DATE
WHEN MADE OR REFINANCED PURSUANT TO A REVOLVING LOAN.
1.1.45
"L/C CREDIT EXTENSION" MEANS, WITH RESPECT TO ANY LETTER OF CREDIT,
THE ISSUANCE THEREOF OR EXTENSION OF THE EXPIRY DATE THEREOF, OR THE RENEWAL OR
INCREASE OF THE AMOUNT THEREOF.
1.1.46
"L/C OBLIGATIONS" MEANS, AS OF ANY DATE OF DETERMINATION, WITH
RESPECT TO THE REVOLVING LOANS, THE DRAWING AMOUNT OF ALL OUTSTANDING LETTERS OF
CREDIT PLUS THE AGGREGATE OF ALL UNREIMBURSED AMOUNTS IN CONNECTION THEREWITH,
INCLUDING THE UNREIMBURSED AMOUNTS.
1.1.47
"LETTER(S) OF CREDIT" SHALL HAVE THE MEANING SET FORTH IN
SECTION 2.10.1 HEREOF.
1.1.48
"LETTER OF CREDIT APPLICATION" MEANS AN APPLICATION AND AGREEMENT
FOR THE ISSUANCE OR AMENDMENT OF A LETTER OF CREDIT IN THE FORM FROM TIME TO
TIME IN USE BY THE ISSUING BANK.
7
1.1.49
"LETTER OF CREDIT EXPIRATION DATE" MEANS, WITH RESPECT TO EACH
LETTER OF CREDIT, THE DAY THAT IS FIVE (5) DAYS PRIOR TO THE REVOLVING CREDIT
MATURITY DATE (OR, IF SUCH DAY IS NOT A BUSINESS DAY, THE NEXT PRECEDING
BUSINESS DAY).
1.1.50
"LETTER OF CREDIT SUBLIMIT" MEANS, WITH RESPECT TO THE REVOLVING
LOAN, AN AMOUNT NOT TO EXCEED $10,000,000.00.
THE LETTER OF CREDIT SUBLIMIT IS
PART OF, AND NOT IN ADDITION TO, THE REVOLVING CREDIT COMMITMENT.
1.1.51
"LIBOR ADVANTAGE LOAN" MEANS ANY LOAN BEARING INTEREST AT A RATE
DETERMINED WITH REFERENCE TO THE LIBOR ADVANTAGE RATE.
1.1.52
"LIBOR ADVANTAGE RATE" MEANS, RELATIVE TO ANY INTEREST PERIOD FOR A
LIBOR ADVANTAGE LOAN, THE OFFERED RATE FOR DELIVERY IN TWO LONDON BANKING DAYS
OF DEPOSITS OF DOLLARS FOR A TERM COEXTENSIVE WITH THE DESIGNATED INTEREST
PERIOD WHICH THE BRITISH BANKERS' ASSOCIATION FIXES AS ITS LIBOR RATE AS OF
11:00 A.M. LONDON TIME ON THE DAY ON WHICH SUCH INTEREST PERIOD COMMENCES.
IF
THE FIRST DAY OF ANY INTEREST PERIOD IS NOT A DAY WHICH IS BOTH A (I) BUSINESS
DAY, AND (II) A LONDON BANKING DAY, THE LIBOR ADVANTAGE RATE SHALL BE DETERMINED
BY REFERENCE TO THE NEXT PRECEDING DAY WHICH IS BOTH A BUSINESS DAY AND A LONDON
BANKING DAY.
IF FOR ANY REASON THE LIBOR ADVANTAGE RATE IS UNAVAILABLE AND/OR
THE BANK IS UNABLE TO DETERMINE THE LIBOR ADVANTAGE RATE FOR ANY INTEREST
PERIOD, THE AGENT MAY, AT ITS DISCRETION, EITHER: (A) SELECT A REPLACEMENT INDEX
BASED ON THE ARITHMETIC MEAN OF THE QUOTATIONS, IF ANY, OF THE INTERBANK OFFERED
RATE BY FIRST CLASS BANKS IN LONDON OR NEW YORK WITH COMPARABLE MATURITIES OR
(B) ACCRUE INTEREST AT A RATE EQUAL TO THE AGENT'S PRIME RATE AS OF THE FIRST
DAY OF ANY INTEREST PERIOD FOR WHICH THE LIBOR ADVANTAGE RATE IS UNAVAILABLE OR
CANNOT BE DETERMINED.
1.1.53
"LIBOR ADVANTAGE RATE AMOUNT" MEANS, IN RELATION TO ANY INTEREST
PERIOD FOR A LIBOR ADVANTAGE LOAN, ANY PORTIONS OF THE PRINCIPAL AMOUNT OF SUCH
LOANS ON WHICH THE BORROWERS ELECT PURSUANT TO SECTION 2.5.4(I) HEREOF TO PAY
INTEREST AT A RATE DETERMINED BY REFERENCE TO THE LIBOR ADVANTAGE RATE.
1.1.54
"LIBOR BREAKAGE FEE" SHALL HAVE THE MEANING SET FORTH IN
SECTION 2.5.6