DOLLARS ($10,000,000) AT ANY TIME AND
(II) ELIGIBLE RECEIVABLES DUE FROM BIOURJA TRADING LLC SHALL NOT EXCEED TWO
MILLION FIVE HUNDRED THOUSAND DOLLARS ($2,500,000) AT ANY TIME.
27
2.2.
PROCEDURE FOR REVOLVING ADVANCES BORROWING.
(A)
BORROWING AGENT ON BEHALF OF ANY BORROWER
MAY NOTIFY AGENT PRIOR TO 10:00 A.M. ON A BUSINESS DAY OF A BORROWER'S REQUEST
TO INCUR, ON THAT DAY, A REVOLVING ADVANCE HEREUNDER.
SHOULD ANY AMOUNT
REQUIRED TO BE PAID AS INTEREST HEREUNDER, OR AS FEES OR OTHER CHARGES UNDER
THIS AGREEMENT OR ANY OTHER AGREEMENT WITH AGENT OR LENDERS, OR WITH RESPECT TO
ANY OTHER OBLIGATION, BECOME DUE, SAME SHALL BE DEEMED A REQUEST FOR A REVOLVING
ADVANCE MAINTAINED AS A DOMESTIC RATE LOAN AS OF THE DATE SUCH PAYMENT IS DUE,
IN THE AMOUNT REQUIRED TO PAY IN FULL SUCH INTEREST, FEE, CHARGE OR OBLIGATION
UNDER THIS AGREEMENT OR ANY OTHER AGREEMENT WITH AGENT OR LENDERS, AND SUCH
REQUEST SHALL BE IRREVOCABLE.
(B)
NOTWITHSTANDING THE PROVISIONS OF SUBSECTION
(A) ABOVE, IN THE EVENT ANY BORROWER DESIRES TO OBTAIN A EURODOLLAR RATE LOAN,
BORROWING AGENT SHALL GIVE AGENT WRITTEN NOTICE BY NO LATER THAN 10:00 A.M. ON
THE DAY WHICH IS THREE (3) BUSINESS DAYS PRIOR TO THE DATE SUCH EURODOLLAR RATE
LOAN IS TO BE BORROWED, SPECIFYING (I) THE DATE OF THE PROPOSED BORROWING (WHICH
SHALL BE A BUSINESS DAY), (II) THE TYPE OF BORROWING AND THE AMOUNT ON THE DATE
OF SUCH ADVANCE TO BE BORROWED, WHICH AMOUNT SHALL BE IN A MINIMUM AMOUNT OF
$500,000 AND IN INTEGRAL MULTIPLES OF $100,000 THEREAFTER, AND (III) THE
DURATION OF THE FIRST INTEREST PERIOD THEREFOR.
INTEREST PERIODS FOR EURODOLLAR
RATE LOANS SHALL BE FOR ONE, TWO OR THREE MONTHS; PROVIDED, IF AN INTEREST
PERIOD WOULD END ON A DAY THAT IS NOT A BUSINESS DAY, IT SHALL END ON THE NEXT
SUCCEEDING BUSINESS DAY UNLESS SUCH DAY FALLS IN THE NEXT SUCCEEDING CALENDAR
MONTH IN WHICH CASE THE INTEREST PERIOD SHALL END ON THE NEXT PRECEDING BUSINESS
DAY.
NO EURODOLLAR RATE LOAN SHALL BE MADE AVAILABLE TO ANY BORROWER DURING THE
CONTINUANCE OF A DEFAULT OR AN EVENT OF DEFAULT.
AFTER GIVING EFFECT TO EACH
REQUESTED EURODOLLAR RATE LOAN, INCLUDING THOSE WHICH ARE CONVERTED FROM A
DOMESTIC RATE LOAN UNDER SECTION 2.2(D), THERE SHALL NOT BE OUTSTANDING MORE
THAN FIVE (5) EURODOLLAR RATE LOANS, IN THE AGGREGATE.
(C)
EACH INTEREST PERIOD OF A EURODOLLAR RATE
LOAN SHALL COMMENCE ON THE DATE SUCH EURODOLLAR RATE LOAN IS MADE AND SHALL END
ON SUCH DATE AS BORROWING AGENT MAY ELECT AS SET FORTH IN SUBSECTION
(B)(III) ABOVE PROVIDED THAT THE EXACT LENGTH OF EACH INTEREST PERIOD SHALL BE
DETERMINED IN ACCORDANCE WITH THE PRACTICE OF THE INTERBANK MARKET FOR OFFSHORE
DOLLAR DEPOSITS AND NO INTEREST PERIOD SHALL END AFTER THE LAST DAY OF THE TERM.
Borrowing Agent shall elect the initial Interest Period applicable to a
Eurodollar Rate Loan by its notice of borrowing given to Agent pursuant to
Section 2.2(b) or by its notice of conversion