Common use of Interest Rate Elections Clause in Contracts

Interest Rate Elections. (a) Subject to the terms and conditions of this Agreement, the Borrower shall have the right, exercisable by submission of an Interest Rate Election, as to any Revolving Credit Loan and as to any portion of the then outstanding principal balance of the Revolving Credit Loans, to be effective on the applicable Interest Adjustment Date for the Loan in question, to elect the Reference Rate or the Libor Rate as the interest rate on such Loan and/or on the portion of the outstanding principal balance of the Loans that is subject to an Interest Rate Election on such Interest Adjustment Date.

Interest Rate Elections. (a) 2.3.1 Subject to the terms and conditions of this Agreement, the Borrower shall have the right, exercisable by submission of an Interest Rate Election, as to any Revolving Credit Loan and as to any portion of the then outstanding principal balance of the Revolving Credit Loans, Elections to be effective on the applicable Interest Adjustment Date for the Loan in question, Loans to elect the Reference Rate Effective Prime or the Libor Fixed Rate as the interest rate on such Loan and/or on the portion of the then-outstanding principal balance of the Loans Loans, but on not less than the of the then-outstanding principal balance, that is subject to an Interest Rate Election on such Interest Adjustment Date. The Borrower may have up to 4 Interest Rate Elections in effect at any one time.

Interest Rate Elections. (aA) Subject to the terms and conditions of this Agreement, the Borrower shall have the right, exercisable by submission of an Interest Rate Election, as to any Revolving Credit Loan (other than Bid Loans and Swing Loans) and as to any portion of the then outstanding principal balance of the Revolving Credit Loans (other than Bid Loans and Swing Loans), to be effective on the applicable Interest Adjustment Date for the Loan in question, to elect the Reference Rate or the Libor Rate as the interest rate on such Loan and/or on the portion of the outstanding principal balance of the Loans that is subject to an Interest Rate Election on such Interest Adjustment Date.