APPLICABLE TERM LOANS OR REVOLVING CREDIT LOANS, AND IF NO TIMELY NOTICE OF
A CONVERSION OR CONTINUATION IS PROVIDED BY THE BORROWER, THE ADMINISTRATIVE
AGENT SHALL NOTIFY EACH LENDER OF THE DETAILS OF ANY AUTOMATIC CONVERSION TO
BASE RATE LOANS DESCRIBED IN SECTION 2.02(A).
IN THE CASE OF A TERM LOAN
BORROWING OR A REVOLVING CREDIT BORROWING, EACH APPROPRIATE LENDER SHALL MAKE
THE AMOUNT OF ITS LOAN AVAILABLE TO THE ADMINISTRATIVE AGENT IN IMMEDIATELY
AVAILABLE FUNDS AT THE ADMINISTRATIVE AGENT'S OFFICE NOT LATER THAN 1:00 P.M. ON
THE BUSINESS DAY SPECIFIED IN THE APPLICABLE COMMITTED LOAN NOTICE.
UPON
SATISFACTION OF THE APPLICABLE CONDITIONS SET FORTH IN SECTION 4.02 (AND, IF
SUCH BORROWING IS THE INITIAL CREDIT EXTENSION, SECTION 4.01), THE
ADMINISTRATIVE AGENT SHALL MAKE ALL FUNDS SO RECEIVED AVAILABLE TO THE BORROWER
IN LIKE FUNDS AS RECEIVED BY THE ADMINISTRATIVE AGENT EITHER BY (I) CREDITING
THE ACCOUNT OF THE BORROWER ON THE BOOKS OF BANK OF AMERICA WITH THE AMOUNT OF
SUCH FUNDS OR (II) WIRE TRANSFER OF SUCH FUNDS, IN EACH CASE IN ACCORDANCE WITH
INSTRUCTIONS PROVIDED TO (AND REASONABLY ACCEPTABLE TO) THE ADMINISTRATIVE AGENT
BY THE BORROWER; PROVIDED, HOWEVER, THAT IF, ON THE DATE THE COMMITTED LOAN
NOTICE
WITH RESPECT TO SUCH BORROWING IS GIVEN BY THE BORROWER, THERE ARE L/C
BORROWINGS OUTSTANDING, THEN THE PROCEEDS OF SUCH BORROWING FIRST SHALL BE
APPLIED TO THE PAYMENT IN FULL OF ANY SUCH L/C BORROWINGS.
(C)
EXCEPT AS OTHERWISE PROVIDED HEREIN, A SCREEN RATE LOAN OR
EURODOLLAR RATE LOAN MAY BE CONTINUED OR CONVERTED, AS APPLICABLE, ONLY ON THE
LAST DAY OF AN INTEREST PERIOD FOR SUCH LOAN UNLESS THE BORROWER PAYS THE AMOUNT
DUE UNDER SECTION 3.05 IN CONNECTION
45
THEREWITH.
DURING THE EXISTENCE OF AN EVENT OF DEFAULT, NO LOANS MAY BE
REQUESTED AS, CONVERTED TO OR CONTINUED AS EURODOLLAR RATE LOANS WITHOUT THE
CONSENT OF THE REQUIRED LENDERS.
(D)
THE ADMINISTRATIVE AGENT SHALL PROMPTLY NOTIFY THE BORROWER AND
THE LENDERS OF THE INTEREST RATE APPLICABLE TO ANY INTEREST PERIOD FOR SCREEN
RATE LOANS OR EURODOLLAR RATE LOANS UPON DETERMINATION OF SUCH INTEREST RATE.
THE DETERMINATION OF THE SCREEN RATE AND THE EURODOLLAR RATE BY THE
ADMINISTRATIVE AGENT SHALL BE CONCLUSIVE IN THE ABSENCE OF MANIFEST ERROR.
AT
ANY TIME THAT BASE RATE LOANS ARE OUTSTANDING, THE ADMINISTRATIVE AGENT SHALL
NOTIFY THE BORROWER AND THE LENDERS OF ANY CHANGE IN BANK OF AMERICA'S PRIME
RATE USED IN DETERMINING THE BASE RATE PROMPTLY FOLLOWING THE PUBLIC
ANNOUNCEMENT OF SUCH CHANGE.
(E)
AFTER GIVING EFFECT TO ALL TERM BORROWINGS, ALL REVOLVING CREDIT
BORROWINGS, ALL CONVERSIONS OF TERM LOANS OR REVOLVING CREDIT LOANS FROM ONE
TYPE TO THE OTHER, AND ALL CONTINUATIONS OF TERM LOANS OR REVOLVING CREDIT LOANS
AS THE SAME TYPE, THERE SHALL NOT BE MORE THAN FIFTEEN INTEREST PERIODS IN
EFFECT.
(F)
THE FAILURE OF ANY LENDER TO MAKE THE LOAN TO BE MADE BY IT AS
PART OF ANY BORROWING SHALL NOT RELIEVE ANY OTHER LENDER OF ITS OBLIGATION, IF
ANY, HEREUNDER TO MAKE ITS LOAN