excess thereof (or comparable amounts reasonably determined by the
Administrative Agent in the case of Foreign Currency Loans).
2.8 COMMITTED RATE LOAN INTEREST RATE AND PAYMENT DATES.
(A)
THE EUROCURRENCY
LOANS SHALL BEAR INTEREST FOR THE PERIOD FROM THE DATE THEREOF UNTIL THE STATED
MATURITY THEREOF ON THE UNPAID PRINCIPAL AMOUNT THEREOF AT A RATE PER ANNUM
EQUAL TO THE EUROCURRENCY RATE DETERMINED FOR THE INTEREST PERIOD THEREFOR PLUS
THE APPLICABLE MARGIN.
(B)
THE ABR LOANS SHALL BEAR INTEREST FOR EACH DAY DURING THE PERIOD FROM
THE DATE THEREOF UNTIL THE PAYMENT IN FULL THEREOF ON THE UNPAID PRINCIPAL
AMOUNT THEREOF AT A FLUCTUATING RATE PER ANNUM EQUAL TO THE ABR FOR SUCH DAY
PLUS THE APPLICABLE MARGIN.
(C)
IF ALL OR A PORTION OF THE PRINCIPAL AMOUNT OF ANY OF THE COMMITTED
RATE LOANS SHALL NOT BE PAID WHEN DUE (WHETHER AT THE STATED MATURITY, BY
ACCELERATION OR OTHERWISE) SUCH OVERDUE PRINCIPAL AMOUNT OF SUCH COMMITTED RATE
LOAN (I) SHALL BEAR INTEREST AT A RATE PER ANNUM WHICH IS 1% ABOVE THE RATE
WHICH WOULD OTHERWISE BE APPLICABLE PURSUANT TO SUBSECTION 2.8(A) OR (B) AS THE
CASE MAY BE, FROM THE DATE WHEN SUCH PRINCIPAL AMOUNT IS DUE UNTIL THE DATE ON
WHICH SUCH AMOUNT IS PAID IN FULL AND (II) SHALL, IF SUCH COMMITTED RATE LOAN IS
A EUROCURRENCY LOAN DENOMINATED IN DOLLARS, BE CONVERTED TO AN ABR LOAN AT THE
END OF THE INTEREST PERIOD APPLICABLE THERETO.
(D)
INTEREST SHALL BE PAYABLE IN ARREARS ON EACH INTEREST PAYMENT DATE.
2.9 CONVERSION AND CONTINUATION OPTIONS.
(A)
THE RELEVANT BORROWER MAY ELECT
FROM TIME TO TIME TO CONVERT COMMITTED RATE LOANS DENOMINATED IN DOLLARS OF ONE
TYPE INTO COMMITTED RATE LOANS DENOMINATED IN DOLLARS OF ANOTHER TYPE BY GIVING
TO THE ADMINISTRATIVE AGENT IRREVOCABLE NOTICE OF SUCH CONVERSION BY THE
EARLIEST TIME THAT THEY WOULD HAVE BEEN REQUIRED TO GIVE NOTICE UNDER SUBSECTION
2.1(C) IF THEY HAD BEEN BORROWING COMMITTED RATE LOANS OF EACH SUCH TYPE ON THE
CONVERSION DATE SPECIFIED IN SUCH NOTICE, PROVIDED THAT ANY SUCH CONVERSION OF
EUROCURRENCY LOANS MAY ONLY BE MADE ON THE LAST DAY OF AN INTEREST PERIOD WITH
RESPECT THERETO.
ANY SUCH NOTICE OF CONVERSION TO EUROCURRENCY LOANS SHALL
SPECIFY THE LENGTH OF THE INITIAL INTEREST PERIOD OR INTEREST PERIODS THEREFOR.
UPON RECEIPT OF ANY SUCH NOTICE THE ADMINISTRATIVE AGENT SHALL PROMPTLY NOTIFY
EACH BANK THEREOF.
ALL OR ANY PART OF OUTSTANDING EUROCURRENCY LOANS AND ABR
LOANS DENOMINATED IN DOLLARS MAY BE CONVERTED AS PROVIDED HEREIN, PROVIDED THAT
NO LOAN MAY BE CONVERTED INTO A EUROCURRENCY LOAN AFTER THE DATE THAT IS ONE
MONTH PRIOR TO THE TERMINATION DATE.
25
(B)
ANY EUROCURRENCY LOANS MAY BE CONTINUED AS SUCH UPON THE EXPIRATION
OF THE THEN CURRENT INTEREST PERIOD WITH RESPECT THERETO BY THE RELEVANT
BORROWER GIVING NOTICE TO THE ADMINISTRATIVE AGENT OR THE FOREIGN CURRENCY
AGENT, AS THE CASE MAY BE, SUCH NOTICE TO BE GIVEN BY THE TIME IT WOULD HAVE
BEEN REQUIRED TO GIVE NOTICE UNDER SUBSECTION 2.1(C) IF