Common use of The Competitive Loans Clause in Contracts

The Competitive Loans. Subject to the terms and conditions of this Agreement, each Borrower may borrow Competitive Loans in Dollars from time to time during the Competitive Loan Borrowing Period on any Business Day, provided, that in no event may Competitive Loans be borrowed hereunder if, after giving effect thereto, the aggregate principal amount of Loans then outstanding would exceed the aggregate amount of the Revolving Credit Commitments at such time. Within the limits and on the conditions hereinafter set forth with respect to Competitive Loans, each Borrower from time to time may borrow, repay and reborrow Competitive Loans.

Appears in 2 contracts

Samples: Three Year Credit Agreement (Ibm Credit LLC), Credit Agreement (Ibm Credit LLC)

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The Competitive Loans. Subject to the terms and conditions of this Agreement, each the Borrower may borrow Competitive Loans in Dollars from time to time during the Competitive Loan Borrowing Period on any Business Day, Day during the period from the date hereof through the date 14 days prior to the Termination Date; provided, that in no event may Competitive Loans be borrowed hereunder if, after giving effect thereto, thereto the aggregate principal amount of Loans then outstanding would exceed the aggregate amount of the Revolving Credit Commitments at such timethen in effect. Within the limits and on the conditions hereinafter herein set forth with respect to Competitive Loans, each the Borrower from time to time may borrow, repay and reborrow Competitive Loans.

Appears in 2 contracts

Samples: Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Virginia Electric & Power Co)

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