FairPoint Communications 2004 Annual Report Download - page 210

Swingline Lender (without recourse or warranty) such assignment of the outstanding Swingline Loans as shall be necessary to cause the RF Lenders
to share in such Swingline Loans ratably based upon their respective Percentages, provided that (x) all interest payable on the Swingline Loans shall
be for the account of the Swingline Lender until the date as of which the respective participation is required to be purchased and, to the extent
attributable to the purchased participation, shall be payable to the RF Lender purchasing same from and after such date and (y) at the time any
purchase of participations pursuant to this sentence is actually made, the purchasing RF Lender shall be required to pay the Swingline Lender
interest on the principal amount of participation purchased for each day from and including the day upon which the Mandatory Borrowing would
otherwise have occurred to but excluding the date of payment for such participation, at the overnight Federal Funds Effective Rate for the first three
days and at the interest rate otherwise applicable to RF Loans maintained as Base Rate Loans hereunder for each day thereafter.
(f) Loans under the Incremental B Term Facility (each, an “ Incremental B Term Loan” and, collectively, the “Incremental B Term
Loans”) (i) shall be made to the Borrower by each Lender with an Incremental B Term Commitment pursuant to a single drawing on the respective
Incremental B Term Loan Borrowing 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 all Incremental B Term Loans incurred on such Incremental B Term
Loan Borrowing Date shall be added to the then outstanding Borrowings of Initial B Term Loans as provided in Section 1.14(c) and (iii) shall not
exceed in an aggregate principal amount for any Lender in respect of any incurrence of Incremental B Term Loans the Incremental B Term
Commitment, if any, of such Lender as in effect immediately prior to such incurrence. Once prepaid or repaid, Incremental B Term Loans may not
be reborrowed.
1.02 Minimum Borrowing Amounts, etc. The aggregate principal amount of each Borrowing shall not be less than the Minimum
Borrowing Amount. More than one Borrowing may be incurred on any day, provided that at no time shall there be outstanding more than twelve Borrowings
of Eurodollar Loans.
1.03 Notice of Borrowing. (a) Whenever the Borrower desires to incur Loans under any Facility (excluding Swingline Loans and RF
Loans made pursuant to a Mandatory Borrowing), it shall give the Administrative Agent at its Notice Office, (x) prior to 12:00 Noon (New York time), at least
three Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) of each proposed incurrence of Eurodollar Loans and (y) prior to
12:00 Noon (New York time) on the proposed date thereof, written notice (or telephonic notice promptly confirmed in writing) of each proposed incurrence of
Base Rate Loans. Each such notice (each, a “ Notice of Borrowing”) shall be in the form of Exhibit A-1 and shall be irrevocable and shall specify (i) the
Facility pursuant to which such incurrence is being made, (ii) the aggregate principal amount of the Loans to be made pursuant to such incurrence, (iii) the
date of incurrence (which shall be a Business Day) and (iv) whether the respective Borrowing shall consist of Base Rate Loans or Eurodollar Loans and, if
Eurodollar Loans, the Interest Period to be initially applicable thereto. The Administrative Agent shall promptly give each Lender written notice (or telephonic
notice promptly confirmed in writing) of each proposed incurrence
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