IF THE LOANS COMPRISING SUCH GROUP ARE TO BE CONVERTED, THE NEW
TYPE OF LOANS AND, IF THE LOANS BEING CONVERTED ARE TO BE EURODOLLAR LOANS, THE
DURATION OF THE NEXT SUCCEEDING INTEREST PERIOD APPLICABLE THERETO; AND
(IV)
IF SUCH LOANS ARE TO BE CONTINUED AS EURODOLLAR LOANS FOR AN
ADDITIONAL INTEREST PERIOD, THE DURATION OF SUCH ADDITIONAL INTEREST PERIOD.
Each Interest Period specified in a Notice of Interest Rate Election shall
comply with the provisions of the definition of the term "Interest Period".
If
no Notice of Extension/Conversion is timely received prior to the end of an
Interest Period for any Group of Eurodollar Loans, the Borrower shall be deemed
to have elected that such Group be converted to Base Rate Loans as of the last
day of such Interest Period.
60
(C)
NOTIFICATION TO LENDERS.
UPON RECEIPT OF A NOTICE OF
EXTENSION/CONVERSION FROM THE BORROWER PURSUANT TO SUBSECTION 2.07(A) ABOVE, THE
ADMINISTRATIVE AGENT SHALL PROMPTLY NOTIFY EACH LENDER OF THE CONTENTS THEREOF.
(D)
LIMITATION ON CONVERSION/CONTINUATION OPTIONS.
THE BORROWER SHALL
NOT BE ENTITLED TO ELECT TO CONVERT ANY LOANS TO, OR CONTINUE ANY LOANS FOR AN
ADDITIONAL INTEREST PERIOD AS, EURODOLLAR LOANS IF (I) THE AGGREGATE PRINCIPAL
AMOUNT OF ANY GROUP OF EURODOLLAR LOANS CREATED OR CONTINUED AS A RESULT OF SUCH
ELECTION WOULD BE LESS THAN $2,000,000 OR (II) A DEFAULT SHALL HAVE OCCURRED AND
BE CONTINUING WHEN THE BORROWER DELIVERS NOTICE OF SUCH ELECTION TO THE
ADMINISTRATIVE AGENT AND THE REQUIRED LENDERS HAVE DIRECTED THE ADMINISTRATIVE
AGENT DURING THE PERIOD OF SUCH EVENT OF DEFAULT THAT EURODOLLAR LOANS SHALL NO
LONGER BE MADE AVAILABLE TO THE BORROWER.
(E)
ACCRUED INTEREST.
ACCRUED INTEREST ON A LOAN (OR PORTION THEREOF)
BEING EXTENDED OR CONVERTED SHALL BE PAID BY THE BORROWER (I) WITH RESPECT TO
ANY BASE RATE LOAN BEING CONVERTED TO A EURODOLLAR LOAN, ON THE LAST BUSINESS
DAY OF THE FIRST FISCAL QUARTER OF THE BORROWER ENDING ON OR AFTER THE DATE OF
CONVERSION AND (II) OTHERWISE, ON THE DATE OF EXTENSION OR CONVERSION.
SECTION 2.08
MATURITY OF LOANS.
(A)
MATURITY OF REVOLVING LOANS.
THE REVOLVING LOANS SHALL MATURE ON
THE REVOLVING TERMINATION DATE, AND ANY REVOLVING LOANS, SWING LINE LOANS AND
L/C OBLIGATIONS THEN OUTSTANDING (TOGETHER WITH ACCRUED INTEREST THEREON AND
FEES IN RESPECT THEREOF) SHALL BE DUE AND PAYABLE ON SUCH DATE.
(B)
SCHEDULED AMORTIZATION OF TERM B LOANS.
THE BORROWER SHALL REPAY,
AND THERE SHALL BECOME DUE AND PAYABLE (TOGETHER WITH ACCRUED INTEREST THEREON)
ON EACH PRINCIPAL AMORTIZATION PAYMENT DATE AND ON THE TERM B MATURITY DATE (I)
THE SUM OF (A) 1⁄4 OF 1% OF THE AGGREGATE INITIAL PRINCIPAL AMOUNT OF THE TERM B
LOANS OUTSTANDING AT THE CLOSE OF THE AVAILABILITY PERIOD FOR TERM B LOANS IN
THE CASE OF THE FIRST 27 PRINCIPAL AMORTIZATION PAYMENT DATES AND (B) 1⁄4 OF 1% OF
THE AGGREGATE INITIAL PRINCIPAL AMOUNT OF EACH ADDITIONAL TERM B LOANS MADE AS
PART OF A FACILITIES INCREASE IN THE CASE OF EACH OF THE THEN REMAINING
PRINCIPAL