Common use of Swing Loan Interest Rate Clause in Contracts

Swing Loan Interest Rate. Each Swing Loan shall bear interest at a rate per annum equal to (i) the Base Rate (computed on the basis of a year of three hundred sixty five (365) or three hundred sixty six (366) days, as the case may be, and actual days elapsed), such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate or (ii) such other interest rates (computed on the basis of a year of three hundred sixty (360), three hundred sixty five (365) or three hundred sixty six (366) days, as PNC may determine) as PNC Bank and the Borrowers may agree to from time to time.

Swing Loan Interest Rate. Each Swing Loan shall bear interest at a rate per annum equal to (i) the Base Rate (computed on the basis of a year of three hundred sixty five (365) 365 or three hundred sixty six (366) 366 days, as the case may be, and actual days elapsed), such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate or (ii) such other interest rates (computed on the basis of a year of three hundred sixty (360), three hundred sixty five (365) 365 or three hundred sixty six (366) 366 days, as PNC may determine) as PNC Bank and the Borrowers Borrower may agree to from time to time.

Swing Loan Interest Rate. Each Swing Loan shall bear interest at a rate per annum equal to (i) the Base Rate (computed on the basis of a year of three hundred sixty sixty-five (365) or three hundred sixty sixty-six (365 or 366) days, as the case may be, and actual days elapsed)) plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate or (ii) such other interest rates (computed on the basis of a year of three hundred sixty (360), three hundred sixty five (365) or three hundred sixty six (366) days, as PNC may determine, and actual days elapsed) as PNC Bank and the Borrowers Borrower may agree to from time to time.