Money Pool Loans. During the period from the date hereof to and including the Termination Date, ESI and the other Participants shall make available to all Participants (exclusive of Entergy, which is not permitted to effect borrowings through the Money Pool) excess funds from their treasuries in the form of short-term loans. The determination of whether a Participant at any time has funds that may be available for lending through the Money Pool will be made by, or under the direction of, its respective Treasurer or such other person(s) as such Participant may, from time to time, designate. The Money Pool will be managed by ESI with the intent of matching, to the extent possible, the available cash and borrowing requirements of the various Participants in order to minimize the need for Participants to make short-term borrowings from external sources.
Money Pool Loans. During the period from the date hereof to and including the Termination Date, ESI and the other Participants shall make available to all Participants (exclusive of Entergy and Holdings, which are not permitted to effect borrowings through the Money Pool) excess funds from their treasuries in the form of short-term loans. The determination of whether a Participant at any time has funds that may be available for lending through the Money Pool will be made by, or under the direction of, its respective Treasurer or such other person(s) as such Participant may, from time to time, designate. The Money Pool will be managed by ESI with the intent of matching, to the extent possible, the available cash and borrowing requirements of the various Participants in order to minimize the need for Participants to make short-term borrowings from external sources. Allocation of Funds. Subject to the applicable Participant Borrowing Limitation described in Section 2.05, Participants making borrowings through the Money Pool (other than EOI, ESI and SFI) will be entitled to borrow, on any given day, an amount of the total funds then available for lending to the Participants determined on the basis of an equal allocation of such funds among all borrowing Participants, except that where such an allocation would provide one or more borrowing Participants with funds in excess of its or their borrowing requirements, such excess will then be available for Loans equally allocated among the remaining borrowing Participants. To the extent that EOI, ESI and SFI are permitted to effect borrowings through the Money Pool, the remaining funds then available for lending to EOI, ESI and SFI will be allocated among them in the same manner as the available funds are allocated among the other borrowing Participants. Each borrowing Participant will borrow pro rata from each lending Participant in the proportion which the total amount being loaned through the Money Pool by such lending Participant bears to the total amount then being loaned by all Participants through the Money Pool.
