement (Cytec Industries Inc/De/)

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