Common use of Floating Interest Rate Clause in Contracts

Floating Interest Rate. (a) Borrower acknowledges, agrees and understands that the floating rate for the Loan has been set at a spread to LIBOR that is below the rate that would otherwise be available to Borrower and that the fixed rate for the Loan will be slightly higher as a result. (b) Borrower shall apply such accounting treatment to the Loan as it deems appropriate, after discussions with its independent outside auditors. Borrower shall make such disclosure of the Loan as it deems appropriate, after discussions with and with the advice of its outside counsel.