Bid Advances Sample Clauses

Bid Advances. Each Bid Advance shall bear interest on the ------------ outstanding principal amount thereof from the Borrowing date at a rate per annum equal to the Eurocurrency Rate plus (or minus) the Eurocurrency Rate Bid Margin, or at the Absolute Rate, as the case may be; provided, however, that during any -------- ------- period in which an Event of Default has occurred and is continuing (but only so long as such Event of Default is continuing), the Borrower shall pay interest on the unpaid principal amount of each such Bid Advance made to it, payable from the date such Event of Default occurs and upon written demand by the Lender of such Bid Advance, at the rate of 2% per annum above the rate otherwise applicable in effect at the time of the occurrence of such Event of Default, until the last day of the then current Interest Period for such Advance, and thereafter at the Default Rate in effect from time to time.
Sample 1
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Bid Advances. 3.4.1 Each Lender severally agrees that the Borrower may make Bid Borrowings under this Section 3.4 from time to time on any Business Day during the period from the Initial Funding Date until the date occurring one (1) month (or, in the case of Fixed Rate Advances, thirty (30) days) prior to the Revolving Loan Commitment Termination Date in the manner set forth below; provided that (i) no Bid Borrowing may be requested or made until such time as US$1,700,000,000 in original aggregate principal amount of Advances, Canadian Term Loans and Canadian Revolving Loans have been made under this Agreement and the Canadian Credit Agreement and (ii) following the making of each Bid Borrowing, the Total Utilization of Revolving Loan Commitments (after giving effect to any Money Market Reduction) shall not exceed the aggregate Revolving Loan Commitments of all Lenders.
Sample 1
Bid Advances. (1) Each Lender severally agrees that, subject to the conditions that at the time of Borrower's submission of the relevant Competitive Bid Request, (a) Borrower's Long Term Unsecured Senior Debt Rating is equal to or higher than BBB-/Baa3 and (b) no Event of Default or Unmatured Event of Default has occurred and is continuing, Borrower may, in accordance with this Section 2.1(a)(ii) and the other relevant provisions of the Loan Documents, from time to time request that the Lenders, at any time before the 32nd day prior to the Maturity Date, submit Competitive Bids to make Bid Advances to Borrower, provided; provided, however, that (A) at no time shall the aggregate principal amount of all outstanding Bid Advances cause the aggregate principal amount of all outstanding Advances (taking into account any repayments of Advances with the proceeds thereof) to exceed the applicable dollar limitations of Sections 2.1(a)(i) above; (B) at no time shall the aggregate outstanding principal amount of all Bid Advances (taking into account any repayments of Advances with the proceeds thereof) exceed the Bid Advance Limit; (3) at no time may the number of Fixed Rate Periods of then outstanding Fixed Rate Advances and Absolute Rate Bid Advances exceed eight, in each case giving effect to any Bid Advances then requested; and (C) Borrower shall not issue a Competitive Bid Request for a Bid Advance having a term of other than 30, 60 or 90 days or a maturity date subsequent to the Maturity Date.
Sample 1
Bid Advances. Each Lender severally agrees that,
Sample 1
Bid Advances. 2.1.2.1.1. Each Lender severally agrees that, subject to the conditions that at the time of the Borrower's submission of the relevant Competitive Bid Request no Default or Event of Default has occurred and is continuing, the Borrower may, in accordance with this SECTION 2.1.2. and the other relevant provisions of the Loan Documents, from time to time request that the Lenders, at any time before the 32nd day prior to the Maturity Date, submit Competitive Bids to make Bid Advances to the Borrower; PROVIDED, HOWEVER, that (X) at no time shall the Commitment Usage of all Lenders at any time, in the aggregate, exceed the aggregate Commitments of all Lenders; (y) at no time shall the aggregate principal amount of all Bid Advances exceed the Bid Advance Limit; and (Z) at no time may the number of Fixed Rate Periods of then outstanding Fixed Rate Advances and Absolute Rate Bid Advances exceed eight, in each case giving effect to any Bid Advances then requested.
Sample 1
Bid Advances. 3.4.1 Each Lender severally agrees that the Borrower may make Bid Borrowings under this Section 3.4 from time to time on any Business Day during the period from the Initial Funding Date until the date occurring one (1) month (or, in the case of Fixed Rate Advances, thirty (30) days) prior to the Revolving Loan Commitment Termination Date in the manner set forth below; provided that (i) no Bid Borrowing may be requested or made until such time as US$1,700,000,000 in original aggregate principal amount of Advances, US Term Loans and US Revolving Loans have been made under this Agreement and the US Credit Agreement and (ii) following the making of each Bid Borrowing, the Total Utilization of Revolving Loan Commitments (after giving effect to any Money Market Reduction) shall not exceed the aggregate Revolving Loan Commitments of all Lenders.
Sample 1

Related to Bid Advances

  • Competitive Bid Advances Each Borrower shall repay to the Administrative Agent, for the account of each Lender that has made a Competitive Bid Advance, the aggregate outstanding principal amount of each Competitive Bid Advance made to such Borrower and owing to such Lender on the earlier of (i) the maturity date therefor, specified in the related Notice of Competitive Bid Borrowing delivered pursuant to Section 2.03(a)(i) and (ii) the Termination Date.

