Each repayment of Borrowings of any Class made pursuant to Section 2.05(a) shall be applied to such Borrowing or Borrowings of such Class as shall have been specified by the Borrower pursuant to a notice to the Administrative Agent. Each such repayment of a Borrowing shall be applied ratably to the Loans included in the repaid Borrowing.

Prior to any repayment of any Term Loan Borrowings of any Class hereunder, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by hand delivery or facsimile) of such election not later than 2:00 p.m., New York City time, two Business Day before the scheduled date of such repayment. In the absence of a designation by the Borrowers as described in the preceding sentence, the Administrative Agent shall make such designation in its reasonable discretion with a view, but no obligation, to minimize breakage costs owing under [Section 2.16]. Each repayment of a Borrowing shall be applied ratably to the Loans included in the repaid Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amount repaid.