DAY OF THE
INTEREST PERIOD APPLICABLE THERETO TO (BUT NOT INCLUDING) THE LAST DAY OF SUCH
INTEREST PERIOD AT THE INTEREST RATE DETERMINED AS APPLICABLE TO SUCH EURODOLLAR
RATE ADVANCE.
2.7
MINIMUM AMOUNT OF EACH ADVANCE.
EACH
ADVANCE (OTHER THAN AN ADVANCE TO REPAY A REIMBURSEMENT OBLIGATION) SHALL BE IN
THE MINIMUM AMOUNT OF $250,000 AND IN MULTIPLES OF $100,000 IF IN EXCESS
THEREOF; PROVIDED, HOWEVER, THAT ANY FLOATING RATE ADVANCE MAY BE IN THE AMOUNT
OF THE UNUSED REVOLVING LOAN AVAILABILITY.
2.8
METHOD OF SELECTING TYPES, AND INTEREST
PERIODS FOR CONVERSION AND CONTINUATION OF ADVANCES.
(A)
RIGHT TO CONVERT.
THE BORROWER MAY ELECT FROM
TIME TO TIME. SUBJECT TO THE PROVISIONS OF SECTION 2.3 AND THIS SECTION 2.9, TO
CONVERT ALL OR ANY PART OF A LOAN OF ANY TYPE INTO ANY OTHER TYPE OR TYPES OF
LOAN; PROVIDED THAT ANY CONVERSION OF ANY EURODOLLAR RATE ADVANCE SHALL BE MADE
ON, AND ONLY ON, THE LAST DAY OF THE INTEREST PERIOD APPLICABLE THERETO.
(B)
AUTOMATIC CONVERSION AND CONTINUATION.
FLOATING RATE LOANS SHALL CONTINUE AS FLOATING RATE LOANS UNLESS AND UNTIL SUCH
FLOATING RATE LOANS ARE CONVERTED INTO EURODOLLAR RATE LOANS.
EURODOLLAR RATE
LOANS SHALL CONTINUE AS EURODOLLAR RATE LOANS UNTIL THE END OF THE THEN
APPLICABLE INTEREST PERIOD THEREFOR, AT WHICH TIME SUCH EURODOLLAR RATE LOANS
SHALL BE AUTOMATICALLY CONVERTED INTO FLOATING RATE LOANS UNLESS THE BORROWER
SHALL HAVE GIVEN THE LENDER 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
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CONSENT OF THE LENDER) 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 LENDER)
WHEN ANY UNMATURED DEFAULT HAS OCCURRED AND IS CONTINUING.
(D)
BORROWING/ELECTION NOTICE.
THE BORROWER SHALL
GIVE THE LENDER 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 (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.
2.9
DEFAULT RATE.
AFTER THE OCCURRENCE AND
DURING THE CONTINUANCE OF A DEFAULT, AT THE OPTION OF THE LENDER, THE INTEREST
RATE(S) APPLICABLE TO THE OBLIGATIONS SHALL