Common use of Quote Request Clause in Contracts

Quote Request. When a Borrower wishes to request offers to make Bid Rate Loans, it shall give each of the Lenders (excluding any Lender that has previously notified the Borrowers that it will not participate in any LIBO Auctions or Absolute Interest Rate Auctions) notice by telephone or telecopy (a "Quote Request") so as to be received at the applicable office of each such Lender set forth on Schedule II or to such other office as a Lender may notify the Borrowers pursuant to Section 11.2 no later than (a) 3:00 p.m., Eastern time, on the fourth Business Day prior to the date of borrowing proposed therein, in the case of a LIBO Auction or (b) 11:00 a.m., Eastern time, on the date of borrowing proposed therein, in the case of an Absolute Interest Rate Auction. The relevant Borrower may request offers to make Bid Rate Loans for up to five different Interest Periods in a single notice; provided, however, that the request for each separate Interest Period shall be deemed to be a separate Quote Request for a separate borrowing (a "Bid Rate Borrowing"). Each Bid Rate Borrowing shall be at least $10,000,000 (or an integral multiple of $1,000,000 in excess thereof).