OFFSHORE RATE. The Borrower may elect to have all or portions of the principal balance of the line of credit bear interest at the Offshore Rate plus 1.50 percentage points. Designation of an Offshore Rate portion is subject to the following requirements:
OFFSHORE RATE. The Borrower may elect to have all or portions of the principal balance of the line of credit bear interest at the Offshore Rate plus 2.25 percentage points. Designation of an Offshore Rate portion is subject to the following requirements:
OFFSHORE RATE. The Borrower may elect to have all or portions of the principal balance of the line of credit bear interest at the Offshore Rate, subject to the following requirements:
OFFSHORE RATE. The election of Offshore Rates shall be subject to the following terms and requirements:
OFFSHORE RATE. The Borrower may elect to have all or portions of the principal balance of the loan bear interest at the Offshore Rate, subject to the same requirements set forth in subparagraphs (a) through (g) of paragraph 1.7 (except for purposes of this Facility No. 2, the term "loan" is substituted for the term "line of credit" in subparagraphs (d) and (e) of Paragraph 1.7).
OFFSHORE RATE. Rate Plus Disclosed Spread. Borrower may elect to have all or portions of the principal balance of the Revolving Line of Credit bear interest at the Offshore Rate plus two and three quarters percent (2.75%) per annum. Designation of an Offshore Rate portion is subject to the following requirements:
OFFSHORE RATE. The Borrower may elect to have all or portions of the principal balance of the line of credit bear interest at the rate equal to the lesser of (a) the IBOR Rate (as hereinafter defined) plus an amount equal to the percentage amount (the "Offshore Rate") set forth in the table below opposite the applicable ratio, at the time of Borrower's election, of (i) the consolidated Funded Debt to (ii) the consolidated EBITDA (for definition and calculation of the Funded Debt to EBITDA Ratio, refer to paragraph 7.5 of this Agreement), or (b) the Maximum Rate. Borrower shall give Bank notice of its election of an Offshore Rate by such time, and in such manner, as shall be acceptable to Bank. Each such election shall be for an interest period of not less than 30 days or more than 180 days. At the end of any interest period, the interest rate will revert to the Basic Rate unless the Borrower has elected another Offshore Rate interest period. FUNDED DEBT TO EBITDA PERCENTAGE AMOUNT Less than or equal to 1.00:1.00 0.90% Greater than 1.00:1.00 1.25% Designation of an Offshore Rate portion is subject to the following requirements:
OFFSHORE RATE. The Borrower may elect to have all or portions of the principal balance of the line of credit bear interest at the Offshore Rate plus [REDACTED] percentage point. Designation of an Offshore Rate portion is subject to the following requirements: (a) The interest period during which the Offshore Rate will be in effect will be one year or less. The last day of the interest period will be determined by the Bank using the practices of the offshore dollar inter-bank market.
OFFSHORE RATE. Section 1.1
OFFSHORE RATE. The Borrower may elect to have all or portions of the principal amount of the indebtedness outstanding hereunder bear interest at a per annum rate equal to the lesser of (a) the IBOR Rate (as hereinafter defined) plus an amount equal to the percentage amount (the "Offshore Rate") set forth in the table below opposite the applicable ratio, at the time of Borrower's election, of (i) the consolidated Funded Debt to (ii) the consolidated EBITDA (for definition and calculation of the Funded Debt to EBITDA Ratio, refer to paragraph 6.5 of this Agreement), or (b) the Maximum Rate. Borrower shall give Bank notice of its election of an Offshore Rate by such time, and in such manner, as shall be acceptable to Bank. Each such election shall be for an interest period of not less than one month or more than three months. At the end of any interest period, the interest rate will revert to the Basic Rate unless the Borrower has elected another Offshore Rate interest period. Funded Debt to EBITDA Percentage Amount --------------------- ----------------- Less than 1.00:1.00 0.75% Greater than or equal to 1.00% 1.00:1.00 but less than 1.50:100 Greater than or equal to 1.50:1.00 1.25% Election of an Offshore Rate is subject to the following requirements:
