OR THE APPLICABLE
ISSUING BANK, AS APPLICABLE.
IF AND TO THE EXTENT THAT THE BORROWER SHALL NOT
HAVE SO MADE SUCH
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PAYMENT, EACH BANK AND EACH ISSUING BANK SHALL REPAY TO THE ADMINISTRATIVE AGENT
FORTHWITH ON DEMAND SUCH AMOUNT DISTRIBUTED TO IT TOGETHER WITH INTEREST
THEREON, FOR EACH DAY FROM THE DATE SUCH AMOUNT IS DISTRIBUTED UNTIL THE DATE
SUCH BANK OR ISSUING BANK, AS APPLICABLE, REPAYS SUCH AMOUNT TO THE
ADMINISTRATIVE AGENT, AT THE FEDERAL FUNDS RATE.
SECTION 2.14.
FUNDING LOSSES.
IF THE BORROWER MAKES ANY PAYMENT OF PRINCIPAL
WITH RESPECT TO ANY FIXED RATE LOAN OR ANY FIXED RATE LOAN IS CONVERTED TO A
DIFFERENT TYPE OF LOAN (WHETHER SUCH PAYMENT OR CONVERSION IS PURSUANT TO
ARTICLE 2, 6 OR 8 OR OTHERWISE) ON ANY DAY OTHER THAN THE LAST DAY OF AN
INTEREST PERIOD APPLICABLE THERETO, OR THE LAST DAY OF AN APPLICABLE PERIOD
FIXED PURSUANT TO SECTION 2.08(D), OR IF THE BORROWER FAILS TO BORROW, PREPAY,
CONVERT OR CONTINUE ANY FIXED RATE LOAN AFTER NOTICE HAS BEEN GIVEN TO ANY BANK
IN ACCORDANCE WITH SECTION 2.04(A), 2.12(C) OR 2.16(C), THE BORROWER SHALL
REIMBURSE EACH BANK WITHIN 15 DAYS AFTER DEMAND FOR ANY RESULTING LOSS OR
EXPENSE INCURRED BY IT (OR BY AN EXISTING OR PROSPECTIVE PARTICIPANT IN THE
RELATED LOAN), INCLUDING (WITHOUT LIMITATION) ANY LOSS INCURRED IN OBTAINING,
LIQUIDATING OR EMPLOYING DEPOSITS FROM THIRD PARTIES, BUT EXCLUDING LOSS OF
MARGIN FOR THE PERIOD AFTER SUCH PAYMENT OR CONVERSION OR FAILURE TO BORROW,
PREPAY, CONVERT OR CONTINUE; PROVIDED THAT SUCH BANK SHALL HAVE DELIVERED TO THE
BORROWER A CERTIFICATE AS TO THE AMOUNT OF SUCH LOSS OR EXPENSE, ALONG WITH SUCH
SUPPLEMENTAL INFORMATION AS THE BORROWER MAY REASONABLY REQUEST, WHICH
CERTIFICATE SHALL BE CONCLUSIVE IN THE ABSENCE OF MANIFEST ERROR.
SECTION 2.15.
COMPUTATION OF INTEREST AND FEES.
INTEREST BASED ON THE PRIME
RATE HEREUNDER SHALL BE COMPUTED ON THE BASIS OF A YEAR OF 365 DAYS (OR 366 DAYS
IN A LEAP YEAR) AND PAID FOR THE ACTUAL NUMBER OF DAYS ELAPSED (INCLUDING THE
FIRST DAY BUT EXCLUDING THE LAST DAY).
ALL OTHER INTEREST AND FEES SHALL BE
COMPUTED ON THE BASIS OF A YEAR OF 360 DAYS AND PAID FOR THE ACTUAL NUMBER OF
DAYS ELAPSED (INCLUDING THE FIRST DAY BUT EXCLUDING THE LAST DAY).
SECTION 2.16.
METHOD OF ELECTING INTEREST RATES.
(A) THE LOANS INCLUDED IN
EACH COMMITTED BORROWING SHALL BEAR INTEREST INITIALLY AT THE TYPE OF RATE
SPECIFIED BY THE BORROWER IN THE APPLICABLE NOTICE OF COMMITTED BORROWING.
THEREAFTER, THE BORROWER MAY FROM TIME TO TIME ELECT TO CHANGE OR CONTINUE THE
TYPE OF INTEREST RATE BORNE BY EACH GROUP OF LOANS (SUBJECT TO
SECTION 2.16(D) AND THE PROVISIONS OF ARTICLE 8), AS FOLLOWS:
(I)
IF SUCH LOANS ARE BASE RATE LOANS, THE
BORROWER MAY ELECT TO CONVERT SUCH LOANS TO CD LOANS AS OF ANY DOMESTIC BUSINESS
DAY OR TO EURO-DOLLAR LOANS AS OF ANY EURO-DOLLAR BUSINESS DAY; AND
(II)
IF SUCH LOANS ARE CD LOANS, THE BORROWER
MAY ELECT TO