Common use of Competitive Bid Option Clause in Contracts

Competitive Bid Option. In addition to ratable Borrowings pursuant to Section 2.3, 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 amount of all outstanding Borrowings, including Swingline Loans and Competitive Bid Loans), the Borrower may, as set forth in Sections 2.22 or 2.23, request the Lenders, prior to the 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 Section 2.22 or Section 2.23, as the case may be. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes. Borrower shall not have the right to request a Competitive Bid Loan at any time that a Default exists. If Borrower elects to have Administrative Agent administer the Competitive Bid Loan process, the procedures set forth in Section 2.22 shall apply. If Borrower elects to administer the Competitive Bid Loan process itself, the procedures set forth in Section 2.23 shall apply.

Competitive Bid Option. In addition to ratable Revolving Borrowings pursuant to Section 2.3, 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 amount of all outstanding Borrowings, including Swingline Loans and Competitive Bid Loans), the Borrower may, as set forth in Sections 2.22 or 2.23, request the Lenders, prior to the Facility Termination 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 Section 2.22 or Section 2.23, as the case may be. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes. Borrower shall not have the right to request a Competitive Bid Loan at any time that a Default exists. If Borrower elects to have Administrative Agent administer the Competitive Bid Loan process, the procedures set forth in Section 2.22 shall apply. If Borrower elects to administer the Competitive Bid Loan process itself, the procedures set forth in Section 2.23 shall apply.

Competitive Bid Option. In addition to ratable Borrowings Advances pursuant to Section 2.3, 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 amount of all outstanding BorrowingsAdvances, including Swingline Loans and Competitive Bid Loans), the Borrower may, as set forth in Sections 2.22 or 2.23, request the Lenders, prior to the 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 Section 2.22 or Section 2.23, as the case may be. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes. Borrower shall not have the right to request a Competitive Bid Loan at any time that a Default exists. If Borrower elects to have Administrative Agent administer the Competitive Bid Loan process, the procedures set forth in Section 2.22 shall apply. If Borrower elects to administer the Competitive Bid Loan process itself, the procedures set forth in Section 2.23 shall apply.

Competitive Bid Option. In addition to ratable Borrowings Advances pursuant to Section SECTION 2.3, but subject to the terms and conditions of this Agreement (including, without limitation the limitation set forth in Section SECTION 2.1 as to the maximum amount of all outstanding BorrowingsAdvances, including Swingline Loans and Competitive Bid Loans), the Borrower may, as set forth in Sections SECTIONS 2.22 or 2.23, request the Lenders, prior to the 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 Section SECTION 2.22 or Section SECTION 2.23, as the case may be. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes. Borrower shall not have the right to request a Competitive Bid Loan at any time that a Default exists. If Borrower elects to have Administrative Agent administer the Competitive Bid Loan process, the procedures set forth in Section SECTION 2.22 shall apply. If Borrower elects to administer the Competitive Bid Loan process itself, the procedures set forth in Section SECTION 2.23 shall apply.

Competitive Bid Option. In addition to ratable Borrowings pursuant to Section 2.3, 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 amount of all outstanding Borrowings, including Swingline Loans and Competitive Bid Loans), the Borrower may, as set forth in Sections 2.22 or 2.23, request the Lenders, prior to the 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 Section 2.22 or Section 2.23, as the case may be. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes. Borrower shall not have the right to request a Competitive Bid Loan at any time that a Default exists. If Borrower elects to have Administrative Agent administer the Competitive Bid Loan process, the procedures set forth in Section 2.22 shall apply. If Borrower elects to administer the Competitive Bid Loan process itself, the procedures set forth in Section 2.23 shall apply.

Competitive Bid Option. In addition to ratable Borrowings Advances pursuant to Section SECTION 2.3, but subject to the terms and conditions of this Agreement (including, without limitation the limitation set forth in Section SECTION 2.1 as to the maximum amount of all outstanding BorrowingsAdvances, including Swingline Loans and Competitive Bid Loans), the Borrower may, as set forth in Sections 2.22 SECTIONS 2.23 or 2.232.24, request the Lenders, prior to the 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 Section 2.22 SECTION 2.23 or Section 2.23SECTION 2.24, as the case may be. Competitive Bid Loans shall be evidenced by the Competitive Bid Notes. Borrower shall not have the right to request a Competitive Bid Loan at any time that a Default exists. If Borrower elects to have Administrative Agent administer the Competitive Bid Loan process, the procedures set forth in Section 2.22 SECTION 2.23 shall apply. If Borrower elects to administer the Competitive Bid Loan process itself, the procedures set forth in Section 2.23 SECTION 2.24 shall apply.