Common use of Terms of Fixed Rate Setting Clause in Contracts

Terms of Fixed Rate Setting. (a) The Lenders, at the Borrower's direction, shall cause the Applicable Rate for the Loan to be a fixed rate effective for the period commencing on a date selected by Borrower during the term of the Notes (the "Swap Effective Date") and ending on the final scheduled maturity date of the Notes issued in respect of the Loan (the "Swap Period"); provided that if the proposed Swap Effective Date is not an Interest Payment Date, the Borrower shall be liable for any LIBOR Break Amount.

Terms of Fixed Rate Setting. (a) The Lenders, at the Borrower's direction, shall cause the Applicable Rate for the each Loan to be a fixed rate effective for the period commencing on a date selected by Borrower during the term of the Notes (the "Swap Effective Date") and ending on the final scheduled maturity date of the Notes issued in respect of the such Loan (the "Swap Period"); provided that if the proposed Swap Effective Date is not an Interest Payment Date, the Borrower shall be liable for any LIBOR Break Amount.