BASED ON (OR RESULT IN) A
CALCULATION THAT IS LESS THAN ZERO, SUCH CALCULATION SHALL BE DEEMED ZERO FOR
PURPOSES OF THIS AGREEMENT.
SECTION 2.10
INTEREST.
(A)
THE LOANS COMPRISING EACH ABR BORROWING SHALL BEAR INTEREST
AT THE ALTERNATE BASE RATE PLUS THE APPLICABLE RATE.
(B)
THE LOANS COMPRISING EACH EURODOLLAR BORROWING SHALL BEAR
INTEREST AT THE EURODOLLAR RATE FOR THE INTEREST PERIOD IN EFFECT FOR SUCH
BORROWING PLUS THE APPLICABLE RATE.
(C)
UPON THE ELECTION OF THE ADMINISTRATIVE AGENT OR THE
INSTRUCTION OF THE REQUIRED LENDERS, WHILE ANY EVENT OF DEFAULT EXISTS, ALL
OUTSTANDING OBLIGATIONS SHALL BEAR INTEREST, AFTER AS WELL AS BEFORE JUDGMENT,
AT A RATE PER ANNUM EQUAL TO (I) IN THE CASE OF ANY OBLIGATION FOR WHICH A RATE
IS SPECIFIED IN THIS AGREEMENT, 2% PLUS THE RATE OTHERWISE APPLICABLE TO SUCH
OBLIGATION AS PROVIDED HEREIN OR (II) IN THE CASE OF ANY OTHER AMOUNT, 2% PLUS
THE RATE APPLICABLE TO ABR LOANS AS PROVIDED IN PARAGRAPH (A) OF THIS SECTION.
(D)
ACCRUED INTEREST ON EACH LOAN SHALL BE PAYABLE IN ARREARS ON
EACH INTEREST PAYMENT DATE; PROVIDED THAT (I) INTEREST ACCRUED PURSUANT TO
PARAGRAPH (C) OF THIS SECTION SHALL BE PAYABLE ON
SUPERPRIORITY SECURED DEBTOR-IN-POSSESSION CREDIT AGREEMENT
LSC COMMUNICATIONS, INC.
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DEMAND, (II) IN THE EVENT OF ANY REPAYMENT OR PREPAYMENT OF ANY LOAN, ACCRUED
INTEREST ON THE PRINCIPAL AMOUNT REPAID OR PREPAID SHALL BE PAYABLE ON THE DATE
OF SUCH REPAYMENT OR PREPAYMENT, (III) IN THE EVENT OF ANY CONVERSION OF ANY
EURODOLLAR LOAN PRIOR TO THE END OF THE CURRENT INTEREST PERIOD THEREFOR,
ACCRUED INTEREST ON SUCH LOAN SHALL BE PAYABLE ON THE EFFECTIVE DATE OF SUCH
CONVERSION AND (IV) INTEREST ACCRUING AFTER THE LAST DAY OF THE REVOLVING
COMMITMENT PERIOD SHALL BE PAYABLE ON DEMAND.
(E)
ALL INTEREST HEREUNDER SHALL BE COMPUTED ON THE BASIS OF A
YEAR OF 360 DAYS, EXCEPT THAT INTEREST COMPUTED BY REFERENCE TO THE ALTERNATE
BASE RATE WHEN THE ALTERNATE BASE RATE IS CALCULATED BY REFERENCE TO THE PRIME
RATE SHALL BE COMPUTED ON THE BASIS OF A YEAR OF 365 DAYS (OR 366 DAYS IN A LEAP
YEAR).
THE APPLICABLE ALTERNATE BASE RATE OR EURODOLLAR RATE SHALL BE
DETERMINED BY THE ADMINISTRATIVE AGENT, AND SUCH DETERMINATION SHALL BE
CONCLUSIVE ABSENT MANIFEST ERROR.
TO THE EXTENT THAT ANY CALCULATION OF
INTEREST REQUIRED TO BE PAID UNDER THIS AGREEMENT SHALL BE BASED ON (OR RESULT
IN) A CALCULATION THAT IS LESS THAN 1.00%, SUCH CALCULATION SHALL BE DEEMED
1.00% FOR PURPOSES OF THIS AGREEMENT.
SECTION 2.11
ALTERNATE RATE OF INTEREST.
(A)
IF PRIOR TO THE COMMENCEMENT OF ANY INTEREST PERIOD FOR A
EURODOLLAR BORROWING:
(I)
THE ADMINISTRATIVE AGENT DETERMINES (WHICH DETERMINATION SHALL
BE CONCLUSIVE AND BINDING ABSENT MANIFEST ERROR) THAT (A) DOLLAR DEPOSITS ARE
NOT BEING OFFERED TO BANKS IN THE LONDON INTERBANK EURODOLLAR MARKET FOR THE
APPLICABLE AMOUNT AND INTEREST PERIOD OF SUCH EURODOLLAR BORROWING, OR (B)
(1) ADEQUATE AND REASONABLE MEANS DO NOT EXIST FOR ASCERTAINING THE EURODOLLAR
RATE FOR A LOAN