Bid Loans Clause Samples

Bid Loans. (a) Each Bank severally agrees that the Company may request Bid Borrowings denominated in Dollars comprised of either Absolute Rate Bid Loans or Eurodollar Rate Bid Loans under this Section 1.04 to be made from time to time on any Business Day during the period from the Effective Date until the date occurring one day prior to the Final Maturity Date, in the manner set forth below; provided that, following the making of each Bid Borrowing, the aggregate Original Dollar Amount of all Loans outstanding hereunder plus the aggregate amount of all Letter of Credit Outstandings at such time shall not exceed the Total Commitment in effect at such time. Each Bid Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. (i) The Company may request a Bid Borrowing by delivering to the Administrative Agent by telecopier or telex, a notice of a Bid Borrowing (a "Notice of Bid Borrowing"), in substantially the form of Exhibit A-2 hereto, specifying the date and aggregate amount of the proposed Bid Borrowing, whether such Bid Borrowing is to consist of Absolute Rate Bid Loans or Eurodollar Rate Bid Loans, the maturity date for repayment of each Bid Loan to be made as part of such Bid Borrowing (which maturity date may be the date occurring between one and 180 days after the date of such Bid Borrowing, in the case of Absolute Rate Bid Loans, and one, two, three or six months after the date of such Bid Borrowing, in the case of Eurodollar Rate Bid Loans, and in any case no later than the Final Maturity Date), the interest payment date or dates relating thereto (which shall occur at least every 3 months, in the case of Eurodollar Rate Bid Loans, and at least every 90 days, in the case of Absolute Rate Bid Loans), and any other terms to be applicable to such Bid Borrowing, not later than 9:00 A.M. (New York time) (A) at least one Business Day prior to the date of the proposed Bid Borrowing, in the case of an Absolute Rate Bid Loan and (B) at least five Business Days prior to the date of the proposed Bid Borrowing, in the case of a Eurodollar Rate Bid Loan. The Company may request Bid Borrowings for more than one maturity date in a single Notice of Bid Borrowing. The Administrative Agent shall in turn promptly notify each Bank of each request for a Bid Borrowing received by it from the Company by sending such Bank a copy of the related Notice of Bid Borrowing. (ii) Each Bank may, if, in its sole discretion, it ...

Bid Loans. All outstanding Bid Loans shall be paid in full on the maturity date thereof as provided in the applicable Bid Loan Quote Request but, in any event, not later than the Maturity Date for the Revolving Facility.

Bid Loans. No Bid Loan may be prepaid without the prior consent of the applicable Bid Loan Lender.

Bid Loans. Principal. The principal balance of each Bid Loan shall be due and payable in full on the last day of the Interest Period applicable thereto. To the extent that the Agent receives funds for application to the amounts owing by the Borrower under or in respect of this Agreement or any Revolving Note in currencies other than the currency or currencies required to enable the Agent to distribute funds to the Banks in accordance with the terms of this Section 6.2, the Agent shall be entitled to convert or exchange such funds into Dollars or into a Committed Currency or from Dollars to a Committed Currency or from a Committed Currency to Dollars, as the case may be, to the extent necessary to enable the Agent to distribute such funds in accordance with the terms of this Section 6.2; provided that the Borrower and each of the Banks hereby agree that the Agent shall not be liable or responsible for any loss, cost or expense suffered by the Borrower or such Bank as a result of any conversion or exchange of currencies effected pursuant to this Section 6.2 or as a result of the failure of the Agent to effect any such conversion or exchange, except for such loss, cost or expense due to the Agent’s negligence, gross negligence or willful misconduct; and provided further that the Borrower agrees to indemnify the Agent and each Bank, and hold the Agent and each Bank harmless, for any and all losses, costs and expenses incurred by the Agent or any Bank for any conversion or exchange of currencies (or the failure to convert or exchange any currencies) in accordance with this Section 6.2 except for such losses, costs or expenses due to the Agent’s or Bank’s negligence, gross negligence or willful misconduct.

Bid Loans. The Borrower may not prepay any Bid Loan before its maturity.

Bid Loans. A. BID LOAN BORROWINGS. In addition to Committed Borrowings pursuant to Section 2.1, each Bank severally agrees that the Borrower may, as set forth in Section 2.2B, from time to time request the Banks during the period from the Effective Date until the Maturity Date to submit offers to make Bid Loans to the Borrower; provided, however, that the Banks may, but shall have no obligation -------- ------- to, submit such offers and the Borrower may, but shall have no obligation to, accept any such offers; and provided further that (a) at no time shall the -------- ------- outstanding aggregate principal amount of all Bid Loans made by all Banks, plus ---- the outstanding aggregate principal amount of all Committed Loans made by all Banks exceed the aggregate Commitments then in effect; (b) at no time shall the number of different Interest Periods for Bid Loans then outstanding plus the ---- number of different Interest Periods for Committed Loans then outstanding exceed ten (10); and (c) at no time shall the outstanding aggregate principal amount of all Bid Loans made by all Banks exceed the aggregate Commitments then in effect. At the discretion of the Borrower, any Bid Loan auction may be either an Agent Auction conducted in accordance with the terms set forth below for an Agent Auction, or a Borrower Auction conducted in accordance with the terms set forth below for a Borrower Auction.

Bid Loans. The Revolving Borrower shall repay each Bid Loan on the last day of the relevant Interest Period.

Bid Loans. The Borrowers shall repay in full the unpaid principal amount of each Bid Loan upon the Stated Maturity Date therefor. Prior thereto, the Borrowers: (a) may not prepay any Bid Loan; and (b) shall, immediately upon any acceleration of the Stated Maturity Date of any Bid Loan pursuant to Section 8.2 or 8.3, repay or prepay all Bid Loans unless, pursuant to Section 8.3, only a portion of all Bid Loans is so accelerated.

Bid Loans. Subject to Section 2.4(e), with respect to any Bid of any Lender, if such Lender shall have received notice from the Administrative Agent in accordance with such Section that such Bid has been accepted by the applicable Borrower, and if such Bid has been accepted by such Borrower, in whole or in part, then such Lender shall make immediately available funds in the applicable Currency and in the amount in which such Bid was so accepted available, (i) in the case of Dollar Bid Loans, to the Administrative Agent at the applicable Agent Payment Office, and (ii) in the case of Alternate Currency Bid Loans, (A) directly to such Borrower, or (B) upon the occurrence and during the continuance of an Event of Default, if directed by the Required Lenders and with the consent of the Administrative Agent, to the Administrative Agent at the applicable Agent Payment Office, in each case no later than 12:00 noon (local time in the city in which such funds are to be made available in accordance with the terms hereof) on the proposed Borrowing Date. The Administrative Agent will make available to such Borrower at the applicable Agent Payment Office, in the applicable Currency, and in immediately available funds, the aggregate of the amount so made available by such Lender prior to 2:00 p.m. (such local time) on such Borrowing Date and to the extent of funds actually received by the Administrative Agent.