Competitive Advance definition

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

Competitive Advance means an Advance made to Borrower or any Co-Borrower under the Revolving Commitment by any Lender not determined by that Lender's Pro Rata Share of the Revolving Commitment pursuant to Section 2.5.

Competitive Advance means an advance by a Lender to the Borrower as part of a Competitive Borrowing and refers to a Fixed Rate Competitive Advance or a Eurodollar Competitive Advance (each of which shall be a "Type" of Competitive Advance).

Examples of Competitive Advance in a sentence

• The Administrative Agent shall notify each Bank promptly by facsimile transmission of the contents of each Competitive Advance Loan Request received by the Administrative Agent.

• Each Specified Borrower hereby further agrees to pay interest on the unpaid principal amount of the Competitive Advance Loans made by any Bank to such Specified Borrower from time to time outstanding from the date thereof until payment in full thereof at the rate per annum, and on the dates, agreed by such Specified Borrower and Bank at the time such Competitive Advance Loan is made.

• Each Bank may elect, in its sole discretion, to offer irrevocably to make one or more Competitive Advance Loans to the Specified Borrower by delivering a Competitive Advance Loan Offer to the Administrative Agent.

• Subject to the foregoing, any Bank may, in its sole discretion, make Competitive Advance Loans in an aggregate outstanding amount exceeding the amount of such Bank's Commitment.

• The Competitive Bid Request must be received by the Agent not later than 10:00 a.m. on a Business Day that is at least four (4) Business Days prior to the date of the proposed Competitive Advance.

More Definitions of Competitive Advance

Competitive Advance means a Loan made to Borrower by any Lender not determined by that Lender's Commitment Percentage pursuant to Section 2.3.

Competitive Advance means an Advance made to Borrower by any Lender not determined by that Lender’s Commitment Percentage pursuant to Section 2.4.

Competitive Advance means an Advance made to a Borrower by any Lender not determined by that Lender's Pro Rata Share pursuant to Section 2.5.

Competitive Advance means an advance by a Lender to a Borrower pursuant to Section 2.03 made on the basis of a Competitive Bid by such Lender.

Competitive Advance and "Interest Period" have the meanings specified in the Credit Agreement. The Borrower promises to pay interest on the unpaid principal amount of each Competitive Advance from the date of such Advance until such principal amount is paid in full, at such interest rates and in such currency, and payable at such times, as are determined in accordance with the Credit Agreement. Both principal and interest are payable (i) if in Dollars, in lawful money of the United States of America and in same day funds to the order of the Lender at the office of The First National Bank of Chicago (the "Funding Agent"), 0 Xxxxx Xxxxxxxx Xxxxx, Xxxxxxx, Xxxxxxxx 00000, as notified from time to time by the Lender to the Borrower or (ii) if in an Alternative Currency, in such funds as may then be customary for the settlement of international transactions in such Alternative Currency at the place specified for payment thereof pursuant to the Credit Agreement. Each Competitive Advance made by the Lender to the Borrower pursuant to the Credit Agreement and the maturity thereof, and, in the case of Alternative Currency Advances, the currency thereof, and all payments made on account of principal hereof, shall be recorded by the Lender and, prior to any transfer hereof, endorsed on the grid attached hereto which is part of this Promissory Note, provided that the failure of the Lender to do so shall not affect the obligations of the Borrower hereunder. This Promissory Note is one of the Competitive Notes referred to in, and is entitled to the benefits of, the Revolving Credit Agreement, dated as of October 22, 1997 (as in effect from time to time, the "Credit Agreement"), among Xerox Corporation, Xerox Credit Corporation, the Overseas Borrowers from time to time party thereto, the Lender and certain other lenders parties thereto and the Arrangers and Agents named therein. The Credit Agreement, among other things, (i) provides for the making of Competitive Advances by the Lender to the Borrower from time to time in an aggregate amount not to exceed at any time outstanding the U.S. dollar amount provided for therein, the indebtedness of the Borrower resulting from each such Competitive Advance being evidenced by this Promissory Note, and (ii) contains provisions for acceleration of the maturity hereof upon the happening of certain stated events and also for prepayments on account of principal hereof prior to the maturity hereof upon the terms and conditions therein specified. [NAME OF ...

Competitive Advance means an Advance made to any Borrower by any Bank not in accordance with that Bank's Pro Rata Share of the Tranche A Commitment pursuant to Section 2.4.

Competitive Advance means a US Competitive Advance or a Canadian Competitive Advance.