Common use of Effect of Election Clause in Contracts

Effect of Election. Interest shall accrue from and including the first day of each INTEREST PERIOD selected by the BORROWERS to (but not including) the last day of such INTEREST PERIOD at the ADJUSTED LIBOR RATE determined as applicable to such INTEREST PERIOD upon the amount of the unpaid principal balance of the LOAN identified by the BORROWERS in the BORROWERS’ written election.

Effect of Election. Interest shall accrue from and including the first day of each INTEREST PERIOD Interest Period selected by the BORROWERS Borrower to (but not including) the last day of such INTEREST PERIOD Interest Period at the ADJUSTED Adjusted LIBOR RATE Rate determined as applicable to such INTEREST PERIOD Interest Period upon the amount of the unpaid principal balance balances of the LOAN Loans identified by the BORROWERS Borrower in the BORROWERS’ Borrower’s written election.

Effect of Election. Interest shall accrue from and including the first day of each INTEREST PERIOD selected by the BORROWERS to (but not including) the last day of such INTEREST PERIOD at the ADJUSTED LIBOR RATE determined as applicable to such INTEREST PERIOD upon the amount of the unpaid principal balance balances of the LOAN REVOLVING LOANS identified by the BORROWERS in the BORROWERS’ written election.

Effect of Election. Interest shall accrue from and including the first day of each INTEREST PERIOD selected by the BORROWERS BORROWER to (but not including) the last day of such INTEREST PERIOD at the ADJUSTED LIBOR RATE determined as applicable to such INTEREST PERIOD upon the amount of the unpaid principal balance balances of the LOAN LOANS identified by the BORROWERS BORROWER in the BORROWERS’ BORROWER’S written election.