Common use of Libor Option Clause in Contracts

Libor Option. At a fixed rate equal to “LIBOR” (as hereinafter defined) plus the Applicable LIBOR Margin per annum (as described in terms of basis points (“bps”) in the chart immediately set forth below). Under this option: (a) rates may be fixed for “Interest Periods” (as hereinafter defined) of 1, 2, 3, or 6 months, or 1 year, as selected by the Company; (b) the minimum amount that may be fixed at any one time shall be $2,000,000.00; and (c) rates may only be fixed on a “Banking Day” (as hereinafter defined) or, at the option of the Company, on 2 Banking Days’ prior notice. For purposes hereof: (i) ”LIBOR” shall mean the rate indicated by Telerate (rounded upward to the nearest thousandth) as having been quoted by the British Bankers Association at 11:00 a.m. London time on the date the Company elects to fix a rate under this option for the offering of U.S. dollar deposits in the London interbank market for the Interest Period designated by the Company; (ii) “Banking Day” shall mean a day on which CoBank is open for business, dealings in U.S. dollar deposits are being carried out in the London interbank market, and banks are open for business in New York City and London, England; and (iii) “Interest Period” shall mean a period commencing on the day the Company elects to fix a rate under this option (or, at the option of the Company, two Banking Days later) and ending on the numerically corresponding day in the next calendar month or the month that is 2, 3 or 6 months or 1 year thereafter, as the case may be; provided, however, that: (x) in the event such ending day is not a Banking Day, such period shall be extended to the next Banking Day unless such next Banking Day falls in the next calendar month, in which case it shall end on the preceding Banking Day; and (y) if there is no numerically corresponding day in the month, then such period shall end on the last Banking Day in the relevant month. One Month LIBOR 90bps Two Months LIBOR 90bps Three Months LIBOR 90bps Six Months LIBOR 90bps One Year LIBOR 90bps

Libor Option. At a fixed rate per annum equal to “LIBOR” (as hereinafter defined) plus the Applicable LIBOR Margin 1.75% per annum (as described in terms of basis points (the “bpsLIBOR Option”) in the chart immediately set forth below). Under this option: (a) option rates may be fixed fixed: (A) for “Interest Periods” (as hereinafter defined) of 1, 21,2, 3, or 6 6, and 9 months, or 1 year, as selected by the Company; (b) the minimum amount that provided, however, that: in no event may rates be fixed at any one time shall be for Interest Periods expiring after the Maturity Date; (B) on balances of $2,000,000.00100,000 or in increments of $100,000; and (cC) rates may only be fixed on a “Banking Day” (as hereinafter defined) or, at the option of the Company, on 2 3 Banking Days’ prior notice; and (D) on not more than five (5) separate balances at any one time. For purposes hereof: (ia) ”“LIBOR” shall mean the rate indicated by Telerate (rounded upward to the nearest thousandthsixteenth of a percentage point and adjusted for reserves required on “Eurocurrency Liabilities” (as hereinafter defined) for banks subject to “FRB Regulation D” (as having been hereinafter defined) or required by any other federal law or regulation) quoted by the British Bankers Association (“BBA”) at 11:00 a.m. London time on 2 Banking Days before the date commencement of the Company elects to fix a rate under this option Interest Period for the offering of U.S. dollar deposits in the London interbank market for the Interest Period designated by the Company, as published by Bloomberg or another major information vendor listed on BBA’s official website; (iib) “Banking Day” shall mean a day on which CoBank is open for business, dealings in U.S. dollar deposits are being carried out in the London interbank market, and banks are open for business in New York City and London, England; and (iiic) “Interest Period” shall mean a period commencing on the day the Company elects to fix a rate under date this option (or, at the option of the Company, two Banking Days later) is to take effect and ending on the numerically corresponding day in the next calendar month or the month that is 2, 3 3, 6, or 6 9 months or 1 year thereafter, as the case may be; provided, however, that: (xi) in the event such ending day is not a Banking Day, such period shall be extended to the next Banking Day unless such next Banking Day falls in the next calendar month, in which case it shall end on the preceding Banking Day; and (yii) if there is no numerically corresponding day in the month, then such period shall end on the last Banking Day in the relevant month. One Month LIBOR 90bps Two Months LIBOR 90bps Three Months LIBOR 90bps Six Months LIBOR 90bps One Year LIBOR 90bps; (d) “Eurocurrency Liabilities” shall have meaning as set forth in FRB Regulation D; and (e) “FRB Regulation D” shall mean Regulation D as promulgated by the Board of Governors of the Federal Reserve System, 12 CFR Part 204, as amended.

