RESPECT TO ANY PARTICIPATION SHALL BE FOR THE
ACCOUNT OF THE SWINGLINE LENDER UNTIL BUT EXCLUDING THE DAY UPON WHICH THE
MANDATORY BORROWING WOULD OTHERWISE HAVE OCCURRED, AND (B) IN THE EVENT OF A
DELAY BETWEEN THE DAY UPON WHICH THE MANDATORY BORROWING WOULD OTHERWISE HAVE
OCCURRED AND THE TIME ANY PURCHASE OF A PARTICIPATION PURSUANT TO THIS SENTENCE
IS ACTUALLY MADE, THE PURCHASING BANK SHALL BE REQUIRED TO PAY TO THE SWINGLINE
LENDER INTEREST ON THE PRINCIPAL AMOUNT OF SUCH PARTICIPATION FOR EACH DAY FROM
AND INCLUDING THE DAY UPON WHICH THE MANDATORY BORROWING WOULD OTHERWISE HAVE
OCCURRED TO BUT EXCLUDING THE DATE OF PAYMENT FOR SUCH PARTICIPATION, AT THE
RATE EQUAL TO THE FEDERAL FUNDS RATE, FOR THE TWO (2) BUSINESS DAYS AFTER THE
DATE THE MANDATORY BORROWING WOULD OTHERWISE HAVE OCCURRED, AND THEREAFTER AT A
RATE EQUAL TO THE BASE RATE.
NOTWITHSTANDING THE FOREGOING, NO BANK SHALL BE
OBLIGATED TO PURCHASE A PARTICIPATION IN ANY SWINGLINE LOAN IF A DEFAULT OR AN
EVENT OF DEFAULT THEN EXISTS AND SUCH SWINGLINE LOAN WAS MADE BY THE SWINGLINE
LENDER WITHOUT RECEIPT OF A WRITTEN NOTICE OF BORROWING IN THE FORM SPECIFIED IN
SUBCLAUSE (I) ABOVE OR AFTER ADMINISTRATIVE AGENT HAS DELIVERED A NOTICE OF
DEFAULT OR EVENT OF DEFAULT WHICH HAS NOT BEEN RESCINDED.
(C)
INTEREST RATE. EACH SWINGLINE LOAN SHALL BEAR INTEREST ON THE
OUTSTANDING PRINCIPAL AMOUNT THEREOF, FOR EACH DAY FROM THE DATE SUCH SWINGLINE
LOAN IS MADE UNTIL THE DATE
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IT IS REPAID, AT A RATE PER ANNUM EQUAL TO THE FEDERAL FUNDS RATE PLUS THE
APPLICABLE MARGIN FOR EURO-CURRENCY LOANS FOR SUCH DAY.
SECTION 2.4.
Money Market Borrowings.
(A)
THE MONEY MARKET OPTION. FROM TIME TO TIME DURING THE TERM, AND
PROVIDED THAT AT SUCH TIME THE BORROWER MAINTAINS AN INVESTMENT GRADE RATING,
THE BORROWER MAY, AS SET FORTH IN THIS SECTION 2.4, REQUEST THE BANKS DURING THE
TERM TO MAKE OFFERS TO MAKE MONEY MARKET LOANS TO THE BORROWER, NOT TO EXCEED,
AT SUCH TIME, THE LESSER OF (I) 50% OF THE AGGREGATE COMMITMENTS, AND (II) THE
AGGREGATE COMMITMENTS LESS ALL LOANS AND LETTER OF CREDIT USAGE THEN OUTSTANDING
(EXCLUDING ANY LOANS OR ANY PORTION THEREOF TO BE REPAID FROM THE PROCEEDS OF
SUCH MONEY MARKET LOANS).
SUBJECT TO THE PROVISIONS OF THIS AGREEMENT, THE
BORROWER MAY REPAY ANY OUTSTANDING MONEY MARKET LOAN ON ANY DAY WHICH IS A
BUSINESS DAY (OR A EURO-CURRENCY BUSINESS DAY IN THE CASE OF MONEY MARKET IBOR
LOANS) AND ANY AMOUNTS SO REPAID MAY BE REBORROWED, UP TO THE AMOUNT AVAILABLE
UNDER THIS SECTION 2.4 AT THE TIME OF SUCH BORROWING, UNTIL THE EURO-CURRENCY
BUSINESS DAY NEXT PRECEDING THE MATURITY DATE.
THE BANKS MAY, BUT SHALL HAVE NO
OBLIGATION TO, MAKE SUCH OFFERS AND THE BORROWER MAY, BUT SHALL HAVE NO
OBLIGATION TO, ACCEPT ANY SUCH OFFERS IN THE MANNER SET FORTH IN THIS SECTION
2.4.
(B)
MONEY MARKET QUOTE REQUEST. WHEN THE BORROWER WISHES TO REQUEST
OFFERS TO MAKE MONEY MARKET LOANS UNDER THIS SECTION,