Common use of Offer Procedures Clause in Contracts

Offer Procedures. Upon receipt from the Administrative Agent of the contents of a Bid Loan Request, any Lender may, in its sole discretion, elect to offer, on the terms and subject to the conditions set forth in this Agreement, to make one or more of the requested Bid Loans at such fixed rates of interest as may be quoted by such Lender in it sole discretion. Any such offer shall be made by delivery to the Administrative Agent no later than 9:00 a.m. (Los Angeles time) on the proposed funding date of a duly executed Bid Loan Offer. Each Bid Loan Offer shall specify: (1) The maximum dollar amount of Bid Loans which such Lender is prepared to fund for the requested Bid Loan Interest Periods, with the amount of each Bid Loan to be $5,000,000.00 or increments of $1,000,000.00 in excess thereof (except in the case following the submission of Bid Loan Offers a lesser amount shall be allocated pro rata among Lenders as provided in Paragraph 5(d) below); and (2) The rate or rates of interest at which such Lender is prepared to make the offered Bid Loans. The Administrative Agent shall notify the Company no later than 10:00 a.m. (Los Angeles time) on the proposed funding date of the contents of each Bid Loan Offer received by it.

Offer Procedures. Upon receipt from the Administrative Agent of the contents of a Bid Loan Request, any Lender may, in its sole discretion, elect to offer, on the terms and subject to the conditions set forth in this Agreement, to make one or more of the requested Bid Loans at such fixed rates of interest as may be quoted by such Lender in it sole discretion. Any such offer shall be made by delivery to the Administrative Agent no later than 9:00 a.m. (Los Angeles time) on the proposed funding date of a duly executed Bid Loan Offer. Each Bid Loan Offer shall specify: (1) The maximum dollar amount of Bid Loans which such Lender is prepared to fund for the requested Bid Loan Interest Periods, with the amount of each Bid Loan to be $5,000,000.00 or increments of $1,000,000.00 in excess thereof (except in the case following the submission of Bid Loan Offers a lesser amount shall be allocated pro rata among Lenders as provided in Paragraph 5(d) below); and (2) The rate or rates of interest at which such Lender is prepared to make the offered Bid Loans. The Administrative Agent shall notify the Company no later than 10:00 a.m. (Los Angeles time) on the proposed funding date of the contents of each Bid Loan Offer received by it.