Common use of Interest rate option Clause in Contracts

Interest rate option. If the applicable form of a notice of borrowing delivered by the Trustee under this Section 11.2 permits the selection of an interest rate option in respect of an Advance, the Trustee shall select such available interest rate option as has been specified to the Trustee in advance in writing by the Issuer or, in the absence of such specification, such available interest rate option as the Trustee shall, in its sole discretion, determine to select.

Interest rate option. If the applicable form of a notice of borrowing delivered by the Trustee under this Section 11.2 13.2 permits the selection of an interest rate option in respect of an a Scheduled Amortization Line of Credit Advance, the Trustee shall select such available interest rate option as has been specified to the Trustee in advance in writing by the Issuer or, in the absence of such specification, such available interest rate option as the Trustee shall, in its sole discretion, determine to select.