Common use of The Money Market Option Clause in Contracts

The Money Market Option. From time to time during the Term, and provided that at such time the Borrower maintains a Credit Rating of at least BBB- or Baa3 (or their equivalent) from S&P and Mxxxx’x, the Borrower may, as set forth in this Section 2.4, request the Banks during the Term to make offers to make Money Market Loans in Dollars to the Borrower, not to exceed, at such time, the lesser of (i) fifty percent (50%) of the aggregate Commitments, and (ii) the aggregate Commitments less all Loans and Letter of Credit Usage then outstanding (excluding any Loans or any portion thereof to be repaid from the proceeds of such Money Market Loans). Subject to the provisions of this Agreement, the Borrower may repay any outstanding Money Market Loan on any day which is a Business Day (or a Euro-Dollar Business Day in the case of Money Market IBOR Loans) and any amounts so repaid may be reborrowed, up to the amount available under this Section 2.4 at the time of such Borrowing, until the Euro-Dollar Business Day next preceding the Maturity Date. 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 2.4.

The Money Market Option. From time to time during the Term, and provided that at such time the Borrower maintains a Credit an Investment Grade Rating of at least BBB- or Baa3 (or their equivalent) from both S&P and Mxxxx’x, the Borrower may, as set forth in this Section 2.42.3, request the Banks during the Term to make offers to make Money Market Loans in Dollars only to the Borrower, not to exceed, at such time, the lesser of (i) fifty percent (50%) of the aggregate Commitments, and (ii) the aggregate Commitments less all Loans and Letter of Credit Usage then outstanding (excluding any Loans or any portion thereof to be repaid from the proceeds of such Money Market Loans)outstanding. Subject to the provisions of this Agreement, the Borrower may repay any outstanding Money Market Loan on any day which is a Business Day (or a Euro-Dollar Business Day in the case of Money Market IBOR Loans) and any amounts so repaid may be reborrowed, up to the amount available under this Section 2.4 2.3 at the time of such Borrowing, until the Euro-Dollar Business Day next preceding the Maturity Date. 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 2.42.3. It is hereby acknowledged and agreed by the Borrower, the Administrative Agent and all the Banks party hereto that on the Closing Date, the Money Market Loans previously made by JPMorgan Chase Bank and U.S. Bank National Association under the Existing Revolving Credit Agreement, and more particularly set forth on Schedule 2.3 hereto, shall be transferred to this Agreement and shall be deemed to be Money Market Loans hereunder.

The Money Market Option. From time to time during the Term, and provided that at such time the Borrower maintains a Credit an Investment Grade Rating of at least BBB- or Baa3 (or their equivalent) from both S&P and Mxxxx’xXxxxx’x, the Borrower may, as set forth in this Section 2.42.3, request the Banks during the Term to make offers to make Money Market Loans in Dollars only to the Borrower, not to exceed, at such time, the lesser of (i) fifty percent (50%) of the aggregate Commitments, and (ii) the aggregate Commitments less all Loans and Letter of Credit Usage then outstanding (excluding any Loans or any portion thereof to be repaid from the proceeds of such Money Market Loans)outstanding. Subject to the provisions of this Agreement, the Borrower may repay any outstanding Money Market Loan on any day which is a Business Day (or a Euro-Dollar Business Day in the case of Money Market IBOR Loans) and any amounts so repaid may be reborrowed, up to the amount available under this Section 2.4 2.3 at the time of such Borrowing, until the Euro-Dollar Business Day next preceding the Maturity Date. 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 2.42.3. It is hereby acknowledged and agreed by the Borrower, the Administrative Agent and all the Banks party hereto that on the Closing Date, the Money Market Loans previously made by JPMorgan Chase Bank and U.S. Bank National Association under the Existing Revolving Credit Agreement, and more particularly set forth on Schedule 2.3 hereto, shall be transferred to this Agreement and shall be deemed to be Money Market Loans hereunder.

The Money Market Option. From time to time during the Term, and provided that at such time the Borrower maintains a Credit an Investment Grade Rating of at least BBB- or Baa3 (or their equivalent) from both S&P and Mxxxx’xXxxxx’x, the Borrower may, as set forth in this Section 2.42.3, request the Banks during the Term to make offers to make Money Market Loans in Dollars to the Borrower, not to exceed, at such time, the lesser of (iI) fifty percent (50%) of the aggregate Commitments, and (ii) the aggregate Commitments less all Loans and Letter of Credit Usage then outstanding (excluding any Loans or any portion thereof to be repaid from the proceeds of such Money Market Loans)outstanding. Subject to the provisions of this Agreement, the Borrower may repay any outstanding Money Market Loan on any day which is a Business Day (or a Euro-Dollar Business Day in the case of Money Market IBOR Loans) and any amounts so repaid may be reborrowed, up to the amount available under this Section 2.4 2.3 at the time of such Borrowing, until the Euro-Dollar Domestic Business Day next preceding the Maturity Date. 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 2.42.3. It is hereby acknowledged and agreed by the Borrower, the Administrative Agent and all the Banks party hereto that on the Closing Date, the Money Market Loans previously made by JPMorgan Chase Bank, N.A. (formerly known as JPMorgan Chase Bank) and US Bank, National Association under the Existing Revolving Credit Agreement, and more particularly set forth on Schedule 2.3 hereto, shall be transferred to this Agreement and shall be deemed to be Money Market Loans hereunder.

The Money Market Option. From time In addition to time during the Term, Committed Borrowings pursuant to Section 2.1 and provided that at such time the Borrower maintains a Credit Rating of at least BBB- or Baa3 (or their equivalent) from S&P and Mxxxx’xSection 2.2 hereof, the Borrower may, as set forth in this Section 2.4, and provided that at the time Borrower shall have two Investment Grade Ratings (at least one of which shall be from S&P or Xxxxx’x) may request the Banks at any time or from time to time during the Term to make offers to make Money Market Loans in Dollars to the Borrower, Borrower not to exceed, at such time, the lesser of (i) an amount equal to fifty percent (50%) of the aggregate Commitments, Commitments and (ii) the aggregate Commitments Commitments, less all Loans and Letter of Credit Usage then outstanding (excluding any Committed Loans or any portion thereof to be repaid from the proceeds of such Money Market Loans)) plus the Letter of Credit Usage. Subject to the provisions of this Agreement, the Borrower may repay any outstanding Money Market Loan on any day which is a Business Day (or a Euro-Dollar Business Day, in the case of a LIBOR Auction, or a Domestic Business Day in the case of Money Market IBOR Loans) an Absolute Rate Auction and any amounts so repaid may be reborrowed, up to the amount available under this Section 2.4 2.3 at the time of such Borrowing, until the Euro-Dollar Business Day fourteenth (14th) day next preceding the Maturity Date. Each Money Market Loan included in any Money Market Borrowing shall mature, and the principal amount thereof shall be due and payable, together with accrued interest thereon, on the earlier to occur of (i) the last day of the Interest Period applicable to such Borrowing or (ii) the Maturity Date. 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 2.4Section.