OF THE ACCURACY OF THE INFORMATION SO RECORDED.
THE FAILURE OF A
MANAGING AGENT TO MAKE ANY SUCH NOTATION ON THE SCHEDULE ATTACHED TO THE
APPLICABLE NOTE SHALL NOT LIMIT OR OTHERWISE AFFECT THE OBLIGATION OF THE
BORROWER TO REPAY THE ADVANCES IN ACCORDANCE WITH THEIR RESPECTIVE TERMS AS SET
FORTH HEREIN.
SECTION 2.6
INTEREST PAYMENTS.
(A)
INTEREST SHALL ACCRUE ON EACH ADVANCE DURING EACH SETTLEMENT
PERIOD AT THE APPLICABLE INTEREST RATE.
THE BORROWER SHALL PAY INTEREST ON THE
UNPAID PRINCIPAL AMOUNT OF EACH ADVANCE FOR THE PERIOD COMMENCING ON AND
INCLUDING THE FUNDING DATE OF SUCH ADVANCE UNTIL BUT EXCLUDING THE DATE THAT
SUCH ADVANCE SHALL BE PAID IN FULL.
INTEREST SHALL ACCRUE DURING EACH
SETTLEMENT PERIOD AND BE PAYABLE ON THE ADVANCES OUTSTANDING ON EACH PAYMENT
DATE, UNLESS EARLIER PAID PURSUANT TO (I) A PREPAYMENT IN ACCORDANCE WITH
SECTION 2.3(B) OR (II) A REPAYMENT IN ACCORDANCE WITH SECTION 2.4(B).
(B)
EACH MANAGING AGENT OTHER THAN BB&T SHALL DETERMINE (IN ACCORDANCE
WITH INFORMATION PROVIDED BY THE RELEVANT CP LENDER AND/OR COMMITTED LENDERS IN
THE RELATED LENDER
40
GROUP, AS APPLICABLE) ITS ESTIMATE OF THE INTEREST (INCLUDING UNPAID INTEREST,
IF ANY DUE AND PAYABLE ON A PRIOR PAYMENT DATE) TO BE PAID TO THE LENDERS IN THE
APPLICABLE LENDER GROUP ON EACH PAYMENT DATE FOR THE RELATED SETTLEMENT PERIOD
AND SHALL ADVISE THE ADMINISTRATIVE AGENT AND THE SERVICER, ON BEHALF OF THE
BORROWER, THEREOF THREE (3) BUSINESS DAYS PRIOR TO EACH PAYMENT DATE.
UPON
RECEIPT OF SUCH INFORMATION, THE SERVICER SHALL PROMPTLY NOTIFY BB&T WHETHER ANY
CP LENDER SHALL BE EARNING A CP RATE IN RESPECT OF ITS PORTION OF ADVANCES AND
(I) IF A CP LENDER IS EARNING A CP RATE IN RESPECT OF ITS PORTION OF ADVANCES,
WHAT THE CP RATE IMPUTED TO THE PORTIONS OF ADVANCES MADE BY THE COMMITTED
LENDER MEMBER OF THE LENDER GROUP FOR WHICH BB&T ACTS AS MANAGING AGENT SHALL BE
(CALCULATED IN ACCORDANCE WITH CLAUSE (B) OF THE DEFINITION OF INTEREST RATE)
AND (II) IF NO CP LENDER IS EARNING A CP RATE IN RESPECT OF ITS PORTION OF
ADVANCES, WHAT THE ALTERNATIVE RATE IS FOR SUCH SETTLEMENT PERIOD.
IN THE EVENT
THAT ANY MANAGING AGENT'S, CP LENDER'S OR COMMITTED LENDER'S, AS APPLICABLE,
ESTIMATE OF THE INTEREST PAYABLE FOR A RELATED SETTLEMENT PERIOD IS DIFFERENT
FROM THE ACTUAL AMOUNT OF INTEREST FOR SUCH SETTLEMENT PERIOD, THE MANAGING
AGENT SHALL INCREASE OR DECREASE ITS ESTIMATE OF INTEREST FOR THE NEXT
SUCCEEDING SETTLEMENT PERIOD BY THE AMOUNT OF SUCH DIFFERENCE, PLUS INTEREST
THEREON, IF APPLICABLE.
FAILURE TO SET ASIDE ANY AMOUNT SO ACCRUED SHALL NOT
RELIEVE THE BORROWER OR THE SERVICER ON BEHALF OF THE BORROWER OF ITS OBLIGATION
TO REMIT OR CAUSE THE SERVICER TO REMIT COLLECTIONS TO THE ADMINISTRATIVE AGENT
WITH RESPECT TO SUCH ACCRUED AMOUNT AS AND TO THE EXTENT PROVIDED IN
SECTION 2.8.
(C)
IF ANY MANAGING AGENT, ON BEHALF OF THE APPLICABLE LENDERS, SHALL
NOTIFY THE ADMINISTRATIVE AGENT THAT A EURODOLLAR DISRUPTION EVENT AS DESCRIBED
IN CLAUSE (A)