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.
Competitive Bid Advances. Each Competitive Bid Advance shall mature and be due and payable in full on the earlier of (i) (A) the last day of the Interest Period applicable thereto in the case of Competitive Bid Advances that are Floating Rate Advances and (B) the maturity date set forth in the Notice of Competitive Bid Borrowing with respect to Competitive Bid Advances that are Fixed Rate Advances and (ii) the Termination Date.
Competitive Bid Advances. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Revolving Credit Lender severally agrees that the Borrower may, to the extent the Borrower or the Parent, as applicable, maintains an Investment Grade Rating and the Borrower has made a Ratings Grid Election, make Competitive Bid Borrowings under Section 2.02(b) from time to time on any Business Day during the period from the date hereof until the date occurring 30 days prior to the RC Maturity Date in the manner set forth below, provided that, following the making of each Competitive Bid Borrowing, (i) the aggregate amount of the Competitive Bid Advances of all Revolving Credit Lenders then outstanding shall not at any time exceed an amount equal to 50% of the Revolving Credit Commitments at such time and (ii) with regard to the Revolving Credit Lenders collectively, the principal amount of the applicable Competitive Bid Advance shall not exceed the aggregate Unused Revolving Credit Commitments. Each Competitive Bid Advance shall be in a minimum principal amount of $5,000,000 and integral multiples of $1,000,000 in excess thereof.
Competitive Bid Advances. (a) In addition to borrowings pursuant to Section 2.1(a) or Section 2.4, Borrower may request each Lender severally to submit offers (herein called a "Competitive Bid Offer") to make advances to Borrower on any Business Day during the Loan Commitment Period as provided in this Section (herein called "Competitive Bid Advances"); provided, however, that each Lender may in its sole discretion, but shall have no obligation whatsoever to submit such offers, and Borrower may, but shall have no obligation to, accept any such offers.
Competitive Bid Advances. Subject to Section 5.01, if such Advance is a Competitive Bid Advance, a rate per annum equal (i) in the case of an Absolute Rate Advance, to the Absolute Rate that shall have been offered by such Bank pursuant to Section 3.04 in its Competitive Bid Quote related thereto and accepted by the Borrower pursuant to Section 3.06 in its Notice of Competitive Bid Borrowing related thereto, (ii) in the case of a Eurocurrency Bid Rate Advance, to the Eurocurrency Bid Rate calculated on the basis of the Competitive Bid Margin that shall have been offered by such Bank pursuant to Section 3.04 in its Competitive Bid Quote related thereto and accepted by the Borrower pursuant to Section 3.06 in its Notice of Competitive Bid Borrowing related thereto, and (iii) in the case of a EURIBOR Bid Rate Advance, to the EURIBOR Bid Rate calculated on the basis of the Competitive Bid Margin that shall have been offered by such Bank pursuant to Section 3.04 in its Competitive Bid Quote related thereto and accepted by the Borrower pursuant to Section 3.06 in its Notice of Competitive Bid Borrowing related thereto, in each case payable on the last day of the applicable Interest Period and, if such Interest Period has a duration of more than 90 days or three months, as the case may be, on each day which occurs during such Interest Period every 90 days or three months, as the case may be, from the first day of such Interest Period.
Competitive Bid Advances. Each Borrower shall repay any Competitive Bid Advance made to such Borrower in accordance with Section 2.04(d).
Competitive Bid Advances. Each Bank severally agrees that the Company may borrow Competitive Bid Advances under this Section 2.02 from time to time on any Business Day (or, in the case of Competitive Bid Eurodollar Advances, any Eurodollar Business Day) during the Availability Period in the manner set forth below; provided, that (I) the aggregate principal amount of all Pro Rata Advances and Competitive Bid Advances outstanding at any time shall not exceed the Commitments at such time, (II) except as provided in Section 2.02(l), the Company shall not request that a Competitive Bid Advance be made on the same day on which a Pro Rata Advance is to be made hereunder, (III) the Company may not deliver a Competitive Bid Borrowing Request as long as Pricing Level V would be effective if a Pro Rata Advance were made or outstanding at such time, and (IV) the Company may not deliver a Competitive Bid Borrowing Request within five (5) Business Days of any other Competitive Bid Borrowing Request hereunder; provided that the Company and the Competitive Bid Agent may agree from time to time to a period of less than five (5) Business Days between Competitive Bid Borrowing Requests. (b) Competitive Bid Borrowing Requests. The Company may request Competitive Bid Advances under this Section 2.02 to be made on any Business Day (in the case of an Absolute Bid) or Eurodollar Business Day (in the case of a LIBOR Bid) that is not also the day requested by the Company for a Pro Rata Advance hereunder, except as provided in Section 2.02(l), by giving a notice substantially in the form of Exhibit C-2 (a "Competitive Bid Borrowing Request") to the Competitive Bid Agent, not later than (1) in the case of LIBOR Bids, 11:00 a.m. (New York City time) at least four (4) Eurodollar Business Days prior to the date of the proposed Competitive Bid Advances, or (2) in the case of Absolute Bids, 11:00 a.m. (New York City time) at least one (1) Business Day prior to the date of the proposed Competitive Bid Advances, containing the information specified in Exhibit C-2 and specifying for not more than three (3) alternative proposed Competitive Bid Advances (A) the aggregate amount and date of the proposed Competitive Bid Advances, which aggregate amount shall be a minimum of Five Million Dollars ($5,000,000) or a multiple of One Million Dollars ($1,000,000) in excess of Five Million Dollars ($5,000,000), (B) the final maturity date thereof (which shall not be less than one (1) month in the case of a LIBOR Bid, or seven (7...
Competitive Bid Advances. Each Lender severally agrees that the Borrower may make Competitive Bid Borrowings under this Section 2.2(b) from time to time on any Business Day during the period from the Agreement Date through the date which is thirty (30) days prior to the Maturity Date in the manner set forth below; provided that, following the making of each Competitive Bid Borrowing, the aggregate amount of all Facility A Loans, Letter of Credit Obligations and Competitive Bid Loans then outstanding shall not exceed the Facility A Commitment on such date.
Competitive Bid Advances. The Borrower 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 specified by the Bidder making such Competitive Bid Advance in its notice with respect thereto, payable on the interest payment date or dates specified by the Borrower for such Competitive Bid Advance in the related Notice of Competitive Bid Borrowing, as provided in the Competitive Bid Note evidencing such Competitive Bid Advance.
Competitive Bid Advances. (A) Competitive Bid Option. In addition to Ratable Advances pursuant ---------------------- to this Article II, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1 as to the maximum aggregate principal amount of all outstanding Advances hereunder), the Company may, as set forth in this Section 2.19, request the Banks, prior to the Facility Termination Date, to make offers to make Competitive Bid Advances to the Company. Each Bank may, but shall have no obligation to, make such offers and the Company may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.19. Each Competitive Bid Advance shall be repaid by the Company on the last day of the Interest Period applicable thereto.
