Common use of Effect of Election Clause in Contracts

Effect of Election. Interest shall accrue from and including the first day of each Interest Period selected by the Borrower to (but not including) the last day of such Interest Period at the Adjusted LIBOR Rate determined as applicable to such Interest Period upon the amount of the unpaid principal balances of the Loans identified by the Borrower in the Borrower’s written election.

Effect of Election. Interest shall accrue from and including the first day of each Interest Period INTEREST PERIOD selected by the Borrower BORROWERS to (but not including) the last day of such Interest Period INTEREST PERIOD at the Adjusted ADJUSTED LIBOR Rate RATE determined as applicable to such Interest Period INTEREST PERIOD upon the amount of the unpaid principal balances balance of the Loans LOAN identified by the Borrower BORROWERS in the Borrower’s BORROWERS’ written election.

Effect of Election. Interest shall accrue from and including the first day of each Interest Period INTEREST PERIOD selected by the Borrower BORROWERS to (but not including) the last day of such Interest Period INTEREST PERIOD at the Adjusted ADJUSTED LIBOR Rate RATE determined as applicable to such Interest Period INTEREST PERIOD upon the amount of the unpaid principal balances of the Loans REVOLVING LOANS identified by the Borrower BORROWERS in the Borrower’s BORROWERS’ written election.

Effect of Election. Interest shall accrue from and including the first day of each Interest Period INTEREST PERIOD selected by the Borrower BORROWER to (but not including) the last day of such Interest Period INTEREST PERIOD at the Adjusted ADJUSTED LIBOR Rate RATE determined as applicable to such Interest Period INTEREST PERIOD upon the amount of the unpaid principal balances of the Loans LOANS identified by the Borrower BORROWER in the Borrower’s BORROWER’S written election.