Common use of Interest Rate Contracts Clause in Contracts

Interest Rate Contracts. On or before the date that is 30 days after the Closing Date, the Borrower shall establish and thereafter maintain Interest Rate Contracts with respect to interest rate exposure under this Agreement and the Second Lien Credit Agreement with an aggregate notional principal amount thereunder equal to at least 50% of the aggregate outstanding Term Loans under the Credit Facility and loans made under the Second Lien Credit Facility on the Closing Date, with tenors not less than two years from the Closing Date and otherwise in form and substance reasonably satisfactory to the Administrative Agent.

Interest Rate Contracts. On or before the date that is 30 days after the Closing Date, the Borrower shall establish and thereafter maintain Interest Rate Contracts with respect to interest rate exposure under this Agreement and the Second First Lien Credit Agreement with an aggregate notional principal amount thereunder equal to at least 50% of the aggregate outstanding Term Loans under the Credit Facility hereunder and term loans made under the Second First Lien Credit Facility on the Closing Date, with tenors not less than two years from the Closing Date and otherwise in form and substance reasonably satisfactory to the Administrative Agent.