Common use of Portions Clause in Contracts

Portions. Subject to the terms and conditions of this Section 2, portions of the principal indebtedness evidenced by the Revolving Notes (all of the indebtedness evidenced by the Revolving Notes bearing interest at the same rate for the same period of time being hereinafter referred to as a "Portion") may, at the option of the Company, bear interest with reference to the Domestic Rate ("Domestic Rate Portions") or with reference to the Adjusted LIBOR ("LIBOR Portions"), and Portions may be converted from time to time from one basis to another. All of the indebtedness evidenced by a particular class of Revolving Notes which is not part of a LIBOR Portion shall constitute a single Domestic Rate Portion. LIBOR Portions may be denominated in U.S. Dollars or an Alternative Currency, but Domestic Rate Portions must be denominated in U.S. Dollars only. All of the indebtedness evidenced by Revolving Notes of the same type which bears interest with reference to a particular Adjusted LIBOR for a particular Interest Period and is denominated in a particular currency shall constitute a single LIBOR Portion. There shall not be more than five (5) LIBOR Portions applicable to the Revolving Notes outstanding at any one time, and each Lender shall have a ratable interest in each Portion based on its Percentage. Anything contained herein to the contrary notwithstanding, the obligation of the Lenders to create, continue or effect by conversion any LIBOR Portion shall be conditioned upon the fact that at the time no Default or Event of Default shall have occurred and be continuing. The Company hereby promises to pay interest on each Portion at the rates and times specified in this Section 2.

Portions. Subject to the terms and conditions of this Section 2, portions of the principal indebtedness evidenced by the Revolving Notes (all of the indebtedness evidenced by the Revolving Notes bearing interest at the same rate for the same period of time being hereinafter referred to as a "PortionPORTION") may, at the option of the CompanyCompany (which is acting on behalf of the Borrowers pursuant to Section 1.7 hereof), bear interest with reference to the Domestic Rate ("Domestic Rate PortionsDOMESTIC RATE PORTIONS") or with reference to the Adjusted LIBOR ("LIBOR PortionsPORTIONS"), and Portions may be converted from time to time from one basis to another. All of the indebtedness evidenced by a particular class of Revolving the Notes which is not part of a LIBOR Portion shall constitute a single Domestic Rate Portion. Prior to satisfaction of the LIBOR Portions may be denominated in U.S. Dollars or an Alternative CurrencyCondition, but all of the indebtedness evidenced by the Notes shall constitute a single Domestic Rate Portions must be denominated in U.S. Dollars onlyPortion. All of the indebtedness evidenced by Revolving the Notes of the same type which bears interest with reference to a particular Adjusted LIBOR for a particular Interest Period and is denominated in a particular currency shall constitute a single LIBOR Portion. There shall not be more than five ten (510) LIBOR Portions applicable to the Revolving Notes outstanding at any one time, and each Lender shall have a ratable interest in each Portion based on its PercentagePortion. Anything contained herein to the contrary notwithstanding, (i) no LIBOR Portion shall be created prior to satisfaction of the LIBOR Condition and (ii) the obligation of the Lenders to create, continue or effect by conversion any LIBOR Portion shall be conditioned upon the fact that at the time of each such creation, continuance or conversion into a LIBOR Portion, as the case may be, no Default or Event of Default shall have occurred and be continuing. The Company hereby promises to pay interest on each Portion at the rates and times specified in this Section 22.1.