  • The Competitive Bid Advances (a) Each Lender severally agrees that the Borrower may make Competitive Bid Borrowings under this Section 2.03 from time to time on any Business Day during the period from the date hereof until the date occurring 30 days prior to the Termination Date in the manner set forth below; provided that, following the making of each Competitive 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 any Competitive Bid Reduction).

  • Bid Loans The Company shall repay each Bid Loan on the last day of the Interest Period in respect thereof.

  • Bid Rate Loans The Borrower shall repay the entire outstanding principal amount of, and all accrued but unpaid interest on, each Bid Rate Loan on the last day of the Interest Period of such Bid Rate Loan.

  • Competitive Loans Notwithstanding the foregoing provisions of this Section, a Lender shall not be entitled to compensation pursuant to this Section in respect of any Competitive Loan if the Change in Law that would otherwise entitle it to such compensation shall have been publicly announced prior to submission of the Competitive Bid pursuant to which such Loan was made.

  • Competitive Bid Loans Subject to the terms and conditions set forth herein, a Borrower may, from time to time, during the period from the Closing Date until the date occurring seven days prior to the Maturity Date, request and each Lender may, in its sole discretion, agree to make Competitive Bid Loans to such Borrower; provided, however, that (A) the sum of the aggregate amount of Revolving Loans outstanding plus the aggregate amount of Competitive Bid Loans outstanding to the Borrowers on any day shall not exceed the Revolving Loan Commitment and (B) if a Lender makes a Competitive Bid Loan, such Lender’s obligation to make its pro rata share of any Revolving Loan shall not be reduced thereby.

  • Competitive Bid Borrowings (a) Whenever a Borrower desires to incur a Competitive Bid Borrowing, it shall deliver to the Administrative Agent at the Notice Office prior to 11:00 A.M. (New York time), at least three Business Days prior to the date of such proposed Competitive Bid Borrowing, a written notice substantially in the form of Exhibit B (each, a “Notice of Competitive Bid Borrowing”), such notice to specify in each case (i) the date (which shall be a Business Day) of the proposed Competitive Bid Borrowing, (ii) the aggregate principal amount of the proposed Competitive Bid Borrowing (stated in the relevant Available Currency), which shall not be less than the Minimum Borrowing Amount applicable thereto, (iii) the maturity date (each, a “Competitive Bid Loan Maturity Date”) for repayment of each Competitive Bid Loan to be made as part of such Competitive Bid Borrowing (which maturity date may not be earlier than seven days after the date of such Competitive Bid Borrowing or later than 360 days after the date of such Competitive Bid Borrowing (but in no event later than the thirtieth day preceding the Maturity Date)), (iv) the interest payment date or dates relating thereto (which shall be at least every three months in the case of maturities in excess of three months), and (v) any other terms to be applicable to such Competitive Bid Borrowing (although all Competitive Bid Borrowings shall be required to be made, and maintained, in an Available Currency). The Administrative Agent shall promptly notify each Bidder RL Lender of each such request for a Competitive Bid Borrowing received by it from a Borrower by transmitting (by way of facsimile) to each such Bidder RL Lender a copy of the related Notice of Competitive Bid Borrowing.

  • Revolving Credit Advances The Borrower shall repay to the Administrative Agent for the ratable account of the Lenders on the Termination Date the aggregate outstanding principal amount of the Revolving Credit Advances then outstanding.

  • LIBOR Advances The interest rate applicable to each LIBOR Advance shall be determined in accordance with Section 3.6(a) hereunder. Subject to Sections 3.6 and 3.7, such rate shall apply during the entire Interest Period applicable to such LIBOR Advance, and interest calculated thereon shall be payable on the Interest Payment Date applicable to such LIBOR Advance.

  • The Revolving Credit Advances Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Credit Advances to the Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date applicable to such Lender in an aggregate amount (based in respect of any Revolving Credit Advances to be denominated in a Committed Currency on the Equivalent in Dollars determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) not to exceed at any time outstanding such Lender’s Commitment, provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount (based in respect of any Competitive Bid Advance denominated in a Foreign Currency on the Equivalent in Dollars at such time) of the Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a “Competitive Bid Reduction”). Each Revolving Credit Borrowing shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof (or the Equivalent thereof in any Committed Currency determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) and shall consist of Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.10 and reborrow under this Section 2.01.

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