Common use of Options Available Clause in Contracts

Options Available. The outstanding principal balance of the Canadian Dollar Notes shall bear interest at the Canadian Prime Rate and the outstanding principal balance of the other Notes shall bear interest at either the U.S. Alternate Base Rate, in the case of Notes issued by the U.S. Borrower, or the Canadian Alternate Base Rate, in the case of Notes issued by the Canadian Borrower; provided, that (i) all past due amounts, both principal and accrued interest, shall bear interest at the Past Due Rate, and (ii) subject to the provisions hereof, each Borrower shall have the option of having all or any portion of the principal balances of its Notes (other than the Canadian Dollar Notes) from time to time outstanding bear interest at a Eurodollar Rate. The records of the Agents and each of the Lenders with respect to Interest Options, Interest Periods and the amounts of the Loans to which they are applicable shall be binding and conclusive, absent manifest error. 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 Canadian Dollar Revolving Notes shall bear interest at the Canadian Prime Rate plus the applicable Margin Percentage and the outstanding principal balance of the other Notes shall bear interest at either the U.S. Alternate applicable Base Rate, in the case of Notes issued by the U.S. Borrower, or the Canadian Alternate Base Rate, in the case of Notes issued by the Canadian Borrower; provided, that (i1) all past due amounts, both principal and accrued interest, shall bear interest at the Past Due Rate, and (ii2) subject to the provisions hereof, each Borrower shall have the option of having all or any portion of the principal balances of its Notes (other than the Canadian Dollar Revolving Notes) from time to time outstanding bear interest at a Eurodollar Rate. The records of the Agents and each of the Lenders with respect to Interest Options, Interest Periods and the amounts of the Loans to which they are applicable shall be binding and conclusive, absent manifest error. 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 Canadian Dollar Notes shall bear interest at the Canadian Prime Rate plus the applicable Margin Percentage from time to time in effect and the outstanding principal balance of the other Notes shall bear interest at either the U.S. Alternate applicable Base Rate, in the case of Notes issued by the U.S. Borrower, or the Canadian Alternate Base Rate, in the case of Notes issued by the Canadian Borrower; providedPROVIDED, that (i1) all past due amounts, both principal and accrued interest, shall bear interest at the Past Due Rate, and (ii2) subject to the provisions hereof, each Borrower shall have the option of having all or any portion of the principal balances of its Notes (other than the Canadian Dollar Notes) from time to time outstanding bear interest at a Eurodollar Rate. The records of the Agents and each of the Lenders with respect to Interest Options, Interest Periods and the amounts of the Loans to which they are applicable shall be binding and conclusive, absent manifest error. 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.