CAYMAN RATE. The election of Cayman Rates shall be subject to the following terms and requirements: (a) The interest period during which the Cayman Rate will be in effect will be no shorter than 30 days and no longer than one year. The last day of the interest period will be determined by the Bank using the practices of the offshore dollar inter-bank market. (b) Each Cayman Rate Portion will be for an amount not less than Five Hundred Thousand Dollars ($500,000). (c) The Borrower may not elect a Cayman Rate with respect to any principal amount which is scheduled to be repaid before the last day of the applicable interest period.
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Samples: Business Loan Agreement (Impco Technologies Inc), Business Loan Agreement (Abm Industries Inc /De/), Business Loan Agreement (Impco Technologies Inc)
CAYMAN RATE. The election of Cayman Rates shall be subject to the following terms and requirements:
(a) The interest period during which the Cayman Rate will be in effect will be no shorter than 30 days and no longer than one yearone, two, three or six months. The last day of the interest period will be determined by the Bank using the practices of the offshore dollar inter-bank market.
(b) Each Cayman Rate Portion will be for an amount not less than Five Hundred Thousand Dollars ($500,000).
(c) The Borrower may not elect a Cayman Rate with respect to any principal amount which is scheduled to be repaid before the last day of the applicable interest period.. -------------------------------------------------------------------------------- -3-
Appears in 1 contract
Samples: Business Loan Agreement (Arterial Vascular Engineering Inc)
CAYMAN RATE. The election of Cayman Rates shall be subject to the following terms and requirements:
(a) The interest period during which the Cayman Rate will be in effect will be no shorter than 30 days and no longer than one year. The last day of the interest period will be determined by the Bank using the practices of the offshore dollar inter-bank market.
(b) Each Cayman Rate Portion will be for an amount not less than Five Hundred Thousand Dollars ($500,000).
(c) The Borrower may not elect a Cayman Rate with respect to any principal amount which is scheduled to be repaid before the last day of the applicable interest period.interest
Appears in 1 contract
