THE APPLICABLE COMMITTED LOANS SHALL BE MADE AS, OR CONVERTED
TO, BASE RATE LOANS; PROVIDED, HOWEVER, THAT IN THE CASE OF A FAILURE TO TIMELY
REQUEST A CONTINUATION OF COMMITTED LOANS DENOMINATED IN AN ALTERNATIVE
CURRENCY, SUCH LOANS SHALL BE CONTINUED AS EUROCURRENCY RATE COMMITTED LOANS IN
THEIR ORIGINAL CURRENCY WITH AN INTEREST PERIOD OF ONE MONTH.
ANY 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 EUROCURRENCY RATE
COMMITTED LOANS.
IF THE COMPANY REQUESTS A BORROWING OF, CONVERSION TO, OR
CONTINUATION OF EUROCURRENCY RATE COMMITTED LOANS IN ANY SUCH COMMITTED LOAN
NOTICE, BUT FAILS TO SPECIFY AN INTEREST PERIOD, IT WILL BE DEEMED TO HAVE
SPECIFIED AN INTEREST PERIOD OF ONE MONTH.
NO COMMITTED LOAN MAY BE CONVERTED
INTO OR CONTINUED AS A COMMITTED LOAN DENOMINATED IN A DIFFERENT CURRENCY, BUT
INSTEAD MUST BE PREPAID IN THE ORIGINAL CURRENCY OF SUCH COMMITTED LOAN AND
REBORROWED IN THE OTHER CURRENCY.
(B)
FOLLOWING RECEIPT OF A COMMITTED LOAN
NOTICE, THE ADMINISTRATIVE AGENT SHALL PROMPTLY NOTIFY EACH LENDER OF THE AMOUNT
(AND CURRENCY) OF ITS APPLICABLE PERCENTAGE OF THE APPLICABLE COMMITTED LOANS,
AND IF NO TIMELY NOTICE OF A CONVERSION OR CONTINUATION IS PROVIDED BY THE
COMPANY, THE ADMINISTRATIVE AGENT SHALL NOTIFY EACH LENDER OF THE DETAILS OF ANY
AUTOMATIC CONVERSION TO BASE RATE LOANS OR CONTINUATION OF COMMITTED LOANS
DENOMINATED IN A CURRENCY OTHER THAN DOLLARS, IN EACH CASE AS DESCRIBED IN THE
PRECEDING SUBSECTION.
IN THE CASE OF A COMMITTED BORROWING, EACH LENDER SHALL
MAKE THE AMOUNT OF ITS COMMITTED LOAN AVAILABLE TO THE ADMINISTRATIVE AGENT IN
SAME-DAY FUNDS AT THE ADMINISTRATIVE AGENT'S OFFICE FOR THE APPLICABLE CURRENCY
NOT LATER THAN 1:00 P.M., IN THE CASE OF ANY COMMITTED LOAN DENOMINATED IN
DOLLARS, AND NOT LATER THAN THE APPLICABLE TIME SPECIFIED BY THE ADMINISTRATIVE
AGENT IN THE CASE OF ANY COMMITTED LOAN IN AN ALTERNATIVE CURRENCY, IN EACH CASE
ON THE BUSINESS DAY SPECIFIED IN THE APPLICABLE COMMITTED LOAN NOTICE.
UPON
SATISFACTION OF THE APPLICABLE CONDITIONS SET FORTH IN SECTION 4.02 (AND, IF
SUCH BORROWING IS THE INITIAL CREDIT EXTENSION, SECTION 4.01), THE
ADMINISTRATIVE AGENT SHALL MAKE ALL FUNDS SO RECEIVED AVAILABLE TO THE COMPANY
OR THE OTHER APPLICABLE BORROWER IN LIKE FUNDS AS RECEIVED BY THE ADMINISTRATIVE
AGENT EITHER BY (I) CREDITING THE ACCOUNT OF SUCH BORROWER ON THE BOOKS OF BANK
OF AMERICA WITH THE AMOUNT OF SUCH FUNDS OR (II) WIRE TRANSFER OF SUCH FUNDS, IN
EACH CASE IN ACCORDANCE WITH INSTRUCTIONS PROVIDED TO (AND REASONABLY ACCEPTABLE
TO) THE ADMINISTRATIVE AGENT BY THE COMPANY.
29
(C)
EXCEPT AS OTHERWISE PROVIDED HEREIN, A
EUROCURRENCY RATE COMMITTED LOAN MAY BE CONTINUED OR CONVERTED ONLY ON THE LAST
DAY OF AN INTEREST PERIOD FOR SUCH EUROCURRENCY RATE COMMITTED LOAN.
DURING THE
EXISTENCE OF A DEFAULT, NO LOANS MAY BE REQUESTED AS, CONVERTED TO OR CONTINUED
AS EUROCURRENCY RATE COMMITTED LOANS (WHETHER IN DOLLARS OR ANY ALTERNATIVE
CURRENCY) WITHOUT THE CONSENT OF THE