Competitive Bid Borrowing definition

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 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 auction bidding procedure described in Section 2.03.

Competitive Bid Borrowing means a Borrowing of Competitive Bid Loans pursuant to Section 1.04.

Examples of Competitive Bid Borrowing in a sentence

• Each Notice of Competitive Bid Borrowing shall be irrevocable and binding on such Borrower.

• Each Lender severally agrees that any Borrower may make Competitive Bid Borrowings under this Section 2.07 from time to time on any Business Day during the period from the Effective Date until 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.

• Each Borrower that has borrowed through a Competitive Bid Borrowing shall pay interest on the unpaid principal amount of each Competitive Bid Advance from the date of such Competitive Bid Advance to the date the principal amount of such Competitive Bid Advance is repaid in full, at the rate of interest for such Competitive Bid Advance and on the interest payment date or dates set forth in the Competitive Bid Note evidencing such Competitive Bid Advance.

• Within the limits and on the conditions set forth in this Section 2.07, any Borrower may from time to time borrow under this Section 2.07, prepay pursuant to Section 2.11 or repay pursuant to Section 2.07(h), and reborrow under this Section 2.07; provided that a Competitive Bid Borrowing shall not be made within two Business Days of the date of any other Competitive Bid Borrowing.

• 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.

More Definitions of Competitive Bid Borrowing

Competitive Bid Borrowing has the meaning assigned to such term in Section 2.5(b) hereof.

Competitive Bid Borrowing has the meaning set forth in Section 1.03.

Competitive Bid Borrowing means each borrowing of any Competitive Bid Loan.

Competitive Bid Borrowing shall have the meaning set forth in Section 2.03(b) hereof.

Competitive Bid Borrowing means a borrowing consisting of one or more Competitive Bid Loans made pursuant to section 2.3.

Competitive Bid Borrowing means a Borrowing comprised of Competitive Bid Loans.

Competitive Bid Borrowing means the borrowing by the Borrower on a single ------------------------- date of any one or more Competitive Bid Loans as to which a single Interest Period is in effect in accordance with the provisions of Section 2.4.