Common use of Competitive Bid Option Clause in Contracts

Competitive Bid Option. In addition to Committed Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 as to the maximum aggregate principal amount of all outstanding Advances hereunder), the Borrower may, as set forth in this Section 2.3, request the Lenders, prior to the Termination Date, to make offers to make Competitive Bid 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 2.3. Competitive Bid Advances shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to Committed Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 2.1.2(a) as to the maximum aggregate principal amount of all outstanding Advances hereunderand Facility Letter of Credit Obligations hereunder and the limitation in Section 2.1.2(b) as to the maximum aggregate amount of all outstanding Competitive Bid Advances), the Borrower theBorrower may, as set forth in this Section 2.3, request the Lenders, prior to the theFacility Termination Date, to make offers to make Competitive Bid 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 offer in the manner set forth in this Section 2.3. Competitive Bid Advances shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to Committed Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 2.1.2(a) as to the maximum aggregate principal amount of all outstanding Advances hereunderand Facility Letter of Credit Obligations hereunder and the limitation in Section 2.1.2(b) as to the maximum aggregate amount of all outstanding Competitive Bid Advances), the Borrower may, as set forth in this Section 2.3, request the Lenders, prior to the Facility Termination Date, to make offers to make Competitive Bid 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 offer in the manner set forth in this Section 2.3. Competitive Bid Advances shall be evidenced by the Competitive Bid Notes2.3.2.

Competitive Bid Option. In addition to Committed Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 as to the maximum aggregate principal amount of all outstanding Advances hereunder), the each Borrower may, as set forth in this Section 2.3, request the Lenders, prior to the Facility Termination Date, to make offers to make Competitive Bid 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 2.3. Each Competitive Bid Advances Advance to a Borrower shall be evidenced repaid by such Borrower on the Competitive Bid Notes.last day of the Interest Period applicable thereto. Table of Contents

Competitive Bid Option. In addition to Committed Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 as to the maximum aggregate principal amount of all outstanding Advances hereunder), prior to the Termination Date the Borrower may, as set forth in this Section 2.3, request the Lenders, prior to the Termination Date, Lenders to make offers to make Competitive Bid 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 2.3. Competitive Bid Advances shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to Committed Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 as to the maximum aggregate principal amount of all outstanding Advances and Facility Letter of Credit Obligations hereunder), prior to the Facility Termination Date either Borrower may, as set forth in this Section 2.3, request the Lenders, prior to the Termination Date, Lenders to make offers to make Competitive Bid Advances to the such Borrower. Each Lender may, but shall have no obligation to, make such offers and the applicable Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.3. Competitive Bid Advances shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to Committed Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 as to the maximum aggregate principal amount of all outstanding Advances hereunder), the Borrower may, as set forth in this Section 2.3, request the Lenders, prior to the Termination Date, to make offers to make Competitive Bid 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 2.3. There shall be no more than five Competitive Bid Advances shall be evidenced by the Competitive Bid Notesoutstanding at any one time.

Competitive Bid Option. In addition to Committed Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 2.1.2(a) as to the maximum aggregate principal amount of all outstanding Advances hereunderand Facility Letter of Credit Obligations hereunder and the limitation in Section 2.1.2(b) as to the maximum aggregate amount of all outstanding Competitive Bid Advances), the Borrower may, as set forth in this Section 2.3, request the Lenders, prior to the Facility Termination Date, to make offers to make Competitive Bid 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 offer in the manner set forth in this Section 2.3. Competitive Bid Advances shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to Committed Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 as to the maximum aggregate principal amount of all outstanding Advances Credit Extensions hereunder), and provided further that the Borrower's Unsecured Debt Rating is at least BBB- or greater or Baa3 or greater, as assigned by the applicable Rating Agencies, the Borrower may, as set forth in this Section 2.3, request the Lenders, prior to the Facility Termination Date, to make offers to make Competitive Bid 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 2.3. Competitive Bid Advances shall be evidenced by the Competitive Bid Notes.

Competitive Bid Option. In addition to Committed Advances pursuant to Section 2.22.1, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth in Section 2.1.2 2.1.1(iv) as to the maximum aggregate principal amount of all outstanding Tranche A Revolving Advances hereunder), the Borrower may, as set forth in this Section 2.3, request the Tranche A Lenders, prior to the Tranche A Revolving Facility Termination Date, to make offers to make Competitive Bid Advances to the Borrower. Each Tranche A 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 2.3. Competitive Bid Advances shall be evidenced by the Competitive Bid Notes.