Example ContractsClausesInterest Rate Option
Interest Rate Option
Interest Rate Option contract clause examples

Interest on this Note shall commence accruing on the Issuance Date, shall accrue daily at the Interest Rate on the outstanding Principal amount from time to time, shall be computed on the basis of a 360-day year and twelve 30-day months and shall be payable in cash to the Holder on the Maturity Date unless earlier converted pursuant to Section 3.

Interest Rate. From and following the Closing Date, depending upon Borrower’s election from time to time, subject to the terms hereof, to have portions of the Loans accrue interest determined by reference to the Alternate Base Rate or the LIBOR. The Loans and the other Obligations shall bear interest at the applicable rates set forth below:

Interest Rate. The per annum interest rate to be applied to the unpaid principal balance of this Note will be 150 basis points (1.50%) over the Screen Rate (as defined below); provided, that in no event shall the applicable rate of interest under this Note be less than 1.50% per annum (the “Floor Rate”); and, provided further, that Lender may waive or reinstate the Floor Rate as to all or any part of the indebtedness evidenced by this Note from time to time at Lender’s sole discretion and in no event shall the applicable rate of interest under this Note exceed the maximum rate allowed by law.

Interest Rate. Subject to Section 3.1(b), all Base Rate Loans shall accrue interest at the Base Rate. Subject to Section 3.1(b), all Eurodollar Loans shall accrue interest at the Adjusted Eurodollar Rate.

Interest Rate. The unpaid balance of this Note shall bear interest at the rate of 8% per annum, simple interest. Interest shall be calculated on a 365-day year and the actual number of days in each month.

The Borrower promises to pay interest on the unpaid principal amount hereof from the date hereof until such principal amount is paid in full at a per annum rate of interest (the “Interest Rate”) that equals the sum of # the Index (as hereinafter defined), plus # 2.00% (the “Margin”).

Interest Rate. Interest on the outstanding and unpaid principal balance hereof shall be computed at a per annum rate equal to the lesser of # a rate equal to the Prime Rate or # the highest rate permitted by applicable law, but in no event shall interest contracted for, charged or received hereunder plus any other charges in connection herewith which constitute interest exceed the maximum interest permitted by applicable law, said rate to be effective prior to maturity (however such maturity is brought about). The term "Prime Rate," as used herein, shall mean the maximum "Latest" "U.S." prime rate of interest per annum published from time to time in the Money Rates section of The Wall Street Journal (US Edition) or in any successor publication to The Wall Street Journal; provided, however, in no event shall the Prime Rate be less than 3.50%. Borrower understands that the Prime Rate may not be the best, lowest, or most favored rate of Lender or The Wall Street Journal, and any representation or warranty in that regard is expressly disclaimed by Lender. Borrower acknowledges that # if more than one U.S. prime rate is published at any time by The Wall Street Journal, the highest of such prime rates shall constitute the Prime Rate hereunder, and # if at any time The Wall Street Journal ceases to publish a U.S. prime rate, Lender shall have the right to select a substitute rate that Lender determines, in the exercise of its reasonable commercial discretion, to be comparable to such prime rate, and the substituted rate as so selected, upon the sending of written notice thereof to Borrower, shall constitute the Prime Rate hereunder. Upon each increase or decrease hereafter in the Prime Rate, the rate of interest upon the unpaid principal balance hereof shall be increased or decreased by the same amount as the increase or decrease in the Prime Rate, such increase or decrease to become effective as of the day of each such change in the Prime Rate and without notice to Borrower or any other person.

Interest Rate. Subject to [Section 2.4(b)], the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the greater of # one and one-quarter of one percent (1.25%) above the Prime Rate and # six percent (6.0%), which interest, in each case, shall be payable monthly in accordance with [Section 2.5(d)] below.

Interest Rate. The Advances may from time to time be # a LIBOR Rate Advance, # a Base Rate Advance or # a combination thereof, as determined by the Borrower and notified to Bank in accordance with the term of this Agreement. Each Advance that is a LIBOR Rate Advance shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the LIBOR Rate for such Interest Period plus the applicable Spread. Each Loan that is a Base Rate Loan shall bear interest at a rate per annum equal to the Base Rate plus the applicable Spread. Interest shall be payable in arrears on each Interest Payment Date; provided that interest accruing pursuant to paragraph # below shall be payable on demand. Each determination of an interest rate by Bank pursuant to any provision of this Agreement shall be conclusive and binding on the Borrower in the absence of manifest error.

Subject to the terms and conditions set forth below, the Loans shall bear interest at the per annum rate of interest set forth in [subsection (a), (b) or (c)])])] below, payable as set forth below:

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