DEPOSIT IN THE MASTER COLLECTION ACCOUNT IN AN INTEREST-BEARING DEPOSIT
ACCOUNT OR, SUBJECT TO THE APPROVAL OF
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ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT, IN OTHER OVERNIGHT INVESTMENTS
CONSTITUTING PERMITTED INVESTMENTS.
IN NO EVENT SHALL THE COLLATERAL AGENT,
ADMINISTRATIVE AGENT OR ANY OF THE LENDERS BE LIABLE FOR ANY LOSSES INCURRED ON
SUCH INVESTMENTS, INCLUDING AS A RESULT OF ANY EARLY TERMINATION OF SUCH
INVESTMENTS AS AFORESAID.
ARTICLE III
INTEREST AND FEES
3.1
INTEREST.
(A)
LOANS.
SUBJECT TO SECTIONS 3.1(D) AND (E), EACH LOAN SHALL BEAR
INTEREST ON THE OUTSTANDING PRINCIPAL AMOUNT THEREOF FROM THE DATE WHEN MADE
UNTIL IT BECOMES DUE OR IS PREPAID IN FULL AT A RATE PER ANNUM EQUAL TO (I) IN
THE CASE OF BASE RATE LOANS, THE BASE RATE PLUS THE BASE RATE MARGIN OR (II) IN
THE CASE OF EURODOLLAR LOANS, THE EURODOLLAR RATE PLUS THE EURODOLLAR MARGIN.
(B)
PAYMENT OF INTEREST.
INTEREST ON EACH LOAN SHALL BE PAYABLE IN
ARREARS ON EACH INTEREST PAYMENT DATE; PROVIDED, HOWEVER, THAT INTEREST ACCRUING
HEREUNDER INCLUDING, BUT NOT LIMITED TO, THAT PAYABLE PURSUANT TO SECTION 3.1(D)
SHALL BE PAYABLE FROM TIME TO TIME ON DEMAND OF ADMINISTRATIVE AGENT OR THE
REQUIRED LENDERS.
(C)
NOTIFICATION OF RATE.
ADMINISTRATIVE AGENT, UPON DETERMINING THE
INTEREST RATE FOR ANY TRANCHE OF EURODOLLAR LOANS FOR ANY INTEREST PERIOD, SHALL
PROMPTLY NOTIFY THE FUNDS ADMINISTRATOR AND THE APPLICABLE LENDERS THEREOF.
SUCH DETERMINATION SHALL, ABSENT MANIFEST ERROR AND SUBJECT TO SECTION 3.5, BE
FINAL, CONCLUSIVE AND BINDING UPON ALL PARTIES HERETO.
(D)
DEFAULT INTEREST.
NOTWITHSTANDING THE RATES OF INTEREST SPECIFIED
HEREIN, EFFECTIVE ON THE DATE 30 DAYS AFTER THE OCCURRENCE AND CONTINUANCE
DURING SUCH 30 DAY PERIOD OF ANY EVENT OF DEFAULT (OTHER THAN THE FAILURE TO PAY
OBLIGATIONS WHEN DUE) AND FOR SO LONG THEREAFTER AS ANY SUCH EVENT OF DEFAULT
SHALL BE CONTINUING, AND EFFECTIVE IMMEDIATELY UPON ANY FAILURE TO PAY ANY
OBLIGATIONS OR ANY OTHER AMOUNTS DUE UNDER ANY OF THE LOAN DOCUMENTS WHEN DUE,
WHETHER BY ACCELERATION OR OTHERWISE, THE PRINCIPAL BALANCE OF EACH LOAN THEN
OUTSTANDING AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ANY INTEREST PAYMENT
ON EACH LOAN NOT PAID WHEN DUE OR OTHER AMOUNTS THEN DUE AND PAYABLE, SHALL BEAR
INTEREST PAYABLE ON DEMAND, AFTER AS WELL AS BEFORE JUDGMENT, AT A RATE PER
ANNUM EQUAL TO THE DEFAULT RATE.
(E)
MAXIMUM INTEREST.
IF ANY INTEREST PAYMENT OR OTHER CHARGE OR FEE
PAYABLE HEREUNDER EXCEEDS THE MAXIMUM AMOUNT THEN PERMITTED BY APPLICABLE LAW,
THE BORROWERS SHALL BE OBLIGATED TO PAY THE MAXIMUM AMOUNT THEN PERMITTED BY
APPLICABLE LAW AND THE BORROWERS SHALL CONTINUE TO PAY THE MAXIMUM AMOUNT FROM
TIME TO TIME PERMITTED BY APPLICABLE LAW UNTIL ALL SUCH INTEREST PAYMENTS AND
OTHER CHARGES AND FEES OTHERWISE DUE HEREUNDER (IN THE ABSENCE OF SUCH RESTRAINT
IMPOSED BY APPLICABLE LAW) HAVE BEEN PAID IN FULL.
3.2
FEES.
(A)
COMMITMENT FEE.
THE BORROWERS SHALL PAY IN DOLLARS TO
ADMINISTRATIVE AGENT, FOR THE RATABLE BENEFIT OF THE LENDERS, A COMMITMENT FEE
ON THE SUM OF THE TOTAL