current term of this
Agreement.
1.88
"Interest Rate" shall mean,
(A)
SUBJECT TO CLAUSE (B) AND (C) BELOW, (I) AS TO PRIME RATE LOANS, A
RATE EQUAL TO THE THEN APPLICABLE MARGIN FOR PRIME RATE LOANS ON A PER ANNUM
BASIS PLUS THE PRIME RATE AND (II) AS TO EURODOLLAR RATE LOANS, A RATE EQUAL TO
THE THEN APPLICABLE MARGIN FOR EURODOLLAR RATE LOANS ON A PER ANNUM BASIS PLUS
THE ADJUSTED EURODOLLAR RATE; IN THE CASE OF CLAUSE (II) HEREOF BASED ON THE
EURODOLLAR RATE APPLICABLE FOR THE INTEREST PERIOD SELECTED BY BORROWERS AS IN
EFFECT THREE (3) BUSINESS DAYS AFTER THE DATE OF RECEIPT BY AGENT OF THE REQUEST
OF BORROWERS FOR SUCH EURODOLLAR RATE LOANS IN ACCORDANCE WITH THE TERMS HEREOF,
WHETHER SUCH RATE IS HIGHER OR LOWER THAN ANY RATE PREVIOUSLY QUOTED TO
BORROWERS.
(B)
SUBJECT TO CLAUSE (C) OF THIS DEFINITION BELOW, EFFECTIVE AS OF THE
FIRST DAY OF EACH MONTH, THE INTEREST RATE PAYABLE BY BORROWERS SHALL BE
INCREASED OR DECREASED, AS THE CASE MAY BE, (I) AS TO PRIME RATE LOANS, TO THE
RATE EQUAL TO THE APPLICABLE MARGIN ON A PER ANNUM BASIS IN EXCESS OF THE PRIME
RATE, AND (II) AS TO EURODOLLAR RATE LOANS, TO THE RATE EQUAL TO THE APPLICABLE
MARGIN ON A PER ANNUM BASIS IN EXCESS OF THE ADJUSTED EURODOLLAR RATE.
(C)
NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN CLAUSE (A) OF
THIS DEFINITION, THE APPLICABLE MARGIN OTHERWISE USED TO CALCULATE THE INTEREST
RATE FOR PRIME RATE LOANS AND EURODOLLAR RATE LOANS, SHALL BE THE HIGHEST
PERCENTAGE IN THE DEFINITION OF APPLICABLE MARGIN (WITH RESPECT TO LOANS OF THE
APPLICABLE TYPE) PLUS (IN EACH CASE) TWO (2%) PERCENT PER ANNUM (WITHOUT REGARD
TO MONTHLY EXCESS AVAILABILITY), AT AGENT'S OPTION, WITHOUT NOTICE, (I) EITHER
(A) FOR THE PERIOD ON AND AFTER THE DATE OF TERMINATION OR NON-RENEWAL HEREOF
UNTIL SUCH TIME AS ALL OBLIGATIONS ARE INDEFEASIBLY PAID AND SATISFIED IN FULL
IN IMMEDIATELY AVAILABLE FUNDS (OR IN THE CASE OF CONTINGENT OBLIGATIONS, AGENT
SHALL HAVE RECEIVED CASH COLLATERAL OR A LETTER OF CREDIT, AT ITS OPTION, ALL IN
ACCORDANCE WITH SECTION 13.1(C)), OR (B) FOR THE PERIOD FROM AND AFTER THE DATE
OF THE OCCURRENCE OF ANY EVENT OF DEFAULT, AND FOR SO LONG AS SUCH EVENT OF
DEFAULT IS CONTINUING AS DETERMINED BY AGENT AND (II) ON THE LOANS TO BORROWERS
AT ANY TIME OUTSTANDING IN EXCESS OF THE BORROWING BASE OF ANY BORROWER OR THE
LOAN LIMIT OF ANY BORROWER (WHETHER OR NOT SUCH EXCESS(ES) ARISE OR ARE MADE
WITH OR WITHOUT AGENT'S OR ANY LENDER'S KNOWLEDGE OR CONSENT AND WHETHER MADE
BEFORE OR AFTER AN EVENT OF DEFAULT).
1.89
"Inventory" shall mean, as to each Borrower, all of such Borrower's
now owned and hereafter existing or acquired goods, wherever located, which
(a) are leased by such Borrower as lessor; (b) are held by such Borrower for
sale or lease or to be furnished under a contract of service; (c) are furnished
by such Borrower under