Example ContractsClausescomputation of interest and fees; retroactive adjustments of applicable rateVariants
Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate
Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate contract clause examples

Selection of Interest Rate Options. Subject to the provisions herein regarding Interest Periods and the prior notice required for the selection of a Term SOFR interest rate, # at any time any portion of this Note bears interest determined in relation to Term SOFR for an Interest Period, # it may be continued by [[Organization A:Organization]] at the end of the Interest Period applicable thereto so that all or a portion thereof bears interest determined in relation to Term SOFR for a new Interest Period designated by [[Organization A:Organization]] or # [[Organization A:Organization]] may convert all or a portion thereof so that it bears interest determined in relation to Daily Simple SOFR, # at any time any portion of this Note bears interest determined in relation to Daily Simple SOFR, [[Organization A:Organization]] may convert all or a portion thereof so that it bears interest determined in relation to Term SOFR for an Interest Period designated by [[Organization A:Organization]], and # at the time an advance is made hereunder, [[Organization A:Organization]] may choose to have all or a portion thereof bear interest determined in relation to Daily Simple SOFR or to Term SOFR for an Interest Period designated by [[Organization A:Organization]].

to Daily Simple SOFR, then any outstanding principal balance of this Note bearing interest determined in relation to Daily Simple SOFR shall bear interest # pursuant to the Term SOFR option herein (if selected by [[Organization A:Organization]] and to the extent such option is available) or # otherwise, at a fluctuating rate per annum determined by [[Organization B:Organization]] to be equal to the Prime Rate in effect from time to time (computed on the basis of a 360-day year, actual days elapsed), from the date of such Inability Determination or such Illegality Determination until [[Organization B:Organization]] revokes such Inability Determination or notifies [[Organization A:Organization]] that the circumstances giving rise to such Illegality Determination no longer exist, as applicable. If the foregoing Inability Determination or Illegality Determination relates to Term SOFR for any Interest Period, then any outstanding principal balance of this Note bearing interest determined in relation to Term SOFR for any affected Interest Period shall bear interest # pursuant to the Daily Simple SOFR option herein (if selected by [[Organization A:Organization]] and to the extent such option is available) or # otherwise, at a fluctuating rate per annum determined by [[Organization B:Organization]] to be the Prime Rate in effect from time to time (computed on the basis of a 360-day year, actual days elapsed), from the date of such Inability Determination or such Illegality Determination until [[Organization B:Organization]] revokes such Inability Determination or notifies [[Organization A:Organization]] that the circumstances giving rise to such Illegality Determination no longer exist, as applicable; provided, however, that, with respect to any outstanding principal balance of this Note bearing interest determined in relation to Term SOFR for any affected Interest Period, no such determination of interest shall take effect during any applicable Interest Period as a result of an Inability Determination. When interest is determined in relation to the Prime Rate, each change in the rate of interest hereunder shall become effective on the date each Prime Rate change is announced within [[Organization B:Organization]]. Notwithstanding any of the foregoing to the contrary, if a Benchmark Replacement is subsequently determined in accordance with applicable Benchmark Replacement Provisions, that Benchmark Replacement, plus any applicable margin, will then supersede the foregoing with respect to the replaced Benchmark.

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