Competitive Bid Borrowings definition

Competitive Bid Borrowings will mean the amount of Competitive Bid Loans outstanding at any particular time.
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Examples of Competitive Bid Borrowings in a sentence

  • Each Lender severally agrees that any Borrower may make Competitive Bid Borrowings under this Section 2.07 from time to time on any Business Day during the period from the Effective Date until 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 shall not exceed the aggregate amount of the Commitments of the Lenders.

  • The Borrower may make more than one Revolving Credit Borrowing or Competitive Bid Borrowing on the same day and may make Revolving Credit Borrowings and Competitive Bid Borrowings on the same day.

  • Competitive Bid Borrowings shall be paid pursuant to Section 2.4.

  • Each Lender severally agrees that any Borrower may make Competitive Bid Borrowings in Dollars under this Section 2.07 from time to time on any Business Day during the period from the Effective Date until the Termination Date in the manner set forth below; provided that, following the making of each Competitive Bid Borrowing, the aggregate principal amount of the Advances then outstanding shall not exceed the aggregate amount of the Commitments of the Lenders.

  • This Section shall NOT apply to Competitive Bid Borrowings or Swingline Loans, which may not be converted or continued.

  • The Borrower may not request Competitive Bid Borrowings for more than three maturities nor request more than one type of Competitive Bid Loan in a single Competitive Bid Borrowing.

  • This Section shall not apply to Competitive Bid Borrowings, which may not be converted or continued beyond the Interest Period applicable thereto.

  • Each Lender severally agrees that Kraft Foods Global may make Competitive Bid Borrowings under this Section 2.07 from time to time on any Business Day during the period from the Effective Date until 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 shall not exceed the aggregate amount of the Commitments of the Lenders.

  • We hereby give notice pursuant to Section 2.03 of the Credit Agreement that we request Competitive Bid Quotes for the following proposed Competitive Bid Borrowing(s): Date of Borrowing: Principal Amount1 Interest Period2 $ Such Competitive Bid Quotes should offer a Competitive Bid [Margin] [Absolute Rate].

  • At no time shall the number of Competitive Bid Borrowings outstanding under this Section 2.7, together with all Eurodollar Borrowings exceed ten in any case.

Related to Competitive Bid Borrowings

  • 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 2.07.

  • Competitive Bid Loan means a Eurodollar Bid Rate Loan or an Absolute Rate Loan, or both, as the case may be.

  • 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.

  • Notice of Competitive Bid Borrowing has the meaning specified in Section 2.03(a).

  • Competitive Bid Request means a request by the Borrower for Competitive Bids in accordance with Section 2.04.

  • 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.

  • 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 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 by the Borrower under the bidding procedure described in Section 2.03.

  • Competitive Bid Reduction has the meaning specified in Section 2.01.

  • 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 means an offer by a Lender to make a Competitive Loan in accordance with Section 2.04.

  • Competitive Bid Note means a promissory note of any Borrower payable to the order of any Lender, in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of such Borrower to such Lender resulting from a Competitive Bid Advance made by such Lender to such Borrower.

  • Competitive Bid Quote Request means a Competitive Bid Quote Request substantially in the form of Exhibit "C" hereto completed and delivered by the Borrower to the Agent in accordance with Section 2.3.2.

  • Bid Loan Lender means, in respect of any Bid Loan, the Lender making such Bid Loan to the Company.

  • 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.

  • Competitive Bid Accept/Reject Letter means a notification made by the Borrower pursuant to Section 2.03(d) in the form of Exhibit D-4.

  • Competitive Bid Quote means a response submitted by a Lender to the Administrative Agent with respect to a Competitive Bid Quote Request in the form attached as Exhibit C-3.

  • Notice of Revolving Credit Borrowing has the meaning specified in Section 2.02(a).

  • Bid Rate Loan means a loan made by a Lender under Section 2.2.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.

  • Notice of Committed Borrowing has the meaning set forth in Section 2.02.

  • Committed Borrowing means a borrowing consisting of simultaneous Committed Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • Absolute Rate Loan means a Bid Rate Loan, the interest rate on which is determined on the basis of an Absolute Rate pursuant to an Absolute Rate Auction.