Competitive Bid Advance definition

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.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Competitive Bid Advance means a borrowing hereunder consisting of the aggregate amount of the several Competitive Bid Loans made by some or all of the Lenders to the Borrower at the same time and for the same Interest Period.

Examples of Competitive Bid Advance in a sentence

The Administrative Agent shall promptly, but in any event on the same Business Day, notify each Revolving Credit Lender of its receipt of a Competitive Bid Borrowing Notice and the aggregate principal amount of such Competitive Bid Advance allocated to each participating Revolving Credit Lender.
No Competitive Bid Quote Request shall be given within five (5) Business Days (or such other number of days as the Borrower and the Administrative Agent may agree) of any Competitive Bid Quote Request that did not result in a Competitive Bid Advance being made.
Each Competitive Bid Advance shall be in the minimum amount provided for in Section 2.3. There shall be no more than ten (10) Fixed Rate Advances outstanding under the Revolving Credit Facilities (in the aggregate) at any time.

More Definitions of Competitive Bid Advance

Competitive Bid Advance means an Advance made by a Lender pursuant to Section 2.02(b).

Competitive Bid Advance means an Absolute Rate Advance, a Eurocurrency Bid Rate Advance, or both, as the context may require.

Competitive Bid Advance means a borrowing hereunder consisting of the aggregate amount of the several Competitive Bid Loans made by some or all of the Lenders to the Company at the same time and for the same Interest Period.

Competitive Bid Advance means an advance by a Lender to Kraft Foods Global as part of a Competitive Bid Borrowing resulting from the competitive bidding procedure described in Section 2.07 and refers to a Fixed Rate Bid Advance or a Floating Rate Bid Advance.

Competitive Bid Advance means an Advance bearing interest based on a Competitive Bid Rate.

Competitive Bid Advance the Revolving Credit Loans (or any portions thereof) at such time as they (or such portions) consist of Competitive Bid Borrowings as provided for in Section 2.4.

Competitive Bid Advance means an advance by a Lender to any Borrower as part of a Competitive Bid Borrowing resulting from the