Competitive Bid Loan definition

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

Competitive Bid Loan means a Competitive Bid LIBOR Loan or a Competitive Bid Absolute Rate Loan.

Competitive Bid Loan means a loan by a Lender to a Borrower as part of a Competitive Bid Loan Borrowing resulting from the auction bidding procedure described in Section 3.02.

Examples of Competitive Bid Loan in a sentence

• No Lender shall be relieved of its obligation to fund a Competitive Bid Loan, and no Designated Lender shall assume such obligation, prior to the time such Competitive Bid Loan is funded.

• A Lender may offer to make all or part of the requested Competitive Bid Loan and may submit multiple Competitive Bids in response to a Competitive Bid Request.

• Any Designated Lender which funds a Competitive Bid Loan shall on and after the time of such funding become the obligee under such Competitive Bid Loan and be entitled to receive payment thereof when due.

• Each Competitive Bid Loan shall mature and be due and payable in full on the last day of the Interest Period applicable thereto.

• Unless the relevant Borrower shall give notice to the Administrative Agent otherwise (or repays such Competitive Bid Loan), or a Default or Event of Default with respect to such Borrower exists and is continuing, such Borrower shall be deemed to have requested Revolving Loans from all of the Lenders (in the amount of the maturing Competitive Bid Loan and accruing interest at the Base Rate), the proceeds of which will be used to repay such Competitive Bid Loan.

More Definitions of Competitive Bid Loan

Competitive Bid Loan is a Loan made pursuant to Section 2.16 hereof.

Competitive Bid Loan means a loan made by a Lender in its discretion pursuant to the provisions of Section 2.1(b).

Competitive Bid Loan shall have the meaning provided in Section 1.01(d).

Competitive Bid Loan as defined in Section 2.4(a).

Competitive Bid Loan means a Loan bearing interest at such rate and for such interest period, and on such other terms not inconsistent with the terms of this Agreement, as the applicable Borrower and the Bank making such Loan may mutually agree and which Loan is requested pursuant to a Notice of Competitive Bid Borrowing.

Competitive Bid Loan each Loan from a Lender to the Borrower pursuant to Section 2.4.

Competitive Bid Loan means a Competitive Bid LIBOR Loan or a Competitive Bid Absolute Rate Loan. “Competitive Bid Margin” has the meaning set forth in Section 2.03(d)(ii)(C).