Competitive Borrowing definition

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 Borrowing means a Borrowing comprised of Competitive Loans.

Competitive Borrowing means a Competitive Loan or group of Competitive Loans of the same type made on the same date and as to which a single Interest Period is in effect.

Examples of Competitive Borrowing in a sentence

• Each payment of interest on any Competitive Borrowing shall be allocated pro rata among the Lenders participating in such Borrowing in accordance with the respective amounts of accrued and unpaid interest on their outstanding Competitive Loans comprising such Borrowing.

• Each payment of principal of any Competitive Borrowing shall be allocated pro rata among the Lenders participating in such Borrowing in accordance with the respective principal amounts of their outstanding Competitive Loans comprising such Borrowing.

• The Borrower shall not have the right to prepay any Competitive Borrowing.

• For purposes of determining the available Commitments of the Lenders at any time, each outstanding Competitive Borrowing shall be deemed to have utilized the Commitments of the Lenders (including those Lenders which shall not have made Loans as part of such Competitive Borrowing) pro rata in accordance with such respective Commitments.

• No prepayment may be made in respect of any Competitive Borrowing.

More Definitions of Competitive Borrowing

Competitive Borrowing means a borrowing consisting of simultaneous Competitive Loans of the same Type from each of the Lenders whose offer to make one or more Competitive 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 of the same Type, as to which a single Interest Period is in effect and made on the same date by the Lender or Lenders whose Competitive Bid(s) as all or as a part of such borrowing, as the case may be, has (or have) been accepted by the Company under the bidding procedure described in Section 2.04.

Competitive Borrowing means any Borrowing under the Competitive Bid Subfacility.

Competitive Borrowing means a borrowing consisting of one or more Competitive Advances of the same Type and Interest Period made to a Borrower on the same day by each of the Lenders whose Competitive Bid to make one or more Competitive Advances as part of such borrowing has been accepted by such Borrower under the competitive bidding procedure described in Section 3.03(b). A Competitive Borrowing may be referred to herein as being a "Type" of Competitive Borrowing, corresponding to the Type of Competitive Advances comprising such Borrowing.

Competitive Borrowing means a borrowing consisting of a Competitive Loan or concurrent Competitive Loans from each Bank whose Competitive Bid as all or as a part of such borrowing, as the case may be, has been accepted by a Borrower under the bidding procedure described in Section 2.03.

Competitive Borrowing means, as the case may be, (a) a Borrowing consisting of a Competitive Loan from a Competitive Bid Bank whose Competitive Bid, accepted by the Company, is equal to the entire amount of such Borrowing, or (b) a Borrowing consisting of concurrent Competitive Loans from each of the Competitive Bid Banks whose Competitive Bid as a part of such Borrowing has been accepted by the Company, in each case pursuant to the bidding procedure described in Section 2.02 hereof.

Competitive Borrowing means a borrowing consisting of concurrent Competitive Loans from each of the Banks whose Competitive Bid as a part of such borrowing has been accepted by the Company under the bidding procedure described in Section 2.02.