Common use of Options Available Clause in Contracts

Options Available. The outstanding principal balance of the Notes other than the Swingline Note (which is covered by Section 2.02(a)), shall bear interest at the Base Rate or the Eurodollar Rate, as elected by Borrower in accordance with the terms hereof; provided, that in respect of all Notes, including the Swingline Note, (1) all past due amounts, both principal and accrued interest, which are not paid in full within five (5) days after the date due (whether at stated maturity, by acceleration or otherwise) shall bear interest at the Past Due Rate for the period commencing on the expiration of such five (5) day period until the same is paid in full, and (2) subject to the provisions hereof, Borrower shall have the option of having all or any portion of the principal balances of the Notes from time to time outstanding bear interest at a Eurodollar Rate. The records of Agent and each of the Lenders with respect to Interest Options, Interest Periods and the amounts of Loans to which they are applicable shall be prima facie evidence of the correctness thereof. Interest on the Loans shall be calculated at the Base Rate except where it is expressly provided pursuant to this Agreement that a Eurodollar Rate or the Past Due Rate is to apply. Interest on the amount of each advance against the Notes shall be computed on the amount of that advance and from the date it is made. Notwithstanding anything in this Agreement to the contrary, for the full term of the Notes the interest rate produced by the aggregate of all sums paid or agreed to be paid to the holders of the Notes for the use, forbearance or detention of the debt evidenced thereby (including all interest on the Notes at the Stated Rate plus the Additional Interest) shall not exceed the Ceiling Rate.

Options Available. The outstanding principal balance of the Notes (other than the Swingline Note (which is covered by Section 2.02(a)), Swing Note) shall bear interest at the Base Rate or the Eurodollar Rate, as elected by Borrower in accordance with the terms hereof; provided, that in respect of all Notes, including the Swingline Note, (1) all past due amounts, both principal and accrued interest, which are not paid in full within five (5) days after the date due (whether at stated maturity, by acceleration or otherwise) shall bear interest at the Past Due Rate for the period commencing on the expiration of such five (5) day period until the same is paid in fullRate, and (2) subject to the provisions hereof, Borrower shall have the option of having all or any portion of the principal balances of the Notes (other than the Swing Note) from time to time outstanding bear interest at a Eurodollar Rate. The outstanding principal balance of the Swing Note shall bear interest on each day at a per annum rate equal to the Eurodollar Rate that would be in effect on such day for an Interest Period of one month plus the greater of 1.50% or the Margin Percentage then in effect with respect to Eurodollar Borrowings (the “Overnight LIBOR Rate”); provided that, in the event that the Overnight LIBOR Rate shall cease to be available or determinable for any reason, the outstanding principal balance of the Swing Note shall bear interest on each day at a per annum rate equal to the Base Rate. The records of Agent and each of the Lenders with respect to Interest Options, Interest Periods and the amounts of Loans to which they are applicable shall be prima facie create a rebuttable presumption as to the accuracy thereof, and Agent and Lenders agree to furnish written evidence to Borrower upon request of the correctness thereofBorrower with respect to such matters. Interest on the Loans shall be calculated at the Base Rate except where it is expressly provided pursuant to this Agreement that a Eurodollar Rate or the Past Due Overnight LIBOR Rate is to apply. Interest on the amount of each advance against the Notes shall be computed on the amount of that advance and from the date it is made. Notwithstanding anything in this Agreement to the contrary, for the full term of the Notes the interest rate produced by the aggregate of all sums paid or agreed to be paid to the holders of the Notes for the use, forbearance or detention of the debt evidenced thereby (including all interest on the Notes at the Stated Rate plus the Additional Interest) shall not exceed the Ceiling Rate.

Options Available. The outstanding principal balance of the Notes other than the Swingline Dollar Note (which is covered by Section 2.02(a)), shall bear interest at the lesser of (a) the Base Rate or (b) the Eurodollar Highest Lawful Rate and each Pound Loan shall bear interest at the lesser of (a) the Eurosterling Rate for the date of such Loan and with an Interest Period of one month or (b) the Highest Lawful Rate, as elected by Borrower in accordance with the terms hereof; provided, provided that in respect of all Notes, including the Swingline Note, (1) all past due amounts, both principal and accrued interest, which are not paid in full within five (5) days after the date due (whether at stated maturity, by acceleration or otherwise) shall bear interest at the Past Due Rate for the period commencing on the expiration of such five (5) day period until the same is paid in fullRate, and (2) subject to the provisions hereof, Borrower the Dollar Borrowers shall have the option of having all or any portion of the principal balances balance of the Notes Dollar Note from time to time outstanding bear interest at a Eurodollar RateRate and DSL shall have the option of having all or any portion of the principal balance of the Pound Note from time to time outstanding bear interest at a Eurosterling Rate with a different Interest Period. The records of Agent and each of the Lenders Lender with respect to Interest Options, Interest Periods and the amounts of Loans to which they are applicable shall be prima facie evidence of the correctness thereofbinding and conclusive, absent manifest error. Interest on the Loans shall be calculated at the Base Rate or a Eurosterling Rate with a one-month Interest Period, as the case may be, except where it is expressly provided pursuant to this Agreement that a Eurodollar Euro Rate or the Past Due Rate (including a different Eurosterling Rate) is to apply. Interest on the amount of each advance against the Notes a Note shall be computed on the amount of that advance and from the date it is made. Notwithstanding anything in this Agreement to the contrary, for the full term of the Notes a Note the interest rate produced by the aggregate of all sums paid or agreed to be paid to the holders holder of the Notes such Note for the use, forbearance or detention of the debt evidenced thereby (including all interest on the Notes at the Stated Rate plus the Additional Interest) shall not exceed the Ceiling Highest Lawful Rate.