Common use of Optional Bases of Borrowing Clause in Contracts

Optional Bases of Borrowing. The unpaid principal amount of the Loans shall bear interest for each day until due on one or more bases selected by the Borrowers’ Agent from among the interest rate Options set forth below. Subject to the provisions of this Agreement, the Borrowers’ Agent may select different Options to apply simultaneously to different Portions of the Loans and may select different Funding Segments to apply simultaneously to different parts of the LIBOR Portion of the Loans. The aggregate number of Funding Segments applicable to the LIBOR Portion of the Loans at any time shall not exceed fifteen (15).

Appears in 2 contracts

Samples: Credit Agreement (Black Box Corp), Credit Agreement (Norstan Inc)

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Optional Bases of Borrowing. The unpaid principal amount of the Loans shall bear interest for each day until due on one or more bases selected by the Borrowers’ Agent Borrower from among the interest rate Options set forth below. Subject to the provisions of this Agreement, the Borrowers’ Agent Borrower may select different Options to apply simultaneously to different Portions of the Loans and may select different Funding Segments to apply simultaneously to different parts of the LIBOR Portion of the Loans. The aggregate number of Funding Segments applicable to the LIBOR Portion of the Loans at any time shall not exceed fifteen ten (1510).

Appears in 1 contract

Samples: Credit Agreement (Black Box Corp)

Optional Bases of Borrowing. The unpaid principal amount of the Loans shall bear interest for each day until due on one or more bases selected by the Borrowers’ Agent applicable Borrower from among the interest rate Options set forth below. Subject to the provisions of this Agreement, Agreement the Borrowers’ Agent Borrowers may select different Options options to apply simultaneously to different Portions of the Loans and may select different Funding Segments to apply simultaneously to different parts of the LIBOR LIBO Rate Portion of the Loans. The aggregate number of Funding Segments applicable to the LIBOR LIBO Rate Portion of the Revolving Credit Loans at any time shall not exceed fifteen (15)ten without the approval of the Agent.

Appears in 1 contract

Samples: Short Term Credit Agreement (Curtiss Wright Corp)

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Optional Bases of Borrowing. The unpaid principal amount of the Loans shall bear interest for each day until due on one or more bases selected by the Borrowers’ Agent Borrower from among the interest rate Options set forth below. Subject to the provisions of this Agreement, the Borrowers’ Agent Borrower may select different Options to apply simultaneously to different Portions of the Loans and may select different Funding Segments to apply simultaneously to different parts of the LIBOR Portion of the Loans. The aggregate number of Funding Segments applicable to the LIBOR Portion of the Loans at any time shall not exceed fifteen (15)fifteen.

Appears in 1 contract

Samples: Credit Agreement (Black Box Corp)

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