Common use of Optional Rates Clause in Contracts

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 interest rate is a rate per year. Interest will be paid on any principal amounts outstanding under the Facility No. 1 on October December 31, 20122007, and then on the same last day of each month March, June, September and December, thereafter until payment in full of any principal outstanding under the Facility No. 1this Agreement. No Portion will be converted to a different interest rate during the applicable Interest interest period. Upon the occurrence of an event of default under this Agreement, the Bank may terminate the availability of optional Interest interest rates for Interest interest periods commencing after the default occurs. At the end of each interest period, the Interest interest rate will revert to the rate stated in the paragraph(s) entitled “Interest Rate” above, unless the Borrower has designated another optional Interest interest rate for the Portion.

Optional Rates. Each The optional Interest interest rate provided for in Paragraph 1.7 is a rate per year. Interest will be paid on any principal amounts outstanding under the Facility No. 1 on October 31, 2012first day of the first month following the commencement of the applicable interest period, and then on the same day of each month thereafter until payment in full of any principal outstanding under the Facility No. 1this Agreement. No Portion will be converted to a different interest rate during the applicable Interest interest period. Upon the occurrence of an event of default under this Agreement, the Bank may terminate the availability of the optional Interest rates interest rate for Interest interest periods commencing after the default occurs. At the end of each any interest period, the Interest interest rate will revert to the rate stated in the paragraph(s) entitled “Interest Rate” above, unless the Borrower has designated another optional Interest interest rate for the Portion.

Optional Rates. Each The optional Interest interest rate provided for in Paragraph 1.7 is a rate per year. Interest will be paid on any principal amounts outstanding under the Facility No. 1 on October 31, 2012first day of the first month following the commencement of the applicable interest period, and then on the same day of each month thereafter until payment in full of any principal outstanding under the Facility No. 1this Agreement. No Portion will be converted to a different interest rate during the applicable Interest interest period. Upon the occurrence of an event of default under this Agreement, the Bank may terminate the availability of the optional Interest rates interest rate for Interest interest periods commencing after the default occurs. At the end of each any interest period, the Interest interest rate will revert to the rate stated in the paragraph(s) entitled “"Interest Rate” " above, unless the Borrower has designated another optional Interest interest rate for the Portion.

Optional Rates. Each optional Interest interest rate is a rate per year. Interest will be paid on any principal amounts outstanding under the January 1, 2015 (for Facility No. 1 on October 311) and January 1, 20122015 (for Facility 2), and then on the same day of each month thereafter until payment in full of any principal outstanding under the Facility No. 1this Agreement. No Portion will be converted to a different interest rate during the applicable Interest 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 interest periods commencing after the default occurs. At the end of each interest period, the Interest interest rate will revert to the rate stated in the paragraph(s) entitled “Interest Rate” above, unless the Borrower has designated another optional Interest interest rate for the Portion.. Ref #: 1001754312 : - Servotronics Inc Standard Loan Agreement