AVAILABLE TO THE ADMINISTRATIVE
AGENT ON THE DATE OF SUCH BORROWING IN ACCORDANCE WITH THIS SUBSECTION (C) AND
THE ADMINISTRATIVE AGENT MAY, IN RELIANCE UPON SUCH ASSUMPTION, MAKE AVAILABLE
TO THE BORROWER ON SUCH DATE A CORRESPONDING AMOUNT.
IF AND TO THE EXTENT THAT
SUCH LENDER SHALL NOT HAVE MADE SUCH PORTION AVAILABLE TO THE ADMINISTRATIVE
AGENT, SUCH LENDER AND THE BORROWER (WITHOUT WAIVING ANY CLAIM AGAINST SUCH
LENDER FOR SUCH LENDER'S FAILURE TO MAKE SUCH PORTION AVAILABLE) SEVERALLY AGREE
TO REPAY TO THE ADMINISTRATIVE AGENT FORTHWITH ON DEMAND SUCH CORRESPONDING
AMOUNT TOGETHER WITH INTEREST THEREON, FOR EACH DAY FROM THE DATE SUCH AMOUNT IS
MADE AVAILABLE TO THE BORROWER UNTIL THE DATE SUCH AMOUNT IS REPAID TO THE
ADMINISTRATIVE AGENT AT (I) IN THE CASE OF THE BORROWER, THE INTEREST RATE
APPLICABLE AT THE TIME TO THE ADVANCES COMPRISING SUCH BORROWING AND (II) IN THE
CASE OF SUCH LENDER, THE FEDERAL FUNDS EFFECTIVE RATE; PROVIDED, HOWEVER, THAT
SHOULD BOTH THE BORROWER AND SUCH LENDER REPAY THE ADMINISTRATIVE AGENT IN
ACCORDANCE WITH THIS SENTENCE, THE ADMINISTRATIVE AGENT WILL FORTHWITH RETURN
THE AMOUNT IN EXCESS OF THE PORTION DUE TO IT UNDER THIS SENTENCE TO THE
BORROWER.
IF SUCH LENDER SHALL REPAY TO THE ADMINISTRATIVE AGENT SUCH
CORRESPONDING AMOUNT, SUCH AMOUNT SHALL CONSTITUTE SUCH LENDER'S ADVANCE AS PART
OF SUCH BORROWING FOR PURPOSES OF THIS AGREEMENT.
SECTION 2.03.
BORROWING AND CONVERSION PROCEDURES.
(A)
IN ORDER TO REQUEST A BORROWING, THE BORROWER SHALL HAND DELIVER
OR TELECOPY TO THE ADMINISTRATIVE AGENT A DULY COMPLETED BORROWING REQUEST
(A) IN THE CASE OF A EURODOLLAR BORROWING, NOT LATER THAN 10:00 A.M. THREE
BUSINESS DAYS BEFORE SUCH BORROWING, AND (B) IN THE CASE OF A BASE RATE
BORROWING, NOT LATER THAN 10:00 A.M. ON THE BUSINESS DAY OF SUCH BORROWING.
SUCH NOTICE SHALL BE IRREVOCABLE AND SHALL IN EACH CASE SPECIFY (I) WHETHER THE
BORROWING THEN BEING REQUESTED IS TO COMPRISE EURODOLLAR ADVANCES OR BASE RATE
ADVANCES; (II) THE DATE OF SUCH BORROWING (WHICH SHALL BE A BUSINESS DAY) AND
THE AMOUNT THEREOF; AND (III) IF SUCH BORROWING IS TO BE A EURODOLLAR BORROWING,
THE INTEREST PERIOD WITH RESPECT THERETO, WHICH SHALL NOT END AFTER THE
TERMINATION DATE.
IF NO ELECTION AS TO THE TYPE OF BORROWING IS SPECIFIED IN
ANY SUCH NOTICE, THEN THE REQUESTED BORROWING SHALL BE A BASE RATE BORROWING.
IF NO INTEREST PERIOD WITH RESPECT TO ANY EURODOLLAR BORROWING IS SPECIFIED IN
ANY SUCH NOTICE, THEN THE BORROWER SHALL BE DEEMED TO HAVE SELECTED AN INTEREST
PERIOD OF ONE MONTH'S DURATION.
(B)
THE BORROWER MAY ON ANY BUSINESS DAY, BY DELIVERING A NOTICE OF
CONVERSION (A "NOTICE OF CONVERSION") TO THE ADMINISTRATIVE AGENT NOT LATER THAN
10:00 A.M. ON THE THIRD
18
BUSINESS DAY PRIOR TO THE DATE OF THE PROPOSED CONVERSION, AND SUBJECT TO THE
PROVISIONS OF SECTIONS 2.08 AND 2.12, CONVERT ANY BORROWING OF ONE TYPE OR FOR
ONE INTEREST PERIOD INTO A BORROWING OF ANOTHER TYPE OR FOR ANOTHER INTEREST
PERIOD; PROVIDED, HOWEVER, THAT ANY CONVERSION OF