Common use of Interest and Interest Payment Dates Clause in Contracts

Interest and Interest Payment Dates. In lieu of having interest charged at the rate based upon the Prime Rate, Borrowers shall have the option (the "LIBOR Option") to have interest on all or a portion of the Advances be charged at a rate of interest based upon the LIBOR Rate. Interest on LIBOR Rate Loans shall be payable on the earliest of (i) the Interest Payment Date applicable to LIBOR Rate Loans, (ii) the occurrence of an Event of Default in consequence of which the Required Lenders or Agent on behalf thereof have elected to accelerate the maturity of all or any portion of the Obligations, or (iii) termination of this Agreement pursuant to the terms hereof. On the last day of each applicable Interest Period, unless Administrative Borrower or Bombay Canada, as the case may be, properly has exercised the LIBOR Option with respect thereto, the interest rate applicable to such LIBOR Rate Loan automatically shall convert to the rate of interest then applicable to Prime Rate Loans of the same type hereunder. At any time that an Event of Default has occurred and is continuing, Borrowers no longer shall have the option to request that Advances bear interest at the LIBOR Rate and Agent or Canadian Agent (as the case may be) shall have the right to convert the interest rate on all outstanding LIBOR Rate Loans with an initial Interest Period greater than 3 months to the rate then applicable to Prime Rate Loans hereunder.

Interest and Interest Payment Dates. In lieu of having interest charged at the rate based upon determined by reference to the Prime Base Rate, Borrowers Borrower shall have the option (the "LIBOR Option") to have interest on all or a portion of the Advances be charged at a rate of interest based upon the LIBOR Rate. Interest on LIBOR Rate Loans shall be payable on the earliest of (i) the last day of the Interest Payment Date Period applicable to LIBOR Rate Loansthereto, (ii) the occurrence of an Event of Default in consequence of which the Required Lenders or Agent on behalf thereof have elected elect to accelerate the maturity of all or any portion of the Obligations, or (iii) termination of this Agreement pursuant to the terms hereof, or (iv) the first day of each month that such LIBOR Rate Loan is outstanding. On the last day of each applicable Interest Period, unless Administrative Borrower or Bombay Canada, as the case may be, properly has exercised the LIBOR Option with respect thereto, the interest rate applicable to such LIBOR Rate Loan automatically shall convert to the rate of interest then applicable to Prime Base Rate Loans of the same type hereunder. At any time that an Event of Default has occurred and is continuing, Borrowers Borrower no longer shall have the option to request that Advances bear interest at the LIBOR Rate and Agent or Canadian Agent (as the case may be) shall have the right to convert the interest rate on all outstanding LIBOR Rate Loans with an initial Interest Period greater than 3 months to the rate then applicable to Prime Base Rate Loans hereunder.

Interest and Interest Payment Dates. In lieu of having interest charged at the rate based upon the Prime Base Rate, Borrowers shall have the option (the "LIBOR OptionOPTION") to have interest on all or a portion of the Advances (other than the Special Inventory Advances) be charged at a rate of interest based upon the LIBOR Rate. Interest on LIBOR Rate Loans shall be payable on the earliest of (i) the last day of the Interest Payment Date Period applicable to LIBOR Rate Loansthereto, (ii) the occurrence of an Event of Default in consequence of which the Required Lenders or Agent on behalf thereof have elected elect to accelerate the maturity of all or any portion of the Obligations, or (iii) termination of this Agreement pursuant to the terms hereof, or (iv) the first day of each month that such LIBOR Rate Loan is outstanding. On the last day of each applicable Interest Period, unless Administrative Borrower or Bombay Canada, as the case may be, properly has exercised the LIBOR Option with respect thereto, the interest rate applicable to such LIBOR Rate Loan automatically shall convert to the rate of interest then applicable to Prime Base Rate Loans of the same type hereunder. At any time that an Event of Default has occurred and is continuing, Borrowers no longer shall have the option to request that Advances bear interest at the LIBOR Rate and Agent or Canadian Agent (as the case may be) shall have the right to convert the interest rate on all outstanding LIBOR Rate Loans with an initial Interest Period greater than 3 months to the rate then applicable to Prime Base Rate Loans hereunder.

