Common use of Bids Clause in Contracts

Bids. Each Bank may, in its sole discretion, offer to make a Bid Loan or Loans (a "Bid") to the relevant Borrower responsive to the Bid Loan Request. Each Bid by a Bank must be received by the Administrative Agent in the form of Exhibit H (each, a "Confirmation of Bid") delivered by telecopier not later than (i) 9:30 a.m. (Chicago time) on the proposed Borrowing Date in the case of a bid for a Stated Rate Bid Loan and (ii) 1:00 p.m. (Chicago time) four Business Days prior to the proposed Borrowing Date in the case of a bid for a Eurocurrency Bid Loan; provided, however, that any Bid made by the Administrative Agent must be made by telecopy to the Company by no later than fifteen minutes prior to the time that bids from the other Banks are required to be received. Each Bid and each Confirmation of Bid shall refer to this Agreement and specify (i) the principal amount of each Bid Loan that the Bank is willing to make to the applicable Borrower and the type of Bid Loan (i.e., Stated Rate or Eurocurrency), (ii) the interest rate (which shall be computed on the basis of a year of 365 or 366 days, as applicable, for the actual number of days elapsed in the case of Stated Rate Bid Loans and, in the case of a Eurocurrency Bid Loan, shall be computed on the basis of a year of 360 days and actual days elapsed and expressed in terms of a percentage margin to be added to or subtracted from the applicable LIBOR for the Interest Period to be applicable to such Eurocurrency Bid Loan) at which the Bank is prepared to make each Bid Loan, (iii) the currency of such Bid Loan (which shall be denominated in either U.S Dollars or an Alternative Currency), (iv) the Interest Period applicable thereto, (v) the jurisdiction in which such Bid Loan is to be disbursed and (vi) the jurisdiction in which payments on such Bid Loan are to be made. The Administrative Agent shall reject any Bid if such Bid (i) does not specify all of the information

Bids. Each Bank may, in its sole discretion, offer to make a Bid Loan or Bid Loans (a "Bid") to the relevant Borrower responsive to the Bid Loan Request. Each Bid by a Bank must be received by the Administrative Agent in the form of Exhibit H (each, a "Confirmation of Bid") delivered by telecopier telephone not later than (i) 9:30 8:45 a.m. (Chicago time) on the proposed Borrowing Date Business Day following the date the Administrative Agent receives a Bid Loan Request from the Borrower (the "Auction Date"), promptly confirmed in writing by a duly completed Confirmation of Bid delivered by telecopier or other means of facsimile communication substantially in the case form of a bid for a Stated Rate Bid Loan and (ii) 1:00 p.m. (Chicago time) four Business Days prior Exhibit E hereto, to be received by the proposed Borrowing Date in Administrative Agent on the case of a bid for a Eurocurrency Bid Loansame day; provided, however, that any Bid made by the Administrative Agent must be made by telecopy telephone to the Company Borrower by no later than fifteen minutes prior to the time that bids Bids from the other Banks are required to be received. Each Bid and each Confirmation of Bid shall refer to this Agreement and specify (i) the principal amount of each Bid Loan that the Bank is willing to make to the applicable Borrower and the type of Bid Loan (i.e., Stated Rate or EurocurrencyEurodollar), (ii) the interest rate (which shall be computed on the basis of a 360-day year of 365 or 366 days, as applicable, for the and actual number of days elapsed in the case of Stated Rate Bid Loans and, in the case of a Eurocurrency Eurodollar Bid Loan, shall be computed on the basis of a year of 360 days and actual days elapsed and expressed in terms of a percentage margin the Bid Margin to be added to or subtracted from the applicable LIBOR Adjusted Eurodollar Rate for the Interest Period to be applicable to such Eurocurrency Eurodollar Bid Loan) at which the Bank is prepared to make each Bid Loan, Loan and (iii) the currency of such Bid Loan (which shall be denominated in either U.S Dollars or an Alternative Currency), (iv) the Interest Period applicable thereto, (v) the jurisdiction in which such Bid Loan is to be disbursed and (vi) the jurisdiction in which payments on such Bid Loan are to be made. The Administrative Agent shall reject any Bid if such Bid (i) does not specify all of the informationinformation specified in the immediately preceding sentence, (ii) contains any qualifying, conditional, or similar language, (iii) proposes terms other than or in addition to those set forth in the Bid Loan Request to which it responds, or (iv) is received by the Administrative Agent later than the times provided for above. Any Bid submitted by a Bank pursuant to this Section 2.2 shall be irrevocable and shall be promptly confirmed by a telecopy or other form of facsimile communication in the form of Exhibit E, provided that in all events the telephone Bid received by the Administrative Agent shall be binding on the relevant Bank and shall not be altered, modified, or in any other manner affected by any inconsistent terms contained in, or terms missing from, the Bank's Confirmation of Bid. Each offer contained in a Bid to make a Bid Loan in a certain amount, at a certain interest rate, and for a certain Interest Period is referred to herein as an "Offer".

