the
Administrative Agent shall advise each Lender of the details thereof and of the
amount of such Lender's Loan to be made as part of the requested Borrowing.
SECTION 2.05.
[RESERVED]
SECTION 2.06.
FUNDING OF BORROWINGS.
(A)
EACH LENDER SHALL MAKE EACH LOAN TO BE MADE
BY IT HEREUNDER ON THE EFFECTIVE DATE BY WIRE TRANSFER OF IMMEDIATELY AVAILABLE
FUNDS BY 12:00 NOON TO THE ACCOUNT OF THE ADMINISTRATIVE AGENT MOST RECENTLY
DESIGNATED BY IT FOR SUCH PURPOSE BY NOTICE TO THE LENDERS.
THE ADMINISTRATIVE
AGENT WILL MAKE SUCH LOANS AVAILABLE TO THE BORROWER BY PROMPTLY CREDITING THE
AMOUNTS SO RECEIVED, IN LIKE FUNDS, TO AN ACCOUNT OF THE BORROWER DESIGNATED BY
THE BORROWER IN THE APPLICABLE BORROWING REQUEST.
20
(B)
UNLESS THE ADMINISTRATIVE AGENT SHALL HAVE
RECEIVED NOTICE FROM A LENDER PRIOR TO THE EFFECTIVE DATE THAT SUCH LENDER WILL
NOT MAKE AVAILABLE TO THE ADMINISTRATIVE AGENT SUCH LENDER'S SHARE OF SUCH
BORROWING TO BE MADE ON THE EFFECTIVE DATE, THE ADMINISTRATIVE AGENT MAY ASSUME
THAT SUCH LENDER HAS MADE SUCH SHARE AVAILABLE ON SUCH DATE IN ACCORDANCE WITH
PARAGRAPH (A) OF THIS SECTION AND MAY, IN RELIANCE UPON SUCH ASSUMPTION, MAKE
AVAILABLE TO THE BORROWER A CORRESPONDING AMOUNT.
IN SUCH EVENT, IF A LENDER
HAS NOT IN FACT MADE ITS SHARE OF THE APPLICABLE BORROWING AVAILABLE TO THE
ADMINISTRATIVE AGENT, THEN THE APPLICABLE LENDER AND THE BORROWER SEVERALLY
AGREE TO PAY TO THE ADMINISTRATIVE AGENT FORTHWITH ON DEMAND SUCH CORRESPONDING
AMOUNT WITH INTEREST THEREON, FOR EACH DAY FROM AND INCLUDING THE DATE SUCH
AMOUNT IS MADE AVAILABLE TO THE BORROWER TO BUT EXCLUDING THE DATE OF PAYMENT TO
THE ADMINISTRATIVE AGENT, AT (I) IN THE CASE OF SUCH LENDER, THE GREATER OF THE
FEDERAL FUNDS EFFECTIVE RATE AND A RATE DETERMINED BY THE ADMINISTRATIVE AGENT
IN ACCORDANCE WITH BANKING INDUSTRY RULES ON INTERBANK COMPENSATION OR (II) IN
THE CASE OF THE BORROWER, THE INTEREST RATE APPLICABLE TO ABR LOANS.
IF SUCH
LENDER PAYS SUCH AMOUNT TO THE ADMINISTRATIVE AGENT, THEN SUCH AMOUNT SHALL
CONSTITUTE SUCH LENDER'S LOAN INCLUDED IN SUCH BORROWING.
SECTION 2.07.
INTEREST ELECTIONS.
(A)
THE BORROWING TO BE MADE ON THE EFFECTIVE
DATE SHALL BE AN ABR BORROWING; PROVIDED THAT THE INTEREST PERIOD FOR ANY
EURODOLLAR BORROWING REQUESTED ON THE EFFECTIVE DATE AND DURING THE THIRTY (30)
DAY PERIOD FOLLOWING THE EFFECTIVE DATE PURSUANT TO AN INTEREST ELECTION REQUEST
SHALL BE OF ONE (1) MONTH'S DURATION, UNLESS OTHERWISE AGREED BY THE BORROWER
AND THE ADMINISTRATIVE AGENT.
THEREAFTER, THE BORROWER MAY ELECT TO CONVERT
SUCH LOANS TO A DIFFERENT TYPE OR TO CONTINUE SUCH LOANS AND, IN THE CASE OF
EURODOLLAR LOANS, MAY ELECT INTEREST PERIODS THEREFOR, ALL AS PROVIDED IN THIS
SECTION.
THE BORROWER MAY ELECT DIFFERENT OPTIONS WITH RESPECT TO DIFFERENT
PORTIONS OF THE LOANS, IN WHICH CASE EACH SUCH PORTION SHALL BE ALLOCATED
RATABLY AMONG THE LENDERS HOLDING THE LOANS COMPRISING SUCH BORROWING, AND THE
LOANS COMPRISING EACH SUCH PORTION SHALL BE CONSIDERED A SEPARATE BORROWING.
(B)
TO MAKE AN ELECTION PURSUANT TO