Common use of Base Rate Option Clause in Contracts

Base Rate Option. Unless Borrower requests and receives a LIBO Rate Loan pursuant to Subsection 5.1.2 hereof, the outstanding principal balance owing hereunder for 5-Year Advances (unless otherwise specified pursuant to Section 3.9, in the case of Overnight Advances) shall bear interest at the Base Rate (each a “Base Rate Loan”).

Base Rate Option. Unless Borrower requests and receives a LIBO Rate Loan pursuant to Subsection 5.1.2 hereof, the outstanding principal balance owing hereunder for 5-Year Advances (unless otherwise specified pursuant to Section 3.9, in the case of Overnight Advances) shall bear interest at the Base Rate (each a “Base Rate Loan”).

Base Rate Option. Unless Borrower requests and receives a LIBO Rate Loan pursuant to Subsection 5.1.2 hereof, the outstanding principal balance owing hereunder for 5364-Year Day Advances (unless otherwise specified pursuant to Section 3.9, in the case of Overnight Advances) shall bear interest at the Base Rate (each a “Base Rate Loan”).

Base Rate Option. Unless Borrower requests and receives a LIBO Rate Loan pursuant to Subsection 5.1.2 hereof, the outstanding principal balance owing hereunder for 5under the 364-Year Advances (unless otherwise specified pursuant to Section 3.9, in the case of Overnight Advances) Day Facility Notes shall bear interest at the Base Rate (each a “Base Rate Loan”).

Base Rate Option. Unless Borrower requests and receives a LIBO Rate Loan pursuant to Subsection 5.1.2 hereof, the outstanding principal balance owing hereunder for 53-Year Advances (unless otherwise specified pursuant to Section 3.9, in the case of Overnight Advances) shall bear interest at the Base Rate (each a “Base Rate Loan”).