Common use of Determination of Rate Clause in Contracts

Determination of Rate. Each change in the rate of interest for any Advance shall become effective, without prior notice to Borrower, automatically as of the opening of business of Lender on the date of said change. Lender shall promptly notify Borrower of the interest rate applicable to LIBOR Advances upon determination of such interest rate. The determination of the LIBOR Rate by Lender shall be conclusive in the absence of manifest error. At any time that Prime Rate Advances are outstanding, Lender shall notify Borrower of any change in Lender’s Prime Rate promptly following the public announcement of such change.

Determination of Rate. Each change in the rate of interest for any Advance Borrowing shall become effective, without prior notice to Borrower, automatically as of the opening of business of Lender on the date of said change. Lender shall promptly notify Borrower of the interest rate applicable to any Interest Period for LIBOR Advances upon determination of such interest rate. The determination of the LIBOR Rate by Lender shall be conclusive in the absence of manifest error. At any time that Prime Rate Advances are outstanding, Lender shall notify Borrower of any change in Lender’s Prime Rate promptly following the public announcement of such change.

Determination of Rate. Each change in the rate of interest for any Advance shall become effective, without prior notice to Borrower, automatically as of the opening of business of Lender on the date of said change. Lender shall promptly notify Borrower of the interest rate applicable to any Interest Period for LIBOR Advances upon determination of such interest rate. The determination of the LIBOR Rate by Lender shall be conclusive in the absence of manifest error. At any time that Prime Rate Advances are outstanding, Lender shall notify Borrower of any change in Lender’s Prime Rate promptly following the public announcement of such change.

Determination of Rate. Each change in the rate of interest for any Advance Borrowing shall become effective, without prior notice to Borrower, automatically as of the opening of business of Lender on the date of said change. Lender shall promptly notify Borrower of the interest rate applicable to LIBOR Advances upon determination of such interest rate. The determination of the LIBOR Rate by Lender shall be conclusive in the absence of manifest error. At any time that Prime Rate Advances are outstanding, Lender shall notify Borrower of any change in Lender’s Prime Rate promptly following the public announcement of such change.