Common use of Advance Term and Interest Rates Clause in Contracts

Advance Term and Interest Rates. At the time Borrower requests an Advance, Borrower shall include in the Advance request the term of the requested Advance and which of the following interest rate options Borrower elects with respect to the Advance (the "Applicable Interest Rate"). Under no circumstances may the requested Advance term extend beyond the Maturity Date. If no term or interest rate option is specified by the Borrower, or if the amount of the requested Advance is less than $100,000, the Advance involved shall bear interest at the Bank's Prime Rate of interest minus two hundred (200) basis points. 2

Advance Term and Interest Rates. At the time Borrower requests an Advance, Borrower shall include in the Advance request the term of the requested Advance and which of the following interest rate options Borrower elects with respect to the Advance (the "Applicable Interest Rate"). Under no circumstances may the requested Advance term extend beyond the Maturity Date. If no term or interest rate option is specified by the Borrower, or if the amount of the requested Advance is less than $100,000, the Advance involved shall bear interest at the Bank's Prime Rate of interest minus two hundred (200) basis points. 2.