Common use of Adjusted LIBOR Rate Option Clause in Contracts

Adjusted LIBOR Rate Option. Subject to the terms of this Section, interest may accrue at the election of the BORROWER for INTEREST PERIODS selected by the BORROWER, at the ADJUSTED LIBOR RATE on portions of the unpaid principal balances of the LOANS. Any LIBOR BORROWING or election for a LIBOR BORROWING pursuant to the provisions of this Section shall be subject to the following terms and conditions:

Adjusted LIBOR Rate Option. Subject to the terms of this Section, interest may accrue at the election of the BORROWER BORROWERS for INTEREST PERIODS selected by the BORROWERBORROWERS, at the ADJUSTED LIBOR RATE on portions of the unpaid principal balances balance of the LOANSLOAN. Any LIBOR BORROWING or election for a LIBOR BORROWING pursuant to the provisions of this Section shall be subject to the following terms and conditions:

Adjusted LIBOR Rate Option. Subject to the terms of this Section, interest may accrue accrue, at the election of the BORROWER for BORROWERS during INTEREST PERIODS selected by the BORROWER, at the ADJUSTED LIBOR RATE BORROWERS on portions of the unpaid outstanding principal balances of the LOANSLOAN for which such a rate election is not then in effect, at a rate equal to the ADJUSTED LIBOR RATE. Any LIBOR BORROWING or election for a LIBOR BORROWING pursuant to the provisions of this Section shall be subject to the following terms and conditions:

Adjusted LIBOR Rate Option. Subject to the terms of this Section, interest may accrue at the election of the BORROWER BORROWERS for INTEREST PERIODS selected by the BORROWERBORROWERS, at the ADJUSTED LIBOR RATE on portions of the unpaid principal balances of the REVOLVING LOANS. Any LIBOR BORROWING or election for a LIBOR BORROWING pursuant to the provisions of this Section shall be subject to the following terms and conditions: