Common use of Options Available Clause in Contracts

Options Available. The outstanding principal balance of the Notes shall bear interest at the Adjusted Base Rate (the “Base Rate Option”); provided, that (a) all past due amounts, both principal and accrued interest, shall bear interest at the Past Due Rate, (b) the outstanding balance of the Swing Loan Note shall bear interest at the Adjusted Base Rate, (c) subject to the provisions hereof, Borrower shall have the option of having all or any portion of the principal balance of the Revolving Notes, other than the Swing Loan Note, from time to time outstanding bear interest at Adjusted LIBOR (the “LIBOR Option”), and (d) each Competitive Bid Loan shall bear interest at the Competitive Bid Rate applicable to such Competitive Bid Loan. The records 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 thereof. Interest on the Loans shall be calculated at the Adjusted Base Rate except where it is expressly provided pursuant to this Agreement that Adjusted LIBOR is to apply.

Options Available. The outstanding principal balance of the Notes shall bear interest at the Adjusted Base Rate (the “"Base Rate Option”"); provided, that (a) all past due amounts, both principal and accrued interest, shall bear interest at the Past Due Rate, (b) the outstanding balance of the Swing Loan Note shall bear interest at the Adjusted Base Rate, (c) subject to the provisions hereof, Borrower shall have the option of having all or any portion of the principal balance of the Revolving Notes, other than the Swing Loan Note, from time to time outstanding bear interest at Adjusted LIBOR (the “"LIBOR Option”"), and (d) each Competitive Bid Loan shall bear interest at the Competitive Bid Rate applicable to such Competitive Bid Loan. The records 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 thereof. Interest on the Loans shall be calculated at the Adjusted Base Rate except where it is expressly provided pursuant to this Agreement that Adjusted LIBOR is to apply.

Options Available. The outstanding principal balance of the Notes shall bear interest at the Adjusted Base Rate (the “Base Rate Option”)Rate; provided, that (a) all past due amounts, both principal and accrued interest, shall bear interest at the Past Due Rate, (b) the outstanding balance of the Swing Loan Note shall bear interest at the Adjusted Base RateRate less one and one-half percent (1.5%), (c) subject to the provisions hereof, Borrower shall have the option of having all or any portion of the principal balance of the Revolving Notes, other than the Swing Loan Note, from time to time outstanding bear interest at Adjusted LIBOR (the “LIBOR Option”)a Eurodollar Rate, and (d) each Competitive Bid Loan shall bear interest at the Competitive Bid Rate applicable to such Competitive Bid Loan. The records 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 thereof. Interest on the Loans shall be calculated at the Adjusted Base Rate except where it is expressly provided pursuant to this Agreement that Adjusted LIBOR a Eurodollar Rate is to apply.