At Expiration of Interest Periods. At least two (2) LIBOR Business Days prior to the termination of any Interest Period, Borrower shall give Bank an Interest Notice indicating the Interest Option to be applicable to the corresponding LIBOR Balance upon the expiration of such Interest Period. If the required Interest Notice shall not have been timely received by Bank prior to the expiration of the then-relevant Interest Period, Borrower shall be deemed to have selected a rate based upon the Adjusted Prime Rate to be applicable to such LIBOR Balance upon the expiration of such Interest Period and to have given Bank notice of such selection.
Appears in 1 contract
Samples: Loan and Security Agreement (White Electronic Designs Corp)
At Expiration of Interest Periods. At Unless otherwise agreed to by --------------------------------- Bank, at least two (2) LIBOR Business Days prior to the termination of any Interest Period, Borrower shall give Bank an Interest Notice indicating the Interest Option to be applicable to the corresponding LIBOR Balance upon the expiration of such Interest Period. If the required Interest Notice shall not have been timely received by Bank prior to the expiration of the then-relevant Interest Period, Borrower shall be deemed to have selected a rate based upon the Adjusted Prime Rate to be applicable to such LIBOR Balance upon the expiration of such Interest Period and to have given Bank notice of such selection.
Appears in 1 contract
Samples: Term Note (Amx Corp /Tx/)
At Expiration of Interest Periods. At Unless otherwise agreed to by Bank, at least two (2) LIBOR Business Days prior to the termination of any Interest Period, Borrower shall give Bank an Interest Notice indicating the Interest Option to be applicable to the corresponding LIBOR Balance upon the expiration of such Interest Period. If the required Interest Notice shall not have been timely received by Bank prior to the expiration of the then-relevant Interest Period, Borrower shall be deemed to have selected a rate based upon the Adjusted Prime Rate to be applicable to such LIBOR Balance upon the expiration of such Interest Period and to have given Bank notice of such selectionelection.
Appears in 1 contract
Samples: Amx Corp /Tx/
At Expiration of Interest Periods. At Unless otherwise agreed to by Bank, at least two (2) LIBOR Business Days prior to the termination of any Interest Period, Borrower shall give Bank an Interest Notice indicating the Interest Option to be applicable to the corresponding LIBOR Balance upon the expiration of such Interest Period. If the required Interest Notice shall not have been timely received by Bank prior to the expiration of the then-relevant Interest Period, Borrower shall be deemed to have selected a rate based upon the Adjusted Prime Rate to be applicable to such LIBOR Balance upon the expiration of such Interest Period and to have given Bank notice of such selection.
Appears in 1 contract
Samples: Term Note (Amx Corp /Tx/)
At Expiration of Interest Periods. At Unless otherwise agreed to by Bank, at least two (2) LIBOR Business Days prior to the termination of any Interest Period, Borrower shall give Bank an Interest Notice indicating the Interest Option to be applicable to the corresponding LIBOR Balance upon the expiration of such Interest Period. If the required Interest Notice shall not have been timely received by Bank prior to the expiration of the then-relevant Interest Period, Borrower shall be deemed to have selected a rate based upon the Adjusted Prime Base Rate to be applicable to such LIBOR Balance upon the expiration of such Interest Period and to have given Bank notice of such selection.
Appears in 1 contract