REQUESTED DATE OF THE BORROWING, CONVERSION OR CONTINUATION, AS THE CASE MAY BE
(WHICH SHALL BE A BUSINESS DAY), (III) THE PRINCIPAL AMOUNT OF LOANS TO BE
BORROWED, CONVERTED OR CONTINUED, (IV) THE TYPE OF LOANS TO BE BORROWED OR TO
WHICH EXISTING LOANS ARE TO BE CONVERTED AND (V) IF APPLICABLE, THE DURATION OF
THE INTEREST PERIOD WITH RESPECT THERETO.
IF THE BORROWER FAILS TO SPECIFY A
TYPE OF LOAN IN A LOAN NOTICE OR IF THE BORROWER FAILS TO GIVE A TIMELY NOTICE
REQUESTING A CONVERSION OR CONTINUATION, THEN THE APPLICABLE LOANS SHALL BE MADE
AS, OR CONVERTED TO, BASE RATE LOANS.
ANY SUCH AUTOMATIC CONVERSION TO BASE
RATE LOANS SHALL BE EFFECTIVE AS OF THE LAST DAY OF THE INTEREST PERIOD THEN IN
EFFECT WITH RESPECT TO THE APPLICABLE EURODOLLAR RATE LOANS.
IF THE BORROWER
REQUESTS A BORROWING OF, CONVERSION TO, OR CONTINUATION OF EURODOLLAR RATE LOANS
IN ANY SUCH LOAN NOTICE, BUT FAILS TO SPECIFY AN INTEREST PERIOD, IT WILL BE
DEEMED TO HAVE SPECIFIED AN INTEREST PERIOD OF ONE MONTH.
(B)
FOLLOWING RECEIPT OF A LOAN NOTICE, THE AGENT SHALL PROMPTLY
NOTIFY EACH LENDER OF THE AMOUNT OF ITS APPLICABLE PERCENTAGE OF THE REQUESTED
BORROWING, CONVERSION OR CONTINUATION, AND IF NO TIMELY NOTICE OF A CONVERSION
OR CONTINUATION IS PROVIDED BY THE BORROWER, THE AGENT SHALL NOTIFY EACH LENDER
OF THE DETAILS OF ANY AUTOMATIC CONVERSION TO BASE RATE LOANS DESCRIBED IN
SECTION 1.5(A).
IN THE CASE OF A REQUESTED BORROWING, SUBJECT TO THE TERMS OF
SECTION 1.1 AND SECTION 2.2 HEREOF, EACH LENDER SHALL MAKE AN AMOUNT EQUAL TO
ITS APPLICABLE PERCENTAGE OF THE REQUESTED LOAN AVAILABLE TO THE AGENT IN
IMMEDIATELY AVAILABLE FUNDS AT THE AGENT'S OFFICE NOT LATER THAN 12:00 NOON
CENTRAL TIME ON THE BUSINESS DAY SPECIFIED IN THE APPLICABLE LOAN NOTICE.
(C)
EXCEPT AS OTHERWISE PROVIDED HEREIN, A EURODOLLAR RATE LOAN
MAY BE CONTINUED OR CONVERTED ONLY ON THE LAST DAY OF AN INTEREST PERIOD FOR
SUCH EURODOLLAR RATE LOAN.
DURING THE EXISTENCE OF A DEFAULT, NO LOANS MAY BE
REQUESTED AS, CONVERTED TO OR CONTINUED AS EURODOLLAR RATE LOANS WITHOUT THE
CONSENT OF THE REQUIRED LENDERS AND THE REQUIRED LENDERS MAY DEMAND THAT ANY OR
ALL OF THE OUTSTANDING EURODOLLAR RATE LOANS BE CONVERTED IMMEDIATELY TO BASE
RATE LOANS.
(D)
THE AGENT SHALL PROMPTLY NOTIFY THE BORROWER AND THE LENDERS
OF THE INTEREST RATE APPLICABLE TO ANY INTEREST PERIOD FOR EURODOLLAR RATE LOANS
UPON DETERMINATION OF SUCH INTEREST RATE.
AT ANY TIME THAT BASE RATE LOANS ARE
OUTSTANDING, THE AGENT SHALL NOTIFY THE BORROWER AND THE LENDERS OF ANY CHANGE
IN THE AGENT'S PRIME RATE USED IN DETERMINING THE BASE RATE PROMPTLY FOLLOWING
THE PUBLIC ANNOUNCEMENT OF SUCH CHANGE.
(E)
‐3‐
After giving effect to all Borrowings, all conversions of Loans from one Type to
the other, and all continuations of Loans as the same Type, there shall not be
more than six (6) Interest Periods in effect.
(F)
UPON SATISFACTION OF THE APPLICABLE CONDITIONS SET FORTH IN
SECTION