IT AND THE DATE AND AMOUNT
OF EACH PAYMENT OF PRINCIPAL MADE BY THE BORROWERS WITH RESPECT THERETO, AND
MAY, IF SUCH LENDER SO ELECTS IN CONNECTION WITH ANY TRANSFER OR ENFORCEMENT OF
ANY NOTE, ENDORSE ON THE REVERSE SIDE OR ON THE SCHEDULE, IF ANY, FORMING A PART
THEREOF APPROPRIATE NOTATIONS TO EVIDENCE THE FOREGOING INFORMATION WITH RESPECT
TO EACH OUTSTANDING LOAN EVIDENCED THEREBY; PROVIDED THAT THE FAILURE OF ANY
LENDER TO MAKE ANY SUCH RECORDATION OR ENDORSEMENT
39
SHALL NOT AFFECT THE OBLIGATIONS OF THE BORROWERS HEREUNDER OR UNDER ANY SUCH
NOTE.
EACH LENDER IS HEREBY IRREVOCABLY AUTHORIZED BY THE BORROWERS SO TO
ENDORSE EACH OF ITS NOTES AND TO ATTACH TO AND MAKE A PART OF EACH OF ITS NOTES
A CONTINUATION OF ANY SUCH SCHEDULE AS AND WHEN REQUIRED.
SECTION 2.05
INTEREST.
(A)
RATE OPTIONS APPLICABLE TO LOANS.
PRIOR TO THE SYNDICATION DATE,
EACH LOAN SHALL BE A BASE RATE LOAN OR A EURODOLLAR LOAN WITH A ONE-MONTH
INTEREST PERIOD (ENDING ON THE SAME DATE FOR ALL EURODOLLAR LOANS), AS THE
BORROWERS MAY REQUEST PURSUANT TO SECTION 2.02.
ON AND AFTER THE SYNDICATION
DATE, EACH LOAN SHALL BE A BASE RATE LOAN OR A EURODOLLAR LOAN, AS THE BORROWERS
MAY REQUEST PURSUANT TO SECTION 2.06.
LOANS OF MORE THAN ONE TYPE MAY BE
OUTSTANDING AT THE SAME TIME; PROVIDED HOWEVER, THAT THE BORROWERS MAY NOT
REQUEST ANY EXTENSION OR CONVERSION OF EURODOLLAR LOANS WHICH, IF MADE, WOULD
RESULT IN AN AGGREGATE OF MORE THAN SIX SEPARATE GROUPS OF EURODOLLAR LOANS
BEING OUTSTANDING HEREUNDER AT ANY ONE TIME.
FOR THIS PURPOSE, LOANS HAVING
DIFFERENT INTEREST PERIODS, REGARDLESS OF WHETHER COMMENCING ON THE SAME DATE,
SHALL BE CONSIDERED SEPARATE GROUPS.
INTEREST HEREUNDER SHALL BE DUE AND
PAYABLE IN ACCORDANCE WITH THE TERMS HEREOF BEFORE AND AFTER JUDGMENT AND BEFORE
AND AFTER THE COMMENCEMENT OF ANY PROCEEDING UNDER ANY DEBTOR RELIEF LAW.
(B)
BASE RATE LOANS.
EACH LOAN WHICH IS MADE AS, OR CONVERTED INTO, A
BASE RATE LOAN SHALL BEAR INTEREST ON THE OUTSTANDING PRINCIPAL AMOUNT THEREOF,
FOR EACH DAY FROM THE DATE SUCH LOAN IS MADE AS, OR CONVERTED INTO, A BASE RATE
LOAN UNTIL IT BECOMES DUE OR IS CONVERTED INTO A EURODOLLAR LOAN, AT A RATE PER
ANNUM EQUAL TO THE BASE RATE FOR SUCH DAY PLUS THE THEN APPLICABLE MARGIN.
SUCH
INTEREST SHALL BE JOINT AND SEVERAL OBLIGATIONS OF THE BORROWERS PAYABLE IN
ARREARS ON EACH INTEREST PAYMENT DATE AND, WITH RESPECT TO THE PRINCIPAL AMOUNT
OF ANY BASE RATE LOAN CONVERTED TO A EURODOLLAR LOAN, ON THE DATE SUCH BASE RATE
LOAN IS SO CONVERTED.
ANY OVERDUE PRINCIPAL OF OR INTEREST ON ANY BASE RATE
LOAN SHALL BEAR INTEREST, PAYABLE ON DEMAND, FOR EACH DAY UNTIL PAID AT A RATE
PER ANNUM EQUAL TO THE SUM OF 2% PLUS THE BASE RATE FOR SUCH DAY PLUS THE
APPLICABLE MARGIN FOR BASE RATE LOANS FOR SUCH DAY.
(C)
EURODOLLAR LOANS.
EACH EURODOLLAR LOAN SHALL BEAR INTEREST ON THE
OUTSTANDING PRINCIPAL AMOUNT THEREOF, FOR