Common use of LIBOR Tranches Clause in Contracts

LIBOR Tranches. Borrowers shall pay interest in arrears on the unpaid principal amount of each LIBOR Tranche at Adjusted LIBOR (1) on the last day of each LIBOR Interest Period, provided that, if such LIBOR Interest Period is 180 days, Borrowers shall also pay interest on the 90th day of such LIBOR Interest Period, and (2) on the Termination Date.

LIBOR Tranches. Borrowers shall pay interest in arrears on the unpaid principal amount of each LIBOR Tranche at the Adjusted LIBOR Rate (1) on the last day of each LIBOR Interest Period, provided that, if such LIBOR Interest Period is 180 days, Borrowers shall also pay interest on the 90th day of such LIBOR Interest Period, and (2) on the Termination Date.