Common use of Competitive Bid Option Clause in Contracts

Competitive Bid Option. In addition to ratable Advances pursuant to Section 2.5, but subject to the terms and conditions of this Agreement (including, without limitation the limitation set forth in Section 2.1(a) as to the maximum Allocated Facility Amount), the Borrower may, as set forth in this Section 2.16, but only during a Rating Period, request the Lenders, prior to the Maturity Date, to make offers to make Competitive Bid Loans to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.16. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to ratable Ratable Advances pursuant to Section 2.52.2, but subject to the terms and conditions of this Agreement (including, without limitation limitation, the limitation set forth in Section 2.1(a) 2.1.2 as to the maximum Allocated Facility Amountaggregate principal amount of all outstanding Advances hereunder), the each Borrower may, as set forth in this Section 2.16, but only during a Rating Period2.3, request the Lenders, prior to the Maturity Revolving Credit Termination Date, to make offers to make Competitive Bid Loans Advances to the such Borrower. Each Lender may, but shall have no obligation to, make such offers and the such Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.162.3. Each Competitive Bid Loans Advance to a Borrower shall be evidenced repaid by such Borrower on the Competitive Bid Noteslast day of the Interest Period applicable thereto.

Competitive Bid Option. In addition to ratable Ratable Advances pursuant to Section 2.52.2, but subject to the terms and conditions of this Agreement (including, without limitation limitation, the limitation set forth in Section 2.1(a) 2.1.2 as to the maximum Allocated aggregate principal amount of all outstanding Advances and Facility AmountLetter of Credit Obligations hereunder), the Borrower may, as set forth in this Section 2.16, but only during a Rating Period2.3, request the Lenders, prior to the Maturity Termination Date, to make offers to make Competitive Bid Loans Advances to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.162.3. Competitive Bid Loans Advances shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to ratable Committed Advances pursuant to Section 2.52.1, but subject to the terms and conditions of this Agreement (including, without limitation limitation, the limitation set forth in Section 2.1(a2.1.1(iv) as to the maximum Allocated Facility Amountaggregate principal amount of all outstanding Committed Advances hereunder), the Borrower may, as set forth in this Section 2.16, but only during a Rating Period2.3, request the Lenders, prior to the Maturity Facility Termination Date, to make offers to make Competitive Bid Loans Advances to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.16. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes2.3.

Competitive Bid Option. In addition to ratable Ratable Advances pursuant to Section 2.52.2, but subject to the terms and conditions of this Agreement (including, without limitation limitation, the limitation set forth in Section 2.1(a) 2.1.2 as to the maximum Allocated Facility Amountaggregate principal amount of all outstanding Advances hereunder), the each Borrower may, as set forth in this Section 2.16, but only during a Rating Period2.3, request the Lenders, prior to the Maturity Facility Termination Date, to make offers to make Competitive Bid Loans Advances to the such Borrower. Each Lender may, but shall have no obligation to, make such offers and the such Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.162.3. Each Competitive Bid Loans Advance to a Borrower shall be evidenced repaid by such Borrower on the Competitive Bid Noteslast day of the Interest Period applicable thereto.

