Hedging Facilities. The Borrower shall maintain in full force and effect the interest rate swaps, caps and/or other Derivatives Obligations entered into pursuant to Section 5.27 of the Original Credit Agreement.
Hedging Facilities. If the aggregate principal amount of Revolving Credit Loans outstanding reaches at any time an amount equal to or greater than $15,000,000, the Lenders may require that the Company, at its sole cost and expense, enter into and thereafter maintain in full force and effect interest rate cap agreements in such amounts and on such terms as shall reasonably be requested by the Agent.
Hedging Facilities. The Borrower will, at its sole cost and expense not later than 60 days following the Acquisition Date, enter into and thereafter maintain in full force and effect interest rate cap or swap agreements or similar agreements on such terms as shall be reasonably acceptable to the Administrative Agent and that shall result in the interest rate payable on not less than (i) at any time prior to the Consummation Date, 30% of Total Debt at such time and (ii) at any time on and after the Consummation Date, 40% of Total Debt at such time, being effectively (or in fact) fixed.
Hedging Facilities. Not later than 60 days after the Closing Date the Borrower will have entered into and thereafter maintain in full force and effect interest rate agreements in such amounts and on such terms as shall result in effectively limiting the interest cost to the Borrower on the Term Loans in an aggregate notional principal amount not less than $300,000,000 for a period of three years beginning on such date, all on terms and conditions reasonably satisfactory to the Required Lenders.
Hedging Facilities. Not later than 60 days after the Effective Date the Borrowers will have entered into and thereafter maintain in full force and effect interest rate agreements, swaps, caps or other appropriate hedging arrangements in such amounts and on such terms as to convert to fixed rate or otherwise limit, in a manner satisfactory to the Agent, the floating interest rate risk on at least 662/3% in aggregate principal amount of all Term Loans outstanding from time to time for a period of no less than three years beginning on such date, all on terms and conditions reasonably satisfactory to the Required Lenders.
Hedging Facilities. No later than ninety (90) days after the Closing Date, the Borrower will enter into and maintain in full force and effect one or more hedging agreements in such amounts and on such terms as shall result in effectively limiting the cost to the Borrower of changes in LIBOR with respect to an aggregate notional principal amount not less than 50% of the aggregate principal amount of the Term Loans outstanding on the Closing Date for a period of at least two (2) years beginning on the Closing Date. The Borrower will not and will not permit any of its Subsidiaries to, incur any Hedging Liabilities except for purposes of hedging and not for speculative purposes.
Hedging Facilities. Upon request of the Agent, within 60 days after request by Agent, the Borrowers, at their sole cost and expense, shall enter into, and cause to be maintained in effect one or more Interest Rate Protection Agreements having terms, conditions and tenures, and being otherwise in form and substance reasonably satisfactory to Agent, to the extent necessary so that, until the Term Loan Maturity Date, interest on Indebtedness in a principal amount equal to at least 50% of the total outstanding principal amount of the Term Loan is effectively fixed or capped at rates which are reasonably acceptable to the Agent.
Hedging Facilities. Not later than sixty (60) days following the Closing Date, the Company will, at its sole cost and expense, enter into and thereafter maintain in full force and effect an interest rate cap agreement for a term of three (3) years, in an initial notional amount of $15,000,000 and thereafter amortizing on a pro rata basis with the Tranche A Loans, with a strike price at 8.8% per annum, or upon such other terms as may be agreed to by the Agent in its sole discretion.
Hedging Facilities. Vencor will enter into and maintain in full force and effect interest rate hedging arrangements reasonably satisfactory to the Agents to the extent, if any, required so that at least 30% of Consolidated Debt for Borrowed Money (excluding Guarantees referred to in clause (z) of the definition of "Consolidated Debt for Borrowed Money") will be either fixed rate debt or floating rate debt hedged to a fixed rate by such hedging arrangements; provided that Vencor shall not be required to comply with this Section at any time when its senior unsecured long-term debt securities without any third party credit enhancement are Rated (i) at least BB, if Rated by S&P but not by Moodx'x, (xi) at least Ba2, if Rated by Moodx'x xxx not by S&P, or (iii) at least BB by S&P and at least Ba2 by Moodx'x, xx Rated by both. As used in this Section the term "RATED" means publicly rated (or, if not publicly rated, having an Implied Rating or Private Letter Rating).
Hedging Facilities. The Borrower and Canadian Borrowers, as applicable, will maintain in full force and effect interest rate agreements in such amounts and on such terms as shall result in effectively limiting the cost to the Borrower and Canadian Borrowers of changes in LIBOR with respect to an aggregate notional principal amount reasonably acceptable to the Administrative Agent for a period of at least three years beginning on the Closing Date, all on terms and conditions reasonably satisfactory to the Administrative Agent. The Borrower and Canadian Borrowers, as applicable, will not and will not permit any of its Subsidiaries to, incur any Hedging Liabilities except for purposes of hedging and not for speculative purposes.
