Common use of Interest Rate Contracts Clause in Contracts

Interest Rate Contracts. The Borrower shall, within 120 days after the Closing Date, enter into and thereafter maintain Interest Rate Contracts on terms and with counterparties reasonably satisfactory to the Administrative Agent, to provide protection against fluctuation of interest rates until the 3rd anniversary of the Closing Date for a notional amount equal to at least 50% of the sum of the aggregate Commitments on the date hereof.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Dayton Superior Corp), Term Loan Credit Agreement (Dayton Superior Corp)

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Interest Rate Contracts. The Unless otherwise agreed by the Administrative Agent, the Borrower shall, shall use commercially reasonable efforts to have entered into within 120 90 days after of the Closing Date, enter into and thereafter maintain maintain, Interest Rate Contracts on terms and with counterparties reasonably satisfactory to the Administrative Agent, to provide protection against fluctuation of interest rates until the 3rd anniversary for a term of the Closing Date not less than 3 years and for a notional amount equal up to at least 50% of the sum aggregate principal amount of the aggregate Commitments on the date hereofFirst Lien Term Loans.

Appears in 2 contracts

Samples: Second Lien Credit Agreement (Clearlake Capital Partners, LLC), Second Lien Credit Agreement (Goamerica Inc)

Interest Rate Contracts. The Borrower shall, within 120 90 days after the Closing Date, enter into and thereafter maintain Interest Rate Contracts on terms and with counterparties reasonably satisfactory to the Administrative Agent, to provide protection against fluctuation of interest rates until the 3rd 2nd anniversary of the Closing Date for a notional amount equal that, when added to the aggregate principal amount of Consolidated Total Debt of the Borrower bearing interest at a fixed rate, equals at least 50% of the sum aggregate principal amount of the aggregate Commitments on the date hereofTerm Loans.

Appears in 1 contract

Samples: Credit Agreement (Princeton Review Inc)

Interest Rate Contracts. The Unless otherwise agreed by the Agents, the Borrower shall, shall use commercially reasonable efforts to have entered into within 120 90 days after of the Closing Date, enter into and thereafter maintain maintain, Interest Rate Contracts on terms and with counterparties reasonably satisfactory to the Administrative AgentAgents, to provide protection against fluctuation of interest rates until the 3rd anniversary for a term of the Closing Date not less than 3 years and for a notional amount equal up to at least 50% of the sum aggregate principal amount of the aggregate Commitments on the date hereofTerm Loan.

Appears in 1 contract

Samples: Credit Agreement (Goamerica Inc)

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Interest Rate Contracts. The Borrower shall, within 120 90 days after the Closing Date, enter into and thereafter maintain Interest Rate Contracts on terms and with counterparties reasonably satisfactory to the Administrative Agent, to provide protection against fluctuation of interest rates until the 3rd 2nd anniversary of the Closing Date for a notional amount equal to that equals at least 50% of the sum aggregate principal amount of the aggregate Commitments on Term Loan Facility and the date hereofSecond Lien Facility.

Appears in 1 contract

Samples: Credit Agreement (Medical Staffing Network Holdings Inc)

Interest Rate Contracts. The Borrower shall, within 120 90 days after the Closing Date, enter into and thereafter maintain Interest Rate Contracts Agreements on terms and with counterparties reasonably satisfactory to the Administrative Agent, to provide protection against fluctuation of interest rates until the 3rd 2nd anniversary of the Closing Date for a notional amount equal to that equals at least 50% of the sum aggregate principal amount of the aggregate Commitments Term Loans and First Lien Term Loans made on the date hereofClosing Date.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Beasley Broadcast Group Inc)

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