PPL (PPL)

Section 2.05   Interest Rates.

(a)   Interest Rates. Each Loan shall bear interest on the outstanding principal amount thereof, for each day during the Interest Period applicable thereto, at a rate per annum equal to the sum of the London Interbank Offered Rate for such Interest Period plus 1.25%. Such interest shall be payable for each Interest Period on the twentieth (20^th) calendar day (or, if such calendar day is not a Business Day, the next following Business Day) following the last day of such Interest Period. Any overdue principal of or interest on any Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to the sum of 2% plus the London Interbank Offered Rate applicable to such Loan at the date such payment was due.

(b)   Determination and Notice of Interest Rates. The same interest rate shall apply to all outstanding Loans during an Interest Period. The Lender shall determine the interest rate applicable to all Loans during each Interest Period one Business Day before the first day of such Interest Period. The Lender shall give prompt notice to the Borrower of each rate of interest so determined, and its determination thereof shall be conclusive in the absence of manifest error.

Section 2.06   Optional Prepayments and Repayments. The Borrower may prepay any Loan, in each case in whole or in part at any time, or from time to time.

Section 2.07   General Provisions as to Payments. The Borrower shall make each payment of principal of and interest on the Loans not later than 6:00 p.m. (Allentown, Pennsylvania time) on the third business day following receipt of demand notice from the Lender and otherwise on the date when due, without set-off, counterclaim or other deduction, in United States Federal or other funds immediately available, to the Lender at any bank account designated by the Lender from time to time. If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.

Section 2.08   Computation of Interest and Fees. All interest and fees shall be computed on the basis of a year of 360 days and paid for the actual number of days elapsed (including the first day but excluding the last day).