Common use of Hedge Requirement Clause in Contracts

Hedge Requirement. To protect against fluctuations in interest rates, Sponsor shall deliver to Fxxxxxx Mac and shall make arrangements for third-party Hedge Agreements to be in place and maintained at all times, with respect to the Class A Certificates during any period in which the Class A Certificates bear interest at a Weekly Reset Rate or Monthly Reset Rate. The Hedge Agreement with respect to the Class A Certificates shall take the form of one or more Caps that meet the requirements of this Article V. The initial Hedge Agreement with respect to the Class A Certificates shall be three Caps with counterparties acceptable to Fxxxxxx Mac. Each initial Cap shall have a termination date of September 15, 2017 and a Strike Rate of 3%. The combined notional amount of the initial Caps shall equal the Initial Certificate Balance of the Class A Certificates on the Closing Date and shall decline based upon the scheduled amortization of the Class A Certificates. The initial Caps shall otherwise satisfy the terms hereof.

Hedge Requirement. To protect against fluctuations in interest rates, Sponsor shall deliver to Fxxxxxx Xxxxxxx Mac and shall make arrangements for third-party Hedge Agreements to be in place and maintained at all times, with respect to the Class A Certificates during any period in which the Class A Certificates bear interest at a Weekly Reset Rate or Monthly Reset Rate. The Hedge Agreement with respect to the Class A Certificates shall take the form of one or more Caps that meet meets the requirements of this Article V. The initial Hedge Agreement with respect to the Class A Certificates shall be three Caps with counterparties acceptable to Fxxxxxx Xxxxxxx Mac. Each The initial Cap Caps shall have a termination date of September August 15, 2017 2020 and a Strike Rate of 3%. The combined notional amount of the initial Caps shall equal the Initial Certificate Balance of the Class A Certificates on the Closing Date and shall decline based upon the scheduled amortization of the Class A Certificates. The initial Caps shall otherwise satisfy the terms hereof.

Hedge Requirement. To protect against fluctuations in interest rates, Sponsor shall deliver to Fxxxxxx Xxxxxxx Mac and shall make arrangements for third-party Hedge Agreements to be in place and maintained at all times, with respect to the Class A Certificates during any period in which the Class A Certificates bear interest at a Weekly Reset Rate or Monthly Reset Rate. The Hedge Agreement with respect to the Class A Certificates shall take the form of one or more Caps that meet meets the requirements of this Article V. The initial Hedge Agreement with respect to the Class A Certificates shall be three Caps with counterparties acceptable to Fxxxxxx Xxxxxxx Mac. Each The initial Cap Caps shall have a termination date of September August 15, 2017 2019 and a Strike Rate of 3%. The combined notional amount of the initial Caps shall equal the Initial Certificate Balance of the Class A Certificates on the Closing Date and shall decline based upon the scheduled amortization of the Class A Certificates. The initial Caps shall otherwise satisfy the terms hereof.