Libor Option. At a fixed rate equal to “"LIBOR” " (as hereinafter defined) plus the Applicable LIBOR Margin per annum (as described in terms of basis points (“bps”) in the chart immediately set forth below). Under this option: (a) rates may be fixed for “"Interest Periods” " (as hereinafter defined) of 1, 2, 3, or and 6 months, or 1 year, as selected by the Company; (b) the minimum amount that may be fixed at any one time shall be $2,000,000.00; and (c) rates may only be fixed on a “"Banking Day” " (as hereinafter defined) or, at the option of the Company, on 2 Banking Days’ prior notice. For purposes hereof: (i) ”"LIBOR” " shall mean the rate indicated by Telerate (rounded upward to the nearest thousandth) as having been quoted by the British Bankers Association at 11:00 a.m. London time on the date the Company elects to fix a rate under this option for the offering of U.S. dollar deposits in the London interbank market for the Interest Period designated by the Company; (ii) “"Banking Day” " shall mean a day on which CoBank is open for business, dealings in U.S. dollar deposits are being carried out in the London interbank market, and banks are open for business in New York City and London, England; and (iii) “"Interest Period” " shall mean a period commencing on the day the Company elects to fix a rate under this option (or, at the option of the Company, two Banking Days later) and ending on the numerically corresponding day in the next calendar month or the month that is 2, 3 or 6 months or 1 year thereafter, as the case may be; provided, however, that: (x) in the event such ending day is not a Banking Day, such period shall be extended to the next Banking Day unless such next Banking Day falls in the next calendar month, in which case it shall end on the preceding Banking Day; and (y) if there is no numerically corresponding day in the month, then such period shall end on the last Banking Day in the relevant month. One Month LIBOR 90bps Two Months LIBOR 90bps Three Months LIBOR 90bps Six Months LIBOR 90bps One Year LIBOR 90bps.

Libor Option. At As to any Portion or Portions of the Loan selected by the Borrower, interest shall accrue pursuant to this LIBOR option at a fixed annual interest rate (a "LIBOR Rate") equal to “LIBOR” the sum of LIBOR (as hereinafter defined) plus a margin (the "LIBOR Margin") equal to ---- the Applicable LIBOR Margin per annum (as described in terms of basis points subject to Subsection (“bps”) in the chart immediately set forth belowB)). Under this option: (a) rates , the interest rate on any Portion of the Loan, in minimum amounts of $100,000, may be fixed for “an Interest Periods” (as hereinafter defined) Period of 11 month, 22 months, 33 months, or 6 months, or 1 year, as selected by 9 months but not beyond the Company; (b) the minimum amount that may be fixed at any one time shall be $2,000,000.00; and (c) rates may only be fixed on a “Banking Day” (as hereinafter defined) or, at the option of the Company, on 2 Banking Days’ prior noticeMaturity Date. For purposes hereof: (i) ”The term "LIBOR” " shall mean the interest rate (rounded upwards, if necessary, to the next higher 1/100th of 1%) indicated by Telerate (rounded upward to the nearest thousandth) as having been quoted by the British Bankers Association at 11:00 a.m. a.m., London time time, on the date (which must be a Banking Day) the Company Borrower elects to fix a rate under this option LIBOR option, for the offering of U.S. dollar deposits in the London interbank market Interbank Market for the Interest Period designated selected by the Company; (ii) “Banking Day” shall mean a day on which CoBank is open for business, dealings in U.S. dollar deposits are being carried out in the London interbank market, and banks are open for business in New York City and London, England; and (iii) “Interest Period” Borrower. The term "month" or "months" shall mean a period commencing on two Banking Days after the day date the Company Borrower elects to fix a rate under this LIBOR option (or, at the option of the Company, two Banking Days later) and ending on the numerically corresponding day in the next calendar month or the month that is 2, 3 3, 6, or 6 9 months or 1 year thereafter, as the case may be; provided, however, that: -------- ------- that (xi) in the event such ending day date is not a Banking Day, such period shall be extended to the next Banking Day unless such next Banking Day falls in the next calendar month, in which case it such period shall end on the next preceding Banking Day; and (yii) if there is no numerically corresponding day in the ending month, then such period shall end on the last Banking Day in the relevant such month. One Month LIBOR 90bps Two Months LIBOR 90bps Three Months LIBOR 90bps Six Months LIBOR 90bps One Year LIBOR 90bps.

