AT A RATE PER ANNUM EQUAL TO
2% PER ANNUM ABOVE THE INTEREST RATE THAT IS OR WOULD BE APPLICABLE FROM TIME TO
TIME PURSUANT TO SECTION 2.7(A).
(D)
ACCRUAL AND PAYMENT OF INTEREST.
INTEREST SHALL ACCRUE FROM AND
INCLUDING THE DATE OF ANY BORROWING TO BUT EXCLUDING THE DATE OF ANY PREPAYMENT
OR REPAYMENT THEREOF AND SHALL BE PAYABLE:
(I)
IN RESPECT OF EACH BASE RATE LOAN, IN ARREARS ON THE LAST
BUSINESS DAY OF EACH DECEMBER, MARCH, JUNE AND SEPTEMBER AND ON THE MATURITY
DATE;
(II)
IN RESPECT OF EACH EURODOLLAR LOAN, ON THE LAST DAY OF EACH
INTEREST PERIOD APPLICABLE THERETO AND, IN THE CASE OF AN INTEREST PERIOD IN
EXCESS OF THREE MONTHS, ON THE DATES THAT ARE SUCCESSIVELY 90 DAYS AFTER THE
COMMENCEMENT OF SUCH INTEREST PERIOD AND ON THE MATURITY DATE;
(III)
IN RESPECT OF ANY REPAYMENT OR PREPAYMENT OF ANY LOAN (OTHER THAN
A PREPAYMENT OF A BASE RATE LOAN), ON THE DATE OF SUCH REPAYMENT OR PREPAYMENT;
(IV)
IN RESPECT OF ANY CONVERSION OF ANY EURODOLLAR LOAN PRIOR TO THE
END OF THE CURRENT INTEREST PERIOD THEREFOR, ON THE EFFECTIVE DATE OF SUCH
CONVERSION; AND
(V)
IN RESPECT OF ANY INTEREST PAYMENT PURSUANT TO SECTION 2.7(C), ON
DEMAND.
(E)
COMPUTATIONS OF INTEREST.
ALL COMPUTATIONS OF INTEREST ON
EURODOLLAR LOANS AND OTHER AMOUNTS (OTHER THAN BASE RATE LOANS) HEREUNDER SHALL
BE MADE ON THE ACTUAL NUMBER OF DAYS ELAPSED OVER A YEAR OF 360 DAYS, AND ALL
COMPUTATIONS OF INTEREST
35
ON BASE RATE LOANS AND UNPAID DRAWINGS HEREUNDER SHALL BE MADE ON THE ACTUAL
NUMBER OF DAYS ELAPSED OVER A YEAR OF 365 OR 366 DAYS, AS APPLICABLE.
(F)
INFORMATION AS TO INTEREST RATES.
THE ADMINISTRATIVE AGENT UPON
DETERMINING THE INTEREST RATE FOR ANY BORROWING OR ANY CHANGE IN INTEREST RATE
APPLICABLE TO ANY BORROWING AS A RESULT OF A CHANGE IN THE APPLICABLE MARGIN, A
CHANGE IN THE BASE RATE, THE IMPLEMENTATION OF THE DEFAULT RATE OR OTHERWISE,
SHALL PROMPTLY NOTIFY THE BORROWER AND THE LENDERS THEREOF, PROVIDED THAT
(I) ANY SUCH CHANGE SHALL BE IMMEDIATELY EFFECTIVE AS AND WHEN SUCH CHANGE
OCCURS WITHOUT REGARD TO WHEN THE ADMINISTRATIVE AGENT PROVIDES ANY SUCH NOTICE,
AND (II) THE FAILURE OF THE ADMINISTRATIVE AGENT TO GIVE ANY SUCH NOTICE SHALL
IN NO WAY DETRACT FROM OR AFFECT THE OBLIGATION OF THE BORROWER TO PAY INTEREST
AT THE CHANGED RATE.
IF THE ADMINISTRATIVE AGENT IS UNABLE TO DETERMINE THE
ADJUSTED EURODOLLAR RATE FOR ANY BORROWING OF EURODOLLAR LOANS BASED ON THE
QUOTATION SERVICE REFERRED TO IN CLAUSE (I) OF THE DEFINITION OF THE TERM
ADJUSTED EURODOLLAR RATE, IT WILL PROMPTLY SO NOTIFY THE REFERENCE BANKS AND
EACH REFERENCE BANK WILL FURNISH THE ADMINISTRATIVE AGENT TIMELY INFORMATION FOR
THE PURPOSE OF DETERMINING THE ADJUSTED EURODOLLAR RATE FOR SUCH BORROWING.
IF
ANY ONE OR MORE OF THE REFERENCE BANKS SHALL NOT TIMELY FURNISH SUCH
INFORMATION, THE ADMINISTRATIVE AGENT SHALL DETERMINE THE ADJUSTED EURODOLLAR
RATE FOR SUCH BORROWING ON THE BASIS OF TIMELY INFORMATION FURNISHED BY