NOTWITHSTANDING THE DATE OF COMMENCEMENT OF ANY INTEREST PERIOD WITH RESPECT TO
A LIBOR ADVANTAGE LOAN, INTEREST SHALL ONLY BEGIN TO ACCRUE AS OF THE DATE THE
INITIAL LIBOR ADVANTAGE LOAN IS MADE HEREUNDER AND (II) WITH RESPECT TO EACH
LIBOR RATE LOAN, (A) INITIALLY, THE PERIOD BEGINNING ON (AND INCLUDING) THE DATE
ON WHICH SUCH LIBOR RATE LOAN IS MADE OR CONTINUED AS, OR CONVERTED INTO, A
LIBOR RATE LOAN PURSUANT TO SECTION 2.4.5(II) OR 2.4.5(III) AND ENDING ON (BUT
EXCLUDING) THE DAY WHICH NUMERICALLY CORRESPONDS TO SUCH DATE ONE, TWO, THREE OR
SIX MONTHS THEREAFTER (OR, IF SUCH MONTH HAS NO NUMERICALLY CORRESPONDING DAY,
ON THE LAST BUSINESS DAY OF SUCH MONTH), IN EACH CASE AS THE BORROWER MAY SELECT
IN ITS NOTICE PURSUANT TO SECTION 2.4.5(II) OR 2.4.5(III); AND (B) THEREAFTER,
EACH PERIOD COMMENCING ON THE LAST DAY OF THE NEXT PRECEDING INTEREST PERIOD
APPLICABLE TO SUCH LIBOR RATE LOAN AND ENDING ONE, TWO, THREE OR SIX MONTHS
THEREAFTER, AS SELECTED BY THE BORROWERS BY IRREVOCABLE NOTICE TO THE AGENT
PURSUANT TO SECTION 2.4.5(III) HEREOF; PROVIDED, HOWEVER, THAT (V) AT NO TIME
MAY THERE BE MORE THAN FIVE (5) INTEREST PERIODS IN
6
EFFECT WITH RESPECT TO THE LIBOR RATE LOANS; (W) INTEREST PERIODS COMMENCING ON
THE SAME DATE FOR LIBOR RATE LOANS COMPRISING PART OF THE SAME ADVANCE UNDER
THIS AGREEMENT SHALL BE OF THE SAME DURATION; (X) INTEREST PERIODS FOR LIBOR
RATE LOANS IN CONNECTION WITH WHICH THE BORROWERS HAVE OR MAY INCUR HEDGING
OBLIGATIONS WITH THE ANY BANK SHALL BE OF THE SAME DURATION AS THE RELEVANT
PERIODS SET UNDER THE APPLICABLE HEDGING CONTRACTS; (Y) IF SUCH INTEREST PERIOD
WOULD OTHERWISE END ON A DAY WHICH IS NOT A BUSINESS DAY, SUCH INTEREST PERIOD
SHALL END ON THE NEXT FOLLOWING BUSINESS DAY UNLESS SUCH DAY FALLS IN THE NEXT
CALENDAR MONTH, IN WHICH CASE SUCH INTEREST PERIOD SHALL END ON THE FIRST
PRECEDING BUSINESS DAY; AND (Z) NO INTEREST PERIOD MAY END LATER THAN THE
TERMINATION OF THIS AGREEMENT.
1.1.40
"IRS" SHALL HAVE THE MEANING SET FORTH IN SECTION 5.13 HEREOF.
1.1.41
"ISSUING BANK" MEANS CITIZENS ACTING IN THE CAPACITY AS ISSUING BANK
UNDER THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AND INCLUDES (WHERE THE
CONTEXT SO ADMITS) ANY OTHER PERSON OR PERSONS SUCCEEDING TO THE FUNCTIONS OF
THE ISSUING BANK UNDER THOSE DOCUMENTS.
1.1.42
"LA INTEREST PAYMENT DATE" MEANS, INITIALLY, THE FIRST DAY OF JUNE,
2008, AND THEREAFTER THE DAY OF EACH SUCCEEDING MONTH WHICH NUMERICALLY
CORRESPONDS TO SUCH DATE OR, IF A MONTH DOES NOT CONTAIN A DAY THAT NUMERICALLY
CORRESPONDS TO SUCH DATE, THE LA INTEREST PAYMENT DATE SHALL BE THE LAST DAY OF
SUCH MONTH.
1.1.43
"L/C ADVANCE" MEANS, WITH RESPECT TO ANY BANK, SUCH BANK'S FUNDING
OF ITS PARTICIPATION IN ANY L/C BORROWING IN ACCORDANCE WITH ITS COMMITMENT
PERCENTAGE OF THE REVOLVING CREDIT COMMITMENTS.
1.1.44
"L/C BORROWING" MEANS AN EXTENSION OF CREDIT RESULTING FROM A
DRAWING UNDER ANY LETTER OF CREDIT WHICH HAS NOT BEEN REIMBURSED ON THE