Open Competitive Bidding means a fair and transparent specified procedure defined under these Rules, advertised in the prescribed manner, leading to the award of a contract whereby all interested persons, firms, companies or organizations may bid for the contract and includes both National and International Competitive Biddings;
Competitive Bid Borrowing means a borrowing consisting of simultaneous Competitive Bid Advances from each of the Lenders whose offer to make one or more Competitive Bid Advances as part of such borrowing has been accepted under the competitive bidding procedure described in Section 2.03.
Competitive bidding means a transparent process for procurement of equipment, services and works in which bids are invited by the project developer by open advertisement covering the scope and specifications of the equipment, services and works required for the project, and the terms and conditions of the proposed contract as well as the criteria by which bids shall be evaluated, and shall include domestic competitive bidding and international competitive bidding;
Competitive Bid Advance means an advance by a Lender to the Borrower as part of a Competitive Bid Borrowing resulting from the competitive bidding procedure described in Section 2.03 and refers to a Fixed Rate Advance or a LIBO Rate Advance.
competitive bidding process means a competitive bidding process referred to in paragraph 12 (1) (d) of this Policy;
Competitive Bid Margin means the margin above or below the applicable Eurodollar Base Rate offered for a Eurodollar Bid Rate Loan, expressed as a percentage (rounded to the nearest 1/100 of 1%) to be added or subtracted from such Eurodollar Base Rate.
Competitive Bid Loan means a Eurodollar Bid Rate Loan or an Absolute Rate Loan, or both, as the case may be.
Bid Loan has the meaning specified in Section 2.03(a).
Bid Borrowing means a borrowing consisting of simultaneous Bid Loans of the same Type from each of the Lenders whose offer to make one or more Bid Loans as part of such borrowing has been accepted under the auction bidding procedures described in Section 2.03.
Competitive Bid Reduction has the meaning specified in Section 2.01.
Competitive Bid Note means a promissory note of the Borrower payable to the order of any Lender, in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of the Borrower to such Lender resulting from a Competitive Bid Advance made by such Lender.
Competitive Bid Accept/Reject Letter means a notification made by a Borrower pursuant to Section 2.03(d) in the form of Exhibit A-4.
Competitive Bid Rate means, with respect to any Competitive Bid, the Margin or the Fixed Rate, as applicable, offered by the Lender making such Competitive Bid.
Competitive Borrowing means a Borrowing consisting of a Competitive Loan or concurrent Competitive Loans from the Lender or Lenders whose Competitive Bids for such Borrowing have been accepted under the bidding procedure described in Section 2.03.
Competitive when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans constituting such Borrowing, are made pursuant to Section 2.04.
Competitive Bid Request means a request by the Borrower for Competitive Bids in accordance with Section 2.04.
Competitive Bid means a bid in terms of a competitive bidding process;
Competitive Sealed Bidding means the competitive process described within an Invitation for Bids, wherein the City invites Offerors to submit bids to supply the City with the Goods and/or Service describes in the Solicitation document, where the City will award the resulting contract to the responsible Offeror submitting the low responsive bid.
Bid Loan Lender means, in respect of any Bid Loan, the Lender making such Bid Loan to the Borrower.
Eurodollar Competitive Loan means any Competitive Loan bearing interest at a rate determined by reference to the LIBO Rate in accordance with the provisions of Article II.
Bid Request means a written request for one or more Bid Loans substantially in the form of Exhibit B-1.
Notice of Competitive Bid Borrowing has the meaning specified in Section 2.03(a).
Bid Rate Loan means a loan made by a Lender under Section 2.2.
Competitive Loan means a Loan made pursuant to Section 2.04.
Competitive Bid Quote Request means the notice, in substantially the form of Exhibit B hereto, to be delivered by the Borrower in accordance with Section 2.03 in requesting Competitive Bid Quotes.
Competitive Range means the responsive submissions that meet the evaluation criteria and are considered to be reasonably susceptible of award.