BUSINESS DAYS AFTER RECEIPT OF SUCH NOTICE, PREPAY
THE OUTSTANDING PRINCIPAL AMOUNT OF ANY ADVANCES OWING BY THE BORROWERS IN AN
AGGREGATE AMOUNT SUFFICIENT TO REDUCE SUCH SUM TO AN AMOUNT NOT TO EXCEED 100%
OF THE AGGREGATE COMMITMENTS OF THE LENDERS ON SUCH DATE.
(III)
PREPAYMENTS OF THE FACILITY MADE PURSUANT TO
THIS SUBSECTION (B) SHALL BE APPLIED FIRST TO PREPAY LETTER OF CREDIT ADVANCES
THEN OUTSTANDING UNTIL SUCH ADVANCES ARE PAID IN FULL, AND SECOND TO PREPAY
REVOLVING CREDIT ADVANCES THEN OUTSTANDING COMPRISING PART OF THE SAME
BORROWINGS UNTIL SUCH ADVANCES ARE PAID IN FULL, AND THIRD DEPOSITED IN THE L/C
CASH COLLATERAL ACCOUNT TO CASH COLLATERALIZE 100% OF THE AVAILABLE AMOUNT OF
THE LETTERS OF CREDIT THEN OUTSTANDING.
UPON THE DRAWING OF ANY LETTER OF
CREDIT FOR WHICH FUNDS ARE ON DEPOSIT IN THE
L/C CASH COLLATERAL ACCOUNT, SUCH FUNDS SHALL BE APPLIED TO REIMBURSE THE
ISSUING BANK OR LENDERS, AS APPLICABLE.
(IV)
ALL PREPAYMENTS UNDER THIS SUBSECTION (B)
SHALL BE MADE TOGETHER WITH ACCRUED INTEREST TO THE DATE OF SUCH PREPAYMENT ON
THE PRINCIPAL AMOUNT PREPAID, TOGETHER WITH ANY AMOUNTS OWING PURSUANT TO
SECTION 9.04(C).
SECTION 2.08
Interest on Revolving Credit Advances and Letter of Credit
Advances.
(a)
Scheduled Interest.
The Borrowers shall pay interest on the
unpaid principal amount of each Advance (other than a Competitive Bid Advance)
owing to each Lender from the date of such Advance until such principal amount
shall be paid in full, at the following rates per annum:
(I)
BASE RATE ADVANCES.
DURING SUCH PERIODS
AS SUCH ADVANCE IS A BASE RATE ADVANCE, A RATE PER ANNUM EQUAL AT ALL TIMES TO
THE SUM OF (A) THE BASE RATE IN EFFECT FROM TIME TO TIME PLUS (B) THE APPLICABLE
MARGIN IN EFFECT FROM TIME TO TIME, PAYABLE IN ARREARS QUARTERLY ON MARCH 31,
JUNE 30, SEPTEMBER 30 AND DECEMBER 31 DURING SUCH PERIODS, ON THE DATE OF ANY
PREPAYMENT THEREOF TO THE EXTENT REQUIRED UNDER SECTION 2.07 AND ON THE
TERMINATION DATE.
(II)
EUROCURRENCY RATE ADVANCES.
DURING SUCH
PERIODS AS SUCH ADVANCE IS A EUROCURRENCY RATE ADVANCE, A RATE PER ANNUM EQUAL
AT ALL TIMES DURING EACH INTEREST PERIOD FOR SUCH ADVANCE TO THE SUM OF (A) THE
EUROCURRENCY RATE FOR SUCH INTEREST PERIOD FOR SUCH ADVANCE PLUS (B) THE
APPLICABLE MARGIN, PAYABLE IN ARREARS ON THE LAST DAY OF SUCH INTEREST PERIOD
AND, IF SUCH INTEREST PERIOD HAS A DURATION OF MORE THAN THREE MONTHS, ON EACH
DAY THAT OCCURS DURING SUCH INTEREST PERIOD EVERY THREE MONTHS FROM THE FIRST
DAY OF SUCH INTEREST PERIOD AND ON THE DATE SUCH EUROCURRENCY RATE ADVANCE SHALL
BE CONVERTED OR PAID IN FULL.
(B)
DEFAULT INTEREST.
UPON THE OCCURRENCE AND
DURING THE CONTINUANCE OF ANY EVENT OF DEFAULT THE ADMINISTRATIVE AGENT MAY, AND
UPON THE REQUEST OF THE REQUIRED LENDERS SHALL, REQUIRE THAT THE BORROWERS PAY
INTEREST ON (I) THE UNPAID PRINCIPAL AMOUNT OF EACH ADVANCE (OTHER THAN A
COMPETITIVE BID ADVANCE) OWING TO EACH LENDER, PAYABLE IN ARREARS ON THE