Common use of The Competitive Bid Advances Clause in Contracts

The Competitive Bid Advances. (a) Each Lender severally agrees that the Parent Borrower may make Competitive Bid Borrowings in Dollars under this Section 2.03 from time to time on any Business Day during the period from the date hereof until the date occurring 30 days prior to the Termination Date in the manner set forth below; provided that, following the making of each Competitive Bid Borrowing, the aggregate amount of the Advances then outstanding, when added to the sum of (i) the L/C Obligations then outstanding and (ii) the aggregate principal amount of the Swing Line Advances then outstanding, does not exceed the Total Commitments (computed without regard to any Competitive Bid Reduction).

The Competitive Bid Advances. (a) Each Lender severally agrees that the Parent Borrower may make Competitive Bid Borrowings in Dollars under this Section 2.03 from time to time on any Business Day during the period from the date hereof until the date occurring 30 days prior to the Termination Date in the manner set forth below; provided that, following the making of each Competitive Bid Borrowing, the Dollar Equivalent of the aggregate amount of the Advances then outstanding, when added to the sum of (i) the L/C Obligations then outstanding and (ii) the aggregate principal amount of the Swing Line Advances then outstanding, does not exceed the Total Commitments (computed without regard to any Competitive Bid Reduction).