Common use of The Note and Interest Clause in Contracts

The Note and Interest. The Revolving Credit Loan shall be evidenced by the Note, a copy of which is attached hereto as Exhibit C. The unpaid principal balances of the Revolving Credit Loan shall bear interest from the Closing Date on disbursed and unpaid principal balances at the LIBOR Rate. The first selection of the one (1) month, two (2) months, three (3) months, or six (6) months LIBOR interest period shall be made by the Borrower on or prior to the date of the Note and each selection thereafter shall be made at least twenty-four (24) hours prior to the end of the then applicable interest rate period. The Borrower may not select a rate period which extends beyond the Maturity Date. Interest shall be payable monthly on the fifteenth (15th) day of each month after the Closing Date, commencing October 15, 2003, with the final installment of interest, together with the entire outstanding principal balance of the Revolving Credit Loan, being due and payable on the Maturity Date.

The Note and Interest. The Revolving Credit Loan shall be evidenced by the Note, a copy of which is attached hereto as Exhibit C. The unpaid principal balances of the Revolving Credit Loan shall bear interest from the Closing Date on disbursed and unpaid principal balances at the LIBOR Rate. The first selection of the one (1) month, two (2) months, three (3) months, or six (6) months LIBOR interest period shall be made by the Borrower on or prior to the date of the Note and each selection thereafter shall be made at least twenty-four (24) hours prior to the end of the then applicable interest rate period. The Borrower may not select a rate period which extends beyond the Maturity Date. Interest shall be payable monthly on the fifteenth (15th) day of each month after the Closing Date, commencing October February 15, 20031998, with the final installment of interest, together with the entire outstanding principal balance of the Revolving Credit Loan, being due and payable on the Maturity Date.