FOR A SINGLE INTEREST PERIOD.
BORROWINGS ARE
CLASSIFIED FOR PURPOSES OF THIS AGREEMENT EITHER BY REFERENCE TO THE PRICING OF
LOANS COMPRISING SUCH BORROWING (E.G., A "FIXED RATE BORROWING" IS A EURO-DOLLAR
BORROWING, A CD BORROWING OR A MONEY MARKET BORROWING (EXCLUDING ANY SUCH
BORROWING CONSISTING OF MONEY MARKET LIBOR LOANS BEARING INTEREST AT THE BASE
RATE PURSUANT TO SECTION 8.01), AND A "EURO-DOLLAR BORROWING" IS A BORROWING
COMPRISED OF EURO-DOLLAR LOANS) OR BY REFERENCE TO THE PROVISIONS OF ARTICLE 2
UNDER WHICH PARTICIPATION THEREIN IS DETERMINED (I.E., A "COMMITTED BORROWING"
IS A BORROWING UNDER SECTION 2.01 IN WHICH ALL BANKS PARTICIPATE IN PROPORTION
TO THEIR COMMITMENTS, WHILE A "MONEY MARKET BORROWING" IS A BORROWING UNDER
SECTION 2.03 IN WHICH THE BANK PARTICIPANTS ARE DETERMINED ON THE BASIS OF THEIR
BIDS IN ACCORDANCE THEREWITH).
ARTICLE 2
THE CREDITS
SECTION 2.01.
COMMITMENTS TO LEND.
DURING THE REVOLVING CREDIT PERIOD, EACH
BANK SEVERALLY AGREES, ON THE TERMS AND CONDITIONS SET FORTH IN THIS AGREEMENT,
TO MAKE LOANS TO THE BORROWER PURSUANT TO THIS SECTION FROM TIME TO TIME IN
AMOUNTS SUCH THAT THE REVOLVING EXPOSURE OF A BANK SHALL NOT EXCEED SUCH BANK'S
COMMITMENT.
EACH BORROWING UNDER THIS SECTION SHALL BE IN AN AGGREGATE
PRINCIPAL AMOUNT OF $10,000,000 OR ANY LARGER MULTIPLE OF $1,000,000 (EXCEPT
THAT ANY SUCH BORROWING MAY BE IN THE AGGREGATE AMOUNT AVAILABLE IN ACCORDANCE
WITH SECTION 3.02(C)) AND SHALL BE MADE FROM THE SEVERAL BANKS IN ACCORDANCE
WITH THEIR RESPECTIVE APPLICABLE PERCENTAGES.
WITHIN THE FOREGOING LIMITS, THE
BORROWER MAY BORROW UNDER THIS SECTION, TO THE EXTENT PERMITTED BY SECTION 2.12,
PREPAY LOANS AND REBORROW AT ANY TIME DURING THE REVOLVING CREDIT PERIOD UNDER
THIS SECTION.
SECTION 2.02.
NOTICE OF COMMITTED BORROWING.
THE BORROWER SHALL GIVE THE
ADMINISTRATIVE AGENT NOTICE (A "NOTICE OF COMMITTED BORROWING") NOT LATER THAN
10:30 A.M. (NEW YORK CITY TIME) ON (X) THE DATE OF EACH BASE RATE BORROWING,
(Y) THE SECOND DOMESTIC BUSINESS DAY BEFORE EACH CD BORROWING AND (Z) THE THIRD
EURO-DOLLAR BUSINESS DAY BEFORE EACH EURO-DOLLAR BORROWING, SPECIFYING:
(I)
THE DATE OF SUCH BORROWING, WHICH SHALL
BE A DOMESTIC BUSINESS DAY IN THE CASE OF A DOMESTIC BORROWING OR A EURO-DOLLAR
BUSINESS DAY IN THE CASE OF A EURO-DOLLAR BORROWING;
(II)
THE AGGREGATE AMOUNT OF SUCH BORROWING,
WHICH SHALL BE $10,000,000 OR A LARGER MULTIPLE OF $1,000,000 OR, IN THE CASE OF
A BASE RATE BORROWING ONLY, AN AMOUNT THAT IS REQUIRED
12
TO FINANCE THE REIMBURSEMENT OF AN LC DISBURSEMENT AS CONTEMPLATED BY
SECTION 2.17(E) EXCEPT THAT ANY BORROWING MAY BE IN THE AGGREGATE AMOUNT
AVAILABLE IN ACCORDANCE WITH SECTION 3.02(C));
(III)
WHETHER THE LOANS COMPRISING SUCH BORROWING
ARE TO BEAR INTEREST INITIALLY AT THE BASE RATE, A CD RATE OR A EURO-DOLLAR
RATE; AND
(IV)
IN THE CASE OF A FIXED RATE BORROWING, THE
DURATION OF THE INITIAL INTEREST PERIOD APPLICABLE THERETO, SUBJECT TO THE
PROVISIONS OF THE DEFINITION OF INTEREST PERIOD.
SECTION 2.03.
MONEY MARKET BORROWINGS.
(A) THE MONEY MARKET OPTION.
IN
ADDITION TO COMMITTED BORROWINGS PURSUANT TO