Advanced Medical Optics (EYE)

2.09 Interest.

(a) Subject to the provisions of subsection (b) below, (i) each Eurocurrency Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Rate plus (in the case of a Eurocurrency Rate Loan of any Lender which is lent from a Lending Office in the United Kingdom or a Participating Member State) the Mandatory Cost; (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate and (iii) each Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.

(b)(i) Upon the occurrence and during the continuance of an Event of Default under Section 9.01(a), (f) or (g), interest shall thereafter accrue, in the case of overdue or unpaid (in the case of any Event of Default under Section 9.01(f) or (g)) principal, interest or premium (if any) on any Loan at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.

(ii) Upon the occurrence and during the continuance of an Event of Default under Section 9.01(a), (f) or (g), interest shall thereafter accrue, in the case of overdue or unpaid (in the case of any Event of Default under Section 9.01(f) or (g)) amounts payable under the Loan Documents (other than principal, interest or premium (if any) on any Loan) at a fluctuating interest rate per annum at all times equal to the Default Rate applicable to Revolving Credit Loans that are Base Rate Loans to the fullest extent permitted by applicable Laws.

(iii) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.

(c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.