Capitalization of Interest and Fees. Notwithstanding anything in this Credit Agreement to the contrary, if the Initial Borrower notifies the Administrative Agent no later than the Specified Time, that it elects to capitalize such interest or fees, as applicable, then the amount of such interest or fees shall be capitalized and deemed to be a Loan under this Credit Agreement (each such Loan, a “Capitalized Interest Loan”); provided that such interest or fees shall be automatically capitalized and deemed to be a Loan under this Credit Agreement to the extent the Administrative Agent has not delivered a written invoice setting forth such interest or fees to the Initial Borrower by 9:00 a.m. (New York time) at least four (4) Business Days prior to such payment date; provided further that on any such Interest Payment Date or Letter of Credit fee payment date, as applicable, (i) no Event of Default or Potential Default shall have occurred and be continuing, (ii) each of the representations and warranties set forth herein and in the other Loan Documents shall be true and correct in all material respects on and as of such date, with the same force and effect as if made on and as of such date (except to the extent of changes in facts or circumstances that have been disclosed to the Administrative Agent in writing and do not constitute an Event of Default or to the extent such representations and warranties expressly relate to an earlier or specific date), and (iii) after giving effect to such Capitalized Interest Loan, the Dollar Equivalent of the Principal Obligations will not exceed the Available Commitment. Unless otherwise specified by the Initial Borrower in writing, any such Capitalized Interest Loan shall be either (i) a LIBOR Loan, if the applicable Lender can consolidate such Loan with an existing LIBOR Loan or (ii) a Reference Rate Loan (provided that such Reference Rate Loans shall be automatically converted into LIBOR Loans in accordance with Section 2.3(c) hereof). Such Loan will not be subject to the minimum and multiple amount limitations in Section 2.4 hereof.
Capitalization of Interest and Fees. If a Borrower requests the capitalization of accrued interest, the Administrative Fee or the Unused Fee at least 5 Business Days prior to an Interest Payment Date, the Lender may agree to capitalize such interest or fee by making a Loan to the Borrowers in the amount thereof.
Capitalization of Interest and Fees. Unless written notice is delivered to Agent no later than 12:00 noon, New York City time, on the second (2nd) Business Day prior to a Payment Date, that Borrower wishes to pay all or a portion of accrued interest or fees in cash, such accrued interest and/or fees hereunder that would otherwise be payable on such Payment Date shall be capitalized and added to the Loan Principal Amount as of the relevant Payment Date; provided that no capitalization of interest or fees as described in the preceding sentence shall be permitted if any of the conditions in Section 3(b) (Conditions Precedent to Each Advance), without regard to the requirement to deliver a Notice of Borrowing, would not be satisfied immediately before and after giving effect to such capitalization.
