Common use of Interest Options Clause in Contracts

Interest Options. Except as specifically otherwise provided, Borrowings bear interest at an annual rate equal to the lesser of (a) the ABR plus the Applicable Margin or LIBOR plus the Applicable Margin (in each case as designated or deemed designated by Borrower and, in the case of LIBOR Rate Borrowings, for the Interest Period designated by Borrower), as the case may be, and (b) the Maximum Rate. Each change in the ABR and Maximum Rate is effective, without notice to Borrower or any other Person, upon the effective date of change.

Interest Options. (a) Except as specifically otherwise provided, Borrowings bear interest at an annual rate equal to the lesser of (ai) the ABR plus the Applicable Margin or the LIBOR Rate plus the Applicable Margin (in each case as designated or deemed designated by Borrower and, in the case of LIBOR Rate Borrowings, for the Interest Period designated by Borrower), as the case may be, and (bii) the Maximum Rate. Each change in the ABR and Maximum Rate is effective, without notice to Borrower or any other Person, upon the effective date of change.

Interest Options. Except as specifically otherwise provided, Borrowings shall bear interest at an annual rate equal to the lesser of (a) the ABR Base Rate plus the Applicable Margin or Margin, or, except for Swing Line Loans, the LIBOR Rate plus the Applicable Margin (in each case as designated or deemed designated by Borrower and, in the case of LIBOR Rate Borrowings, for the Interest Period designated by Borrower), as the case may be, and (b) the Maximum Rate. Each change in the ABR Base Rate and Maximum Rate is effective, without notice to Borrower or any other Person, upon the effective date of such change.