#Any Specified Borrower may request Competitive Advance Loans by delivering a Competitive Advance Loan Request. The Applicable Administrative Agent shall notify each Bank promptly by facsimile transmission of the contents of each Competitive Advance Loan Request received by the Applicable Administrative Agent. Each Bank may elect, in its sole discretion, to offer irrevocably to make one or more Competitive Advance Loans to the Specified Borrower by delivering a Competitive Advance Loan Offer to the Applicable Administrative Agent.
#If the Specified Borrower accepts one or more of the offers made by any Bank or Banks, the Applicable Administrative Agent promptly shall notify each Bank which has made such a Competitive Advance Loan Offer of # the aggregate amount of such Competitive Advance Loans to be made for each maturity date and # the acceptance or rejection of any offers to make such Competitive Advance Loans made by such Bank. Before the Funding Time for the applicable Currency, each Bank whose Competitive Advance Loan Offer has been accepted shall make available to the Applicable Administrative Agent for the account of the Specified Borrower at the Funding Office for the applicable Currency the amount of Competitive Advance Loans in the applicable Currency to be made by such Bank, in immediately available funds.
#If the Specified Borrower notifies the Applicable Administrative Agent that a Competitive Advance Loan Request is cancelled, the Applicable Administrative Agent shall give prompt telephone notice thereof to the Banks.
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