Common use of Allocation by Administrative Agent Clause in Contracts

Allocation by Administrative Agent. If offers are made by two or more Banks with the same Competitive Bid Margins or Absolute Rates, as the case may be, for a greater aggregate principal amount than the amount in respect of which offers remain to be accepted, as specified by the Borrower, for the related Interest Period (after giving effect to the acceptance of all offers made at lower rates), the principal amount of Competitive Bid Advances in respect of which such offers are accepted shall be allocated by the Administrative Agent among such Banks as nearly as possible (in such multiples, not greater than $5,000,000 (or the Approximate Equivalent Amount if denominated in an Agreed Currency other than in Dollars), as the Administrative Agent may deem appropriate) in proportion to the aggregate principal amount of such offers. Allocations by the Administrative Agent of the amounts of Competitive Bid Advances shall be conclusive in the absence of manifest error.

Allocation by Administrative Agent. If offers are made by two (2) or more Banks with the same Competitive Bid Margins or Absolute Rates, as the case may be, for a greater aggregate principal amount than the amount in respect of which offers remain to be accepted, as specified by the Borrower, for the related Interest Period (after giving effect to the acceptance of all offers made at lower rates), the principal amount of Competitive Bid Advances in respect of which such offers are accepted shall be allocated by the Administrative Agent among such Banks as nearly as possible practicable (in such multiples, not greater than $5,000,000 (or the Approximate Equivalent Dollar Amount if denominated in an Agreed Currency other than in Dollars), as the Administrative Agent may deem appropriate) in proportion to the aggregate principal amount of such offers. Allocations by the Administrative Agent of the amounts of Competitive Bid Advances shall be conclusive in the absence of manifest error.

Allocation by Administrative Agent. If offers are made by two or more Banks with the same Competitive Bid Margins or Absolute Rates, as the case may be, for a greater aggregate principal amount than the amount in respect of which offers remain to be accepted, as specified by the Borrower, for the related Interest Period (after giving effect to the acceptance of all offers made at lower rates), the principal amount of Competitive Bid Advances in respect of which such offers are accepted shall be allocated by the Administrative Agent among such Banks as nearly as possible (in such multiples, not greater than $5,000,000 (or the Approximate Equivalent Dollar Amount if denominated in an Agreed Currency other than in Dollars), as the Administrative Agent may deem appropriate) in proportion to the aggregate principal amount of such offers. Allocations by the Administrative Agent of the amounts of Competitive Bid Advances shall be conclusive in the absence of manifest error.