Amendment to Section 3.1(A) of the Loan Agreement. Effective as of December 1, 2004, Section 3.1(A) of the Loan Agreement is hereby amended and restated to read in its entirety as follows: “Outstanding principal on the Loans shall bear interest, calculated daily, at the following rates per annum (individually called, as applicable, an ‘Applicable Annual Rate’): (i) each Loan which is a LIBOR Loan shall bear interest at a rate per annum equal to the applicable LIBOR Base Rate Margin above the LIBOR Base Rate and (ii) each Loan which is a Base Rate Loan shall bear interest at a fluctuating rate per annum equal to the applicable Base Rate Margin above the Base Rate. Interest rate on each Base Rate Loan shall be increased or decreased, as the case may be, by an amount equal to any increase or decrease in the Base Rate, with such adjustments to be effective as of the opening of business on the day that any such change in the Base Rate becomes effective. The Base Rate in effect on the date hereof shall be the Base Rate effective as of the opening of business on the date hereof, but if this Agreement is executed on a day that is not a Business Day, the Base Rate on the date hereof shall be the Base Rate effective as of the opening of business on the last Business Day immediately preceding the date hereof. The interest rate on each Loan shall be calculated daily, based on the actual days elapsed over a 360 day year. Further, for the purpose of computing interest, all items of payment received by Lender shall be applied by Lender (subject to final payment of all drafts and other items received in form other than immediately available funds) against the Obligations on the first Business Day after receipt. The determination of when a payment is received by Lender will be made in accordance with Section 3.6.”
