AND
DURING THE CONTINUATION OF AN EVENT OF DEFAULT, INTEREST ON THE OUTSTANDING
PRINCIPAL BALANCE OF THE LOANS, AT THE OPTION OF THE BANK, MAY ACCRUE AT THE
DEFAULT RATE AND SHALL BE PAYABLE UPON DEMAND FROM THE BANK.
3.3
INTEREST PAYMENT DATES.
ACCRUED AND UNPAID
INTEREST ON THE UNPAID PRINCIPAL BALANCE OF ALL LOANS WHICH ARE PRIME LOANS,
SHALL BE DUE AND PAYABLE MONTHLY, IN ARREARS, COMMENCING ON NOVEMBER 30, 2008,
AND CONTINUING ON THE LAST DAY OF EACH CALENDAR MONTH THEREAFTER AND ON THE
REVOLVING LOAN MATURITY DATE.
ACCRUED AND UNPAID INTEREST ON THE UNPAID
17
PRINCIPAL BALANCE OF ALL LOANS OUTSTANDING FROM TIME TO TIME WHICH ARE LIBOR
LOANS SHALL BE PAYABLE ON THE LAST BUSINESS DAY OF EACH INTEREST PERIOD
(PROVIDED, HOWEVER, THAT FOR INTEREST PERIODS OF MORE THAN THREE MONTHS, ACCRUED
INTEREST SHALL ALSO BE PAID ON THE DATE WHICH IS THREE MONTHS FROM THE FIRST DAY
OF SUCH INTEREST PERIOD) AND ON THE REVOLVING LOAN MATURITY DATE.
3.4
COMPUTATIONS.
EXCEPT AS OTHERWISE SET FORTH
HEREIN, ALL INTEREST AND FEES SHALL BE CALCULATED ON THE BASIS OF A YEAR
CONSISTING OF 360 DAYS AND SHALL BE PAID FOR THE ACTUAL NUMBER OF DAYS ELAPSED.
PRINCIPAL PAYMENTS SUBMITTED IN FUNDS NOT IMMEDIATELY AVAILABLE SHALL CONTINUE
TO BEAR INTEREST UNTIL COLLECTED.
3.5
LETTER OF CREDIT FEES.
ALL LETTERS OF
CREDIT SHALL BEAR SUCH APPLICATION, ISSUANCE, RENEWAL, NEGOTIATION AND OTHER
FEES AND CHARGES, AND BEAR SUCH INTEREST AS CHARGED BY THE BANK.
IN ADDITION TO
THE FOREGOING, EACH STANDBY LETTERS OF CREDIT ISSUED UNDER AND PURSUANT TO THIS
AGREEMENT SHALL BEAR AN ANNUAL ISSUANCE FEE EQUAL TO THE APPLICABLE L/C FEE
MULTIPLIED BY THE FACE AMOUNT OF SUCH LETTER OF CREDIT, PAYABLE BY THE BORROWER
PRIOR TO THE ISSUANCE BY THE BANK OF SUCH LETTER OF CREDIT AND ANNUALLY
THEREAFTER, UNTIL (I) SUCH LETTER OF CREDIT HAS EXPIRED OR HAS BEEN RETURNED TO
THE BANK, OR (II) THE BANK HAS PAID THE BENEFICIARY THEREUNDER THE FULL FACE
AMOUNT OF SUCH LETTER OF CREDIT.
3.6
NON-USE FEE.
THE BORROWER AGREES TO PAY TO
THE BANK A NON-USE FEE EQUAL TO THE APPLICABLE NON-USE FEE MULTIPLIED BY THE
TOTAL OF (A) THE REVOLVING LOAN COMMITMENT, MINUS (B) THE DAILY AVERAGE OF THE
REVOLVING LOAN EXPOSURE, WHICH NON-USE FEE SHALL BE (X) CALCULATED ON THE BASIS
OF A YEAR CONSISTING OF 360 DAYS, (Y) PAID FOR THE ACTUAL NUMBER OF DAYS
ELAPSED, AND (Z) PAYABLE QUARTERLY IN ARREARS ON THE LAST DAY OF EACH MARCH,
JUNE, SEPTEMBER AND DECEMBER, AND ON THE REVOLVING LOAN TERMINATION DATE.
3.7
COSTS, FEES AND EXPENSES.
THE BORROWER
SHALL PAY OR REIMBURSE THE BANK FOR ALL REASONABLE COSTS, FEES AND EXPENSES
INCURRED BY THE BANK OR FOR WHICH THE BANK BECOMES OBLIGATED IN CONNECTION WITH,
(A) THE NEGOTIATION, PREPARATION AND CONSUMMATION OF THIS AGREEMENT, THE OTHER
LOAN DOCUMENTS AND ALL OTHER DOCUMENTS PROVIDED FOR HEREIN OR DELIVERED OR TO BE
DELIVERED HEREUNDER OR IN CONNECTION HEREWITH (INCLUDING ANY AMENDMENT,
SUPPLEMENT OR WAIVER TO ANY LOAN