This excerpt taken from the MFLX 8-K filed Jul 20, 2005.



5.1 Period: Subject to the provisions in the definition of “Interest Period” in clause 1.1, each Interest Period shall be one (1) month unless not later than 11.00 a.m. (London time)


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on the fifth (5th) Business Day before the first day of an Interest Period the Bank has received from the Borrower a notice selecting two (2), three (3) or six (6) months, or the Bank and the Borrower have agreed to an Interest Period of any other duration. The Borrower shall not select an Interest Period that will expire after the Final Repayment Date after it receives notices of such date.


5.2 Rate: The rate of interest payable on a Drawing, the Facility or any part thereof for each Interest Period shall be the rate per annum (as determined by the Bank) to be the aggregate of the Margin and LIBOR.


5.3 Payment: Interest under this Agreement shall be calculated on the basis of actual days elapsed (including the first day to the day preceding the last day of each period) and a 360-day year and paid by the Borrower to the Bank in arrears on the Maturity Date in respect of a Drawing.


5.4 Bank’s Certificate: The Bank shall notify the Borrower of each rate of interest as soon as it is determined under this Agreement. The certificate of the Bank as to a rate of interest shall, in the absence of manifest error, be conclusive.


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