Common use of Competitive Bid Borrowings Clause in Contracts

Competitive Bid Borrowings. (a) The Competitive Bid Option. In addition to the Syndicated Loans permitted to be made hereunder pursuant to sect.2.1 hereof, the Borrower may, from time to time from the Closing Date until the Revolving Credit Loan Maturity Date pursuant to the terms of this sect.2.3, cause the Agent to request the Banks to make offers to fund Competitive Bid Loans to the Borrower from time to time prior to the Revolving Credit Loan Maturity Date. The Banks may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept such offers in the manner set forth in this sect.2.3. Each Bank may make Competitive Bid Loans in an aggregate amount (after giving effect to all amounts requested) not to exceed the lesser of $20,000,000 and the Total Commitment, provided that the aggregate amount of all outstanding Syndicated Loans (after giving effect to all amounts requested) plus the aggregate amount of all outstanding Competitive Bid Loans (after giving effect to all amounts requested) shall at no time exceed the Total Commitment. (b)

Competitive Bid Borrowings. (a) The Competitive Bid Option. In addition to the Syndicated Loans permitted to be made hereunder pursuant to sect.2.1 Section 2.1 hereof, the Borrower may, from time to time from the Closing Date until the Revolving Credit Loan Maturity Date pursuant to the terms of this sect.2.3Section 2.3, cause the Agent to request the Banks to make offers to fund Competitive Bid Loans to the Borrower from time to time prior to the Revolving Credit Loan Maturity Date. The Banks may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept such offers in the manner set forth in this sect.2.3Section 2.3. Each Bank may make Competitive Bid Loans in an aggregate amount (after giving effect to all amounts requested) not to exceed the lesser of $20,000,000 and the Total Commitment, provided that the aggregate amount of all outstanding Syndicated Loans (after giving effect to all amounts requested) plus the aggregate amount of all outstanding Competitive Bid Loans (after giving effect to all amounts requested) shall at no time exceed the Total Commitment. (b).

Competitive Bid Borrowings. (a) The Competitive Bid OptionTHE COMPETITIVE BID OPTION. In addition to the Syndicated Loans permitted to be made hereunder pursuant to sect.2.1 ss.2.1 hereof, the Borrower may, from time to time from during the Closing Date until the Revolving Credit Loan Maturity Date Revolver Period pursuant to the terms of this sect.2.3ss.2.3, cause the Agent to request the Banks to make offers to fund Competitive Bid Loans to the Borrower from time to time prior to the Revolving Credit Loan Maturity Date. The Banks may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept such offers in the manner set forth in this sect.2.3ss.2.3. Each Bank may make Competitive Bid Loans in an aggregate amount (after giving effect to all amounts requested) not to exceed the lesser of $20,000,000 and the Total Commitment, provided PROVIDED that the sum of (A) the aggregate amount of all outstanding Syndicated Loans PLUS (after giving effect to B) the aggregate amount of all amounts requestedoutstanding Swing Line Loans PLUS (C) plus the Maximum Drawing Amount PLUS (D) all Unpaid Reimbursement Obligations PLUS (E) the aggregate amount of all outstanding Competitive Bid Loans (after giving effect to all amounts requested) shall at no time exceed the Total Commitment. (b).

Competitive Bid Borrowings. (a) The Competitive Bid OptionTHE COMPETITIVE BID OPTION. In addition to the Syndicated Loans permitted to be made hereunder pursuant to sect.2.1 Section 2.1 hereof, the Borrower may, from time to time from during the Closing Date until the Revolving Credit Loan Maturity Date Revolver Period pursuant to the terms of this sect.2.3Section 2.3, cause the Agent to request the Banks Lenders to make offers to fund Competitive Bid Loans to the Borrower from time to time prior to the Revolving Credit Loan Maturity Date. The Banks Lenders may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept such offers in the manner set forth in this sect.2.3Section 2.3. Each Bank Lender may make Competitive Bid Loans in an aggregate amount (after giving effect to all amounts requested) not to exceed the lesser of $20,000,000 and (i) the Total CommitmentCommitment and (ii) the Competitive Bid Sublimit, provided PROVIDED that at no time shall the sum of (A) the aggregate amount of all outstanding Syndicated Loans Loans, PLUS (after giving effect to all amounts requestedB) plus the aggregate amount of all outstanding Swing Line Loans, PLUS (C) the Maximum Drawing Amount, PLUS (D) all Unpaid Reimbursement Obligations, PLUS (E) the aggregate outstanding amount of Competitive Bid Loans (after giving effect to all amounts requested) shall at no time exceed the Total Commitment. (b).