Common use of RATE SELECTION Clause in Contracts

RATE SELECTION. Borrower shall select and change its selection of the interest rate as among the Bank Offered Rate, LIBOR, the Federal Funds Rate and the Prime-Based Rate, as applicable, to apply to at least $500,000 and in integral multiples of $100,000 thereafter of any Loan or portion thereof, subject tot he requirements herein stated: (a) At the time any Loan is made; (b) At the expiration of a particular Bank Offered Rate or LIBOR Interest Period selected for the outstanding principal balance of any Loan or portion of any Loan currently bearing interest at the Bank Offered Rate or LIBOR; and (c) At any time for the outstanding principal balance of any Loan or portion thereof currently bearing interest at the Prime- Based Rate or the Federal Funds Rate.

RATE SELECTION. Borrower shall select and change its selection of the interest rate as among the Bank Offered Rate, LIBOR, the Federal Funds Rate and the Prime-Based Rate, as applicable, to apply to at least $500,000 100,000 and in integral multiples of $100,000 thereafter of any Loan or portion thereof, subject tot he to the requirements herein stated: (a) At the time any Loan is made; (b) At the expiration of a particular Bank Offered Rate or LIBOR Interest Period selected for the outstanding principal balance of any Loan or portion of any Loan currently bearing interest at the Bank Offered Rate or LIBORRate; and (c) At any time for the outstanding principal balance of any Loan or portion thereof currently bearing interest at the Prime- Prime-Based Rate or the Federal Funds Rate.