Common use of Floating Rate Borrowing Clause in Contracts

Floating Rate Borrowing. Except as provided in Section 4 below, this Note shall bear interest at the rate per annum equal to the Floating Rate and, therefore, the initial rate of interest as of the date hereof, expressed in simple interest terms, is____% per annum. If at any time or from time to time the Floating Rate increases or decreases, then the rate of interest hereunder shall be correspondingly increased or decreased effective on the date of which such increase or decrease of such Floating Rate takes effect.

Floating Rate Borrowing. Except as provided in Section 4 below, this Note shall bear interest at the rate per annum equal to the Floating Rate and, therefore, the initial rate of interest as of the date hereof, expressed in simple interest terms, is____% is 8.25% per annum. If at any time or from time to time the Floating Rate increases or decreases, then the rate of interest hereunder shall be correspondingly increased or decreased effective on the date of which such increase or decrease of such Floating Rate takes effect.

Floating Rate Borrowing. Except as provided in Section 4 below, this Note shall bear interest at the rate per annum equal to the Floating Rate and, therefore, the initial rate of interest as of the date hereof, expressed in simple interest terms, is____% is 8.618% per annum. If at any time or from time to time the Floating Rate increases or decreases, then the rate of interest hereunder shall be correspondingly increased or decreased effective on the date of which such increase or decrease of such Floating Rate takes effect.