Common use of Invitation for Competitive Bid Quotes Clause in Contracts

Invitation for Competitive Bid Quotes. The Administrative Agent shall (a) promptly upon receipt of a Competitive Bid Quote Request that is not rejected pursuant to Section 3.02, and in any event not later than (i) 11:00 a.m. (Chicago time) on the date of receipt of a Competitive Bid Quote Request, in the case of a Eurocurrency Auction or a EURIBOR Auction, and (ii) 10:00 a.m. (Chicago time) on the date of receipt of a Competitive Bid Quote Request, in the case of an Absolute Rate Auction, provide notice by telephone to each of the Banks (or, if fewer than all of the Banks shall have been specified therein, to each of the specified Banks) of the request set forth therein, and (b) promptly thereafter provide to each such Bank by telex or telecopy a copy of such Competitive Bid Quote Request or a summary of the contents thereof. If, pursuant to Section 3.02, the Borrower and the Administrative Agent shall agree as to times for the delivery of a Competitive Bid Quote Request other than those set forth in Section 3.02, and shall notify the Banks thereof, such notice to the Banks shall set forth in addition any changes in the times set forth in this Section 3.03. A Competitive Bid Quote Request shall not be revocable at any time after the Administrative Agent’s notice to the Banks by telephone of such Competitive Bid Quote Request.

Invitation for Competitive Bid Quotes. The Administrative Agent shall (a) promptly upon receipt of a Competitive Bid Quote Request that is not rejected pursuant to Section 3.02, and in any event not later than (i) 11:00 a.m. (Chicago timeLocal Time) on the date of receipt of a Competitive Bid Quote Request, in the case of a Eurocurrency Auction or a EURIBOR Auction, and (ii) 10:00 a.m. (Chicago time) on the date of receipt of a Competitive Bid Quote Request, in the case of an Absolute Rate Auction, provide notice by telephone facsimile, telex or telecopy to each of the Banks (or, if fewer than all of the Banks shall have been specified therein, to each of the specified Banks) of the request set forth therein, and (b) promptly thereafter provide to each such Bank by facsimile, telex or telecopy a copy of such Competitive Bid Quote Request or a summary of the contents thereof. If, pursuant to Section 3.02, the Borrower and the Administrative Agent shall agree as to times for the delivery of a Competitive Bid Quote Request other than those set forth in Section 3.02, and shall notify the Banks thereof, such notice to the Banks shall set forth in addition any changes in the times set forth in this Section 3.03. A Competitive Bid Quote Request shall not be revocable at any time after the Administrative Agent’s notice to the Banks by telephone facsimile, telex or telecopy of such Competitive Bid Quote Request.

Invitation for Competitive Bid Quotes. The Administrative Agent shall (a) promptly upon receipt of a Competitive Bid Quote Request that is not rejected pursuant to Section 3.02, and in any event not later than (i) 11:00 a.m. (Chicago timeLocal Time) on the date of receipt of a Competitive Bid Quote Request, in the case of a Eurocurrency Auction or a EURIBOR Auction, and (ii) 10:00 a.m. (Chicago time) on the date of receipt of a Competitive Bid Quote Request, in the case of an Absolute Rate Auction, provide notice by telephone to each of the Banks (or, if fewer than all of the Banks shall have been specified therein, to each of the specified Banks) of the request set forth therein, and (b) promptly thereafter provide to each such Bank by telex or telecopy a copy of such Competitive Bid Quote Request or a summary of the contents thereof. If, pursuant to Section 3.02, the Borrower and the Administrative Agent shall agree as to times for the delivery of a Competitive Bid Quote Request other than those set forth in Section 3.02, and shall notify the Banks thereof, such notice to the Banks shall set forth in addition any changes in the times set forth in this Section 3.03. A Competitive Bid Quote Request shall not be revocable at any time after the Administrative Agent’s notice to the Banks by telephone of such Competitive Bid Quote Request.