Libor Option. At a fixed rate equal to “LIBOR” (as hereinafter defined) plus the Applicable LIBOR Margin per annum (as described in terms of basis points (“bps”) in the chart immediately set forth below). Under this option: (a) rates may be fixed for “Interest Periods” (as hereinafter defined) of 1, 2, 3, 3 or 6 months, or 1 year, as selected by the Company; (b) the minimum amount that may be fixed at any one time shall be $2,000,000.00; and (c) rates may only be fixed on a “Banking Day” (as hereinafter defined) or, at the option of the Company, on 2 Banking Days’ prior notice. For purposes hereof: (i) ”“LIBOR” shall mean the rate indicated by Telerate (rounded upward to the nearest thousandth) as having been quoted by the British Bankers Association at 11:00 a.m. London time on the date the Company elects to fix a rate under this option for the offering of U.S. dollar deposits in the London interbank market for the Interest Period designated by the Company; (ii) “Banking Day” shall mean a day on which CoBank is open for business, dealings in U.S. dollar deposits are being carried out in the London interbank market, and banks are open for business in New York City and London, England; and (iii) “Interest Period” shall mean a period commencing on the day the Company elects to fix a rate under this option (or, at the option of the Company, two Banking Days later) and ending on the numerically corresponding day in the next calendar month or the month that is 2, 3 or 6 months or 1 year thereafter, as the case may be; provided, however, that: (x) in the event such ending day is not a Banking Day, such period shall be extended to the next Banking Day unless such next Banking Day falls in the next calendar month, in which case it shall end on the preceding Banking Day; and (y) if there is no numerically corresponding day in the month, then such period shall end on the last Banking Day in the relevant month. One Month LIBOR 90bps Two Months LIBOR 90bps Three Months LIBOR 90bps Six Months LIBOR 90bps One Year LIBOR 90bps

Libor Option. At a fixed rate equal to “"LIBOR” " (as hereinafter defined) plus the Applicable LIBOR Margin per annum (as described in terms of basis points (“"bps”") in the chart immediately set forth below). Under this option: (a) rates may be fixed for “"Interest Periods” " (as hereinafter defined) of 1, 2, 3, or and 6 months, or 1 year, as selected by the Company; (b) the minimum amount that may be fixed at any one time shall be $2,000,000.00; and (c) rates may only be fixed on a “"Banking Day” " (as hereinafter defined) or, at the option of the Company, on 2 Banking Days’ ' prior notice. For purposes hereof: (i) ”"LIBOR” " shall mean the rate indicated by Telerate (rounded upward to the nearest thousandth) as having been quoted by the British Bankers Association at 11:00 a.m. London time on the date the Company elects to fix a rate under this option for the offering of U.S. dollar deposits in the London interbank market for the Interest Period designated by the Company; (ii) “"Banking Day” " shall mean a day on which CoBank is open for business, dealings in U.S. dollar deposits are being carried out in the London interbank market, and banks are open for business in New York City and London, England; and (iii) “"Interest Period” " shall mean a period commencing on the day the Company elects to fix a rate under this option (or, at the option of the Company, two Banking Days later) and ending on the numerically corresponding day in the next calendar month or the month that is 2, 3 or 6 months or 1 year thereafter, as the case may be; provided, however, that: (x) in the event such ending day is not a Banking Day, such period shall be extended to the next Banking Day unless such next Banking Day falls in the next calendar month, in which case it shall end on the preceding Banking Day; and (y) if there is no numerically corresponding day in the month, then such period shall end on the last Banking Day in the relevant month. One Month LIBOR 90bps 90 bps Two Months LIBOR 90bps 90 bps Three Months LIBOR 90bps 90 bps Six Months LIBOR 90bps One Year LIBOR 90bps90 bps