received subsequent to 11:00 A.M. Nashville Time to be funded on the next
succeeding Business Day. Subject to the remaining terms of this Loan Agreement
and with regard to Advances that bear interest at the LIBOR Based Rate, the
Agent shall endeavor to cause all requests for Advances to be funded within two
(2) Business Days from the date the Agent receives the Borrowing Request.
The giving of notice by Borrower that it is requesting an Advance
shall constitute a warranty that, as of the date the notice is given and as of
the date of the Advance, the officers of the Borrower do not have knowledge of
any Default Conditions or Event of Default as defined herein; and that as of
such date, the representations and warranties contained in Article IV are and
will be true and correct, except as to changes occurring after the date of this
Agreement caused by transactions not prohibited under this Agreement.
Section 2.04 Minimum Advance Amounts. Advances under the Revolving
Credit Notes shall not be made in amounts less than $100,000 without Agent's
prior written consent.
Section 2.05 Required Payments. The Revolving Credit Notes and the Term
Notes shall be payable as set forth therein. Each payment under the Revolving
Credit Notes and the Term Notes shall be made without defense, setoff, or
counterclaim to Agent at its Principal Office in U.S. Dollars for the account
of each of the Lenders and in immediately available funds before 12:00 Noon
Nashville Time on the date such payment is due.
Section 2.06 Applicable Interest Rate.
(a) With regard to the Revolving Credit Notes and at the
time that the Borrower requests an Advance, the Borrower shall deliver
to Agent a Borrowing Request which shall be irrevocable, and which
shall set forth the following: (a) whether the selected interest rate
is the Base Rate or the LIBOR-Based Rate, and (b) if the interest rate
selected is the LIBOR-Based Rate, the maturity selected for the
LIBOR-Based Rate Period. In the event that the Borrower shall fail to
select an Applicable Interest Rate on the Borrowing Request, then it
shall be conclusively presumed that the Borrower has elected the Base
(b) With regard to the Term Notes and upon the Closing
Date, the Borrower shall advise the Agent in writing: (a) whether the
Applicable Interest Rate on the Term Notes is the Base Rate or the
LIBOR-Based Rate, and (b) if the interest rate selected is the
LIBOR-Based Rate, the maturity selected for the LIBOR-Based Rate
(c) At any time that the outstanding principal balance of
the Term Notes or an Advance bears interest at the Base