PREVIOUS COMPETITIVE BID REQUEST.
(G)
IF THE AGENT SHALL ELECT TO SUBMIT A COMPETITIVE BID IN ITS CAPACITY AS A
LENDER, IT SHALL SUBMIT SUCH BID DIRECTLY TO THE BORROWER ONE QUARTER OF AN HOUR
EARLIER THAN THE LATEST TIME AT WHICH THE OTHER LENDERS ARE REQUIRED TO SUBMIT
THEIR BIDS TO THE AGENT PURSUANT TO PARAGRAPH (B) ABOVE.
(H)
ALL NOTICES REQUIRED BY THIS SECTION SHALL BE GIVEN IN ACCORDANCE WITH
SECTION 9.01.
SECTION 2.04.
STANDBY BORROWING PROCEDURE.
IN ORDER TO REQUEST A STANDBY
BORROWING, THE BORROWER SHALL HAND DELIVER OR TELECOPY TO THE AGENT IN THE FORM
OF EXHIBIT A-5 (A) IN THE CASE OF A EURODOLLAR STANDBY BORROWING, NOT LATER THAN
11:30 A.M., NEW YORK CITY TIME, THREE BUSINESS DAYS BEFORE A PROPOSED BORROWING
AND (B) IN THE CASE OF AN ABR BORROWING, NOT LATER THAN 11:30 A.M., NEW YORK
CITY TIME, ON THE DAY OF A PROPOSED BORROWING.
NO FIXED RATE LOAN SHALL BE
REQUESTED OR MADE PURSUANT TO A STANDBY BORROWING REQUEST.
SUCH NOTICE SHALL BE
IRREVOCABLE AND SHALL IN EACH CASE SPECIFY (I) WHETHER THE BORROWING THEN BEING
REQUESTED IS TO BE A EURODOLLAR STANDBY BORROWING OR AN ABR BORROWING; (II) THE
DATE OF SUCH STANDBY BORROWING (WHICH SHALL BE A BUSINESS DAY) AND THE AMOUNT
THEREOF; AND (III) IF SUCH BORROWING IS TO BE A
23
EURODOLLAR STANDBY BORROWING, THE INTEREST PERIOD WITH RESPECT THERETO.
IF NO
ELECTION AS TO THE TYPE OF STANDBY BORROWING IS SPECIFIED IN ANY SUCH NOTICE,
THEN THE REQUESTED STANDBY BORROWING SHALL BE AN ABR BORROWING.
IF NO INTEREST
PERIOD WITH RESPECT TO ANY EURODOLLAR STANDBY BORROWING IS SPECIFIED IN ANY SUCH
NOTICE, THEN THE BORROWER SHALL BE DEEMED TO HAVE SELECTED AN INTEREST PERIOD OF
ONE MONTH'S DURATION.
IF THE BORROWER SHALL NOT HAVE GIVEN NOTICE IN ACCORDANCE
WITH THIS SECTION OF ITS ELECTION TO REFINANCE A STANDBY BORROWING PRIOR TO THE
END OF THE INTEREST PERIOD IN EFFECT FOR SUCH BORROWING, THEN THE BORROWER SHALL
(UNLESS SUCH BORROWING IS REPAID AT THE END OF SUCH INTEREST PERIOD) BE DEEMED
TO HAVE GIVEN NOTICE OF AN ELECTION TO REFINANCE SUCH BORROWING WITH AN
ABR BORROWING.
THE AGENT SHALL PROMPTLY ADVISE THE LENDERS OF ANY NOTICE GIVEN
PURSUANT TO THIS SECTION AND OF EACH LENDER'S PORTION OF THE REQUESTED
BORROWING.
SECTION 2.05.
SWINGLINE LOANS.
(A)
SUBJECT TO THE TERMS AND CONDITIONS SET
FORTH HEREIN, THE SWINGLINE LENDER AGREES TO MAKE SWINGLINE LOANS TO THE
BORROWER FROM TIME TO TIME ON AND AFTER THE DATE HEREOF AND UNTIL THE EARLIER OF
THE MATURITY DATE AND THE TERMINATION OF THE COMMITMENTS IN AN AGGREGATE
PRINCIPAL AMOUNT AT ANY TIME OUTSTANDING THAT WILL NOT RESULT IN (I) THE
AGGREGATE PRINCIPAL AMOUNT OF ALL OUTSTANDING SWINGLINE LOANS EXCEEDING
$40,000,000 OR (II) THE SUM OF THE TOTAL REVOLVING CREDIT EXPOSURES PLUS THE
AGGREGATE PRINCIPAL AMOUNT OF OUTSTANDING COMPETITIVE LOANS EXCEEDING THE TOTAL
COMMITMENT THEN IN EFFECT.
EACH SWINGLINE LOAN SHALL BEAR INTEREST AT A RATE
DESCRIBED IN SECTION 2.09(D).
WITHIN THE FOREGOING