Hedging Covenant Sample Clauses

Hedging Covenant. (a) The Borrower shall have entered into an Interest Rate Cap within thirty (30) days following the Closing Date to hedge interest rate risk with respect to the obligations of the Borrower to pay interest on the Loans hereunder, on the following terms:
Sample 1
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Hedging Covenant. Hedge Trigger Event. Within sixty (60) days of the occurrence of a Hedge Trigger Event (and provided such Hedge Trigger Event is still continuing), the Borrower (or, if applicable, GreenSky or the Seller on Borrower’s behalf) shall enter into a Qualified Hedging Transaction pursuant to a Qualified Hedging Agreement to hedge interest rate risk for a notional amount equal to or about the Aggregate Loan Principal Balance (or such other amount reasonably acceptable to the Administrative Agent, including pursuant to an amortization table to reflect projected changes in the Aggregate Loan Principal Balance) and a strike rate as agreed to by the Administrative Agent and the Borrower; provided, however, that the Administrative Agent shall not require any new Qualified Hedging Transaction to be obtained by the Borrower (or, if applicable, GreenSky or the Seller on Borrower’s behalf) at any time if the aggregate notional amount of such new Qualified Hedging Transaction and all existing Qualified Hedging Transactions (if any) at such time would exceed the Aggregate Loan Principal Balance at such time.
Sample 1
Hedging Covenant. Within thirty (30) days of the Third Amendment Effective Date, the Borrower (or, if applicable, GreenSky or the Seller on Borrower’s behalf) shall enter into a Qualified Hedging Transaction that is a 3-month LIBO Rate interest rate cap with a strike price of 2.50% pursuant to a Qualified Hedging Agreement for a notional amount equal to $555,000,000 with an amortization schedule to reflect a fixed amount of $555,000,000 for the first twelve months and amortization over the next twenty-four months based on the projected amortization of the Aggregate Loan Principal Balance as determined by the Administrative Agent in its reasonable discretion in consultation with the Borrower and the Servicer. (a)
Sample 1
Hedging Covenant 
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Related to Hedging Covenant

  • Financial Covenant So long as any Loan shall remain unpaid, any Letter of Credit shall remain outstanding or any Lender shall have any Commitment hereunder, the Borrower will maintain a ratio of Consolidated Debt to Consolidated Capital of not greater than 0.65 to 1.00 as of the last day of each fiscal quarter.

  • Credit Agreement Covenants Each Guarantor shall observe, perform and comply with all covenants applicable to such Guarantor set forth in Articles VI and VII of the Credit Agreement, which by their terms the Borrowers are required to cause such Guarantor to observe, perform and comply with, as if such covenants were set forth in full herein.

  • Financial Condition Covenant Permit the Asset Coverage Ratio to be less than the Minimum Permitted Ratio; or in each case allow Indebtedness of the Borrower to exceed the limits set forth in the Borrower’s Prospectus or registration statement or allow Indebtedness to exceed the requirements of the 1940 Act.

  • Continuing Covenants Each Party agrees (i) not to take any action reasonably expected to result in a new or changed Tax Item that is detrimental to any other Party and (ii) to take any action reasonably requested by any other Party that would reasonably be expected to result in a new or changed Tax Item that produces a benefit or avoids a detriment to such other Party; provided that such action does not result in any additional cost not fully compensated for by the requesting Party. The Parties hereby acknowledge that the preceding sentence is not intended to limit, and therefore shall not apply to, the rights of the Parties with respect to matters otherwise covered by this Agreement.

  • Parent Covenants The Parent will:

  • Reporting Covenant So long as any Guaranteed Obligations shall remain unsatisfied or any Lender shall have any Commitment, each Guarantor agrees that it shall furnish to the Administrative Agent such information respecting the operations, properties, business or condition (financial or otherwise) of such Guarantor or its Subsidiaries as the Administrative Agent, at the request of any Guaranteed Party, may from time to time reasonably request.

  • BORROWER COVENANTS Borrower covenants and agrees that:

  • Ship Covenants The undertakings in this Clause 21 remain in force throughout the Security Period.

  • Nonpetition Covenant Each party hereto agrees that, prior to the date which is one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party (i) such party hereto shall not authorize any Bankruptcy Remote Party to commence a voluntary winding-up or other voluntary case or other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the benefit of its creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence, join with any other Person in commencing or institute with any other Person, any Proceeding against such Bankruptcy Remote Party under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. This Section shall survive the termination of this Agreement.

  • Joint Covenants Buyer and Seller hereby covenant and agree that between the date hereof and Closing:

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