RATE REVOLVING BORROWING TO FINANCE THE REIMBURSEMENT OF AN L/C
DISBURSEMENT AS CONTEMPLATED BY SECTION 2.05(E) MAY BE GIVEN NOT LATER THAN
11:00 A.M., TORONTO TIME, ON THE DATE OF THE PROPOSED BORROWING, AND (D) IN THE
CASE OF A U.S. BASE RATE REVOLVING BORROWING, NOT LATER THAN 12:00 NOON, TORONTO
TIME, ONE BUSINESS DAY BEFORE THE DATE OF THE PROPOSED BORROWING.
EACH SUCH
BORROWING REQUEST SHALL BE IRREVOCABLE AND, IF TELEPHONIC, SHALL BE CONFIRMED
PROMPTLY BY HAND DELIVERY OR FACSIMILE TO THE ADMINISTRATIVE AGENT OF A WRITTEN
BORROWING REQUEST IN A FORM APPROVED BY THE ADMINISTRATIVE AGENT AND SIGNED BY
THE APPLICABLE BORROWER.
EACH SUCH WRITTEN AND TELEPHONIC BORROWING REQUEST
SHALL SPECIFY THE FOLLOWING INFORMATION:
(I) THE BORROWER REQUESTING SUCH BORROWING;
(II) WHETHER SUCH BORROWING IS TO BE A U.S. REVOLVING BORROWING, A CANADIAN
REVOLVING BORROWING OR A TERM BORROWING;
(III) THE CURRENCY AND AGGREGATE AMOUNT OF SUCH BORROWING;
(IV) THE DATE OF SUCH BORROWING, WHICH SHALL BE A BUSINESS DAY;
(V) WHETHER SUCH BORROWING IS TO BE AN ABR BORROWING, U.S. BASE RATE REVOLVING
BORROWING, CANADIAN BASE RATE REVOLVING BORROWING OR EURODOLLAR BORROWING;
(VI) IN THE CASE OF A EURODOLLAR BORROWING, THE INITIAL INTEREST PERIOD TO BE
APPLICABLE THERETO, WHICH SHALL BE A PERIOD CONTEMPLATED BY THE DEFINITION OF
THE TERM "INTEREST PERIOD";
(VII) THE LOCATION AND NUMBER OF THE APPLICABLE BORROWER'S ACCOUNT TO WHICH
FUNDS ARE TO BE DISBURSED, WHICH SHALL COMPLY WITH THE REQUIREMENTS OF
SECTION 2.07; AND
(VIII) THAT AS OF SUCH DATE SECTION 4.02(A) IS SATISFIED.
If no election as to the Type of Borrowing is specified, then the requested
Borrowing shall be (A) in the case of a U.S. Revolving Borrowing, an ABR
Revolving Borrowing, (B) in the case of a Canadian Revolving Borrowing, a
Canadian Base Rate Revolving Borrowing, and (C) in the case of a Term Borrowing,
an ABR Term Borrowing.
If no Interest Period is specified with respect to any
requested Eurodollar Borrowing, then the applicable Borrower shall be deemed to
have selected an Interest Period of one month's duration.
Promptly following
receipt of a Borrowing Request in accordance with this Section 2.03, the
Administrative Agent shall advise each Lender of the details thereof and the
amount of such Lender's Loan to be made as part of the requested Borrowing.
If
no currency is specified with respect to any Canadian Revolving Borrowing, then
the currency of such Canadian Revolving Borrowing shall be Canadian Dollars
(unless the applicable Borrowing Request otherwise specified that such Borrowing
shall be a U.S. Base Rate Canadian Revolving Borrowing or a Eurodollar Canadian
Revolving
51
Borrowing, in which case the currency of such Canadian Revolving Borrowing shall
be U.S. Dollars).
SECTION 2.04.
SWINGLINE LOANS.
(A)
SUBJECT TO THE TERMS AND CONDITIONS SET
FORTH HEREIN, THE SWINGLINE LENDER AGREES TO MAKE SWINGLINE LOANS TO THE PARENT
BORROWER AND THE CANADIAN SUBSIDIARY BORROWER, FROM TIME TO TIME DURING THE
AVAILABILITY PERIOD, IN AN AGGREGATE PRINCIPAL AMOUNT AT ANY TIME OUTSTANDING
THAT WILL NOT RESULT IN (I) THE