Common use of Applicable Interest Rates Clause in Contracts

Applicable Interest Rates. The Borrower shall have the option to elect to have any Segment bear interest at the Floating Rate or the LIBOR-Based Rate. For any period of time and for any Segment with respect to which the Borrower does not elect the LIBOR-Based Rate, such Segment shall bear interest at the Floating Rate. The Borrower's right to elect the LIBOR-Based Rate shall be subject to the following requirements: (a) each LIBOR-Based Rate Segment shall be in the amount of $1,000,000 or more and in an integral multiple of $100,000 thereafter, (b) each LIBOR-Based Rate Segment shall have a maturity selected by the Borrower of one, two or three months, (c) no more than three Segments may be outstanding at any time, and (d) no LIBOR-Based Rate Segment may have a maturity date later than the Termination Date.

Applicable Interest Rates. The Borrower Borrowers shall have the option to elect to have any Segment bear interest at the Floating Base Rate or the LIBOR-Based Rate. For any period of time and for any Segment with respect to which the Borrower does Borrowers do not elect the LIBOR-Based Rate, such Segment shall bear interest at the Floating Base Rate. The Borrower's Borrowers' right to elect the LIBOR-Based Rate shall be subject to the following requirements: (a) each LIBOR-Based Rate Segment shall be in the amount of $1,000,000 500,000 or an integral multiple of $100,000 or more and in an integral multiple of $100,000 thereafterthereof, (b) each LIBOR-Based Rate Segment shall have a maturity selected by the Borrower Borrowers of one, two two, three or three six months, (c) no more than three nine Segments may be outstanding at any time, and (d) no LIBOR-Based Rate Segment may have a maturity date later than the Termination Maturity Date.