Common use of Competitive Bids Clause in Contracts

Competitive Bids. (i) Each Lender may, but shall have no obligation to, submit one or more Competitive Bids, each containing an irrevocable offer to make a Competitive Bid Loan in response to a Competitive Bid Request; provided, that if the Borrower’s Competitive Bid Request specified more than one Interest Period, such Lender may make a single submission containing a separate offer for each Interest Period and each such separate offer shall be deemed to be a separate Competitive Bid. Each Competitive Bid by a Lender must be received by the Borrower directly by telecopy not later than 11:30 a.m. (Atlanta, Georgia time) on the proposed date of Borrowing. (ii) Each Competitive Bid shall specify (A) the principal amount of each Competitive Bid Loan, the Interest Period applicable thereto and the aggregate principal amount of all Competitive Bid Loans for all Interest Periods (which principal amount may be greater than the Revolving Commitment of such Lender but which may not exceed the aggregate principal amount of Competitive Bid Loans for each Interest Period for which Competitive Bid Requests were requested) and (B) the Competitive Bid Rate or Rates at which such Lender is prepared to make such Loan or Loans (expressed as a percentage rate per annum in the form of a decimal to no more than four decimal places). Competitive Bids that do not conform substantially to Exhibit 2.7-C may be rejected by the Borrower, and the Borrower shall notify the applicable Lender as promptly as possible. (iii) No Competitive Bid shall contain qualifying, conditional or similar language or propose terms other than or in addition to those set forth in the applicable Competitive Bid Request, and in particular, no Competitive Bid may be conditioned upon the acceptance by the Borrower of all (or some specified minimum) of the principal amount of the Competitive Bid Loan for which the Competitive Bid was made.

Competitive Bids. (i) Each Lender may, but shall have no obligation toin its sole discretion, submit one or more make Competitive Bids, each containing an irrevocable offer Bids to make a Competitive Bid Loan the Borrower in response to a Competitive Bid Request; provided, that if the Borrower’s Competitive Bid Request specified more than one Interest Period, such Lender may make a single submission containing a separate offer for each Interest Period and each such separate offer shall be deemed to be a separate Competitive Bid. Each Competitive Bid by a Lender must be received by the Borrower directly by telecopy Administrative Agent via telecopier, in the form of Exhibit C-3 hereto not later than 11:30 a.m. (Atlanta10:30 a.m., Georgia Charlotte time) , on the day of a proposed date Competitive Bid Loan, and any Competitive Bid received by the Administrative Agent after such time can be rejected by the Administrative Agent. Competitive Bids that do not conform substantially to the form of Borrowing. (ii) Exhibit C-3 or otherwise include additional conditions to funding shall be rejected by the Administrative Agent and the Administrative Agent shall notify the Lender making such nonconforming bid of such rejection as soon as practicable. Each Competitive Bid shall refer to this Agreement and specify (A) the principal amount of each the Competitive Bid LoanLoan or Loans that the Lender is willing to make to the Borrower, the Interest Period applicable thereto and the aggregate which shall be in a minimum principal amount of all Competitive Bid Loans for all Interest Periods (which principal amount $5,000,000 or a whole multiple of $1,000,000 in excess thereof and may be greater than equal the Revolving Commitment of such Lender but which may not exceed the aggregate entire principal amount of the Competitive Bid Loans for each Interest Period for which Competitive Bid Requests were requested) and Loan requested by the Borrower, (B) the Competitive Bid Rate or Rates at which such the Lender is prepared to make such the Competitive Bid Loan or Loans and (expressed C) the Competitive Bid Interest Period with respect thereto. A Competitive Bid submitted by a Lender pursuant to this paragraph (b) shall be irrevocable. (ii) If the Administrative Agent shall elect to submit a Competitive Bid in its capacity as a percentage rate per annum in the form of a decimal Lender, it shall submit such bid directly to no more than four decimal places). Competitive Bids that do not conform substantially to Exhibit 2.7-C may be rejected by the Borrower, and the Borrower shall notify at least one quarter of an 24 hour earlier than the applicable Lender as promptly as possiblelatest time at which the other Lenders are required to submit their bids to the Administrative Agent pursuant to clause (i) above. (iii) No later than 11:00 a.m., Charlotte time, on the day Competitive Bids are received from the Lenders, the Administrative Agent shall notify the Borrower by telecopier of all the Competitive Bids made, the Competitive Bid shall contain qualifying, conditional or similar language or propose terms other than or in addition to those set forth in the applicable Competitive Bid Request, Rates and in particular, no Competitive Bid may be conditioned upon the acceptance by the Borrower of all (or some specified minimum) of the principal amount of the each Competitive Bid Loan for in respect of which the a Competitive Bid was mademade and the identity of the Lender that made each bid. The Administrative Agent shall send a copy of all Competitive Bids to the Borrower for its records as soon as practicable after completion of the bidding process set forth in this Section 2.4.

