COMPETITIVE BID NOTE Sample Clauses
The Competitive Bid Note clause establishes the requirement for obtaining multiple bids or proposals before awarding a contract or making a purchase. In practice, this clause typically mandates that the party seeking goods or services must solicit and evaluate offers from several qualified vendors to ensure fair competition and transparency. By enforcing a competitive bidding process, the clause helps prevent favoritism, ensures the best value for money, and promotes accountability in procurement decisions.
COMPETITIVE BID NOTE. See Section 2.6.2.
COMPETITIVE BID NOTE. See Section 2.9.1(b).
COMPETITIVE BID NOTE. See Section 2.5(b) hereof. COMPETITIVE BID QUOTE. An offer by a Lender to make a Competitive Bid Loan in accordance with Section 2.3 ereof. COMPETITIVE BID QUOTE REQUEST. See Section 2.3.1(b) hereof. COMPETITIVE BID RATE. See Section 2.3.1(d)(ii)(C) hereof. COMPETITIVE BID SUBLIMIT. $150,000,000. COMPLIANCE CERTIFICATE. See Section 6.4(c) hereof.
COMPETITIVE BID NOTE. On or before the date of such Competitive Bid Borrowing, but prior to such Competitive Bid Borrowing, the Administrative Agent shall have received a Competitive Bid Note payable to the order of such Lender for each of the one or more Competitive Bid Loans to be made by such Lender as part of such Competitive Bid Borrowing, in a principal amount equal to the principal amount of the Competitive Bid Loan to be evidenced thereby and otherwise on such terms as were agreed to for such Competitive Bid Loan in accordance with section 2.5.