LOAN SHALL BE EVIDENCED BY THE SWING LINE NOTE.
3.4
INTEREST RATE.
DURING THE ENTIRE TERM OF THE SWING LINE NOTE, THE
OUTSTANDING PRINCIPAL BALANCE OF THE SWING LINE NOTE SHALL BEAR INTEREST AT THE
ADJUSTED LIBOR MARKET INDEX RATE.
3.5
PAYMENTS OF PRINCIPAL AND INTEREST.
(A)
ON THE FIRST INTEREST PAYMENT DUE DATE FOLLOWING THE DATE OF THE
SWING LINE NOTE, AND ON EACH SUCCESSIVE INTEREST PAYMENT DUE DATE THEREAFTER
UNTIL THE ENTIRE INDEBTEDNESS EVIDENCED BY THE SWING LINE NOTE IS PAID IN FULL,
BORROWERS SHALL PAY TO AGENT FOR THE ACCOUNT OF SWING LINE LENDER ALL ACCRUED
AND UNPAID INTEREST ON THE OUTSTANDING PRINCIPAL BALANCE OF THE SWING LINE NOTE.
(B)
IF NOT EARLIER DEMANDED BY SWING LINE LENDER PURSUANT TO
SECTION 11.3 HEREOF, THE OUTSTANDING PRINCIPAL BALANCE OF THE SWING LINE LOAN,
TOGETHER WITH ALL ACCRUED AND
43
UNPAID INTEREST THEREON, SHALL BE DUE AND PAYABLE TO AGENT FOR THE ACCOUNT OF
SWING LINE LENDER ON THE SWING LINE LOAN MATURITY DATE.
3.6
USE OF PROCEEDS OF SWING LINE LOAN.
THE PROCEEDS OF THE SWING
LINE LOAN SHALL BE USED FOR BORROWERS' GENERAL SHORT-TERM WORKING CAPITAL AND
GENERAL CORPORATE PURPOSES.
3.7
FAILURE TO PURCHASE PRO RATA SHARE OF SWING LINE LOAN ADVANCES.
THE FAILURE OF ANY REVOLVING LOAN LENDER TO PURCHASE ITS PRO RATA SHARE OF ANY
SWING LINE LOAN ADVANCE AS REQUIRED IN SECTION 3.2(C) SHALL NOT RELIEVE ANY
OTHER REVOLVING LOAN LENDER OF ITS OBLIGATION HEREUNDER TO PURCHASE ITS PRO RATA
SHARE OF SUCH SWING LINE LOAN ADVANCE, BUT NO REVOLVING LOAN LENDER SHALL BE
RESPONSIBLE FOR THE FAILURE OF ANY OTHER REVOLVING LOAN LENDER TO PURCHASE ITS
PRO RATA SHARE OF ANY SWING LINE LOAN ADVANCE.
ARTICLE IV
4.
LETTERS OF CREDIT
4.1
ISSUANCE OF LETTERS OF CREDIT.
SUBJECT TO THE TERMS HEREOF, FROM
TIME TO TIME UNTIL THE REVOLVING LOAN MATURITY DATE, BORROWER MAY REQUEST
ISSUING LENDER TO ISSUE, AND ISSUING LENDER AGREES TO ISSUE, LETTERS OF CREDIT
FOR THE ACCOUNT OF BORROWER FROM TIME TO TIME ON ANY BUSINESS DAY IN AN
AGGREGATE AVAILABLE AMOUNT FOR ALL LETTERS OF CREDIT NOT TO EXCEED AT ANY TIME
THE LETTER OF CREDIT COMMITMENT ON SUCH BUSINESS DAY.
NO LETTER OF CREDIT SHALL
HAVE AN EXPIRATION DATE (INCLUDING ALL RIGHTS OF BORROWER OR THE BENEFICIARY TO
REQUIRE RENEWAL) LATER THAN THE EARLIER OF (I) 30 DAYS BEFORE THE REVOLVING LOAN
MATURITY DATE, OR (II) ONE YEAR AFTER THE DATE OF ISSUANCE THEREOF.
IN ORDER
FOR A LETTER OF CREDIT TO BE ISSUED, A BORROWER'S REPRESENTATIVE SHALL DELIVER A
NOTICE OF ISSUANCE TO AGENT AND ISSUING LENDER NOT LATER THAN 1:00 P.M.
(CHARLOTTE, NORTH CAROLINA TIME) ON A DATE NOT LESS THAN THREE (3) BUSINESS DAYS
PRIOR TO THE DATE THE ISSUANCE OF SUCH LETTER OF CREDIT IS SOUGHT, SUCH NOTICE
OF ISSUANCE TO BE ACCOMPANIED BY THE FORM OF THE LETTER OF CREDIT TO BE ISSUED.
IF (I) THE REQUESTED FORM OF SUCH LETTER OF CREDIT IS ACCEPTABLE TO ISSUING
LENDER IN ITS DISCRETION,