Bids. Each Bank may, in its sole discretion, offer to make a Bid Loan or Bid Loans (a "Bid") to the relevant applicable Borrower responsive to the Bid Loan Request. Each Bid by a Bank must be received by the Administrative Agent in the form of Exhibit H (each, a "Confirmation of Bid") delivered by telecopier telephone not later than (i) 9:30 8:45 a.m. (Chicago time) on the proposed Borrowing Date Business Day following the date the Administrative Agent receives a Bid Loan Request from the Company (the "Auction Date"), promptly confirmed in writing by a duly completed Confirmation of Bid delivered by telecopier or other means of facsimile communication substantially in the case form of a bid for a Stated Rate Bid Loan and (ii) 1:00 p.m. (Chicago time) four Business Days prior Exhibit D hereto, to be received by the proposed Borrowing Date in Administrative Agent on the case of a bid for a Eurocurrency Bid Loansame day; provided, however, that any Bid made by the Administrative Agent must be made by telecopy telephone to the Company by no later than fifteen minutes prior to the time that bids Bids from the other Banks are required to be received. Each Bid and each Confirmation of Bid shall refer to this Agreement and specify (i) the principal amount of each Bid Loan that the Bank is willing to make to the applicable Borrower Company and the type of Bid Loan (i.e., Stated Rate or EurocurrencyEurodollar), (ii) the interest rate (which shall be computed on the basis of a 360-day year of 365 or 366 days, as applicable, for the and actual number of days elapsed in the case of Stated Rate Bid Loans and, in the case of a Eurocurrency Eurodollar Bid Loan, shall be computed on the basis of a year of 360 days and actual days elapsed and expressed in terms of a percentage margin the Bid Margin to be added to or subtracted from the applicable LIBOR Adjusted Eurodollar Rate for the Interest Period to be applicable to such Eurocurrency Eurodollar Bid Loan) at which the Bank is prepared to make each Bid Loan, Loan and (iii) the currency of such Bid Loan (which shall be denominated in either U.S Dollars or an Alternative Currency), (iv) the Interest Period applicable thereto, (v) the jurisdiction in which such Bid Loan is to be disbursed and (vi) the jurisdiction in which payments on such Bid Loan are to be made. The Administrative Agent shall reject any Bid if such Bid (i) does not specify all of the informationinformation specified in the immediately preceding sentence, (ii) contains any qualifying, conditional, or similar language, (iii) proposes terms other than or in addition to those set forth in the Bid Loan Request to which it responds, or (iv) is received by the Administrative Agent later than the times provided for above. Any Bid submitted by a Bank pursuant to this Section 2.2 shall be irrevocable and shall be promptly confirmed by a telecopy or other form of facsimile communication in the form of Exhibit D, provided that in all events the telephone Bid received by the Administrative Agent shall be binding on the relevant Bank and shall not be altered, modified, or in any other manner affected by any inconsistent terms contained in, or terms missing from, the Bank's Confirmation of Bid. Each offer contained in a Bid to make a Bid Loan in a certain amount, at a certain interest rate, and for a certain Interest Period is referred to herein as an "Offer".

