Common use of Selection of Interest Rate Clause in Contracts

Selection of Interest Rate. For each Drawdown, the Borrower may select a fixed Interest Rate or a floating Interest Rate, which shall apply to the amount set out in the relevant Drawdown Request, by stating the selected Interest Rate, i.e., fixed or floating, in the Drawdown Request delivered to the Lender substantially in the form set out in Schedule 5A (Form of Drawdown Request), subject to the following conditions:

Selection of Interest Rate. For each Drawdown, the The Borrower may select a fixed Interest Rate or a floating Interest RateRate for the Facility, which shall apply to the amount set out in the relevant Drawdown Request, by stating the selected Interest Rate, i.e., fixed or floating, in the Drawdown Request delivered to the Lender substantially in the form set out in Schedule 5A (Form of Drawdown Rate Conversion Request), subject to the following conditions: