Competitive Bid Borrowing Request definition
Examples of Competitive Bid Borrowing Request in a sentence
The Administrative Agent shall promptly, but in any event on the same Business Day, notify each Lender of its receipt of a Competitive Bid Borrowing Request and the principal amounts of the Competitive Bid Loans allocated to each participating Lender.
The Administrative Agent shall immediately advise the Lenders making the accepted offers of the contents of the Competitive Bid Borrowing Request.
The Administrative Agent shall promptly notify (by telephone or otherwise, to be promptly confirmed by telecopy or other writing) each Lender of each Competitive Bid Borrowing Request received by it and the terms contained in such Competitive Bid Borrowing Request.
The Borrower shall repay to the Administrative Agent for the account of each Participating Lender which has made a Competitive Bid Advance on the last day of the Interest Period for such Competitive Bid Advance (such Interest Period being that specified by the Borrower in the related Competitive Bid Borrowing Request delivered pursuant to Section 2.4(b) above) the then unpaid principal amount of such Competitive Bid Advance.
The Company shall repay to the Operating Agent, at the Payment Office and otherwise in accordance with Section 2.14, for account of each Bank which shall have made a Competitive Bid Advance and on the date for the repayment thereof (as specified by the Company in the related Competitive Bid Borrowing Request delivered pursuant to paragraph (b) above) the principal amount of such Competitive Bid Advance.
If the Company shall cancel or be deemed to cancel a Competitive Bid Borrowing Request pursuant to paragraph (d) above, the Competitive Bid Agent shall give prompt notice thereof to the Banks and the Competitive Bid Advances requested thereby shall not be made.
If the Borrower notifies the Administrative Agent that a Competitive Bid Borrowing Request is cancelled pursuant to paragraph (d)(i) above, the Administrative Agent shall give prompt notice (by telephone or otherwise, to be promptly confirmed by telecopy or other writing) thereof to the Lenders and such Competitive Bid Borrowing shall not be made.
With respect to each borrowing of a Revolving Credit Loan, the Administrative Agent shall have received a Conventional Borrowing Request or a Competitive Bid Borrowing Request, as the case may be, duly executed by an Authorized Signatory of the Borrower.
In the case of acceptance, such notice (a "Competitive Bid Borrowing Request") shall specify the aggregate principal amount of offers for each Interest Period that are accepted and the applicable interest rate.
With respect to any request for Loans or the issuance of a Letter of Credit, the Agent shall have received an R/C Borrowing Request, a Liquidity Borrowing Request, a Competitive Bid Borrowing Request or L/C Issuance Request, as the case may be, duly executed by an Authorized Signatory of the Company, accompanied by, with respect to each request for a Letter of Credit, an Application for Letter of Credit.