AMOUNT IS MADE AVAILABLE TO SUCH BORROWER TO BUT EXCLUDING
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THE DATE OF PAYMENT TO THE APPLICABLE AGENT, AT (I) IN THE CASE OF SUCH LENDER,
THE RATE REASONABLY DETERMINED BY THE APPLICABLE AGENT TO BE THE COST TO IT OF
FUNDING SUCH AMOUNT OR (II) IN THE CASE OF SUCH BORROWER, THE INTEREST RATE
APPLICABLE TO THE SUBJECT LOAN.
SECTION 2.07. INTEREST ELECTIONS.
(A) EACH REVOLVING BORROWING INITIALLY SHALL
BE OF THE TYPE SPECIFIED IN THE APPLICABLE BORROWING REQUEST AND, IN THE CASE OF
A LIBOR BORROWING OR A EURIBOR BORROWING, SHALL HAVE AN INITIAL INTEREST PERIOD
AS SPECIFIED IN SUCH BORROWING REQUEST.
THEREAFTER, THE APPLICABLE BORROWER MAY
ELECT TO CONVERT SUCH BORROWING TO A DIFFERENT TYPE OR TO CONTINUE SUCH
BORROWING AND, IN THE CASE OF A LIBOR BORROWING OR A EURIBOR BORROWING, MAY
ELECT INTEREST PERIODS THEREFOR, ALL AS PROVIDED IN THIS SECTION.
A BORROWER
MAY ELECT DIFFERENT OPTIONS WITH RESPECT TO DIFFERENT PORTIONS OF AN AFFECTED
REVOLVING BORROWING, IN WHICH CASE EACH SUCH PORTION SHALL BE ALLOCATED RATABLY
AMONG THE LENDERS HOLDING THE LOANS COMPRISING SUCH BORROWING, AND THE LOANS
COMPRISING EACH SUCH PORTION SHALL BE CONSIDERED A SEPARATE REVOLVING
BORROWING.
THIS SECTION SHALL NOT APPLY TO SWINGLINE BORROWINGS, WHICH MAY NOT
BE CONVERTED OR CONTINUED.
(B)
TO MAKE AN ELECTION PURSUANT TO THIS SECTION, A BORROWER SHALL NOTIFY THE
APPLICABLE AGENT OF SUCH ELECTION BY TELECOPY (OR, IN THE CASE OF THE FACILITY
AGENT, BY TELEPHONE) BY THE TIME THAT A BORROWING REQUEST WOULD BE REQUIRED
UNDER SECTION 2.03 IF SUCH BORROWER WERE REQUESTING A REVOLVING BORROWING OF THE
TYPE RESULTING FROM SUCH ELECTION TO BE MADE ON THE EFFECTIVE DATE OF SUCH
ELECTION.
EACH SUCH INTEREST ELECTION REQUEST SHALL BE IRREVOCABLE AND, IF
TELEPHONIC, SHALL BE CONFIRMED PROMPTLY BY HAND DELIVERY OR TELECOPY TO THE
FACILITY AGENT OF A WRITTEN INTEREST ELECTION REQUEST IN A FORM APPROVED BY THE
FACILITY AGENT AND SIGNED BY A RESPONSIBLE OFFICER OF THE COMPANY, ON BEHALF OF
THE APPLICABLE BORROWER.
NOTWITHSTANDING ANY OTHER PROVISION OF THIS SECTION,
THE BORROWER SHALL NOT BE PERMITTED TO (I) CHANGE THE CURRENCY OF ANY BORROWING,
(II) ELECT AN INTEREST PERIOD FOR LIBOR LOANS OR EURIBOR LOANS THAT DOES NOT
COMPLY WITH SECTION 2.02(D) OR (III) CONVERT ANY BORROWING TO A BORROWING OF A
TYPE NOT AVAILABLE TO SUCH BORROWER UNDER THE CLASS OF COMMITMENTS PURSUANT TO
WHICH SUCH BORROWING WAS MADE.
(C)
EACH TELEPHONIC AND WRITTEN INTEREST ELECTION REQUEST SHALL SPECIFY THE
FOLLOWING INFORMATION IN COMPLIANCE WITH SECTION 2.02 AND PARAGRAPH (E) OF THIS
SECTION:
(I) THE BORROWING TO WHICH SUCH INTEREST ELECTION REQUEST APPLIES AND, IF
DIFFERENT OPTIONS ARE BEING ELECTED WITH RESPECT TO DIFFERENT PORTIONS THEREOF,
THE PORTIONS THEREOF TO BE ALLOCATED TO EACH RESULTING BORROWING (IN WHICH CASE
THE INFORMATION TO BE SPECIFIED PURSUANT TO CLAUSES (III) AND (IV) BELOW SHALL
BE SPECIFIED FOR EACH RESULTING BORROWING);
(II) THE EFFECTIVE DATE OF THE ELECTION MADE PURSUANT TO SUCH INTEREST ELECTION
REQUEST, WHICH SHALL BE A BUSINESS DAY;