Bids. Each Bank may, in its sole discretion, offer to make a Bid Loan or Loans (a "Bid") to the relevant Borrower responsive to the Bid Loan Request. Each Bid by a Bank must be received by the Administrative Agent in the form of Exhibit H (each, a "Confirmation of Bid") F delivered by telecopier not later than (i) 9:30 a.m. 9:00 A.M. (Chicago time) on the proposed Borrowing Date in the case of a bid for a Stated Rate Bid Loan and (ii) 1:00 p.m. P.M. (Chicago time) four Business Days prior to the proposed Borrowing Date in the case of a bid for a Eurocurrency Bid Loan; provided, however, that any Bid made by the Administrative Agent must be made by telecopy to the Company Borrower by no later than fifteen minutes prior to the time that bids from the other Banks are required to be received. Each Bid and each Confirmation of Bid shall refer to this Agreement and specify (i) the principal amount of each Bid Loan that the Bank is willing to make to the applicable Borrower and the type of Bid Loan (i.e., Stated Rate or Eurocurrency), (ii) the interest rate (which shall be computed on the basis of a 360-day year of 365 or 366 days, as applicable, for the and actual number of days elapsed in the case of Stated Rate Bid Loans and, in the case of a Eurocurrency Bid Loan, shall be computed on the basis of a year of 360 days and actual days elapsed and expressed in terms of a percentage margin to be added to or subtracted from the applicable LIBOR for the Interest Period to be applicable to such Eurocurrency Bid Loan) at which the Bank is prepared to make each Bid Loan, (iii) the currency of such Bid Loan (which shall be denominated in either U.S Dollars or an Alternative Currency), ) and (iv) the Interest Period applicable thereto, (v) the jurisdiction in which such Bid Loan is to be disbursed and (vi) the jurisdiction in which payments on such Bid Loan are to be made. The Administrative Agent shall reject any Bid if such Bid (i) does not specify all of the informationinformation specified in the immediately preceding sentence, (ii) contains any qualifying, conditional, or similar language, (iii) proposes terms other than or in addition to those set forth in the Bid Loan Request to which it responds, or (iv) is received by the Agent later than the time required for such Bid Loan. Any Bid submitted by a Bank pursuant to this Section 1.7 shall be irrevocable. Each offer contained in a Bid to make a Bid Loan of a certain type in a certain amount, at a certain interest rate, and for a certain Interest Period is referred to herein as an "Offer".

Bids. Each Bank may, in its sole discretion, offer to make a Bid Loan or Loans (a "Bid") to the relevant Borrower Company responsive to the Bid Loan Request. Each Bid by a Bank must shall be received made by delivery to the Administrative Agent of a Confirmation of Bid (a 'Confirmation of Bid") in the form of Exhibit H (each, a "Confirmation of Bid") delivered C by telecopier not later than (i) 9:30 a.m. 10:00 A.M. (Chicago New York time) on the proposed Borrowing Date in the case of a bid Bid for a Stated Rate Bid Loan and (ii) 1:00 p.m. 2:00 P.M. (Chicago New York, New York time) four Business Days prior to the proposed Borrowing Date in the case of a bid Bid for a Eurocurrency Eurodollar Bid Loan; provided, however, that any Bid made by the Administrative Agent must be made by telecopy to the Company by no later than fifteen minutes prior to the time that bids from the other Banks are required to be received. Each Bid and each Confirmation of Bid shall refer to this Agreement and specify (i) the principal amount of each Bid Loan that the Bank is willing to make to the applicable Borrower Company and the type of Bid Loan (i.e., Stated Rate or EurocurrencyEurodollar), (ii) the interest rate (which shall be computed on the basis of a 360-day year of 365 or 366 days, as applicable, for the and actual number of days elapsed in the case of Stated Rate Bid Loans and, elapsed) and in the case of a Eurocurrency Eurodollar Bid Loan, Loan shall be computed on the basis of a year of 360 days and actual days elapsed and expressed in terms of a percentage margin to be added to or subtracted from the applicable LIBOR for the Interest Period to be applicable to such Eurocurrency Eurodollar Bid Loan) at which the Bank is prepared to make each Bid Loan, Loan and (iii) the currency of such Bid Loan (which shall be denominated in either U.S Dollars or an Alternative Currency), (iv) the Interest Period applicable thereto, (v) the jurisdiction in which such Bid Loan is to be disbursed and (vi) the jurisdiction in which payments on such Bid Loan are to be made. The Administrative Agent shall reject any Bid if such Bid (i) does not specify all of the informationinformation specified in the immediately preceding sentence, (ii) contains any qualifying, conditional, or similar language, (iii) proposes terms other than or in addition to those set forth in the Bid Loan Request to which it responds, or (iv) is received by the Administrative Agent later than the times provided for above. Any Bid submitted by a Bank pursuant to this Section 1.5 shall be irrevocable. Each offer contained in a Bid to make a Bid Loan in a certain amount, at a certain interest rate, and for a certain Interest Period is referred to herein as an "Offer".

