Competitive Bid Reduction definition

Competitive Bid Reduction has the meaning specified in Section 2.01.
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Competitive Bid Reduction means, at any time, the deemed use of each Lender’s Tranche A Commitment in an amount equal to such Lender’s Pro Rata Share of all outstanding Competitive Bid Advances at such time.
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Competitive Bid Reduction shall have the meaning provided in section 2.1.
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Examples of Competitive Bid Reduction in a sentence

  • 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.

  • 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.

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  • Promptly after each Competitive Bid Borrowing, JPMCB, as 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.

  • Promptly after each Competitive Bid Borrowing the Agent will notify each Lender of the amount of such 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.

  • Promptly after each Competitive Bid Borrowing, the Administrative Agent will notify each Revolving 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 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 and the range of interest rates with respect to the Competitive Bid Advances made as part of such Competitive Bid Borrowing.

  • To the extent that, after giving effect to any reduction thereof pursuant to Section 2.10(b), the aggregate principal amount ofthe 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.

  • Promptly after each Competitive Bid Borrowing, Chase, as 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.


More Definitions of Competitive Bid Reduction

Competitive Bid Reduction means, at any time, the deemed use of each Lender's Commitment in an amount equal to such Lender's Pro Rata Share of all outstanding Competitive Bid Advances at such time.
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Competitive Bid Reduction means the reduction in the aggregate Commitments resulting from the aggregate outstanding principal amount of all Competitive Bid Advances as provided in clause (b)(iii) of the definition of “Unused Commitment.”
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Competitive Bid Reduction as to any Lender on any date, an amount equal to such Lender's Commitment Percentage of the aggregate principal amount of all Competitive Bid Loans outstanding on such date (after giving effect to the payment of any Competitive Bid Loans to be paid on such date).
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Competitive Bid Reduction shall have the meaning provided in section
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Related to Competitive Bid Reduction

  • Competitive Bid Request means a request by the Borrower for Competitive Bids in accordance with the provisions of Section 2.2(b).

  • 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.

  • Competitive Bid Loan means a Competitive Bid LIBOR Loan or a Competitive Bid Absolute Rate Loan.

  • Competitive Bid Margin has the meaning set forth in Section 2.03(d).

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

  • Competitive Bid Advance means an advance by a Lender to any 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.

  • 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 2.03.

  • 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.

  • Competitive bidding means a transparent process for procurement of equipment, services and works in which bids are invited by the project developer by open advertisement covering the scope and specifications of the equipment, services and works required for the project, and the terms and conditions of the proposed contract as well as the criteria by which bids shall be evaluated, and shall include domestic competitive bidding and international competitive bidding;

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

  • Open Competitive Bidding means a fair and transparent specified procedure defined under these Rules, advertised in the prescribed manner, leading to the award of a contract whereby all interested persons, firms, companies or organizations may bid for the contract and includes both National and International Competitive Biddings;

  • Competitive Bid Quote Request means a Competitive Bid Quote Request substantially in the form of Exhibit C hereto completed and delivered by the Borrower to the Administrative Agent in accordance with Section 2.3.2.

  • Competitive Bid Accept/Reject Letter means a notification made by a Borrower pursuant to Section 2.03(d) in the form of Exhibit A-4.

  • Competitive Bid Quote means a response submitted by a Lender to the Administrative Agent or the Borrower, as the case may be with respect to an Invitation for Competitive Bid Quotes in the form attached as Exhibit C-3.

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

  • Invitation for Competitive Bid Quotes means an Invitation for Competitive Bid Quotes substantially in the form of Exhibit 2.2(c).

  • competitive bidding process means a competitive bidding process referred to in paragraph 12 (1) (d) of this Policy;

  • Competitive Borrowing means a Borrowing consisting of a Competitive Loan or concurrent Competitive Loans from the Lender or Lenders whose Competitive Bids for such Borrowing have been accepted by the Borrower under the bidding procedure described in Section 2.03.

  • 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.

  • Bid Borrowing means a borrowing consisting of simultaneous Bid Loans of the same Type from each of the Lenders whose offer to make one or more Bid Loans as part of such borrowing has been accepted under the auction bidding procedures described in Section 2.03.

  • Bid Loan Lender means, in respect of any Bid Loan, the Lender making such Bid Loan to the Company.

  • Competitive Loan means a Loan made pursuant to Section 2.04.

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

  • Competitive Loan Exposure means, with respect to any Lender at any time, the sum of the aggregate principal amount of all outstanding Competitive Loans made by such Lender.

  • Notice of Revolving Borrowing shall have the meaning as set forth in Section 2.3.