FairPoint Communications 2004 Annual Report Download - page 208

prior to such incurrence. Once prepaid or repaid, Initial B Term Loans may not be reborrowed.
(b) Loans under the Delayed-Draw B Term Facility (each, a “ Delayed-Draw B Term Loan” and, collectively, the “Delayed-Draw B
Term Loans”) (i) shall be made to the Borrower by each Lender with a Delayed-Draw B Term Commitment pursuant to one or more drawings after
the Initial Borrowing Date for the purposes described in Section 5.05(b), (ii) except as hereinafter provided, shall, at the option of the Borrower, be
initially incurred as Eurodollar Loans or Base Rate Loans and, immediately after such incurrence, be converted into Initial B Term Loans in
accordance with the requirements of Section 1.06(b) and (iii) shall not exceed in aggregate principal amount for any Lender in respect of any
incurrence of Delayed-Draw B Term Loans the Delayed-Draw B Term Commitment, if any, of such Lender as in effect immediately prior to such
incurrence. Once prepaid or repaid, Delayed-Draw B Term Loans may not be reborrowed.
(c) Loans under the Revolving Facility (each, an “ RF Loan” and, collectively, the “RF Loans”) (i) shall be made to the Borrower at
any time and from time to time on and after the Initial Borrowing Date and prior to the RF Maturity Date, (ii) except as hereinafter provided, may, at
the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans, provided that (x) all RF
Loans made as part of the same Borrowing shall, unless otherwise specifically provided herein, consist of RF Loans of the same Type and (y) unless
the Administrative Agent has determined that the Syndication Date has occurred (at which time this clause (y) shall no longer be applicable), no more
than three Borrowings of RF Loans to be maintained as Eurodollar Loans may be incurred prior to the 90th day after the Initial Borrowing Date (or,
if later, the last day of the Interest Period applicable to the third Borrowing of Eurodollar Loans referred to below), each of which Borrowings of
Eurodollar Loans may only have an Interest Period of one month, and the first of which Borrowings may only be made on the same date as the initial
Borrowing of Initial B Term Loans that are maintained as Eurodollar Loans, the second of which Borrowings may only be made on the last day of
the Interest Period of the first such Borrowing and the third of which Borrowings may only be made on the last day of the Interest Period of the
second such Borrowing, (iii) may be repaid and reborrowed in accordance with the provisions hereof, and (iv) shall not exceed (giving effect to any
incurrence thereof and the use of the proceeds of such incurrence) for any Lender in aggregate principal amount at any time outstanding that amount
which, when added to such Lender’s Percentage of the sum of (x) the Letter of Credit Outstandings (exclusive of Unpaid Drawings which are repaid
with the proceeds of, and simultaneously with the incurrence of, the respective incurrence of RF Loans) at such time and (y) the outstanding
principal amount of Swingline Loans (exclusive of Swingline Loans which are repaid with the proceeds of, and simultaneously with the incurrence
of, the respective incurrence of RF Loans) at such time, equals the Available Revolving Commitment, if any, of such Lender at such time.
(d) Subject to and upon the terms and conditions herein set forth, the Swingline Lender agrees to make at any time and from time to
time after the Initial Borrowing Date and prior to the Swingline Expiry Date, a loan or loans to the Borrower
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