OR SECTION 2.2.4, AS THE
CASE MAY BE, THE SWING LINE LENDER SHALL BE ENTITLED TO RECOVER SUCH AMOUNT ON
DEMAND FROM SUCH LENDER, TOGETHER WITH INTEREST THEREON FOR EACH DAY FROM THE
DATE OF NONPAYMENT UNTIL SUCH AMOUNT IS PAID IN FULL AT THE FEDERAL FUNDS RATE
FOR THE FIRST TWO BANKING DAYS AND AT THE BASE RATE THEREAFTER.
2.3
Currency Equivalents for Multicurrency LIBOR Loans.
2.3.1
CONVERSION RATE FOR MULTICURRENCY LIBOR LOANS.
THE PRINCIPAL
AMOUNT OF EACH REVOLVING CREDIT LOAN CONSISTING OF MULTICURRENCY LIBOR LOANS
WHICH IS DENOMINATED IN A FOREIGN CURRENCY (A) WILL BE CONVERTED INTO ITS U.S.
DOLLAR EQUIVALENT ON THE DATE OF THE FUNDING OF SUCH REVOLVING CREDIT LOAN (THE
"CONVERTED PRINCIPAL
24
AMOUNT"), AND THE CONVERTED PRINCIPAL AMOUNT WILL BE ADDED TO THE PRINCIPAL
BALANCE OUTSTANDING UNDER THE REVOLVING CREDIT NOTES ON THE DATE OF THE FUNDING
OF SUCH REVOLVING CREDIT LOAN, AND (B) FROM AND AFTER ANY SUCH DATE, WILL BE
DEEMED TO REMAIN EQUIVALENT TO THE CONVERTED PRINCIPAL AMOUNT UNTIL THE END OF
THE APPLICABLE INTEREST PERIOD NOTWITHSTANDING ANY FLUCTUATION IN EXCHANGE RATES
OCCURRING THEREAFTER.
2.3.2
REVALUATION.
IF AT THE EXPIRATION OF AN INTEREST PERIOD FOR A
REVOLVING CREDIT LOAN CONSISTING OF MULTICURRENCY LIBOR LOANS, SUCH REVOLVING
CREDIT LOAN WILL REMAIN DENOMINATED IN THE SAME FOREIGN CURRENCY FOR A
SUCCEEDING INTEREST PERIOD, THEN THE PRINCIPAL AMOUNT OF SUCH REVOLVING CREDIT
LOAN WILL BE REVALUED BASED ON THE U.S. DOLLAR EQUIVALENT, AND A NEW CONVERTED
PRINCIPAL AMOUNT WILL BE CALCULATED, AS OF THE BANKING DAY PRECEDING THE NEXT
INTEREST PERIOD.
2.4
Letters of Credit.
2.4.1
ISSUANCE OF LETTERS OF CREDIT.
SUBJECT TO ALL TERMS AND CONDITIONS
OF THIS AGREEMENT AND SO LONG AS NO DEFAULT EXISTS, FROM TIME TO TIME ON AND
AFTER THE INITIAL CLOSING DATE AND PRIOR TO THE FINAL MATURITY DATE, EACH
ISSUING BANK WILL ISSUE FOR THE ACCOUNT OF THE BORROWERS STANDBY FINANCIAL AND
STANDBY PERFORMANCE LETTERS OF CREDIT (THE "LETTERS OF CREDIT").
NO ISSUING
BANK WILL ISSUE A LETTER OF CREDIT TO THE EXTENT THAT THE FACE AMOUNT OF SUCH
REQUESTED LETTER OF CREDIT EXCEEDS THE LC AVAILABLE CREDIT, OR WITH RESPECT TO
LETTERS OF CREDIT ISSUED IN CURRENCIES OTHER THAN UNITED STATES DOLLARS, THE
MULTICURRENCY AVAILABLE CREDIT.
2.4.2
REQUESTS FOR LETTERS OF CREDIT.
THE PARENT, ON BEHALF OF THE
APPLICABLE BORROWER, MAY FROM TIME TO TIME REQUEST A LETTER OF CREDIT TO BE
ISSUED (OR AMENDED, RENEWED OR EXTENDED) BY PROVIDING A NOTICE FROM AN
AUTHORIZED REPRESENTATIVE TO THE APPLICABLE ISSUING BANK AND THE AGENT WHICH IS
ACTUALLY RECEIVED BY BOTH NOT LESS THAN THREE BANKING DAYS PRIOR TO THE
REQUESTED CLOSING DATE FOR SUCH LETTER OF CREDIT SPECIFYING (A) THE AMOUNT OF
THE REQUESTED LETTER OF CREDIT, (B) THE APPLICABLE BORROWER, (C) THE BENEFICIARY
THEREOF, (D) THE REQUESTED CLOSING DATE, (E) THE APPLICABLE ISSUING BANK, (F)
THE REQUESTED CURRENCY, IF NOT IN UNITED STATES DOLLARS, (G) THE PRINCIPAL TERMS
OF THE TEXT FOR SUCH LETTER OF CREDIT AND (H) ANY OTHER INFORMATION REASONABLY
REQUESTED BY