or
Continuation with respect to any Borrowing bearing interest with reference to
the Eurocurrency Rate, the Borrower shall elect, by giving the Administrative
Agent written notice, the interest period (each an "Interest Period") applicable
thereto, which Interest Period shall, at the option of the Borrower, be one,
two, three or six months or, if available or otherwise satisfactory to each of
the applicable Lenders (as determined by each such applicable Lender in its sole
discretion) a nine or twelve month period, provided that:
(A)
ALL EUROCURRENCY LOANS COMPRISING A SINGLE
BORROWING SHALL AT ALL TIMES HAVE THE SAME INTEREST PERIOD;
(B)
THE INITIAL INTEREST PERIOD FOR ANY
EUROCURRENCY LOAN SHALL COMMENCE ON THE DATE OF SUCH BORROWING OF SUCH
EUROCURRENCY LOAN (INCLUDING THE DATE OF ANY CONVERSION THERETO FROM A LOAN OF A
DIFFERENT TYPE) AND EACH INTEREST PERIOD OCCURRING THEREAFTER IN RESPECT OF SUCH
EUROCURRENCY LOAN SHALL COMMENCE ON THE LAST DAY OF THE IMMEDIATELY PRECEDING
INTEREST PERIOD;
(C)
IF ANY INTEREST PERIOD RELATING TO A
EUROCURRENCY LOAN BEGINS ON A DAY FOR WHICH THERE IS NO NUMERICALLY
CORRESPONDING DAY IN THE CALENDAR MONTH AT THE END OF SUCH INTEREST PERIOD, SUCH
INTEREST PERIOD SHALL END ON THE LAST BUSINESS DAY OF SUCH CALENDAR MONTH;
(D)
IF ANY INTEREST PERIOD WOULD OTHERWISE
EXPIRE ON A DAY WHICH IS NOT A BUSINESS DAY, SUCH INTEREST PERIOD SHALL EXPIRE
ON THE NEXT SUCCEEDING BUSINESS DAY; PROVIDED, HOWEVER, THAT IF ANY INTEREST
PERIOD FOR A EUROCURRENCY LOAN WOULD OTHERWISE EXPIRE ON A DAY WHICH IS NOT A
BUSINESS DAY BUT IS A DAY OF THE MONTH AFTER WHICH NO FURTHER BUSINESS DAY
OCCURS IN SUCH MONTH, SUCH INTEREST PERIOD SHALL EXPIRE ON THE NEXT PRECEDING
BUSINESS DAY;
74
(E)
AT ANY TIME WHEN AN EVENT OF DEFAULT IS
THEN IN EXISTENCE, NO INTEREST PERIOD (A) OF MORE THAN ONE MONTH MAY BE SELECTED
WITH RESPECT TO ANY LOAN DENOMINATED IN AN ALTERNATIVE CURRENCY AND (B) MAY BE
SELECTED WITH RESPECT TO ANY LOAN DENOMINATED IN DOLLARS;
(F)
NO INTEREST PERIOD SHALL EXTEND BEYOND
THE APPLICABLE TERM MATURITY DATE FOR ANY TERM LOAN OR THE REVOLVER TERMINATION
DATE FOR ANY REVOLVING LOAN; AND
(G)
NO INTEREST PERIOD IN RESPECT OF ANY
BORROWING OF TERM LOANS FOR ANY TERM FACILITY SHALL BE SELECTED WHICH EXTENDS
BEYOND ANY DATE UPON WHICH A SCHEDULED TERM REPAYMENT WILL BE REQUIRED TO BE
MADE UNDER SECTION 4.4(B) FOR SUCH TERM FACILITY IF THE AGGREGATE PRINCIPAL
AMOUNT OF ALL TERM LOANS WHICH HAVE INTEREST PERIODS WHICH WILL EXPIRE AFTER
SUCH DATE WILL BE IN EXCESS OF THE AGGREGATE PRINCIPAL AMOUNT OF TERM B LOANS
THEN OUTSTANDING LESS THE AGGREGATE AMOUNT OF SUCH REQUIRED PREPAYMENT.
Notwithstanding anything to the contrary herein (i) with respect to Term B
Dollar Loans, the Borrower may only have Base Rate Loans and Eurocurrency Loans
with a one month Interest Period for the first 30 days after the Effective Date
or, if earlier, the date on which the Administrative Agent informs the Borrower
of