Line of Credit Optional Interest. Instead of the Regular Line of Credit Interest Rate, Borrower may elect to have up to five (5) advances on the outstanding principal balance of the Line of Credit (each a “Line of Credit LIBO Rate Portion”) during the Line of Credit Availability Period bear interest at the LIBO Rate, as defined below, plus two and one-half percent (L+2.50%), but in no event shall interest accrue at less than four percent (4.00%) per annum (the “Optional Line of Credit Interest Rate”) during an interest rate period designated by Borrower (the “Line of Credit Applicable Interest Period”).
Appears in 6 contracts
Samples: Fourth Loan Modification Agreement (Icon Income Fund Nine LLC), Fourth Loan Modification Agreement (Icon Income Fund Ten LLC), Fourth Loan Modification Agreement (ICON Equipment & Corporate Infrastructure Fund Fourteen, L.P.)
