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This excerpt taken from the WEN 8-K filed Jan 16, 2009. Borrowing
Notice”), substantially in the form of Exhibit
I, not
later
than 12:00 noon (New York, New York time) on the Borrowing Date of each Floating
Rate Advance and three (3) Business Days before the Borrowing Date for each
Eurodollar Advance, specifying:
2.8.1 the
Borrowing Date of such Advance, which shall be a Business Day;
2.8.2 the
aggregate amount of such Advance;
2.8.3 the
Type of Advance selected; and
2.8.4 in
the case of each Eurodollar Advance, the Interest Period applicable
thereto.
Not later than 2:00 p.m. (New York, New York time) on each
Borrowing Date, each Lender shall make available its Loan or Loans in funds
immediately available in New York to the Agent at its address specified pursuant
to ARTICLE
IX. The Agent will promptly
make the funds so received from the Lenders available to the Borrower at the
Agent’s aforesaid address.
2.9. Conversion and
Continuation of Outstanding Advances. Floating Rate Advances shall continue as
Floating Rate Advances unless and until such Floating Rate Advances are
converted into Eurodollar Advances pursuant to this Section
2.9 or are repaid in accordance with Section
2.7. Each Eurodollar Advance shall continue as a
Eurodollar Advance until the end of the then applicable Interest Period
therefor, at which time such Eurodollar Advance shall be automatically converted
into a Floating Rate Advance unless (x) such Eurodollar Advance is or was repaid
in accordance with Section
2.7 or (y) the Borrower shall have given the Agent a
Conversion/Continuation Notice (as defined below) requesting that, at the end of
such Interest Period, such Eurodollar Advance continue as a Eurodollar Advance
for the same or another Interest Period. Subject to the terms of
Section
2.6 and the first sentence of Section
2.12, the Borrower may elect from time to time to convert all
or any part of a Floating Rate Advance into a Eurodollar Advance; provided that
any automatic conversion of a Eurodollar Advance shall only be made on the last
day of the Interest Period applicable thereto. The Borrower shall
give the Agent irrevocable notice (a “ |
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