Kodak 2011 Annual Report Download - page 193

Base Rate Revolving Loans . During such periods as such Loan is a Base Rate Revolving Loan, a rate per annum equal at all times to the sum of (x) the
Base Rate in effect from time to time plus (y) the Applicable Margin, payable in arrears quarterly on the last day of each January, April, July and October
during such periods and on the date such Base Rate Revolving Loan shall be Converted or paid in full.
(i) Eurodollar Rate Revolving Loans . During such periods as such Loan is a Eurodollar Rate Revolving Loan, a rate per
annum equal at all times during each Interest Period for such Revolving Loan to the sum of (x) the Eurodollar Rate for such Interest Period for
such Revolving Loan plus (y) the Applicable Margin, payable in arrears on the last day of such Interest Period and, if such Interest Period has a
duration of more than three months, on the day of every third month during such Interest Period corresponding to the first day of such Interest
Period and on the date such Eurodollar Rate Revolving Loan shall be Converted or paid in full.
(ii) Base Rate Term Loans . During such periods as such Loan is a Base Rate Term Loan, a rate per annum equal at all times
to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin, payable in arrears quarterly on the last day of each
January, April, July and October during such periods and on the date such Base Rate Term Loan shall be Converted or paid in full.
(iii) Eurodollar Rate Term Loans
. During such periods as such Loan is a Eurodollar Rate Term Loan, a rate per annum equal
at all times during each Interest Period for such Term Loan to the sum of (x) the Eurodollar Rate for such Interest Period for such Term Loan plus
(y) the Applicable Margin, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three
months, on the day of every third month during such Interest Period corresponding to the first day of such Interest Period and on the date such
Eurodollar Rate Term Loan shall be Converted or paid in full.
(b) Default Interest . Upon the occurrence and during the continuance of an Event of Default under Section 6.02(a) , the Agent may,
and upon the request of the Required Lenders shall, require and notify the Borrowers to pay interest (“ Default Interest ”) on (i) the unpaid principal
amount of each Loan owing to each Lender, payable in arrears on the dates referred to in clause (a) (i) , (a) (ii) , or (a)(iii) above, at a rate per annum equal
at all times to 2% per annum above the rate per annum required to be paid on such Loan pursuant to clause (a) (i) , (a) (ii) , or (a)(iii) above and (ii) to the
fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder in respect of the Loans of any Class that is not paid when
due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on
demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Loans of such Class pursuant to
clause (a) (i) or (a)(ii) above, as applicable, provided , however , that following acceleration of the Loans of any Class pursuant to Section 6.01 , Default
Interest on the Loans of such Class shall accrue and be payable hereunder whether or not previously required by the Agent.
SECTION 2.08. Interest Rate Determination . (a) The Agent shall give prompt notice to the Company and the applicable Lenders of
the applicable interest rates determined by the Agent for purposes of each clause of Section 2.07(a) .
(b) If, with respect to any Eurodollar Rate Loans of any Class, Lenders owed at least 50% of the then aggregate principal amount
thereof notify the Agent that the Eurodollar Rate for any Interest Period for such Loans will not adequately reflect the cost to such Lenders of making,
funding or maintaining their respective Eurodollar Rate Loans for such Interest Period, the Agent shall forthwith so notify the Company and the applicable
Lenders, whereupon (i) each Eurodollar Rate Loan of such Class will automatically, on the last day of the then existing Interest Period therefor, Convert
into a Base Rate Loan of such Class, and (ii) the obligation of the applicable Lenders to make, or to Convert Loans of such
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