Optional Rates. Each optional interest rate is a rate per year. Interest will be paid on the last day of each interest period, and on the first day of each month during the interest period. At the end of any interest period, the interest rate will revert to the rate based on the Prime Rate, unless the Borrower has designated another optional interest rate for the Portion. No Portion will be converted to a different interest rate during the applicable interest period. Upon the occurrence of an event of default under this Agreement, the Bank may terminate the availability of optional interest rates for interest periods commencing after the default occurs.
Optional Rates. Each optional interest rate is a rate per year. Interest will be paid on July 1, 2010, and then on the first day of each month thereafter until payment in full of any principal outstanding under this Agreement. No Portion will be converted to a different interest rate during the applicable interest period. Upon the occurrence of an Event of Default, the Bank may terminate the availability of optional interest rates for interest periods commencing after the Event of Default occurs. At the end of each interest period, the interest rate will revert to the rate stated in Section 1.4, unless the Borrower has designated another optional interest rate for the Portion.
Optional Rates. Each optional Interest rate is a rate per year. Interest will be paid on any principal amounts outstanding under the Facility No. 1 on October 31, 2012, and then on the same day of each month thereafter until payment in full of any principal outstanding under the Facility No. 1. No Portion will be converted to a different interest rate during the applicable Interest period. Upon the occurrence of an event of default under this Agreement, the Bank may terminate the availability of optional Interest rates for Interest periods commencing after the default occurs. At the end of each interest period, the Interest rate will revert to the rate stated in the paragraph(s) entitled “Interest Rate” above, unless the Borrower has designated another optional Interest rate for the Portion.
Optional Rates. Each optional interest rate is a rate per year. Interest will be paid on the last day of each interest period, and, if the interest period is longer than three months then on each three month anniversary during the interest period. At the end of any interest period, the interest rate will revert to the rate based on the Prime Rate, unless the Borrower has designated another optional interest rate for the Portion. No Portion will be converted to a different interest rate during the applicable interest period. Upon the occurrence and continuance of an Event of Default under this Agreement, the Bank may terminate the availability of optional interest rates for interest periods commencing after the default occurs.
Optional Rates. Instead of the interest rate based on the Bank's Prime Rate, the Borrower may elect the optional interest rates listed below during interest periods agreed to by the Bank and the Borrower. The optional interest rates shall be subject to the terms and conditions described later in this Agreement. Any principal amount bearing interest at an optional rate under this Agreement is referred to as a "Portion". Each optional interest rate is a rate per year. Interest will be paid on the last day of each interest period. At the end of any interest period, the interest rate will revert to the rate based on the Prime Rate, unless the Borrower has designated another optional interest rate for the Portion. No Portion will be converted to a different interest rate during the applicable interest period, although the Applicable Margin can be changed pursuant to Section 1.5. Upon the occurrence, and during the continuation, of an Event of Default under this Agreement, the Bank may terminate the availability of optional interest rates for interest periods commencing after the Event of Default occurs. The following optional interest rates are available:
(a) IBOR Rates.
Optional Rates. In addition to the interest rate specified in the Note, on the terms and subject to the conditions set forth below, Borrower will be able to select, from one of the following optional rates, an interest rate which will be applicable to a particular dollar increment of amounts outstanding, or to be disbursed, under the Note, during interest periods agreed to by Lender and Borrower. Any principal amount bearing interest at an optional rate is referred to as a "Portion":
(a) the LIBOR Rate plus 1.50 percentage points.
Optional Rates. Each optional interest rate is a rate per year. Interest will be paid on the last day of each interest period, and, if the interest period is longer than 30 days, then on the first day of each month during the interest period. At the end of any interest period, the interest rate will revert to the rate based on the Prime Rate, unless the Borrowers have designated another optional interest rate for the Portion. No Portion will be converted to a different interest rate during the applicable interest period. Upon the occurrence of an event of default under this Agreement, the Bank may terminate the availability of optional interest rates for interest periods commencing after the default occurs.
Optional Rates. Each optional interest rate is a rate per year. Interest will be paid on the last day of each interest period, and, if the interest period is longer than three months, then on the last day of each quarter during the interest period. At the end of any interest period, the interest rate will revert to the rate based on the Base Rate, unless the Borrower has designated another optional interest rate for the Portion. No Portion will be converted to a different interest rate during the applicable interest period. Upon the occurrence of an event of default under this Agreement, the Bank may terminate the availability of optional interest rates for interest periods commencing after the default occurs.
(a) The interest period during which the IBOR Rate will be in effect will be one, two, three or six months as determined by Borrower. The last day of the interest period will be determined by the Bank using the practices of the offshore dollar interbank market.
(b) Each IBOR Rate Portion will be for an amount not less than Five Hundred Thousand Dollars ($500,000.00), and integral multiples of One Hundred Thousand Dollars ($100,000.00) in excess thereof.
Optional Rates. For the purposes of ad-hoc requests; Sentech would like to get prices for the use of the following services on an ad-hoc basis during the term of this contract
Optional Rates. Each optional interest rate is a rate per year. Interest on the outstanding principal amount with respect to each Portion under this line of credit will be paid in arrears on each Interest Payment Date. "Interest Payment Date" means, with respect to each outstanding Portion, the last day of each Interest Period applicable to such Portion and the Expiration Date; provided, however, that if any Interest Period exceeds three months, the respective dates that fall every three months after the beginning of such Interest Period shall also be Interest Payment Dates. At the end of any Interest Period, the interest rate for the applicable Portion, to the extent not repaid, will revert to the rate specified in Section 1.4 hereof, unless the Borrower has designated another Interest Period pursuant to Section 2.2(a) during which the optional interest rate will apply for the Portion. No Portion will be converted to a different interest rate during the applicable Interest Period. Upon the occurrence of an Event of Default under this Agreement, the Bank may terminate the availability of optional interest rates for interest periods commencing after the Event of Default occurs.