Interest and Interest Payment Dates. In lieu of having interest charged at the rate based upon the Prime Base Rate, Borrowers shall have the option (the "LIBOR Option") to have interest on all or a portion of the Advances Advances, the Term Loan A or the Term Loan B be charged at a rate of interest based upon the LIBOR Rate. Interest on LIBOR Rate Loans shall be payable on the earliest of (i) the last day of the Interest Payment Date Period applicable to LIBOR Rate Loansthereto, (ii) the occurrence of an Event of Default in consequence of which the Required Lenders or Agent on behalf thereof have elected elect to accelerate the maturity of all or any portion of the Obligations, or (iii) termination of this Agreement pursuant to the terms hereof. On the last day of each applicable Interest Period, unless Administrative Borrower or Bombay Canada, as the case may be, properly has exercised or continued the LIBOR Option with respect thereto, the interest rate applicable to such LIBOR Rate Loan automatically shall convert to the rate of interest then applicable to Prime Base Rate Loans of the same type hereunder. At any time that an Event of Default has occurred and is continuing, Borrowers no longer shall have the option to request that Advances Advances, the Term Loan A or the Term Loan B bear interest at the LIBOR Rate and Agent or Canadian Agent (as the case may be) shall have the right to convert the interest rate on all outstanding LIBOR Rate Loans with an initial Interest Period greater than 3 months to the rate then applicable to Prime Base Rate Loans hereunderhereunder on the last day of the Interest Period applicable thereto.

Interest and Interest Payment Dates. In lieu of having interest charged at the rate based upon the Prime Base Rate, Borrowers shall have the option (the "LIBOR Option") to have interest on all or a portion of the Advances or the Term A Loans be charged at a rate of interest based upon the LIBOR Rate. Interest on LIBOR Rate Loans shall be payable in arrears on the earliest of (i) the Interest Payment Date applicable to LIBOR Rate Loansfirst day of each month beginning May 1, 2003, (ii) the occurrence of an Event of Default in consequence of which the Required Lenders or Agent on behalf thereof have elected elect to accelerate the maturity of all or any portion of the Obligations, or (iii) termination of this Agreement pursuant to the terms hereof. On the last day of each applicable Interest Period, unless Administrative Borrower or Bombay Canada, as the case may be, properly has exercised the LIBOR Option with respect thereto, the interest rate applicable to such LIBOR Rate Loan automatically shall convert to the rate of interest then applicable to Prime Base Rate Loans of the same type hereunder. At any time that an Event of Default has occurred and is continuing, Borrowers no longer shall have the option to request that Advances or the Term A Loans bear interest at the LIBOR Rate and Agent or Canadian Agent (as the case may be) shall have the right to convert the interest rate on all outstanding LIBOR Rate Loans with an initial Interest Period greater than 3 months to the rate then applicable to Prime Base Rate Loans hereunder.

Interest and Interest Payment Dates. In lieu of having interest charged at the rate based upon the Prime Base Rate, Borrowers Borrower shall have the option (the "LIBOR OptionOPTION") to have interest on all or a portion of the Advances be charged at a rate of interest based upon the LIBOR Rate. Interest on LIBOR Rate Loans shall be payable on the earliest of (i) the last day of the Interest Payment Date Period applicable to LIBOR Rate Loansthereto, (ii) the occurrence of an Event of Default in consequence of which the Required Lenders or Agent on behalf thereof have elected elect to accelerate the maturity of all or any portion of the Obligations, or (iii) termination of this Agreement pursuant to the terms hereof, or (iv) the first day of each month that such LIBOR Rate Loan is outstanding. On the last day of each applicable Interest Period, unless Administrative Borrower or Bombay Canada, as the case may be, properly has exercised the LIBOR Option with respect thereto, the interest rate applicable to such LIBOR Rate Loan automatically shall convert to the rate of interest then applicable to Prime Base Rate Loans of the same type hereunder. At any time that an Event of Default has occurred and is continuing, Borrowers Borrower no longer shall have the option to request that Advances bear interest at the LIBOR Rate and Agent or Canadian Agent (as the case may be) shall have the right to convert the interest rate on all outstanding LIBOR Rate Loans with an initial Interest Period greater than 3 months to the rate then applicable to Prime Base Rate Loans hereunder.