Hedge Covenant. Guarantor shall, at all times, hedge the floating interest expense of not less than fifty-three (53%) percent of the aggregate outstanding principal balance of the Term Loans or the equivalent principal amount in respect of loans under the Revolving Credit Agreement with a term of three (3) years or longer by maintaining one or more interest rate swap transactions with Lender or an Affiliate of Lender (or with another financial institution approved by Lender in writing in its reasonable discretion) providing for a fixed rate acceptable to Lender, with Guarantor making fixed rate payments and receiving floating rate payments to offset changes in the variable interest expense of the related Loan, all upon terms and subject to such conditions as shall be acceptable to Lender (or if such transaction is with another financial institution, all upon terms and subject to such conditions as shall be approved by Lender in writing in its reasonable discretion). Any prepayment, acceleration, reduction, increase or any change in the terms of any such Loan will not alter the notional amount of any such interest rate swap transactions or otherwise affect Guarantor’s obligation to continue making payments under any such interest rate swap transactions, which will remain in full force and effect notwithstanding any such prepayment, acceleration, reduction, increase or change, subject to the terms of such interest rate swap transactions.
Hedge Covenant. Borrower shall have the option to hedge the floating interest expense of the Term Loan with Draw Period for the full term of the Term Loan with Draw Period, if Borrower is an “eligible contract participant” (as defined in the Commodities Exchange Act) on the date the swap or derivative is entered into, by maintaining one or more interest rate swap transactions with Bank (or with another financial institution approved by Bank Exhibit 10.1 in writing) in an aggregate notional amount equal to the outstanding principal balance of the Term Loan with Draw Period originally scheduled to be outstanding over its term when the hedge is executed and providing for a fixed rate, with Borrower making fixed rate payments and receiving floating rate payments to offset changes in the variable interest expense of the Term Loan with Draw Period.
Hedge Covenant. Borrowers shall have the option to hedge the floating interest expense of all or any portion of the Inventory Facility for the full term of the Inventory Facility by maintaining one or more interest rate swap transactions with Lead Lender or a Lender Affiliate of Lead Lender (or with another financial institution approved by the Required Lenders in writing) in an aggregate notional amount equal to the outstanding principal balance of the related Inventory Facility originally scheduled to be outstanding over such term when the hedge is executed and providing for a fixed rate acceptable to the Required Lenders, with Borrowers making fixed rate payments and receiving floating rate payments to offset changes in the variable interest expense of the related Inventory Facility, all upon terms and subject to such conditions as shall be acceptable to the Lead Lender (or if such transaction is with another financial institution, all upon terms and subject to such conditions as shall be approved by the Required Lenders in writing). Any prepayment, acceleration, reduction, increase or any change in the terms of any such Inventory Facility will not alter the notional amount of any such interest rate swap transactions or otherwise affect Borrowers’ obligation to continue making payments under any such interest rate swap transactions, which will remain in full force and effect notwithstanding any such prepayment, acceleration, reduction, increase or change, subject to the terms of such interest rate swap transactions.
Hedge Covenant. Borrower shall have the option to hedge the floating interest expense of all or any portion of each Loan for the full term of each Loan by maintaining one or more interest rate swap transactions with Lender or a Lender Affiliate (or with another financial institution approved by the Lender in writing) in an aggregate notional amount equal to the outstanding principal balance of such Loan originally scheduled to be outstanding over such term when the hedge is executed and providing for a fixed rate acceptable to the Lender, with Borrower making fixed rate payments and receiving floating rate payments to offset changes in the variable interest expense of such Loan, all upon terms and subject to such conditions as shall be acceptable to the Lender (or if such transaction is with another financial institution, all upon terms and subject to such conditions as shall be approved by the Lender in writing). Any prepayment, acceleration, reduction, increase or any change in the terms of the Loan will not alter the notional amount of any such interest rate swap transactions or otherwise affect Borrower's obligation to continue making payments under any such interest rate swap transactions, which will remain in full force and effect notwithstanding any such prepayment, acceleration, reduction, increase or change, subject to the terms of such interest rate swap transactions.
