Bid Reduction definition

Bid Reduction has the meaning specified in Section 2.1(a).
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Examples of Bid Reduction in a sentence

  • The Borrowers may make Bid Borrowings from time to time on any Business Day during the period from the date hereof until the Termination Date in the manner set forth below, provided that, following the making of each Bid Borrowing, the aggregate amount of the Advances then outstanding shall not exceed the aggregate amount of the Commitments of the Lenders (computed without regard to the Bid Reduction).

  • The Borrower shall, on each Business Day, prepay an aggregate principal amount of the Advances equal to the amount by which (A) the aggregate principal amount of the Advances then outstanding exceeds (B) the aggregate of the Commitments (after giving effect to any Competitive Bid Reduction) on such Business Day.

  • Promptly after each Competitive Bid Borrowing the Administrative Agent will notify each Lender of the amount of the Competitive Bid Borrowing, the consequent Competitive Bid Reduction and the dates upon which such Competitive Bid Reduction commenced and will terminate.

  • A Borrower shall, on each Business Day, prepay an aggregate principal amount of the Advances equal to the amount by which (A) the aggregate principal amount of the Advances then outstanding exceeds (B) the aggregate of the Commitments (after giving effect to any Competitive Bid Reduction) on such Business Day.

  • The Borrower shall, on each Business Day, prepay an aggregate principal amount of the Advances equal to the amount by which (A) the aggregate principal amount of the Advances then outstanding exceeds (B) the aggregate of the Commitments (after giving effect to any Competitive Bid Reduction and Section 2.10(b)) on such Business Day.

  • Within the limits of each Bank's Unused Commitment (as deemed reduced by the Competitive Bid Reduction) in effect from time to time, the Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.09 and reborrow under this Section 2.01(a).

  • The Borrower shall, on each Business Day, prepay an aggregate principal amount of the Advances equal to the amount by which (A) the aggregate principal amount of the Advances then outstanding exceeds (B) the aggregate of the Commitments (after giving effect to the Competitive Bid Reduction and Section 2.10(b)) on such Business Day.

  • Promptly after each Competitive Bid Borrowing the Agent will notify each Lender of the amount of the Competitive Bid Borrowing, the consequent Competitive Bid Reduction and the dates upon which such Competitive Bid Reduction commenced and will terminate.

  • Promptly after each Bid Borrowing the Administrative Agent will notify each U.S. Lender of the amount of the Bid Borrowing, the consequent Bid Reduction and the dates upon which such Bid Reduction commenced and will terminate.

  • To the extent that, after giving effect to any reduction thereof pursuant to Section 2.10(b), the aggregate principal amount of the Pro Rata Advances are greater than the Commitments (after giving effect to any Competitive Bid Reduction), Kraft shall prepay or cause to be prepaid Pro Rata Advances in an amount equal to the amount of such excess.

Related to Bid Reduction

  • Competitive Bid Reduction has the meaning specified in Section 2.01.

  • Aggregate Reduction has the meaning specified in Section 1.3.

  • Proposed Reduction Date has the meaning set forth in Section 1.3.

  • Competitive Bid Margin means the margin above or below the applicable Eurodollar Base Rate offered for a Eurodollar Bid Rate Loan, expressed as a percentage (rounded to the nearest 1/100 of 1%) to be added or subtracted from such Eurodollar Base Rate.

  • Aggregate Revolving Committed Amount has the meaning provided in Section 2.01(a).

  • Competitive Bid Request means a request by the Borrower for Competitive Bids in accordance with Section 2.04.

  • Competitive Bid Rate means, with respect to any Competitive Bid, the Margin or the Fixed Rate, as applicable, offered by the Lender making such Competitive Bid.

  • Bid Request means a written request for one or more Bid Loans substantially in the form of Exhibit B-1.

  • Competitive Bid Borrowing means a borrowing consisting of simultaneous Competitive Bid Advances from each of the Lenders whose offer to make one or more Competitive Bid Advances as part of such borrowing has been accepted under the competitive bidding procedure described in Section 2.07.

  • Committed Amount shall have the meaning assigned thereto in the Pricing Side Letter.

  • Salary Reduction means the amount by which the Participant's Compensation is reduced and applied by the Employer under this Plan to pay for one or more of the Benefits, as permitted for the applicable Component, before any applicable state and/or federal taxes have been deducted from the Participant's Compensation (i.e., on a pre-tax basis).

  • Submitted Amount has the meaning set forth in Section 2.05(a)(v)(C)(1).

  • Competitive Bid means an offer by a Lender to make a Competitive Loan in accordance with Section 2.04.

  • Notice of Competitive Bid Borrowing has the meaning specified in Section 2.03(a).

  • Reduction Notice has the meaning set forth in Section 1.3.

  • Competitive Bid Loan means a Eurodollar Bid Rate Loan or an Absolute Rate Loan, or both, as the case may be.

  • Competitive Bid Advance means an advance by a Lender to the Borrower as part of a Competitive Bid Borrowing resulting from the competitive bidding procedure described in Section 2.03 and refers to a Fixed Rate Advance or a LIBO Rate Advance.

  • Increased Amount of any Indebtedness shall mean any increase in the amount of such Indebtedness in connection with any accrual of interest, the accretion of accreted value, the amortization of original issue discount, the payment of interest in the form of additional Indebtedness with the same terms, accretion of original issue discount or liquidation preference and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies or increases in the value of property securing Indebtedness.

  • Revolving Committed Amount shall have the meaning set forth in Section 2.1(a).

  • Increase Amount is defined in Section 2.3(a).

  • Competitive Bid Note means a promissory note of any Borrower payable to the order of any Lender, in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of such Borrower to such Lender resulting from a Competitive Bid Advance made by such Lender to such Borrower.

  • Eurodollar Competitive Loan means any Competitive Loan bearing interest at a rate determined by reference to the LIBO Rate in accordance with the provisions of Article II.