GMTN » Topics » Payment of The Loan Account

This excerpt taken from the GMTN 8-K filed Mar 8, 2006.
       Payment of The Loan Account.

 

(a)           The Borrower may repay all or any portion of the principal balance of the Loan Account from time to time until the Termination Date.

 

(b)           The Borrower, without notice or demand from the Agent or any Revolving Credit Lender, shall pay the Agent that amount, from time to time, which is necessary so that there is no OverAdvance outstanding.

 

(c)           The Borrower shall repay the then entire unpaid balance of the Loan Account and all other Liabilities on the Termination Date.

 

(d)           The Agent shall endeavor to cause the application of payments (if any), pursuant to Sections 2.10(a) and 2.10(b) against LIBOR Loans then outstanding in such manner as results in the least cost to the Borrower, but shall not have any affirmative obligation to do so nor liability on account of the Agent’s failure to have done so.  In no event shall action or inaction taken by the Agent excuse the Borrower from any indemnification obligation under Section 2.10(e).

 

(e)           The Borrower shall indemnify the Agent, each Revolving Credit Lender and each Term Loan Lender and hold the Agent, each Revolving Credit Lender and each Term Loan Lender harmless from and against any loss, cost or expense (including loss of anticipated profits and amounts payable by the Agent or such Revolving Credit Lender or Term Loan Lender on account of “breakage fees” (so-called)) which the Agent or such Revolving Credit Lender or Term Loan Lender may sustain or incur (including, without limitation, by virtue of acceleration after the occurrence of any Event of Default) as a consequence of the following:

 

(i)            Default by the Borrower in payment of the principal amount of or any interest on any LIBOR Loan as and when due and payable, including any such loss or

 

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expense arising from interest or fees payable by such Revolving Credit Lender or Term Loan Lender in order to maintain its LIBOR Loans.

 

(ii)           Default by the Borrower in making a borrowing or conversion after the Borrower has given (or is deemed to have given) a request for a Revolving Credit Loan or a request to convert a Loan from one applicable interest rate to another.

 

(iii)          The making of any payment on a LIBOR Loan or the making of any conversion of any such Loan to a Base Margin Loan on a day that is not the last day of the applicable Interest Period with respect thereto.

 

(f)            All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment, or setoff.

 

This excerpt taken from the GMTN 8-K filed Mar 1, 2005.
       Payment of The Loan Account.

 

(a)           The Borrower may repay all or any portion of the principal balance of the Loan Account from time to time until the Termination Date.

 

(b)           The Borrower, without notice or demand from the Agent or any Revolving Credit Lender, shall pay the Agent that amount, from time to time, which is necessary so that there is no OverAdvance outstanding.

 

(c)           The Borrower shall repay the then entire unpaid balance of the Loan Account and all other Liabilities on the Termination Date.

 

(d)           The Agent shall endeavor to cause the application of payments (if any), pursuant to Sections 2.10(a) and 2.10(b) against LIBOR Loans then outstanding in such manner as results in the least cost to the Borrower, but shall not have any affirmative obligation to do so

 

28



 

nor liability on account of the Agent’s failure to have done so.  In no event shall action or inaction taken by the Agent excuse the Borrower from any indemnification obligation under Section 2.10(e).

 

(e)           The Borrower shall indemnify the Agent and each Revolving Credit Lender and hold the Agent and each Revolving Credit Lender harmless from and against any loss, cost or expense (including loss of anticipated profits and amounts payable by the Agent or such Revolving Credit Lender on account of “breakage fees” (so-called)) which the Agent or such Revolving Credit Lender may sustain or incur (including, without limitation, by virtue of acceleration after the occurrence of any Event of Default) as a consequence of the following:

 

(i)            Default by the Borrower in payment of the principal amount of or any interest on any LIBOR Loan as and when due and payable, including any such loss or expense arising from interest or fees payable by such Revolving Credit Lender in order to maintain its LIBOR Loans.

 

(ii)           Default by the Borrower in making a borrowing or conversion after the Borrower has given (or is deemed to have given) a request for a Revolving Credit Loan or a request to convert a Revolving Credit Loan from one applicable interest rate to another.

 

(iii)          The making of any payment on a LIBOR Loan or the making of any conversion of any such Loan to a Base Margin Loan on a day that is not the last day of the applicable Interest Period with respect thereto.

 

(f)            All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment, or setoff.

 

EXCERPTS ON THIS PAGE:

8-K
Mar 8, 2006
8-K
Mar 1, 2005

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