EURODOLLAR DEPOSIT
BEARING INTEREST AT THE RATE OBTAINED PURSUANT TO THE DEFINITION OF LIBOR RATE
IN AN AMOUNT EQUAL TO THE AMOUNT OF SUCH LIBOR CREDIT EXTENSION AND HAVING A
MATURITY COMPARABLE TO THE RELEVANT INTEREST PERIOD; PROVIDED, HOWEVER, THAT
BANK MAY FUND EACH OF ITS LIBOR CREDIT EXTENSIONS IN ANY MANNER IT SEES FIT AND
THE FOREGOING ASSUMPTIONS SHALL BE UTILIZED ONLY FOR THE PURPOSES OF CALCULATING
AMOUNTS PAYABLE UNDER THIS SECTION 3.6 AND UNDER SECTION 3.4.
(E)
LIBOR CREDIT EXTENSIONS AFTER DEFAULT.
AFTER THE OCCURRENCE AND
DURING THE CONTINUANCE OF AN EVENT OF DEFAULT, (I) BORROWER MAY NOT ELECT TO
HAVE A CREDIT EXTENSION BE MADE OR CONTINUED AS, OR CONVERTED TO, A LIBOR CREDIT
EXTENSION AFTER THE EXPIRATION OF ANY INTEREST PERIOD THEN IN EFFECT FOR SUCH
CREDIT EXTENSION AND (II) SUBJECT TO THE PROVISIONS OF SECTION 3.6(C), ANY
NOTICE OF CONVERSION/CONTINUATION GIVEN BY BORROWER WITH RESPECT TO A REQUESTED
CONVERSION/CONTINUATION THAT HAS NOT YET OCCURRED SHALL BE DEEMED TO BE
RESCINDED BY BORROWER AND BE DEEMED A REQUEST TO CONVERT OR CONTINUE CREDIT
EXTENSIONS REFERRED TO THEREIN AS PRIME RATE CREDIT EXTENSIONS.
8
3.7
ADDITIONAL REQUIREMENTS/PROVISIONS REGARDING LIBOR CREDIT
EXTENSIONS.
(A)
IF FOR ANY REASON (INCLUDING VOLUNTARY OR MANDATORY PREPAYMENT OR
ACCELERATION), BORROWER PAYS TO BANK ALL OR PART OF THE PRINCIPAL AMOUNT OF A
LIBOR CREDIT EXTENSION PRIOR TO THE LAST DAY OF THE INTEREST PERIOD FOR SUCH
CREDIT EXTENSION, BORROWER SHALL IMMEDIATELY NOTIFY BORROWER'S ACCOUNT OFFICER
AT BANK AND, ON DEMAND BY BANK, PAY BANK THE AMOUNT (IF ANY) BY WHICH (I) THE
ADDITIONAL INTEREST WHICH WOULD HAVE BEEN PAYABLE ON THE AMOUNT SO RECEIVED HAD
IT NOT BEEN RECEIVED UNTIL THE LAST DAY OF SUCH INTEREST PERIOD EXCEEDS (II) THE
INTEREST WHICH WOULD HAVE BEEN RECOVERABLE BY BANK BY PLACING THE AMOUNT SO
RECEIVED ON DEPOSIT IN THE CERTIFICATE OF DEPOSIT MARKETS, THE OFFSHORE CURRENCY
MARKETS, OR UNITED STATES TREASURY INVESTMENT PRODUCTS, AS THE CASE MAY BE, FOR
A PERIOD STARTING ON THE DATE ON WHICH IT WAS SO RECEIVED AND ENDING ON THE LAST
DAY OF SUCH INTEREST PERIOD AT THE INTEREST RATE DETERMINED BY BANK IN ITS
REASONABLE DISCRETION.
BANK'S DETERMINATION AS TO SUCH AMOUNT SHALL BE
CONCLUSIVE ABSENT MANIFEST ERROR.
(B)
BORROWER SHALL PAY BANK, UPON DEMAND BY BANK, FROM TIME TO TIME
SUCH AMOUNTS AS BANK MAY REASONABLY DETERMINE TO BE NECESSARY TO COMPENSATE IT
FOR ANY COSTS INCURRED BY BANK THAT BANK REASONABLY DETERMINES ARE ATTRIBUTABLE
TO ITS MAKING OR MAINTAINING OF ANY AMOUNT RECEIVABLE BY BANK HEREUNDER IN
RESPECT OF ANY CREDIT EXTENSIONS RELATING THERETO (SUCH INCREASES IN COSTS AND
REDUCTIONS IN AMOUNTS RECEIVABLE BEING HEREIN CALLED "ADDITIONAL COSTS"), IN
EACH CASE RESULTING FROM ANY REGULATORY CHANGE WHICH:
(I)
CHANGES THE BASIS OF TAXATION OF ANY AMOUNTS PAYABLE TO BANK BY
BORROWER UNDER THIS AGREEMENT IN RESPECT OF ANY CREDIT EXTENSIONS (OTHER THAN
CHANGES WHICH AFFECT TAXES MEASURED BY OR IMPOSED ON THE OVERALL NET INCOME OR
GROSS RECEIPTS OF BANK BY ANY JURISDICTION IN WHICH