SUCH EURODOLLAR RATE LOANS
SHALL BE AUTOMATICALLY CONVERTED INTO FLOATING RATE LOANS UNLESS THE BORROWER
SHALL HAVE GIVEN THE ADMINISTRATIVE AGENT NOTICE IN ACCORDANCE WITH
SECTION 2.9(D) REQUESTING THAT, AT THE END OF SUCH INTEREST PERIOD, SUCH
EURODOLLAR RATE LOANS CONTINUE AS A EURODOLLAR RATE LOAN.
(C)
NO CONVERSION POST-DEFAULT; LIMITED
CONVERSION POST-UNMATURED DEFAULT.
NOTWITHSTANDING ANYTHING TO THE CONTRARY
CONTAINED IN SECTION 2.9(A) OR SECTION 2.9(B), (X) NO LOAN MAY BE CONVERTED INTO
OR CONTINUED AS A EURODOLLAR RATE LOAN (EXCEPT WITH THE CONSENT OF THE REQUIRED
LENDERS) WHEN ANY DEFAULT HAS OCCURRED AND IS CONTINUING AND (Y) NO LOAN MAY BE
CONVERTED INTO OR CONTINUED AS A EURODOLLAR RATE LOAN WITH AN INTEREST PERIOD
GREATER THAN ONE MONTH (EXCEPT WITH THE CONSENT OF THE REQUIRED LENDERS) WHEN
ANY UNMATURED DEFAULT HAS OCCURRED AND IS CONTINUING.
(D)
BORROWING/ELECTION NOTICE.
THE BORROWER SHALL
GIVE THE ADMINISTRATIVE AGENT AN IRREVOCABLE BORROWING/ELECTION NOTICE OF EACH
CONVERSION OF A FLOATING RATE LOAN INTO A EURODOLLAR RATE LOAN OR CONTINUATION
OF A EURODOLLAR RATE LOAN NOT LATER THAN 12:00 NOON
27
(CHICAGO TIME) THREE (3) BUSINESS DAYS PRIOR TO THE DATE OF THE REQUESTED
CONVERSION OR CONTINUATION, WITH RESPECT TO ANY LOAN TO BE CONVERTED OR
CONTINUED AS A EURODOLLAR RATE LOAN SPECIFYING: (I) THE REQUESTED DATE (WHICH
SHALL BE A BUSINESS DAY) OF SUCH CONVERSION OR CONTINUATION; (II) THE AMOUNT AND
TYPE OF THE LOAN TO BE CONVERTED OR CONTINUED; AND (III) THE AMOUNT OF
EURODOLLAR RATE LOAN(S) INTO WHICH SUCH LOAN IS TO BE CONVERTED OR CONTINUED,
AND THE DURATION OF THE INTEREST PERIOD APPLICABLE THERETO.
2.10
DEFAULT RATE.
AFTER THE OCCURRENCE AND DURING
THE CONTINUANCE OF A DEFAULT, AT THE OPTION OF THE ADMINISTRATIVE AGENT OR AT
THE DIRECTION OF THE REQUIRED LENDERS, THE INTEREST RATE(S) APPLICABLE TO THE
OBLIGATIONS SHALL BE EQUAL TO THE FLOATING RATE HEREUNDER PLUS TWO
PERCENT (2.0%) PER ANNUM, AND THE LETTER OF CREDIT FEE DESCRIBED IN
SECTION 3.8(A) SHALL BE EQUAL TO THE THEN APPLICABLE LC FEE PERCENTAGE PLUS TWO
PERCENT (2.0%) PER ANNUM.
2.11
METHOD OF PAYMENT.
(A) ALL PAYMENTS OF
PRINCIPAL, INTEREST, FEES, COMMISSIONS AND L/C OBLIGATIONS HEREUNDER SHALL BE
MADE, WITHOUT SETOFF, DEDUCTION OR COUNTERCLAIM (UNLESS INDICATED OTHERWISE IN
SECTION 2.14(E)), IN IMMEDIATELY AVAILABLE FUNDS TO THE ADMINISTRATIVE AGENT
(I) AT THE ADMINISTRATIVE AGENT'S ADDRESS SPECIFIED PURSUANT TO ARTICLE XIV WITH
RESPECT TO ADVANCES OR OTHER OBLIGATIONS AT ANY OTHER LENDING INSTALLATION OF
THE ADMINISTRATIVE AGENT SPECIFIED IN WRITING BY THE ADMINISTRATIVE AGENT TO THE
BORROWER, BY 12:00 P.M. (CHICAGO TIME) ON THE DATE WHEN DUE AND SHALL BE MADE
RATABLY AMONG THE LENDERS (UNLESS SUCH AMOUNT IS NOT TO BE SHARED RATABLY IN
ACCORDANCE WITH THE TERMS HEREOF).
EACH ADVANCE SHALL BE REPAID OR PREPAID IN
THE DOLLAR AMOUNT BORROWED AND INTEREST PAYABLE THEREON SHALL ALSO BE PAID IN
SUCH CURRENCY.
EACH PAYMENT DELIVERED TO THE ADMINISTRATIVE AGENT FOR THE
ACCOUNT OF ANY LENDER SHALL BE DELIVERED PROMPTLY BY THE ADMINISTRATIVE AGENT TO
SUCH LENDER IN THE SAME TYPE OF FUNDS