"NOTE" OF SUCH BANK SHALL
BE DEEMED TO REFER TO AND INCLUDE ANY OR ALL OF SUCH NOTES, AS THE CONTEXT MAY
REQUIRE.
20
(B)
UPON RECEIPT OF ANY BANK'S NOTE PURSUANT TO SECTION 3.1(A), THE
ADMINISTRATIVE AGENT SHALL FORWARD SUCH NOTE TO SUCH BANK.
SUCH BANK SHALL
RECORD THE DATE, AMOUNT, CURRENCY, TYPE AND MATURITY OF EACH LOAN MADE BY IT AND
THE DATE AND AMOUNT OF EACH PAYMENT OF PRINCIPAL MADE BY THE BORROWER, WITH
RESPECT THERETO, AND MAY, IF SUCH BANK SO ELECTS IN CONNECTION WITH ANY TRANSFER
OR ENFORCEMENT OF ITS NOTE, ENDORSE ON THE APPROPRIATE SCHEDULE APPROPRIATE
NOTATIONS TO EVIDENCE THE FOREGOING INFORMATION WITH RESPECT TO EACH SUCH LOAN
THEN OUTSTANDING; PROVIDED THAT THE FAILURE OF SUCH BANK TO MAKE ANY SUCH
RECORDATION OR ENDORSEMENT SHALL NOT AFFECT THE OBLIGATIONS OF THE BORROWER
HEREUNDER OR UNDER THE NOTES.
EACH BANK IS HEREBY IRREVOCABLY AUTHORIZED BY THE
BORROWER SO TO ENDORSE ITS NOTE AND TO ATTACH TO AND MAKE A PART OF ITS NOTE A
CONTINUATION OF ANY SUCH SCHEDULE AS AND WHEN REQUIRED.
(C)
THE COMMITTED LOANS SHALL MATURE, AND THE PRINCIPAL AMOUNT THEREOF
SHALL BE DUE AND PAYABLE, ON THE MATURITY DATE.
(D)
THERE SHALL BE NO MORE THAN TEN (10) EURO-CURRENCY GROUPS OF LOANS
OUTSTANDING AT ANY ONE TIME.
SECTION 2.5.
Method of Electing Interest Rates. (a) The Loans
included in each Borrowing shall bear interest initially at the type of rate
specified by the Borrower, in the Notice of Borrowing.
Thereafter, the Borrower
may from time to time elect to change or continue the type of interest rate
borne by each Group of Loans (subject in each case to the provisions of Article
VIII and without affecting the currency of any particular Loan), as follows:
(I)
IF SUCH LOANS ARE BASE RATE LOANS, THE BORROWER MAY ELECT TO
CONVERT ALL OR ANY PORTION OF SUCH LOANS TO EURO-CURRENCY LOANS AS OF ANY
EURO-CURRENCY BUSINESS DAY;
(II)
IF SUCH LOANS ARE EURO-CURRENCY LOANS, THE BORROWER MAY ELECT TO
CONVERT ALL OR ANY PORTION OF SUCH LOANS TO BASE RATE LOANS AND/OR ELECT TO
CONTINUE ALL OR ANY PORTION OF SUCH LOANS AS EURO-CURRENCY LOANS FOR AN
ADDITIONAL INTEREST PERIOD OR ADDITIONAL INTEREST PERIODS, IN EACH CASE
EFFECTIVE ON THE LAST DAY OF THE THEN CURRENT INTEREST PERIOD APPLICABLE TO SUCH
LOANS, OR ON SUCH OTHER DATE DESIGNATED BY BORROWER IN THE NOTICE OF INTEREST
RATE ELECTION PROVIDED BORROWER SHALL PAY ANY LOSSES PURSUANT TO SECTION 2.12.
Each such election shall be made by delivering a notice (a "Notice of Interest
Rate Election") to the Administrative Agent at least three (3) Euro-Currency
Business Days prior to, but excluding, the effective date of the conversion or
continuation selected in such notice.
A Notice of Interest Rate Election may,
if it so specifies, apply to only a portion of the aggregate principal amount of
the relevant Group of Loans; provided that (i) such portion is allocated ratably
among the Loans comprising such Group, (ii) the