Common use of Interest Options Clause in Contracts

Interest Options. Except where specifically otherwise provided, Borrowings shall bear interest at a rate per annum equal to the LESSER OF (a) as to the respective Type of Borrowing (as designated by Borrower in accordance with this Agreement), the Base Rate plus the Applicable Margin for Base Rate Borrowings or the Adjusted Eurodollar Rate plus the Applicable Margin for Eurodollar Rate Borrowings, AND (b) the Maximum Rate. Each change in the Base Rate or the Maximum Rate, subject to the terms of this Agreement, will become effective, without notice to Borrower or any other Person, upon the effective date of such change.

Interest Options. Except where specifically otherwise provided, Borrowings shall bear interest at a rate per annum equal to the LESSER OF lesser of (a) as to the respective Type of Borrowing (as designated by Borrower in accordance with this Agreement), the Base Prime Rate plus the Applicable Margin for Base Prime Rate Borrowings or the Adjusted Eurodollar Rate plus the Applicable Margin for Eurodollar Rate Borrowings, AND and (b) the Maximum Rate. Each change in the Base Rate Prime Rate, Applicable Margin, or the Maximum Rate, subject to the terms of this Agreement, will become effective, without notice to Borrower or any other Person, upon the effective date of such change.

Interest Options. Except where specifically otherwise provided, Borrowings shall bear interest at a rate per annum equal to the LESSER OF (a) as to the respective Type of Borrowing (as designated by Borrower in accordance with this Agreement), the Base Rate plus PLUS the Applicable Margin for Base Rate Borrowings or the Adjusted Eurodollar Rate plus PLUS the Applicable Margin for Eurodollar Rate Borrowings, AND (b) the Maximum Rate. Each change in the Base Rate or the Maximum Rate, subject to the terms of this Agreement, will become effective, without notice to Borrower or any other Person, upon the effective date of such change.

Interest Options. Except where specifically otherwise provided, Borrowings shall bear interest at a an annual rate per annum equal to the LESSER OF lesser of either (a) as to the respective Type sum of Borrowing (as designated by Borrower in accordance with this Agreement), i) the Base Rate plus the Applicable Margin for Base Rate Borrowings or the Adjusted Eurodollar Rate (in each case as designated or deemed designated by Borrowers), as the case may be, plus (ii) the Applicable Margin for Eurodollar Rate BorrowingsMargin, AND or (b) the Maximum Rate. Each change in the REVOLVING CREDIT AGREEMENT - PAGE 16 -------------------------- (GAINSCO/Bank One) Base Rate or and the Maximum Rate, subject to the terms of this Agreement, will become Rate is effective, without notice to Borrower Borrowers or any other Person, upon the effective date of such change.

Interest Options. Except where specifically otherwise provided, Borrowings shall bear interest at a rate per annum equal to the THE LESSER OF (a) as to the respective Type of Borrowing (as designated by Borrower in accordance with this Agreement), the Base Rate plus PLUS the Applicable Margin for Base Rate Borrowings or the Adjusted Eurodollar Rate plus PLUS the Applicable Margin for Eurodollar Rate Borrowings, in each case as designated in accordance with the terms of this Agreement, AND (b) the Maximum Rate. Each change in the Base Rate or the Maximum Rate, subject to the terms of this Agreement, will become effective, without notice to Borrower or any other Person, upon the effective date of such change.

Interest Options. Except EXCEPT where specifically otherwise provided, Borrowings shall bear interest at a rate per annum equal to the LESSER OF of (a) as to the respective Type of Borrowing (as designated by Borrower in accordance with this Agreement), the Base Rate plus PLUS the Applicable Margin for Base Rate Borrowings or the Adjusted Eurodollar Rate plus PLUS the Applicable Margin for Eurodollar Rate Borrowings, AND (b) the Maximum Rate. Each change in the Base Rate or the Maximum Rate, subject to the terms of this Agreement, will become effective, without notice to Borrower or any other Person, upon the effective date of such change.