FOUR QUOTATIONS ARE RECEIVED, IFC MAY RELY ON
THE QUOTATIONS SO RECEIVED IF NOT LESS THAN TWO (2); OR
(II)
IF LESS THAN TWO (2) QUOTATIONS ARE
RECEIVED FROM THE BANKS IN LONDON IN ACCORDANCE WITH SUBSECTION (I) ABOVE, ON
THE FIRST DAY OF THE RELEVANT INTEREST PERIOD, BY CALCULATING THE ARITHMETIC
MEAN (ROUNDED UPWARD TO THE NEAREST THREE DECIMAL PLACES) OF THE OFFERED RATES
ADVISED TO IFC ON OR AROUND 11:00 A.M., NEW YORK TIME, FOR LOANS IN THE LOAN
CURRENCY AND OTHERWISE IN ACCORDANCE WITH SECTION 2.03 (C) (II), BY A MAJOR BANK
OR BANKS IN NEW YORK, NEW YORK SELECTED BY IFC.
(E)
ON EACH INTEREST DETERMINATION DATE FOR ANY INTEREST PERIOD, IFC
SHALL DETERMINE THE INTEREST RATE APPLICABLE TO THAT INTEREST PERIOD AND
PROMPTLY NOTIFY THE BORROWER OF THOSE RATES.
(F)
THE DETERMINATION BY IFC, FROM TIME TO TIME, OF THE APPLICABLE
INTEREST RATE SHALL BE FINAL AND CONCLUSIVE AND BIND THE BORROWER (UNLESS THE
DETERMINATION INVOLVES MANIFEST ERROR).
SECTION 2.04.
CHANGE IN INTEREST PERIOD.
WITHOUT PREJUDICE TO THE PROVISIONS
OF SECTION 2.05 (DEFAULT RATE INTEREST), IF AT ANY TIME THE BORROWER FAILS TO
PAY ANY AMOUNT OF PRINCIPAL OF, OR INTEREST ON, THE C LOAN WHEN DUE (WHETHER AT
STATED MATURITY OR UPON ACCELERATION), AND ANY PART OF THAT AMOUNT REMAINS
UNPAID ON THE THIRD BUSINESS DAY IMMEDIATELY PRECEDING ANY INTEREST PAYMENT DATE
FALLING AFTER THAT AMOUNT BECAME DUE, THEN:
15
(A)
IFC MAY ELECT THAT THE DURATION OF THE INTEREST PERIOD COMMENCING
ON THAT INTEREST PAYMENT DATE AND, SUBJECT TO SECTION 2.04 (C), ANY SUBSEQUENT
INTEREST PERIOD SHALL BE EITHER THREE (3) MONTHS OR ONE (1) MONTH AND SHALL
NOTIFY THE BORROWER OF THAT ELECTION IN THE NOTICE REFERRED TO IN SECTION 2.03
(E) (INTEREST);
(B)
THE INTEREST RATES APPLICABLE TO ANY INTEREST PERIOD WHICH IS
THREE (3) MONTHS OR ONE (1) MONTH SHALL BE DETERMINED IN ACCORDANCE WITH SECTION
2.03 (INTEREST) IN ALL RESPECTS, EXCEPT THAT ANY REFERENCE IN SECTION 2.03 (C)
(II) TO SIX (6) MONTHS SHALL BE DEEMED TO BE A REFERENCE TO THREE (3) MONTHS OR,
AS THE CASE MAY BE, ONE (1) MONTH; AND
(C)
UNLESS AN EVENT OF DEFAULT OR POTENTIAL EVENT OF DEFAULT HAS
OCCURRED AND IS CONTINUING, IFC SHALL REINSTATE INTEREST PERIODS OF SIX (6)
MONTHS AS OF THE FIRST INTEREST PAYMENT DATE WHICH IS MAY 15 OR NOVEMBER 15
FALLING AT LEAST THREE (3) BUSINESS DAYS AFTER THE PAYMENT DEFAULT IS REMEDIED
IN FULL AND SHALL INFORM THE BORROWER OF THAT REINSTATEMENT IN THE NOTICE
REFERRED TO IN SECTION 2.03 (E) (INTEREST).
SECTION 2.05.
DEFAULT RATE INTEREST.
(A) WITHOUT LIMITING THE REMEDIES
AVAILABLE TO IFC UNDER THIS AGREEMENT OR OTHERWISE (AND TO THE MAXIMUM EXTENT
PERMITTED BY APPLICABLE LAW), IF THE BORROWER FAILS TO MAKE ANY PAYMENT OF
PRINCIPAL, INTEREST (INCLUDING INTEREST PAYABLE PURSUANT TO THIS SECTION) OR ANY
OTHER PAYMENT PROVIDED FOR IN SECTION 2.08 (FEES) WHEN DUE AS SPECIFIED IN THIS
AGREEMENT (WHETHER AT STATED MATURITY OR UPON ACCELERATION), THE BORROWER SHALL