Common use of Rate Designation Clause in Contracts

Rate Designation. Borrower shall designate each Loan as a SOFR Loan or a Base Rate Loan in the Request for Borrowing or Request for Conversion/Continuation given to Agent in accordance with Section 2.6 or Section 2.7, as applicable. Each Base Rate Loan under the Revolving Credit Facility shall be in a minimum principal amount of $500,000 and, thereafter, in integral multiples of $100,000, unless such Advance is being made to pay any interest, fees, or expenses then due hereunder, in which case such Advance may be in the amount of such interest, fees, or expenses, and each SOFR Loan under the Revolving Credit Facility shall be in a minimum principal amount of $500,000 and, thereafter, in integral multiples of $100,000.

Rate Designation. Borrower shall designate each Loan under the Revolving Credit Facility as a SOFR Base Rate Loan or a Base Rate SOFR Loan in the Request for Borrowing or Request for SOFR Conversion/Continuation given to Agent in accordance with Section 2.6 or Section 2.7, as applicable. Each Base Rate Loan under the Revolving Credit Facility shall be in a minimum principal amount of $500,000 and, thereafter, in 100,000 and integral multiples of $100,00050,000 in excess thereof, unless such Advance Loan is being made to pay any interest, fees, or expenses then due hereunder, in which case such Advance Loan may be in the amount of such interest, fees, or expenses, and each SOFR Loan under the Revolving Credit Facility shall be in a minimum principal amount of $500,000 and, thereafter, in 250,000 and integral multiples of $100,00050,000 in excess thereof.