Neiman Marcus 2003 Annual Report Download - page 223

(i) the aggregate principal amount of each Competitive Bid Borrowing may not exceed the applicable amount
set forth in the related Competitive Bid Quote Request;
(ii) the principal amount of each Competitive Bid Borrowing must be $5,000,000 or a larger integral multiple
of $1,000,000;
(iii) acceptance of offers may only be made on the basis of ascending Competitive Bid Margins or Competitive
Bid Absolute Rates, as the case may be;
(iv) the Borrower may not accept any offer that is described in subsection 2.03(d)(iii) or that otherwise fails to
comply with the requirements of this Agreement; and
(v) immediately after such Competitive Bid Borrowing is made, the Total Outstanding Amount shall not
exceed the aggregate amount of the Commitments.
(g) Allocation by Administrative Agent. If offers are made by two or more Lenders with the same Competitive Bid
Margins or Competitive Bid Absolute Rates, as the case may be, for a greater aggregate principal amount than the amount in respect
of which such offers are accepted for the related Interest Period, the principal amount of Competitive Bid Loans in respect of which
such offers are accepted shall be allocated by the Administrative Agent among such Lenders as nearly as possible (in integral
multiples of $1,000,000, as the Administrative Agent may deem appropriate) in proportion to the aggregate principal amounts of such
offers. Determinations by the Administrative Agent of the amounts of Competitive Bid Loans shall be conclusive in the absence of
manifest error.
Section 2.04. Notice to Lenders; Funding of Loans.
(a) Promptly after receiving a Notice of Borrowing, the Administrative Agent shall notify each Lender of the contents
thereof and of such Lender's share (if any) of such Borrowing and such Notice of Borrowing shall not thereafter be revocable by the
Borrower.
(b) Not later than 2:00 P.M. (New York City time) on the date of each Borrowing, each Lender participating therein
shall make available its share of such Borrowing, in Federal or other funds immediately available in New York City, to the
Administrative Agent at its address specified in or pursuant to Section 9.01. Unless the Administrative Agent determines that any
applicable condition specified in Article 3 has not been satisfied, the Administrative Agent will make the funds so received from the
Lenders available to the Borrower at the Administrative Agents aforesaid address.
21