Interest Hedge Agreements. Enter into any interest hedge ------------------------- agreement other than an Interest Hedge Agreement, which in any event will be unsecured, and with respect to which the prior approval of the Agent, which shall not be unreasonably withheld, shall have been obtained.
Interest Hedge Agreements. Company shall maintain an Interest Hedge Agreement or Agreements such that, after giving effect to such Interest Hedge Agreements, at least 50% of the aggregate Indebtedness of the Company and its Subsidiaries outstanding at any time is subject to a fixed interest rate per annum for a term of at least two years.
Interest Hedge Agreements. 56 5.15 Year 2000 Compliance...................................................56 -ii- ARTICLE VI. NEGATIVE COVENANTS
Interest Hedge Agreements. On or prior to December 31, 1997, the Borrower shall have entered into Hedging Obligations, with counterparties satisfactory to the Agent, on terms and conditions (which terms and conditions shall not include the granting of collateral to any Person other than a Lender) reasonably acceptable to the Agent having (i) an aggregate notional principal amount of at least $7,500,000 and (ii) a maturity of at one year, which one year period will be automatically renewed for two additional one year periods."
(s) Section 12.5 of the Existing Credit Agreement is deleted in its entirety and replaced with the following:
Interest Hedge Agreements. 36 SECTION 9 MISCELLANEOUS.......................................................36
Interest Hedge Agreements. Upon and during the continuance of any Event of Default, enforce all of its rights and remedies under and with respect to any Interest Hedge Agreement relating to a Note.
Interest Hedge Agreements. Borrower shall not, and shall not permit any other Loan Party to, be party to or otherwise enter into any Interest Hedge Agreement if, at the time such Hedge Transaction is entered into, the aggregate of all Interest Hedge Agreements, before and after giving effect to such Hedge Transaction, hedge or manage the interest rate exposure attributable to greater than one hundred percent (100%) of the projected outstanding principal amount of the Loans hereunder for the period of such Hedge Transaction.
Interest Hedge Agreements. (i) Within ninety (90) days following the Closing Date, the Borrower shall purchase and enter into, and at all times thereafter shall maintain, and pay and perform as and when due and payable or required to be performed, all amounts and obligations in respect of, Interest Hedge Agreements relating to the Borrower's Indebtedness which shall hedge the interest cost to the Borrower with respect to an amount which shall not be less than an amount equal to the result obtained by subtracting (x) the then outstanding principal amount of the Structurally Subordinated Indebtedness from (y) an amount equal to fifty percent (50%) of the aggregate principal amount of the Total Indebtedness (calculated as to Wireless and the Borrower) outstanding from time to time. Such Interest Hedge Agreements
(A) shall provide interest rate protection initially for a weighted average term of at least twenty-four (24) months from the date of such Interest Hedge Agreements or, if earlier, until the Maturity Date, and thereafter, for a weighted average term of at least twelve (12) months from the date of such Interest Hedge Agreements or, if earlier, until the Maturity Date, (B) must provide that the protected rate is not greater than two and one-half percent (2-1/2%) in excess of the sum of (1) the three-month Euro-Rate in effect on the date of such Interest Hedge Agreement plus (2) the Applicable Margin on the date of such Interest Hedge Agreement, (C) must be reasonably satisfactory to the Agents in all respects, including but not limited to with respect to intercreditor issues, (D) shall be entered into with counterparties reasonably satisfactory to the Agents, (E) must provide for the calculation of the counterparties' credit exposure in a reasonable and customary manner and (F) shall conform to then current International Swap Dealers Association standards.
(ii) The provisions of the preceding paragraph (i) notwithstanding, the Borrower may elect not to maintain Interest Hedge Agreements at any time and from time to time when all of the following conditions have been met: (A) no Event of Default exists or would be caused by not obtaining and maintaining Interest Hedge Agreements in accordance with the preceding paragraph (i); and (B) the Total Indebtedness to Adjusted Annualized Operating Cash Flow Ratio is and has been less than 5.00 to 1.00 for the two consecutive Fiscal Quarters immediately preceding such election.
(iii) If at any time subsequent to an election by the Borrower ...
Interest Hedge Agreements. In the case of the Borrower, promptly enter into Interest Hedge Agreements in respect of the Term Loans if necessary at any time to provide that at least 50% of the aggregate principal amount of Indebtedness of the Borrower (including subordinated Indebtedness) bears interest at a fixed (rather than floating) interest rate after giving effect to any Interest Hedge Agreements in effect with respect thereto, which Interest Hedge Agreements shall have terms and conditions reasonably satisfactory to the Administrative Agent.
Interest Hedge Agreements. On or prior to September 30, 1998, Borrower shall enter into Interest Hedge Agreements reasonably acceptable to the Administrative Agent covering not less than $11,000,000 of the principal Indebtedness evidenced by this Agreement (as set forth in the Projections) for a period of three years from such date, and against changes in market interest rates of 150 basis points or more. Borrower hereby agrees it they shall provide the Co-Agents with the identity of any proposed provider of any such Interest Hedge Agreement and the price at which Borrower proposes to enter into such Interest Hedge Agreement with that provider, and that it shall instead enter into a similar Interest Hedge Agreement with the Co-Agents (at their option ratably or with either willing Co-Agent) if the price proposed by the Co-Agents or willing Co-Agent is not greater than that proposed by the alternative provider.
