MAKING COMPETITIVE OFFERS Sample Clauses

MAKING COMPETITIVE OFFERS. Each Lender may, in its sole discretion, make one or more Competitive Bids, which Competitive Bids shall be responsive to the Competitive Bid Request. Each Competitive Bid by such Lender must be received by the Administrative Agent (A) in the case of a proposed Competitive Borrowing to consist of Eurodollar Competitive Advances, by hand delivery, telex or telecopier (in the form of Exhibit 3.3C-1 hereto) not later than 9:30 A.M. (Charlotte, North Carolina time) three Business Days prior to a proposed Competitive Borrowing and (B) in the case of a proposed Competitive Borrowing to consist of Fixed Rate Competitive Advances, by hand delivery, telex or telecopier (in the form of Exhibit 3.3C-2 hereto) not later than 9:30 A.M. (Charlotte, North Carolina time) on the day of a proposed Competitive Borrowing. Multiple bids will be accepted by the Administrative Agent. Each Competitive Bid shall refer to this Agreement and specify (W) the principal amount (which may be up to the aggregate amount of the proposed Competitive Borrowing regardless of the Commitment of the Lender) of the Competitive Advance that the Lender is willing to make to the Borrower requesting such Competitive Bid (X) the minimum principal amount of such Competitive Bid (which shall be a minimum principal amount of $5,000,000 and in an integral multiple of $500,000 in excess thereof) which may be accepted by the Borrower, (Y) the Competitive Bid Rate or Rates at which the Lender is prepared to make the Competitive Advances, and (Z) whether the Eurodollar Competitive Bid or Fixed Rate Competitive Bid, as the case may be subject to such Competitive Bid, may be prepaid without penalty, and any conditions relating thereto. A Competitive Bid submitted by a Lender pursuant to this subsection (ii) shall be irrevocable absent manifest error (i.e. a typographical error).