PRINCIPAL
AMOUNT OF THE LOANS HEREUNDER, TOGETHER WITH ALL INTEREST ACCRUING THEREON.
SECTION 4
INTEREST.
4.1
INTEREST RATES.
THE COMPANY PROMISES TO PAY
INTEREST ON THE UNPAID PRINCIPAL AMOUNT OF EACH LOAN FOR THE PERIOD COMMENCING
ON THE DATE OF SUCH LOAN UNTIL SUCH LOAN IS PAID IN FULL AS FOLLOWS:
(A)
AT ALL TIMES WHILE SUCH LOAN IS A BASE RATE
LOAN, AT A RATE PER ANNUM EQUAL TO THE SUM OF THE BASE RATE FROM TIME TO TIME IN
EFFECT; AND
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(B)
AT ALL TIMES WHILE SUCH LOAN IS A
EUROCURRENCY RATE LOAN, AT A RATE PER ANNUM EQUAL TO THE SUM OF THE EUROCURRENCY
RATE APPLICABLE TO EACH INTEREST PERIOD FOR SUCH LOAN PLUS THE EUROCURRENCY RATE
MARGIN FROM TIME TO TIME IN EFFECT;
provided that at any time an Event of Default exists, unless the Required
Lenders otherwise consent, the interest rate applicable to each Loan shall be
increased by 2% (and, at any time that an Event of Default under Section 13.1.1
has occurred and is continuing, in the case of Obligations arising under this
Agreement not bearing interest, such Obligations shall bear interest at the Base
Rate applicable to Revolving Loans plus 2%), provided further that such increase
may thereafter be rescinded by the Required Lenders, notwithstanding Section
15.1.
Notwithstanding the foregoing, upon the occurrence of an Event of Default
under Section 13.1.1 or 13.1.4, such increase shall occur automatically.
4.2
INTEREST PAYMENT DATES.
ACCRUED INTEREST ON
EACH BASE RATE LOAN SHALL BE PAYABLE IN ARREARS ON THE LAST DAY OF EACH CALENDAR
MONTH AND AT MATURITY.
ACCRUED INTEREST ON EACH EUROCURRENCY RATE LOAN SHALL BE
PAYABLE ON THE LAST DAY OF EACH INTEREST PERIOD RELATING TO SUCH LOAN (AND, IN
THE CASE OF A EUROCURRENCY RATE LOAN WITH AN INTEREST PERIOD IN EXCESS OF THREE
MONTHS, ON THE THREE-MONTH ANNIVERSARY OF THE FIRST DAY OF SUCH INTEREST
PERIOD), UPON A PREPAYMENT OF SUCH LOAN, AND AT MATURITY.
AFTER MATURITY, AND
AT ANY TIME AN EVENT OF DEFAULT EXISTS, ACCRUED INTEREST ON ALL LOANS SHALL BE
PAYABLE ON DEMAND.
4.3
SETTING AND NOTICE OF EUROCURRENCY RATES.
THE APPLICABLE EUROCURRENCY RATE FOR EACH INTEREST PERIOD SHALL BE DETERMINED BY
THE ADMINISTRATIVE AGENT, AND NOTICE THEREOF SHALL BE GIVEN BY THE
ADMINISTRATIVE AGENT PROMPTLY TO THE COMPANY AND EACH LENDER.
EACH
DETERMINATION OF THE APPLICABLE EUROCURRENCY RATE BY THE ADMINISTRATIVE AGENT
SHALL BE CONCLUSIVE AND BINDING UPON THE PARTIES HERETO, IN THE ABSENCE OF
DEMONSTRABLE ERROR.
THE ADMINISTRATIVE AGENT SHALL, UPON WRITTEN REQUEST OF THE
COMPANY OR ANY LENDER, DELIVER TO THE COMPANY OR SUCH LENDER A STATEMENT SHOWING
THE COMPUTATIONS USED BY THE ADMINISTRATIVE AGENT IN DETERMINING ANY APPLICABLE
EUROCURRENCY RATE HEREUNDER.
4.4
COMPUTATION OF INTEREST.
INTEREST SHALL BE
COMPUTED FOR THE ACTUAL NUMBER OF DAYS ELAPSED ON THE BASIS OF A YEAR OF (A) 360
DAYS FOR INTEREST CALCULATED AT THE EUROCURRENCY RATE AND (B) 365/366 DAYS FOR
INTEREST CALCULATED AT THE BASE RATE AND FOR EUROCURRENCY RATE LOANS DENOMINATED
IN STERLING