Common use of Election of Interest Rates and Currencies Clause in Contracts

Election of Interest Rates and Currencies. Each Advance shall be the Type of Advance specified in the applicable Borrowing Notice and shall bear interest at the rate applicable to such Type of Advance, determined in accordance with the provisions of this Agreement, until: (a) in the case of a Libor Advance, the end of the initial Interest Period applicable thereto as specified in the applicable Borrowing Notice; or (b) in the case of a Prime Rate Advance or Base Rate Advance, the date on which such Advance is repaid in full.

Election of Interest Rates and Currencies. Each Advance shall be the Type of Advance specified in the applicable Borrowing Notice and shall bear interest at the rate applicable to such Type of Advance, determined in accordance with the provisions of this Agreement, until: (a) in the case of a Libor LIBOR Advance, the end of the initial Interest Period applicable thereto as specified in the applicable Borrowing Notice; or (b) in the case of a Prime Rate Advance, NY Prime Rate Advance or Base Rate Advance, the date on which such Advance is repaid in full.

Election of Interest Rates and Currencies. Each Advance shall be the Type of Advance specified in the applicable Borrowing Notice and shall bear interest at the rate applicable to such Type of Advance, determined in accordance with the provisions of this Agreement, until: (a) in the case of a Libor Term SOFR Advance, the end of the initial Interest Period applicable thereto as specified in the applicable Borrowing Notice; or (b) in the case of a Prime Rate Advance, NY Prime Rate Advance, US Base Rate Advance or Base Rate Daily Simple SOFR Advance, the date on which such Advance is repaid in full.