Common use of OFFSHORE RATE Clause in Contracts

OFFSHORE RATE. The Borrower may elect to have all or portions of the principal balance of the line of credit bear interest at the Offshore Rate plus one and one-half (1.50) percentage points. Designation of an Offshore Rate portion is subject to the following requirements: (a) The interest period during which the Offshore Rate will be no shorter than 30 days and no longer than one year. The last day of the interest period will be determined by the Bank using the practices of the offshore dollar inter-bank market. (b) Each Offshore Rate portion will be for an amount not less than Five Hundred Thousand Dollars ($500,000).

OFFSHORE RATE. The Borrower may elect to have all or portions of the principal balance of the line of credit bear interest at the Offshore Rate plus one and one-half (1.50) 1.85 percentage points. Designation of an Offshore Rate portion is subject to the following requirements: (a) The interest period during which the Offshore Rate will be in effect will be no shorter than 30 days and no longer than one year360 days. The last day of the interest period will be determined by the Bank using the practices of the offshore dollar inter-bank market. (b) Each Offshore Rate portion will be for an amount not less than Five Hundred Thousand Dollars ($500,000).

OFFSHORE RATE. The Borrower may elect to have all or portions of the principal balance of the line of credit Note bear interest at the Offshore Rate plus one and one-half (1.50) 2.00 percentage points. Designation of an Offshore Rate portion is subject to the following requirements: (a) The interest period during which the Offshore Rate will be in effect will be no shorter than 30 days and no longer than one year. The last day of the interest period will be determined by the Bank using the practices of the offshore dollar inter-bank market. (b) Each Offshore Rate portion will be for an amount not less than Five One Hundred Thousand Dollars ($500,000100,000).

OFFSHORE RATE. The Borrower may elect to have all or portions of the principal balance of the line of credit Term Loans bear interest at the Offshore Rate plus one and one-half (1.50) percentage pointsthe Applicable Amount. Designation of an Offshore Rate portion is subject to the following requirements: (a) The interest period during which the Offshore Rate will be in effect will be no shorter than 30 days and no longer than one year. The last day of the interest period will be determined by the Bank using the practices of the offshore dollar inter-bank market. (b) Each Offshore Rate portion will be for an amount not less than Five Hundred Thousand Dollars ($500,000).

OFFSHORE RATE. The Borrower may elect to have all or portions of the principal balance of the line of credit or of the Term Loan (as defined below) bear interest at the Offshore Rate plus one and one-half (1.50) 1.50 percentage points. Designation of an Offshore Rate portion is subject to the following requirements: 2 (a) The interest period during which the Offshore Rate will be no shorter than 30 days and no longer than in effect will be one yearyear or less. The last day of the interest period will be determined by the Bank using the practices of the offshore dollar inter-bank market. (b) Each Offshore Rate portion will be for an amount not less than Five Hundred Thousand Dollars ($500,000).