SUCH PERSON WILL NOT
MAKE ITS SHARE OF ANY LOAN AVAILABLE ON THE APPLICABLE LOAN DATE THEREFOR, SUCH
MANAGING AGENT MAY (BUT SHALL HAVE NO OBLIGATION TO) MAKE ANY SUCH BANK
INVESTOR'S SHARE OF ANY LOAN AVAILABLE TO THE BORROWER IN ANTICIPATION OF THE
RECEIPT BY SUCH MANAGING AGENT OF SUCH AMOUNT FROM THE APPLICABLE BANK
INVESTOR.
TO THE EXTENT ANY SUCH BANK INVESTOR FAILS TO REMIT ANY SUCH AMOUNT
TO A MANAGING AGENT AFTER ANY SUCH ADVANCE BY SUCH MANAGING AGENT ON SUCH LOAN
DATE, SUCH BANK INVESTOR SHALL BE REQUIRED TO PAY SUCH AMOUNT TO SUCH MANAGING
AGENT FOR ITS OWN ACCOUNT, TOGETHER WITH INTEREST THEREON AT A PER ANNUM RATE
EQUAL TO THE FEDERAL FUNDS RATE, UPON ITS DEMAND THEREFOR (PROVIDED THAT NO
LENDER SHALL HAVE AN OBLIGATION TO PAY SUCH INTEREST AMOUNTS EXCEPT TO THE
EXTENT THAT IT SHALL HAVE SUFFICIENT FUNDS TO PAY THE FACE AMOUNT OF ITS
COMMERCIAL PAPER IN FULL).
UNTIL SUCH AMOUNT SHALL BE REPAID, SUCH AMOUNT SHALL
BE DEEMED TO BE NET INVESTMENT PAID BY A MANAGING AGENT AND SUCH MANAGING AGENT
SHALL BE DEEMED TO HAVE AN INTEREST IN THE NET INVESTMENT HEREUNDER TO THE
EXTENT OF SUCH LOAN.
UPON THE PAYMENT OF SUCH AMOUNT TO A MANAGING AGENT BY
SUCH BANK INVESTOR, SUCH PAYMENT SHALL CONSTITUTE SUCH PERSON'S PAYMENT OF ITS
SHARE OF THE APPLICABLE LOAN.
(F)
DEFAULTING BANK INVESTOR.
IF, BY
2:00 P.M. (NEW YORK CITY TIME) ON ANY LOAN DATE, WHETHER OR NOT A MANAGING AGENT
HAS ADVANCED THE AMOUNT OF THE APPLICABLE LOAN, ONE OR MORE BANK INVESTORS
(EACH, A "DEFAULTING BANK INVESTOR", AND EACH BANK INVESTOR OTHER THAN ANY
DEFAULTING BANK INVESTOR BEING REFERRED TO AS A "NON-DEFAULTING BANK INVESTOR")
FAILS TO MAKE ITS PRO RATA SHARE OF ANY LOAN AVAILABLE TO THE AGENT PURSUANT TO
SECTION 2.3(D) OR ANY ASSIGNMENT AMOUNT PAYABLE BY IT PURSUANT TO
SECTION 2.14(A) (THE AGGREGATE AMOUNT NOT SO MADE AVAILABLE TO A MANAGING AGENT
BEING HEREIN CALLED IN EITHER CASE THE "LOAN DEFICIT"), THEN THE RELATED
MANAGING AGENT SHALL, BY NO LATER THAN 2:30 P.M. (NEW YORK CITY TIME) ON THE
APPLICABLE LOAN DATE OR THE APPLICABLE ASSIGNMENT DATE, AS THE CASE MAY BE,
INSTRUCT EACH NON-DEFAULTING BANK INVESTOR TO PAY, BY NO LATER THAN 3:00 P.M.
(NEW YORK CITY TIME), IN IMMEDIATELY AVAILABLE FUNDS, TO THE ACCOUNT DESIGNATED
BY SUCH MANAGING AGENT, AN AMOUNT EQUAL TO THE LESSER OF (I) SUCH NON-DEFAULTING
BANK INVESTOR'S PROPORTIONATE SHARE (BASED UPON THE RELATIVE COMMITMENTS OF THE
NON-DEFAULTING BANK INVESTORS) OF THE LOAN DEFICIT AND (II) ITS UNUSED
COMMITMENT.
A DEFAULTING BANK INVESTOR SHALL FORTHWITH, UPON DEMAND, PAY TO
SUCH MANAGING AGENT FOR THE RATABLE BENEFIT OF THE NON-DEFAULTING BANK INVESTORS
ALL AMOUNTS PAID BY EACH NON-DEFAULTING BANK INVESTOR ON BEHALF OF SUCH
DEFAULTING BANK INVESTOR, TOGETHER WITH INTEREST THEREON, FOR EACH DAY FROM THE
DATE A PAYMENT WAS MADE BY A NON-DEFAULTING BANK INVESTOR UNTIL THE DATE SUCH
NON-DEFAULTING BANK INVESTOR HAS BEEN PAID SUCH AMOUNTS IN FULL, AT A RATE