OTHERWISE PAY THE
APPLICABLE OBLIGATIONS OWING TO THE SWINGLINE LENDER.
WITHIN THE FOREGOING
LIMITATIONS, BORROWER MAY BORROW, REPAY AND REBORROW UNDER THE SWINGLINE
FACILITY.
(C)
EACH SWINGLINE ADVANCE SHALL BE IN A MINIMUM AMOUNT OF FIFTY THOUSAND
DOLLARS ($50,000.00) AND IN INCREMENTS OF TEN THOUSAND DOLLARS ($10,000.00).
BORROWERS SHALL BE ENTITLED TO NO MORE THAN FIVE (5) SWINGLINE ADVANCES DURING
EACH CALENDAR MONTH.
PROMPTLY AFTER RECEIPT OF EACH REQUEST FOR A SWINGLINE
ADVANCE, SWINGLINE LENDER SHALL OBTAIN TELEPHONIC VERIFICATION FROM AGENT BANK
THAT, GIVING EFFECT TO SUCH REQUEST, THE AMOUNT OF SUCH REQUEST DOES NOT EXCEED
THE AVAILABLE BORROWINGS (SUCH VERIFICATION TO BE PROMPTLY CONFIRMED IN
WRITING).
UNLESS BORROWER IS
49
NOTIFIED TO THE CONTRARY BY THE SWINGLINE LENDER, EACH REPAYMENT OF A SWINGLINE
ADVANCE SHALL BE IN A MINIMUM AMOUNT OF FIFTY THOUSAND DOLLARS ($50,000.00) AND
IN INCREMENTS OF TEN THOUSAND DOLLARS ($10,000.00), TOGETHER WITH THE ACCRUED
INTEREST THEREON.
(D)
EACH SWINGLINE ADVANCE SHALL BEAR INTEREST AT THE BASE RATE PLUS THE
APPLICABLE MARGIN AND SHALL BE PAYABLE AT THE TIMES AND IN THE MANNER SET FORTH
BELOW AND, IN ANY EVENT, ON OR BEFORE THIRTY-FIVE (35) DAYS PRIOR TO THE
MATURITY DATE.
UNLESS OTHERWISE PAID, INTEREST ACCRUED ON THE UNPAID BALANCE OF
SWINGLINE OUTSTANDINGS SHALL BE PAID MONTHLY ON THE FIRST DAY OF EACH AND EVERY
MONTH.
EACH SWINGLINE ADVANCE SHALL BE FULLY REPAID NO LATER THAN THE FIRST
OCCURRING SWINGLINE SETTLEMENT DATE OCCURRING AFTER SUCH SWINGLINE ADVANCE IS
MADE.
UNLESS BORROWER HAS REQUESTED A LIBOR LOAN FOR THE PURPOSE OF REPAYING
THE SWINGLINE OUTSTANDINGS OR MADE OTHER ARRANGEMENTS ACCEPTABLE TO THE
SWINGLINE LENDER TO PAY THE SWINGLINE OUTSTANDING IN FULL OR TO CONTINUE SUCH
SWINGLINE OUTSTANDING, ON THE BANKING BUSINESS DAY IMMEDIATELY PRECEDING THE
APPLICABLE SWINGLINE SETTLEMENT DATE, BORROWER SHALL REQUEST A BORROWING UNDER
THE CREDIT FACILITY AS A BASE RATE LOAN IN AN AMOUNT SUFFICIENT TO PAY THE
APPLICABLE SWINGLINE ADVANCE IN FULL.
UPON RECEIPT OF THE AMOUNT OF THE
BORROWING FROM THE LENDERS, THE AGENT BANK SHALL PROVIDE SUCH AMOUNT TO THE
SWINGLINE LENDER FOR REPAYMENT OF THE APPLICABLE SWINGLINE ADVANCE AND THE
BALANCE OF THE BORROWING, IF ANY, SHALL BE DEPOSITED IN IMMEDIATELY AVAILABLE
FUNDS TO THE DESIGNATED DEPOSIT ACCOUNT.
IN THE EVENT BORROWER FAILS TO REQUEST
A BORROWING WITHIN THE PERIOD SPECIFIED ABOVE, AGENT BANK SHALL, WITHOUT NOTICE
TO THE BORROWER AND WITHOUT REGARD TO ANY OTHER CONDITIONS PRECEDENT FOR THE
MAKING OF BORROWINGS UNDER THE CREDIT FACILITY, INCLUDING, WITHOUT LIMITATION
THE REMEDIES SET FORTH IN SECTION 7.02, PROMPTLY (BUT SUBJECT TO THE NOTICE
PERIODS FOR BORROWINGS SET FORTH IN SECTION 2.03) REQUEST A BORROWING TO BE MADE
AND EACH OF THE LENDERS AGREE TO FUND SUCH BORROWING UNDER THE CREDIT FACILITY
IN THE AMOUNT NECESSARY TO PAY THE APPLICABLE SWINGLINE ADVANCE IN FULL,
TOGETHER WITH ALL INTEREST ACCRUED THEREON, TO THE EXTENT OF AVAILABLE
BORROWINGS, AND THE BORROWER SHALL BE DEEMED TO HAVE REQUESTED SUCH BORROWING
AND CONSENTED TO ITS BEING MADE AS PROVIDED FOR HEREIN.
(E)
IN THE EVENT AGENT BANK