Interest Option. Subject to the provisions hereof, Borrower shall have --------------- the option (an "Interest Option") of having designated portions of the unpaid --------------- principal balance of this Amended Note bear interest at a rate based upon the Adjusted LIBOR Rate or Prime Rate as provided in paragraph 3 hereof, provided, however, that the selection of the Adjusted LIBOR Rate for a particular Interest Period shall not be for less than $100,000.00 of unpaid principal or an integral multiple thereof. The Interest Option shall be exercised in the manner provided below:
Appears in 1 contract
Sources: Term Note (Amx Corp /Tx/)
Interest Option. Subject to the provisions hereof, Borrower shall have --------------- the option (an "Interest Option") of having designated portions of the unpaid --------------- principal balance of this Amended Note bear interest at a rate based upon the Adjusted LIBOR Rate or Adjusted Prime Rate as provided in paragraph 3 4 hereof, ; provided, however, that the selection of the Adjusted LIBOR Rate for a particular Interest Period shall not be for less than $100,000.00 500,000.00 of unpaid principal or an integral multiple thereofand must be in increments of $100,000.00 for any LIBOR Balance above $500,000.00. The Each Interest Option shall be exercised in the manner provided below:
Appears in 1 contract
Sources: Loan and Security Agreement (White Electronic Designs Corp)