Common use of Optional Interest Rate Clause in Contracts

Optional Interest Rate. Instead of the interest rate based on the rate stated in the paragraph entitled “Interest Rate” above, the Borrower may elect the optional interest rates listed below for this Facility No. 1 during interest periods agreed to by the Bank and the Borrower. In no event shall the optional interest rate exceed the Maximum Rate. The optional interest rates shall be subject to the terms and conditions described later in this Agreement. Any principal amount bearing interest at an optional rate under this Agreement is referred to as a “Portion.” The following optional interest rate is available: (a) The LIBOR Rate plus 2.25 percentage points.

Optional Interest Rate. Instead of the interest rate based on the rate stated in the paragraph entitled “Interest BBA LIBOR Daily Floating Rate” above, the Borrower may elect the optional interest rates rate listed below for this Facility No. 1 during interest periods agreed designated pursuant to by the Bank and the Borrower. In no event shall the optional interest rate exceed the Maximum RateSection 2.2(a) below. The optional interest rates rate shall be subject to the terms and conditions described later in this Agreement. Any principal amount bearing interest at an optional rate under this Agreement is referred to as a “Portion.,” and each interest period designated pursuant to Section 2.2(a) for such Portion is referred to as an "Interest Period". The following optional interest rate is available: (a) The the LIBOR Rate plus 2.25 percentage 250 basis points.