Bid Loan definition

Bid Loan has the meaning specified in Section 2.03(a).

Bid Loan means a Loan by a Bank to the Company under Section 2.05, which may be a LIBOR Bid Loan or an Absolute Rate Bid Loan.

Bid Loan each loan (other than Negotiated Rate Loans) made pursuant to subsection 2.2; the aggregate amount advanced by a Bid Loan Bank pursuant to subsection 2.2 on each Borrowing Date shall constitute one Bid Loan, or more than one Bid Loan if so specified by the relevant Loan Assignee in its request for promissory notes pursuant to subsection 10.5(c).

Examples of Bid Loan in a sentence

• No Bid Request shall contain a request for (i) more than one Type of Bid Loan or (ii) Bid Loans having more than three different Interest Periods.

• The Administrative Agent shall promptly notify each Lender having submitted a Competitive Bid whether or not its offer has been accepted and, if its offer has been accepted, of the amount of the Bid Loan or Bid Loans to be made by it on the date of the applicable Bid Borrowing.

• After each Competitive Bid auction pursuant to this Section 2.03, the Administrative Agent shall notify each Lender that submitted a Competitive Bid in such auction of the ranges of bids submitted (without the bidder’s name) and accepted for each Bid Loan and the aggregate amount of each Bid Borrowing.

• No Lender shall be relieved of its obligation to fund a Competitive Bid Loan, and no Designated Lender shall assume such obligation, prior to the time such Competitive Bid Loan is funded.

• Any Designated Lender which funds a Competitive Bid Loan shall on and after the time of such funding become the obligee under such Competitive Bid Loan and be entitled to receive payment thereof when due.

More Definitions of Bid Loan

Bid Loan is defined in Section 2.2(a).

Bid Loan means a Revolving Loan by a Bank or a Designated Bidder to one or more of the Companies under SECTION 2.6.

Bid Loan means a Loan by a Bank to the Company under Section 2.5, which may be a LIBOR Bid Loan or an Absolute Rate Bid Loan.

Bid Loan each Bid Loan made pursuant to subsection 2.2.

Bid Loan each Bid Loan made pursuant to Section 4.

Bid Loan means a loan by a Bank pursuant to Section 2.3.

Bid Loan each advance made to the Company pursuant to subsection 2.18.