The Bid Loans. (a) The Company may borrow Bid Loans from time to time on any Business Day during the Commitment Period in the manner set forth in this subsection and in amounts such that the Aggregate Loans at any time outstanding shall not exceed (after giving effect to the simultaneous use of the proceeds thereof to repay Loans) the Aggregate Commitments at such time, provided, however, that the aggregate principal amount of the outstanding Bid Loans of a Bid Loan Lender may (but shall not be required to) exceed its Commitment.
The Bid Loans. Each Bid Loan shall mature, and the principal amount thereof shall be due and payable, on the last day of the Interest Period applicable thereto; provided, however, that the outstanding principal amount of all Bid Loans shall be repaid on the Maturity Date.
The Bid Loans. Any Borrower may borrow Bid Loans from time to time on any Business Day during the period from the Closing Date until the Termination Date, in the manner set forth in this Section 4 and in amounts such that the aggregate Loan Outstandings of all the Banks at any time plus the Aggregate Outstanding Bilateral Option Loans at such time will not exceed the aggregate Commitments at such time, and provided, further, that no such Bid Loan shall be made if, after giving effect thereto, any Bid Loans would mature after the Termination Date.
The Bid Loans. (a) The Borrower may borrow Bid Loans from time to time on any Business Day (in the case of Bid Loans made pursuant to an Absolute Rate Bid Loan Request) or on any Working Day (in the case of Bid Loans made pursuant to a LIBOR Bid Loan Request) during the period from the Closing Date until the date occurring 7 days prior to the Termination Date in the manner set forth in this subsection 2.3 and in amounts such that the aggregate amount of Loans outstanding at any time shall not exceed the aggregate amount of the Commitments at such time.
The Bid Loans. At any time before the Termination Date, Chemical may request the Banks to offer to make uncommitted loans (each such loan being hereinafter referred to as a "Bid Loan" and collectively as the "Bid Loans") in the manner set forth in Sections 2.1 through 2.6 hereof and in amounts such that the aggregate principal amount of the Total Outstandings hereunder shall not exceed the sum of the Revolving Credit Commitments then in effect after taking into account any Loans to be paid with such Bid Loans. The Banks may, but shall have no obligation to, make such offers and the Borrowers may, but shall have no obligation to, accept any such offers in the manner set forth in Sections 2.1 through 2.6 hereof. Each Bank may offer to make Bid Loans in any amount (whether greater than, equal to, or less than its Revolving Credit Commitment), subject to the limitation that the aggregate principal amount of the Total Outstandings under this Agreement may not at any time exceed the sum of the Revolving Credit Commitments then in effect. Bid Loans may either bear interest at a stated rate per annum ("Stated Rate Bid Loans") or at a margin (the "Bid Margin") over or under the Adjusted Eurodollar Rate ("Eurodollar Bid Loans"); provided that there may be no more than five different Interest Periods for Bid Loans outstanding at the same time and that no Bid Loan may mature after the Termination Date.
The Bid Loans. At any time before the Short-Term Revolving Credit Termination Date, either Borrower may request the Banks to offer to make uncommitted loans (each a "Bid Loan" and collectively the "Bid Loans") in the manner set forth in this Section 3 and in amounts such that neither the Original Dollar Amount nor the U.S. Dollar Equivalent of the aggregate principal amount of all outstanding Short-Term Revolving Loans, Short-Term Swing Loans and Bid Loans shall exceed the Short-Term Revolving Credit Commitments in effect at such time. The Banks may, but shall have no obligation to, make such offers and the Borrowers may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 3. Each Bank may offer to make Bid Loans in any amount (whether greater than, equal to, or less than its Short-Term Revolving Credit Commitment), subject to the limitation that the aggregate principal amount of all Short-Term Revolving Loans, Short-Term Swing Loans and Bid Loans outstanding at any time shall not at any time exceed the Short-Term Revolving Credit Commitments then in effect and subject to the other conditions of this Agreement. All Bid Loans shall be denominated in U.S. Dollars.
The Bid Loans. The Borrower may request the Banks to offer to make uncommitted loans (each a "BID LOAN" and collectively the "BID LOANS") in the manner set forth in this Section 2 and in amounts such that (i) the aggregate principal amount of all outstanding Loans (whether Committed Loans, Swing Loans or Bid Loans) and L/C Obligations shall not exceed the Commitments then in effect and (ii) no Bid Loan shall be made if, at the time thereof or after giving effect thereto, the aggregate amount of Bid Loans would exceed the Bid Loan Limit then in effect. The Banks 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. Each Bank may offer to make Bid Loans in any amount (whether greater than, equal to, or less than its Commitment), subject to the (a) limitations that (i) the aggregate principal amount of all Loans (whether Committed Loans, Swing Loans or Bid Loans) and L/C Obligations outstanding at any time shall not at any time exceed the Commitments then in effect and (ii) no Bid Loan shall be made if, at the time thereof or after giving effect thereto, the aggregate amount of Bid Loans would exceed the Bid Loan Limit then in effect and (b) the other conditions of this Agreement. Bid Loans may either bear interest at a stated rate per annum ("STATED RATE BID LOANS") or at a margin above or below the applicable Adjusted LIBOR ("EURODOLLAR BID LOANS"); PROVIDED that there may be no more than six (6) different Interest Periods for both Stated Rate Bid Loans and Eurodollar Bid Loans outstanding at the same time.
The Bid Loans. Subject to the terms and conditions of this Agreement, the Company may borrow Bid Loans from time to time during the Bid Loan Commitment Period on any Business Day. The Company shall designate Banks from time to time as Bid Loan Lenders by written notice to the Administrative Agent. The Administrative Agent shall transmit each such notice of designation promptly to each designated Bid Loan Lender. Each Bid Loan shall bear interest at rates, be payable on the dates, be made in Dollars, and shall mature on the date, agreed between the Company and the relevant Bid Loan Lender at the time such Bid Loan is made; provided, that the maturity date for each Bid Loan (i) shall be not less than 15 days nor more than 180 days after the Borrowing Date therefor with respect to an Absolute Rate Bid Loan and (ii) shall be on the last day of an Interest Period with respect to an Index Rate Bid Loan (and, in each case, in any event shall be not later than the Revolving Credit Termination Date). Within the limits and on the conditions hereinafter set forth with respect to Bid Loans, the Company from time to time may borrow, repay and reborrow Bid Loans; provided that no Bid Loan shall be made if, after giving effect to the making of such Loan and the simultaneous application of the proceeds thereof, the Aggregate Extensions of Credit would exceed the aggregate amount of the Revolving Credit Commitments.
The Bid Loans. In addition to Revolving Borrowings pursuant to ------------- subsection 2.1 and Swingline Borrowings pursuant to subsection 2.4, the Company may, as set forth in subsection 2.6, from time to time, but at no time more than 6 times per month, request the Banks prior to the Termination Date to submit offers to make Bid Loans in Dollars to the Company; provided, however, that the -------- ------- Banks may, but shall have no obligation to, submit such offers and the Company may, but shall have no obligation to, accept any such offers; and provided, -------- further, that at no time shall the outstanding aggregate principal amount of all ------- Bid Loans made by all Banks, plus the outstanding aggregate principal amount of all outstanding Revolving Loans and Swingline Loans, exceed the Aggregate Domestic Facility Commitment.
The Bid Loans. Each Bid Loan shall mature, and the Company ------------- hereby promises to pay the principal amount thereof, on the last day of the Interest Period applicable thereto.