Competitive Bids. (i) Each Lender may, but shall have no obligation to, submit one or more Competitive Bids, each containing an irrevocable offer to make a Competitive Bid Loan in response to a Competitive Bid Request; provided, that if the Borrower’s 's Competitive Bid Request specified more than one Interest Period, such Lender may make a single submission containing a separate offer for each Interest Period and each such separate offer shall be deemed to be a separate Competitive Bid. Each Competitive Bid by a Lender must be received by the Borrower directly by telecopy not later than 11:30 a.m. (Atlanta, Georgia time) on the proposed date of Borrowing. (ii) Each Competitive Bid shall specify (A) the principal amount of each Competitive Bid Loan, the Interest Period applicable thereto and the aggregate principal amount of all Competitive Bid Loans for all Interest Periods (which principal amount may be greater than the Revolving Commitment of such Lender but which may not exceed the aggregate principal amount of Competitive Bid Loans for each Interest Period for which Competitive Bid Requests were requested) and (B) the Competitive Bid Rate or Rates at which such Lender is prepared to make such Loan or Loans (expressed as a percentage rate per annum in the form of a decimal to no more than four decimal places). Competitive Bids that do not conform substantially to Exhibit 2.7-C may be rejected by the Borrower, and the Borrower shall notify the applicable Lender as promptly as possible. (iii) No Competitive Bid shall contain qualifying, conditional or similar language or propose terms other than or in addition to those set forth in the applicable Competitive Bid Request, and in particular, no Competitive Bid may be conditioned upon the acceptance by the Borrower of all (or some specified minimum) of the principal amount of the Competitive Bid Loan for which the Competitive Bid was made.

Competitive Bids. (i) Each Lender may, but shall have no obligation to, submit one or more Competitive Bids, each containing an irrevocable offer to make a Competitive Bid Loan in response response to a Competitive Bid Request; provided, that if the Borrower’s 's Competitive Bid Request (for itself or on behalf of any Designated Borrower) specified more than one Interest Period, such Lender may make a single submission containing a separate offer for each Interest Period and each such separate offer shall be deemed to be a separate Competitive Bid. Each Competitive Bid by a Lender must be received by the Borrower directly Administrative Agent by telecopy not later than 11:30 a.m. (Atlantax) in the case of a Competitive Bid Eurocurrency Borrowing, Georgia time) 2:00 p.m. on the third Business Day prior to the proposed date of Borrowing, and (y) in the case of an Competitive Bid Fixed Rate Borrowing, 9:00 a.m. on the day of the proposed Borrowing; provided, that if the Administrative Agent (or any Affiliate of the Administrative Agent) elects to submit a Competitive Bid in its capacity as a Lender, it shall submit such Competitive Bid directly to the Borrower at least 15 minutes prior to the deadline for the other Lenders. (ii) Each Competitive Bid shall specify (A) the principal amount (which shall be a minimum principal amount of $5,000,000 (or the Dollar Equivalent thereof in the Foreign Currency in which such Competitive Bid Loan is denominated) or a larger multiple of $1,000,000) (or the Dollar Equivalent thereof in the Foreign Currency in which such Competitive Bid Loan is denominated) of each Competitive Bid Loan, Loan and the Interest Period applicable thereto and the aggregate principal amount of all Competitive Bid Loans for all Interest Periods (which principal amount may be greater than the Revolving Commitment of such Lender but which may not exceed the aggregate principal amount of Competitive Bid Loans for each Interest Period for which Competitive Bid Requests were requested) and (B) the Competitive Bid Rate or Rates at which such Lender is prepared to make such Loan or Loans (expressed as a percentage rate per annum in the form of a decimal to no more than four decimal places). Competitive Bids that do not conform substantially to Exhibit 2.72.6-C may be rejected by the BorrowerAdministrative Agent, and the Borrower Administrative Agent shall notify the applicable Lender as promptly as possible. (iii) No Competitive Bid shall contain qualifying, conditional or similar language or propose terms other than or in addition to those set forth in the applicable Competitive Bid Request, and in particular, no Competitive Bid may be conditioned upon the acceptance by the Borrower (for itself or on behalf of any Designated Borrower) of all (or some specified minimum) of the principal amount of the Competitive Bid Loan for which the Competitive Bid was made. (iv) After the Competitive Bids have been submitted, the Administrative Agent shall promptly notify by telecopy the Borrower of (A) the aggregate principal amount of the Competitive Bid Borrowing for which offers have been received and (B) the principal amounts and Competitive Bid Rates so offered by each Lender (and the identity of such Lender).