Competitive Bid Option. In addition to ratable Advances pursuant to Section 2.52.1(a), but subject to the terms and conditions of this Agreement (including, without limitation the limitation set forth in Section 2.1(a) as to the maximum Allocated Facility Amountamount of all Loans not exceeding the Aggregate Commitment), the Borrower may, as set forth in this Section 2.16, but only during a Rating Period2.4, request the Lenders, prior to the Maturity Date, to make offers to make Competitive Bid Loans to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.162.4. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to ratable Advances Borrowings pursuant to Section 2.52.7, but subject to the terms and conditions of this Agreement (including, without limitation the limitation set forth in Section 2.1(a) as to the maximum Allocated Facility AmountTotal Domestic Exposure), the Borrower may, as set forth in this Section 2.162.18, but only during a Rating Period, request the Revolving Lenders, prior to the Maturity Date, to make offers to make Competitive Bid Loans to the Borrower. Each Revolving Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.162.18. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to ratable Advances pursuant to Section 2.52.3, but subject to the terms and conditions of this Agreement (including, without limitation the limitation set forth in Section 2.1(a) 2.1 as to the maximum Allocated amount of all Loans and the Facility AmountLetter of Credit Obligations not exceeding the Aggregate Commitment), the Borrower may, as set forth in this Section 2.16, but only during a Rating Period2.15, request the Lenders, prior to the Maturity Termination Date, to make offers to make Competitive Bid Loans to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.162.15. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to ratable Advances pursuant to Section 2.52.3, but subject to the terms and conditions of this Agreement (including, without limitation limitation, the limitation set forth in Section 2.1(a) 2.1 as to the maximum Allocated Facility Amountamount of all Loans not exceeding the Aggregate Commitment), the Borrower may, as set forth in this Section 2.16, but only during a Rating Period, request the Lenders, prior to the Maturity Facility Termination Date, to make offers to make Competitive Bid Loans to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.16. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to ratable Advances Borrowings pursuant to Section 2.52.6, but subject to the terms and conditions of this Agreement (including, without limitation the limitation set forth in Section 2.1(a) as to the maximum Allocated Facility AmountTotal Domestic Exposure), the Borrower may, as set forth in this Section 2.162.17, but only during a Rating Period, request the Lenders, prior to the Maturity Date, to make offers to make Competitive Bid Loans to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.162.17. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to ratable Advances pursuant to Section 2.5, but subject to the terms and conditions of this Agreement (including, without limitation the limitation set forth in Section 2.1(a) as to the maximum Allocated Facility Amount), the Borrower may, as set forth in this Section 2.162.17, but only during a Rating Pricing Period, request the Lenders, prior to the Maturity Date, to make offers to make Competitive Bid Loans to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.162.17. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to ratable Advances Loans pursuant to Section 2.52.1, but subject to the terms and conditions of this Agreement (including, without limitation limitation, the limitation set forth in Section 2.1(a) 2.1.1 as to the maximum Allocated Facility Amountaggregate principal amount of all outstanding Loans hereunder), the Borrower may, as set forth in this Section 2.16, but only during a Rating Period2.2, request the Lenders, prior to the Maturity Commitment Termination Date, to make offers to make Competitive Bid Loans Advances to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.16. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes2.2.

Competitive Bid Option. In addition to ratable Advances pursuant to Section 2.5, but subject to the terms and conditions of this Agreement (including, without limitation the limitation set forth in Section 2.1(a) 2.1 as to the maximum Allocated Facility Amount), the Borrower may, as set forth in this Section 2.16, but only during a Rating Period2.17, request the Lenders, prior to the Maturity Date, to make offers to make Competitive Bid Loans to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.162.17. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to ratable Advances pursuant to Section 2.52.3, but subject to the terms and conditions of this Agreement (including, without limitation the limitation set forth in Section 2.1(a) 2.1 as to the maximum Allocated Facility Amountamount of all Loans not exceeding the Aggregate Commitment), the Borrower may, as set forth in this Section 2.16, but only during a Rating Period2.14, request the Lenders, prior to the Maturity Facility Termination Date, to make offers to make Competitive Bid Loans to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.162.14. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes. In no event shall the aggregate of all Competitive Bid Loans outstanding at any time exceed 50% of the Aggregate Commitment.

Competitive Bid Option. In addition to ratable Ratable Advances pursuant to Section 2.52.2, but subject to the terms and conditions of this Agreement (including, without limitation limitation, the limitation set forth in Section 2.1(a2.1(ii) as to the maximum Allocated Facility Amountaggregate principal amount of all outstanding Advances hereunder), the any Borrower may, as set forth in this Section 2.16, but only during a Rating Period2.3, request the LendersBanks, prior to the Maturity Revolving Credit Termination Date, to make offers to make Competitive Bid Loans Advances to the such Borrower. Each Lender Bank may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.162.3. Competitive Bid Loans Advances shall be evidenced by the Competitive Bid Notes. 2.3.2.

Competitive Bid Option. In addition to ratable Advances pursuant to Section 2.52.3, but subject to the terms and conditions of this Agreement (including, without limitation the limitation set forth in Section 2.1(a) 2.1 as to the maximum Allocated Facility Amountamount of all Loans not exceeding the Aggregate Commitment), the Borrower may, as set forth in this Section 2.16, but only during a Rating Period, request the Lenders, prior to the Maturity Facility Termination Date, to make offers to make Competitive Bid Loans to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.16. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to ratable Ratable Advances pursuant to Section 2.52.2, but subject to the terms and conditions of this Agreement (including, without limitation limitation, the limitation set forth in Section 2.1(a) 2.1.2 as to the maximum Allocated Facility Amountaggregate principal amount of all outstanding Advances hereunder), the Borrower may, as set forth in this Section 2.162.3, but only during a Rating Period, request the Lenders, prior to the Maturity Facility Termination Date, to make offers to make Competitive Bid Loans Advances to the Borrower. Each Lender may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.162.3. Each Competitive Bid Loans Advance shall be evidenced repaid by the Competitive Bid NotesBorrower on the last day of the Interest Period applicable thereto.