Common use of Interest Option Clause in Contracts

Interest Option. Subject to the provisions hereof, Borrower shall have --------------- the option (an "Interest Option") of having designated portions of the unpaid --------------- principal balance of this Amended Note bear interest at a rate based upon the Adjusted LIBOR Rate or Prime Rate as provided in paragraph 3 hereof, provided, however, that the selection of the Adjusted LIBOR Rate for a particular Interest Period shall not be for less than $100,000.00 of unpaid principal or an integral multiple thereof. The Interest Option shall be exercised in the manner provided below:

Interest Option. Subject to the provisions hereof, Borrower shall have --------------- the option (an "Interest Option") of having designated portions of the unpaid --------------- principal balance of this Amended Note bear interest at a rate based upon the Adjusted LIBOR Rate or Prime Rate as provided in paragraph 3 hereof, provided, however, that the selection of the Adjusted LIBOR Rate for a particular Interest Period shall not be for less than $100,000.00 of unpaid principal or an integral multiple thereof. The Interest Option shall be exercised in the manner provided below: (i) At Time of Borrowing. Borrower shall give Bank an Interest Notice indicating the initial Interest Option selected with respect to the principal balance of such advance.