A PRINCIPAL AMOUNT OF $500,000 OR A WHOLE MULTIPLE
OF $100,000 IN EXCESS THEREOF.
EACH COMMITTED LOAN NOTICE (WHETHER TELEPHONIC
OR WRITTEN) SHALL SPECIFY (I) WHETHER THE LEAD BORROWER IS REQUESTING A
BORROWING, A CONVERSION OF COMMITTED LOANS FROM ONE TYPE TO THE OTHER, OR A
CONTINUATION OF LIBO RATE LOANS, (II) THE REQUESTED DATE OF THE BORROWING,
CONVERSION OR CONTINUATION, AS THE CASE MAY BE (WHICH SHALL BE A BUSINESS DAY),
(III) THE PRINCIPAL AMOUNT OF COMMITTED LOANS TO BE BORROWED, CONVERTED OR
CONTINUED, (IV) THE TYPE OF COMMITTED LOANS TO BE BORROWED OR TO WHICH EXISTING
COMMITTED LOANS ARE TO BE CONVERTED, AND (V) IF APPLICABLE, THE DURATION OF THE
INTEREST PERIOD WITH RESPECT THERETO.
IF THE LEAD BORROWER FAILS TO SPECIFY A
TYPE OF COMMITTED LOAN IN A COMMITTED LOAN NOTICE OR IF THE LEAD BORROWER FAILS
TO GIVE A TIMELY NOTICE REQUESTING A CONVERSION OR CONTINUATION, THEN THE
APPLICABLE COMMITTED LOANS SHALL BE MADE AS, OR CONVERTED TO, BASE RATE LOANS.
ANY SUCH AUTOMATIC CONVERSION TO BASE RATE LOANS SHALL BE EFFECTIVE AS OF THE
LAST DAY OF THE INTEREST PERIOD THEN IN EFFECT WITH RESPECT TO THE APPLICABLE
LIBO RATE LOANS.
IF THE LEAD BORROWER REQUESTS A BORROWING OF, CONVERSION TO,
OR CONTINUATION OF LIBO RATE LOANS IN ANY SUCH COMMITTED LOAN NOTICE, BUT FAILS
TO SPECIFY AN INTEREST PERIOD, IT WILL BE DEEMED TO HAVE SPECIFIED AN INTEREST
PERIOD OF ONE MONTH.
NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, A SWING
LINE LOAN MAY NOT BE CONVERTED TO A LIBO RATE LOAN.
(C)
FOLLOWING RECEIPT OF A COMMITTED LOAN
NOTICE, THE ADMINISTRATIVE AGENT SHALL PROMPTLY NOTIFY EACH LENDER OF THE AMOUNT
OF ITS APPLICABLE PERCENTAGE OF THE APPLICABLE COMMITTED LOANS, AND IF NO TIMELY
NOTICE OF A CONVERSION OR CONTINUATION IS PROVIDED BY THE LEAD BORROWER, THE
ADMINISTRATIVE AGENT SHALL NOTIFY EACH LENDER OF THE DETAILS OF ANY AUTOMATIC
CONVERSION TO BASE RATE LOANS DESCRIBED IN SECTION 2.02(B).
IN THE CASE OF A
COMMITTED BORROWING, EACH LENDER SHALL MAKE THE AMOUNT OF ITS COMMITTED LOAN
AVAILABLE TO THE ADMINISTRATIVE AGENT IN IMMEDIATELY AVAILABLE FUNDS AT THE
ADMINISTRATIVE AGENT'S OFFICE NOT LATER THAN 1:00 P.M. ON THE BUSINESS DAY
SPECIFIED IN THE APPLICABLE COMMITTED LOAN NOTICE.
UPON SATISFACTION OF THE
APPLICABLE CONDITIONS SET FORTH IN SECTION 4.02 (AND, IF SUCH BORROWING IS THE
INITIAL CREDIT EXTENSION, SECTION 4.01), THE ADMINISTRATIVE AGENT SHALL USE
REASONABLE EFFORTS TO MAKE ALL FUNDS SO RECEIVED AVAILABLE TO THE BORROWERS IN
LIKE FUNDS BY NO LATER THAN 4:00 P.M. ON THE DAY OF RECEIPT BY THE
ADMINISTRATIVE AGENT EITHER BY (I) CREDITING THE ACCOUNT OF THE LEAD BORROWER ON
THE BOOKS OF THE ADMINISTRATIVE AGENT WITH THE AMOUNT OF SUCH FUNDS OR (II) WIRE
TRANSFER
48
OF SUCH FUNDS, IN EACH CASE IN ACCORDANCE WITH INSTRUCTIONS PROVIDED TO (AND
REASONABLY ACCEPTABLE TO) THE ADMINISTRATIVE AGENT BY THE LEAD BORROWER;
PROVIDED, HOWEVER, THAT IF, ON THE DATE THE COMMITTED LOAN NOTICE WITH RESPECT
TO SUCH BORROWING IS GIVEN BY THE LEAD