Bids. Each Bank may, in its sole discretion, offer to make a Bid Loan or Bid Loans (a "Bid") to the relevant applicable Borrower responsive to the Bid Loan Request. Each Bid by a Bank must be received by the Administrative Agent in the form of Exhibit H (each, a "Confirmation of Bid") delivered by telecopier telephone not later than (i) 9:30 8:45 a.m. (Chicago time) on the proposed Borrowing Date Business Day following the date the Administrative Agent receives a Bid Loan Request from Chemical (the "Auction Date"), promptly confirmed in writing by a duly completed Confirmation of Bid delivered by telecopier or other means of facsimile communication substantially in the case form of a bid for a Stated Rate Bid Loan and (ii) 1:00 p.m. (Chicago time) four Business Days prior Exhibit E hereto, to be received by the proposed Borrowing Date in Administrative Agent on the case of a bid for a Eurocurrency Bid Loansame day; provided, however, that any Bid made by the Administrative Agent must be made by telecopy telephone to the Company Chemical by no later than fifteen minutes prior to the time that bids Bids from the other Banks are required to be received. Each Bid and each Confirmation of Bid shall refer to this Agreement and specify (i) the principal amount of each Bid Loan that the Bank is willing to make to the applicable Borrower and the type of Bid Loan (i.e., Stated Rate or EurocurrencyEurodollar), (ii) the interest rate (which shall be computed on the basis of a 360-day year of 365 or 366 days, as applicable, for the and actual number of days elapsed in the case of Stated Rate Bid Loans and, in the case of a Eurocurrency Eurodollar Bid Loan, shall be computed on the basis of a year of 360 days and actual days elapsed and expressed in terms of a percentage margin the Bid Margin to be added to or subtracted from the applicable LIBOR Adjusted Eurodollar Rate for the Interest Period to be applicable to such Eurocurrency Eurodollar Bid Loan) at which the Bank is prepared to make each Bid Loan, Loan and (iii) the currency of such Bid Loan (which shall be denominated in either U.S Dollars or an Alternative Currency), (iv) the Interest Period applicable thereto, (v) the jurisdiction in which such Bid Loan is to be disbursed and (vi) the jurisdiction in which payments on such Bid Loan are to be made. The Administrative Agent shall reject any Bid if such Bid (i) does not specify all of the informationinformation specified in the immediately preceding sentence, (ii) contains any qualifying, conditional, or similar language, (iii) proposes terms other than or in addition to those set forth in the Bid Loan Request to which it responds, or (iv) is received by the Administrative Agent later than the times provided for above. Any Bid submitted by a Bank pursuant to this Section 2.2 shall be irrevocable and shall be promptly confirmed by a telecopy or other form of facsimile communication in the form of Exhibit E, provided that in all events the telephone Bid received by the Administrative Agent shall be binding on the relevant Bank and shall not be altered, modified, or in any other manner affected by any inconsistent terms contained in, or terms missing from, the Bank's Confirmation of Bid. Each offer contained in a Bid to make a Bid Loan in a certain amount, at a certain interest rate, and for a certain Interest Period is referred to herein as an "Offer".