INTEREST PERIOD, IT WILL BE DEEMED TO HAVE SPECIFIED AN
INTEREST PERIOD OF ONE MONTH.
(B)
FOLLOWING RECEIPT OF A COMMITTED LOAN NOTICE FOR A COMMITTED
BORROWING AND UPON SATISFACTION OF THE APPLICABLE CONDITIONS SET FORTH IN
SECTION 4.02 (AND, IF SUCH COMMITTED BORROWING IS THE INITIAL CREDIT EXTENSION,
SECTION 4.01), THE LENDER SHALL MAKE THE FUNDS SO REQUESTED AVAILABLE TO
BORROWER EITHER BY (I) CREDITING THE ACCOUNT OF BORROWER ON THE BOOKS OF BANK OF
AMERICA WITH THE AMOUNT OF SUCH FUNDS OR (II) WIRE TRANSFER OF SUCH FUNDS, IN
EACH CASE IN ACCORDANCE WITH INSTRUCTIONS PROVIDED TO (AND REASONABLY ACCEPTABLE
TO) THE LENDER BY BORROWER; PROVIDED, HOWEVER, THAT IF, ON THE DATE THE
COMMITTED LOAN NOTICE WITH RESPECT TO SUCH COMMITTED BORROWING IS GIVEN BY
BORROWER, THERE ARE L/C BORROWINGS OUTSTANDING, THEN THE PROCEEDS OF SUCH
COMMITTED BORROWING FIRST, SHALL BE APPLIED, TO THE PAYMENT IN FULL OF ANY SUCH
L/C BORROWINGS, AND SECOND, SHALL BE MADE AVAILABLE TO BORROWER AS PROVIDED
ABOVE.
(C)
EXCEPT AS OTHERWISE PROVIDED HEREIN, A EURODOLLAR RATE LOAN MAY BE
CONTINUED OR CONVERTED ONLY ON THE LAST DAY OF AN INTEREST PERIOD FOR SUCH
EURODOLLAR RATE LOAN.
DURING THE EXISTENCE OF A DEFAULT, NO LOANS MAY BE
REQUESTED AS, CONVERTED TO OR CONTINUED AS EURODOLLAR RATE LOANS, AND DURING THE
EXISTENCE OF AN EVENT OF DEFAULT THE LENDER MAY DEMAND THAT ANY OR ALL OF THE
THEN OUTSTANDING EURODOLLAR RATE LOANS BE CONVERTED IMMEDIATELY TO BASE RATE
COMMITTED LOANS AND BORROWER AGREES TO PAY ALL AMOUNTS DUE UNDER SECTION 3.05 IN
ACCORDANCE WITH THE TERMS THEREOF DUE TO ANY SUCH CONVERSION.
(D)
THE LENDER SHALL PROMPTLY NOTIFY BORROWER OF THE INTEREST RATE
APPLICABLE TO ANY INTEREST PERIOD FOR EURODOLLAR RATE LOANS UPON DETERMINATION
OF SUCH INTEREST RATE.
(E)
AFTER GIVING EFFECT TO ALL COMMITTED BORROWINGS, ALL CONVERSIONS
OF COMMITTED LOANS FROM ONE TYPE TO THE OTHER, AND ALL CONTINUATIONS OF
COMMITTED LOANS AS THE SAME TYPE, THERE SHALL NOT BE MORE THAN SIX INTEREST
PERIODS IN EFFECT WITH RESPECT TO COMMITTED LOANS.
2.03
LETTERS OF CREDIT.
(A)
THE LETTER OF CREDIT COMMITMENT.
(I)
SUBJECT TO THE TERMS AND CONDITIONS SET FORTH HEREIN, (A) THE L/C
ISSUER AGREES, IN RELIANCE UPON THE AGREEMENTS OF THE LENDER SET FORTH IN THIS
SECTION 2.03, (1) FROM TIME TO TIME ON ANY BUSINESS DAY DURING THE PERIOD FROM
THE CLOSING DATE UNTIL THE L/C EXPIRATION DATE, TO ISSUE LETTERS OF CREDIT FOR
THE ACCOUNT OF BORROWER OR ITS SUBSIDIARIES, AND TO AMEND OR EXTEND LETTERS OF
CREDIT PREVIOUSLY ISSUED BY IT, IN ACCORDANCE WITH SUBSECTION (B) BELOW, AND (2)
TO HONOR DRAWINGS UNDER THE LETTERS OF CREDIT; AND (B) THE LENDER AGREES TO
PARTICIPATE IN LETTERS OF CREDIT ISSUED FOR THE ACCOUNT OF BORROWER OR ITS
SUBSIDIARIES AND ANY DRAWINGS THEREUNDER; PROVIDED THAT AFTER GIVING EFFECT TO
ANY L/C CREDIT EXTENSION WITH RESPECT TO ANY LETTER OF CREDIT, (X) THE TOTAL
OUTSTANDINGS SHALL NOT EXCEED THE COMMITMENT, OR (Y) THE OUTSTANDING AMOUNT OF
THE L/C OBLIGATIONS SHALL