Kodak 2011 Annual Report Download - page 194

Class into, Eurodollar Rate Loans of such Class shall be suspended until the Agent shall notify the Borrowers and such Lenders that the circumstances
causing such suspension no longer exist.
(c) If any Borrower shall fail to select the duration of any Interest Period for any Eurodollar Rate Loans in accordance with the
provisions contained in the definition of “Interest Period” in Section 1.01 , the Agent will forthwith so notify such Borrower and the Appropriate Lenders
and such Loans will automatically, on the last day of the then existing Interest Period therefor, Convert into Base Rate Loans.
(d) On the date on which the aggregate unpaid principal amount of Eurodollar Rate Revolving Loans comprising any Borrowing shall
be reduced, by payment or prepayment or otherwise, to less than $10,000,000 (or $5,000,000 in the case of Canadian Revolving Loans), such Revolving
Loans shall automatically Convert into Base Rate Revolving Loans.
(e) Upon the occurrence and during the continuance of any Event of Default under Section 6.02(a) or, in the case of and with respect
to Revolving Loans, any Borrowing Base Deficiency, (i) each applicable Eurodollar Rate Loan will automatically, on the last day of the then existing
Interest Period therefor, Convert into a Base Rate Loan and (ii) the obligation of the applicable Lenders to make, or to Convert Loans into, Eurodollar Rate
Loans shall be suspended.
(f) If Reuter Screen LIBOR01 is unavailable for determining the Eurodollar Rate for any Eurodollar Rate Loans,
(i) the Agent shall forthwith notify the Borrowers and the Lenders that the interest rate cannot be determined for such
Eurodollar Rate Loans,
(ii) with respect to Eurodollar Rate Loans, each such Loan will automatically, on the last day of the then existing Interest
Period therefor, Convert into a Base Rate Loan (or if such Revolving Loan is then a Base Rate Loan, will continue as a Base Rate Loan), and
(iii) the obligation of the Lenders to make Eurodollar Rate Loans or to Convert Base Rate Loans into Eurodollar Rate Loans
shall be suspended until the Agent shall notify the Company and the Lenders that the circumstances causing such suspension no longer exist.
(g) With respect to Revolving Loans made to Kodak Canada, whenever a rate of interest hereunder is calculated on the basis of a year
(the “ deemed year ”) which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed
as a yearly rate for purposes of the Interest Act (Canada) by multiplying such rate of interest by the actual number of days in the calendar year of calculation
and dividing it by the number of days in the deemed year.
(h) With respect to Revolving Loans made to Kodak Canada, the principle of deemed reinvestment of interest shall not apply to any
interest calculation under this Agreement; all interest payments to be made hereunder shall be paid without allowance or deduction for reinvestment or
otherwise, before and after maturity, default and judgment. The rates of interest specified in this Agreement are intended to be nominal rates and not
effective rates. Interest calculated hereunder shall be calculated using the nominal rate method and not the effective rate method of calculation.
(i) Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan
Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable law (the “ Maximum Rate ”). If the Agent or any Lender
shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the applicable Loans or, if it
exceeds such unpaid principal, refunded to the Borrowers, as applicable. In determining whether the interest contracted for, charged, or received by the
Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable law, (a) characterize any payment that is not
principal as an expense, fee, or
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