AGENT AT ANY TIME AND FROM TIME TO TIME IN THE EXERCISE OF ITS REASONABLE
DISCRETION.
EACH BORROWER CONSENTS TO ANY SUCH INCREASES OR DECREASES AND
ACKNOWLEDGES THAT DECREASING THE ADVANCE RATES OR INCREASING OR IMPOSING
RESERVES MAY LIMIT OR RESTRICT ADVANCES REQUESTED BY BORROWING AGENT.
THE
RIGHTS OF AGENT UNDER THIS SUBSECTION ARE SUBJECT TO THE PROVISIONS OF SECTION
16.2(B).
2.2.
Procedure for Revolving Advances Borrowing.
(A)
BORROWING AGENT ON BEHALF OF ANY BORROWER MAY NOTIFY AGENT PRIOR TO 10:00
A.M. (EASTERN STANDARD TIME) ON A BUSINESS DAY OF A BORROWER'S REQUEST TO INCUR,
ON THAT DAY, A REVOLVING ADVANCE HEREUNDER.
SHOULD ANY AMOUNT REQUIRED TO BE
PAID AS INTEREST HEREUNDER, OR AS FEES OR OTHER CHARGES UNDER THIS AGREEMENT OR
ANY OTHER AGREEMENT WITH AGENT OR LENDERS, OR WITH RESPECT TO ANY OTHER
OBLIGATION, BECOME DUE, SAME SHALL BE DEEMED A REQUEST FOR A REVOLVING ADVANCE
AS OF THE DATE SUCH PAYMENT IS DUE, IN THE AMOUNT REQUIRED TO PAY IN FULL SUCH
INTEREST, FEE, CHARGE OR OBLIGATION UNDER THIS AGREEMENT OR ANY OTHER AGREEMENT
WITH AGENT OR LENDERS, AND SUCH REQUEST SHALL BE IRREVOCABLE.
(B)
NOTWITHSTANDING THE PROVISIONS OF SUBSECTION (A) ABOVE, IN THE EVENT ANY
BORROWER DESIRES TO OBTAIN A EURODOLLAR RATE LOAN, BORROWING AGENT SHALL GIVE
AGENT WRITTEN
29
NOTICE BY NO LATER THAN 10:00 A.M. (EASTERN STANDARD TIME) ON THE DAY WHICH IS
THREE (3) BUSINESS DAYS PRIOR TO THE DATE SUCH EURODOLLAR RATE LOAN IS TO BE
BORROWED, SPECIFYING (I) THE DATE OF THE PROPOSED BORROWING (WHICH SHALL BE A
BUSINESS DAY), (II) THE TYPE OF BORROWING AND THE AMOUNT ON THE DATE OF SUCH
ADVANCE TO BE BORROWED, WHICH AMOUNT SHALL BE FOR AT LEAST $500,000 AND IF
GREATER, IN AN INTEGRAL MULTIPLE OF $100,000 AND (III) THE DURATION OF THE FIRST
INTEREST PERIOD THEREFOR.
INTEREST PERIODS FOR EURODOLLAR RATE LOANS SHALL BE
FOR ONE, TWO OR THREE MONTHS; PROVIDED, IF AN INTEREST PERIOD WOULD END ON A DAY
THAT IS NOT A BUSINESS DAY, IT SHALL END ON THE NEXT SUCCEEDING BUSINESS DAY
UNLESS SUCH DAY FALLS IN THE NEXT SUCCEEDING CALENDAR MONTH IN WHICH CASE THE
INTEREST PERIOD SHALL END ON THE NEXT PRECEDING BUSINESS DAY.
NO EURODOLLAR
RATE LOAN SHALL BE MADE AVAILABLE TO ANY BORROWER DURING THE CONTINUANCE OF A
DEFAULT OR AN EVENT OF DEFAULT.
AFTER GIVING EFFECT TO EACH REQUESTED
EURODOLLAR RATE LOAN, INCLUDING THOSE WHICH ARE CONVERTED FROM A DOMESTIC RATE
LOAN UNDER SECTION 2.2(D), THERE SHALL NOT BE OUTSTANDING MORE THAN SIX (6)
EURODOLLAR RATE LOANS, IN THE AGGREGATE.
(C)
EACH INTEREST PERIOD OF A EURODOLLAR RATE LOAN SHALL COMMENCE ON THE DATE
SUCH EURODOLLAR RATE LOAN IS MADE AND SHALL END ON SUCH DATE AS BORROWING AGENT
MAY ELECT AS SET FORTH IN SUBSECTION (B)(III) ABOVE PROVIDED THAT THE EXACT
LENGTH OF EACH INTEREST PERIOD SHALL BE DETERMINED IN ACCORDANCE WITH THE
PRACTICE OF THE INTERBANK MARKET FOR OFFSHORE DOLLAR DEPOSITS AND NO INTEREST
PERIOD SHALL END AFTER THE LAST DAY OF