A BUSINESS DAY;
(III) IN THE CASE OF AN ELECTION RESULTING IN A BORROWING, THE TYPE OF SUCH
BORROWING AND (A) IF THE RESULTING BORROWING IS A EUROCURRENCY BORROWING, THE
INTEREST PERIOD TO BE APPLICABLE THERETO AFTER GIVING EFFECT TO SUCH ELECTION,
WHICH SHALL BE A PERIOD CONTEMPLATED BY THE DEFINITION OF THE TERM "INTEREST
PERIOD", OR (B) IN THE CASE OF AN ELECTION RESULTING IN A BA DRAWING, THE
CONTRACT PERIOD TO BE APPLICABLE THERETO, WHICH SHALL BE A PERIOD CONTEMPLATED
BY THE DEFINITION OF THE TERM "CONTRACT PERIOD".
If any such Interest Election Request requests a Eurocurrency Borrowing or a BA
Drawing but does not specify an Interest Period or Contract Period, then the
applicable Borrower shall be deemed to have selected an Interest Period of one
month's duration or a Contract Period of 30 days' duration.
(D)
PROMPTLY FOLLOWING RECEIPT OF AN INTEREST ELECTION REQUEST, THE
ADMINISTRATIVE AGENT SHALL ADVISE EACH LENDER OF THE DETAILS THEREOF AND OF SUCH
LENDER'S PORTION OF EACH RESULTING BORROWING OR BA DRAWING.
(E)
IF THE APPLICABLE BORROWER FAILS TO DELIVER A TIMELY INTEREST ELECTION
REQUEST WITH RESPECT TO A EUROCURRENCY BORROWING OR BA DRAWING PRIOR TO THE END
OF THE INTEREST PERIOD OR CONTRACT PERIOD APPLICABLE THERETO, THEN, UNLESS SUCH
BORROWING OR BA DRAWING IS REPAID AS PROVIDED HEREIN, AT THE END OF SUCH
INTEREST PERIOD OR CONTRACT PERIOD, (I) IN THE CASE OF A EUROCURRENCY BORROWING,
SUCH BORROWING SHALL BE CONVERTED TO AN ABR BORROWING, AND (II) IN THE CASE OF A
BORROWING OR BA DRAWING DENOMINATED IN CANADIAN DOLLARS, SUCH BORROWING OR BA
DRAWING SHALL BE CONVERTED TO A CANADIAN PRIME REVOLVING BORROWING.
(F)
UPON THE CONVERSION OF ANY BORROWING (OR PORTION THEREOF), OR THE
CONTINUATION OF ANY BA DRAWING (OR PORTION THEREOF), TO OR AS A BA DRAWING, THE
NET AMOUNT THAT WOULD OTHERWISE BE PAYABLE TO THE CANADIAN BORROWER BY EACH
LENDER PURSUANT TO SECTION 2.07(F) IN RESPECT OF SUCH NEW BA DRAWING SHALL BE
APPLIED AGAINST THE PRINCIPAL OF SUCH BORROWING (IN THE CASE OF A CONVERSION) OR
THE REIMBURSEMENT OBLIGATION OWED TO SUCH LENDER UNDER SECTION 2.07(I) IN
RESPECT OF THE BAS ACCEPTED BY SUCH LENDER AS PART OF SUCH MATURING BA DRAWING
(IN THE CASE OF A CONTINUATION), AND THE CANADIAN BORROWER SHALL PAY TO SUCH
LENDER AN AMOUNT EQUAL TO THE DIFFERENCE BETWEEN THE PRINCIPAL AMOUNT OF SUCH
LOAN OR THE AGGREGATE FACE AMOUNT OF SUCH MATURING BAS, AS THE CASE MAY BE, AND
SUCH NET AMOUNT.
(G)
NOTWITHSTANDING ANY CONTRARY PROVISION HEREOF, IF AN EVENT OF DEFAULT HAS
OCCURRED AND IS CONTINUING AND THE ADMINISTRATIVE AGENT, AT THE REQUEST OF THE
REQUIRED LENDERS, SO NOTIFIES THE BORROWERS, THEN, SO LONG AS AN EVENT OF
DEFAULT IS CONTINUING (I) NO OUTSTANDING BORROWING OR BA DRAWING MAY BE
CONVERTED TO OR CONTINUED AS A EUROCURRENCY BORROWING OR A BA DRAWING AND
(II) UNLESS REPAID, EACH EUROCURRENCY BORROWING OR BA DRAWING SHALL BE CONVERTED
TO AN ABR BORROWING OR A
61
CANADIAN PRIME REVOLVING