Common use of Repayment Options Clause in Contracts

Repayment Options. At the time of each Advance under an EquipmentLine. Borrower shall choose between the following two interest rate/loan repayment options, or in lieu of an Advance, may choose an Equipment Lease. In each instance, the amount available under this Credit shall be reduced by the amount of the Advance or Equipment Lease. If this credit is granted under a Capital Access Program, then the lease option does not apply.

Repayment Options. At the time of each Advance under an EquipmentLine. Borrower shall choose between the following two interest rate/loan repayment options, or in lieu of an Advance, may choose an Equipment Lease. In each instance, the amount available under this Credit shall be reduced by the amount of the Advance or Equipment Lease. If this credit is granted under a Capital Access Program, then the lease option does not apply.