Supercuts 2008 Annual Report Download - page 207

Business Days following receipt of such notice) make prepayments of Loans such that, after giving effect to all such prepayments, the Effective
Amount of all Loans plus the Effective Amount of L/C Obligations does not exceed the combined Commitments.
(c) Subject to Section 4.04 , if on any date the Effective Amount of all Revolving Loans and Swing Line Loans then outstanding plus the
Effective Amount of all L/C Obligations exceeds the Aggregate Commitment, the Company shall immediately, and without notice or demand,
prepay the outstanding principal amount of the Revolving Loans and L/C Advances by an amount equal to the applicable excess.
2.09 Repayment . The Company shall repay to the Lenders on the Termination Date the aggregate principal amount of Loans
outstanding on such date.
2.10 Interest. (a) Each Revolving Loan shall bear interest on the outstanding principal amount thereof from the applicable Borrowing
Date at a rate per annum equal to (i) the Offshore Rate or the Base Rate, as the case may be (and subject to the Company's right to convert to
other Types of Loans under Section 2.04 ), plus (ii) in the case of Offshore Rate Loans, (x) the Applicable Margin and (y) if such Loans are
Offshore Currency Loans, the Associated Costs Rate, if applicable.
(b) Interest on each Loan shall be paid in arrears on each Interest Payment Date. During the existence of any Event of Default, interest on
all Loans shall be paid on demand of the Administrative Agent (or the Administrative Agent at the request or with the consent of the Required
Lenders).
(c) Notwithstanding subsection 2.10(a) , while any Event of Default under subsection 9.01(a) exists, after acceleration or, upon request of
the Required Lenders during the existence of any other Event of Default, the Company shall pay interest (after as well as before entry of
judgment thereon to the extent permitted by law) on the amount of all outstanding Obligations, at a rate per annum (the "
Default Rate ") which
is determined by adding 2% per annum to the applicable interest rate otherwise then in effect for such Obligations; provided that on and after the
expiration of any Interest Period applicable to any Offshore Rate Loan outstanding on the date of occurrence of such Event of Default or
acceleration, the principal amount of such Loan shall, during the continuation of such Event of Default or after acceleration, bear interest at a
rate per annum equal to the Base Rate plus the Applicable Margin plus 2%. The Administrative Agent will use reasonable efforts to give the
Company notice of the imposition of the Default Rate; provided that the failure of the Administrative Agent to give such notice shall not affect
the Company's obligations to pay the Default Rate.
(d) Anything herein to the contrary notwithstanding, the obligations of the Company to any Lender hereunder shall be subject to the
limitation that payments of interest shall not be required for any period for which interest is computed hereunder, to the extent (but only to the
extent) that contracting for or receiving such payment by such Lender would be contrary to the provisions of any law applicable to such Lender
limiting the highest rate of interest that may be lawfully contracted for, charged or received by such Lender, and in such event the Company shall
pay such Lender interest at the highest rate permitted by applicable law.
2.11 Fees . In addition to certain fees described in Section 3.08 :
(a) Agent's and JPMSI's Fees . The Company shall pay such fees to the Administrative Agent and JPMSI as are required by the letter
agreement between the Company, the Administrative Agent and JPMSI dated June 6, 2007 (the " Agent Fee Letter ").
(b) Facility Fees . The Company shall pay to the Administrative Agent for the account of each Lender a facility fee on the average daily
amount of such Lender's Commitment (regardless of usage), computed on a quarterly basis in arrears on the last Business Day of each calendar
quarter, equal to the Applicable Facility Fee Percentage. For purposes of calculating utilization under this subsection, the Commitments shall be
deemed used to the extent of the Effective Amount of Revolving Loans then
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