Alternative Currency Daily Rate Loans. The Loans comprising each Alternative Currency Daily Rate Borrowing shall bear interest at a rate per annum equal to the Alternative Currency Daily Rate plus the Applicable Rate.
Alternative Currency Daily Rate Loans. Each Borrowing of Alternative Currency Daily Rate Loans shall be made upon the applicable Borrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone or (B) a Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent of a Loan Notice. Each such Loan Notice must be received by the Administrative Agent not later than 11:00 a.m. (Eastern time) three Business Days prior to the requested date of any Borrowing. Each Borrowing of Alternative Currency Daily Rate Loans shall be in a principal amount of the Dollar Equivalent of £5,000,000 or a whole multiple of £1,000,000 in excess thereof. Each Loan Notice shall specify (i) which Borrower is requesting a Borrowing of Alternative Currency Daily Rate Loans, (ii) the requested date of the Borrowing (which shall be a Business Day), and (iii) the currency and principal amount of Loans to be borrowed. Except as otherwise specified in the Credit Agreement, no Alternative Currency Daily Rate Loan may be converted into or continued as a Loan denominated in a different currency, but instead must be repaid in the original currency of such Alternative Currency Daily Rate Loan and reborrowed in the other currency.
