Common use of Termination of Pricing Option Clause in Contracts

Termination of Pricing Option. After the occurrence of an Event of Default, the Borrower's right to select pricing options, if applicable, shall cease, and, if the Borrower would, but for the application of the preceding clause, have had the right to elect among interest rate options, notwithstanding anything to the contrary in this Note, interest shall accrue at a rate per annum equal to 5.0% plus the current effective rate for a One-Month LIBOR Rate Balance.

Termination of Pricing Option. After the occurrence of an Event of Default, the Borrower's ’s right to select pricing options, if applicable, shall cease, and, if the Borrower would, but for the application of the preceding clause, have had the right to elect among interest rate options, notwithstanding anything to the contrary in this Note, interest shall accrue at a rate per annum equal to five percent (5.0% %) plus the then-current effective rate for a One-Month Wall Street Journal Prime Rate or LIBOR Rate BalanceRate, as the case may be, applicable to advances outstanding at such time.

Termination of Pricing Option. After the occurrence of an Event of Default, the Borrower's ’s right to select pricing options, if applicable, shall cease, and, if the Borrower would, but for the application of the preceding clause, have had the right to elect among interest rate options, notwithstanding anything to the contrary in this Note, interest shall accrue at a rate per annum equal to 5.0% plus the current effective rate for a One-Month LIBOR an Alternate Base Rate Balance.