Competitive Bids. (i) Each Lender may, but shall have no obligation to, submit one or more Competitive Bids, each containing an irrevocable offer to make a Competitive Bid Loan in response to a Competitive Bid Request; provided, that if -------- the Borrower’s 's Competitive Bid Request specified more than one Interest Period, such Lender may make a single submission containing a separate offer for each Interest Period and each such separate offer shall be deemed to be a separate Competitive Bid. Each Competitive Bid by a Lender must be received by the Borrower directly Administrative Agent by telecopy not later than 11:30 (x) in the case of a Competitive Bid Eurodollar Borrowing, 10:30 a.m. (Atlanta, Georgia time) on the third Business Day prior to the proposed date of Borrowing, and (y) in the case of an Competitive Bid Fixed Rate Borrowing, 9:00 a.m. on the day of the proposed Borrowing; provided, that if the -------- Administrative Agent (or any Affiliate of the Administrative Agent) elects to submit a Competitive Bid in its capacity as a Lender, it shall submit such Competitive Bid directly to the Borrower at least 15 minutes prior to the deadline for the other Lenders. (ii) Each Competitive Bid shall specify (A) the principal amount (which shall be a minimum principal amount of $5,000,000 or a larger multiple of $1,000,000) of each Competitive Bid Loan, Loan and the Interest Period applicable thereto and the aggregate principal amount of all Competitive Bid Loans for all Interest Periods (which principal amount may be greater than the Revolving Commitment of such Lender but which may not exceed the aggregate principal amount of Competitive Bid Loans for each Interest Period for which Competitive Bid Requests were requested) and (B) the Competitive Bid Rate or Rates at which such Lender is prepared to make such Loan or Loans (expressed as a percentage rate per annum in the form of a decimal to no more than four decimal places). Competitive Bids that do not conform substantially to Exhibit 2.7------- 2.6-C may be rejected by the BorrowerAdministrative Agent, and the Borrower Administrative Agent ----- shall notify the applicable Lender as promptly as possible. (iii) No Competitive Bid shall contain qualifying, conditional or similar language or propose terms other than or in addition to those set forth in the applicable Competitive Bid Request, and in particular, no Competitive Bid may be conditioned upon the acceptance by the Borrower of all (or some specified minimum) of the principal amount of the Competitive Bid Loan for which the Competitive Bid was made. (iv) After the Competitive Bids have been submitted, the Administrative Agent shall promptly notify by telecopy the Borrower of (A) the aggregate principal amount of the Competitive Bid Borrowing for which offers have been received and (B) the principal amounts and Competitive Bid Rates so offered by each Lender (and the identity of such Lender).