Interest Rate Hedging. In order to take advantage of the current favorable interest-rate climate, the Commission agrees that the actual reasonable cost of PG&E’s interest rate hedging activities with respect to the financing necessary for the Settlement Plan shall be reflected and recoverable in PG&E’s retail gas and electric rates without further review.
Interest Rate Hedging. The General Partner and the Borrower will not enter into or remain liable upon, nor will they permit any Subsidiary to enter into or remain liable upon, any agreements, devices or arrangements designed to protect at least one of the parties thereto from the fluctuations of interest rates, exchange rates or forward rates applicable to such party’s assets, liabilities or exchange transactions, including, but not limited to, interest rate exchange agreements, forward currency exchange agreements, interest rate cap or collar protection agreements, forward rate currency or interest rate options unless such agreement, device or arrangement was entered into by the General Partner or the Borrower in the ordinary course of its business for the purpose of hedging interest rate risk to the General Partner or the Borrower.
Interest Rate Hedging. Enter into prior to the date that is 90 days after the Closing Date and maintain at all times thereafter until the third anniversary of the Closing Date, interest rate Swap Contracts on terms and with Persons reasonably acceptable to the Administrative Agent, covering a notional amount such that at least 50% of the Term Loans (taking into account the scheduled amortization of the Term Loans) bears interest at a fixed rate.
Interest Rate Hedging. Enter into within ninety (90) days of the Closing Date (or such longer period as may be reasonably acceptable to the Administrative Agent in its sole discretion), and maintain for a period of not less than two (2) years thereafter, interest rate Swap Contracts with Persons reasonably acceptable to the Administrative Agent, covering a notional amount of not less than 50% of the aggregate outstanding amount of the Term Loan Facility.
Interest Rate Hedging. Enter into prior to the 90th day after the Effective Date, and maintain at all times thereafter, interest rate Hedge Agreements with Persons acceptable to the Administrative Agent, covering a notional amount of not less than 50% of the Term Commitments under the Term Facility and providing for such Persons to make payments thereunder for a period of no less than three years.
Interest Rate Hedging. Enter into prior to August 18, 2008, and maintain for a period of at least 30 months thereafter, interest rate Swap Contracts on terms reasonably acceptable to the Administrative Agent, covering a notional amount of not less than 50% of the aggregate outstanding indebtedness for borrowed money of the Borrower and its Subsidiaries (other than the Total Revolving Credit Outstandings).
Interest Rate Hedging. Seller shall at all times hedge against the interest rate risk associated with any and all Mortgage Loans owned in whole or in part by Seller, as may be reasonably required by Bank from time to time.
Interest Rate Hedging. Within sixty (60) days from the Third Amended and Restated Credit Agreement Effective Date, and at the end of each fiscal quarter thereafter, EnergySolutions shall have entered into or maintained in effect one or more Hedge Agreements in such aggregate notional amount as necessary so that, with respect to no less than thirty-three percent (33%) of the then outstanding aggregate principal balance of the Term Loans and the Duratek Loans, EnergySolutions’ obligations to make floating rate interest payments thereunder will be hedged with fixed rate payments to be paid under such Hedge Agreements. Such Hedge Agreements shall provide interest rate protection on terms (including, without limitation, consideration of the creditworthiness of the other party to the proposed Hedge Agreement) reasonably acceptable to (and with parties reasonably acceptable to) the Administrative Agent for an average period of the lesser of (a) two (2) years from the date of such Hedge Agreement or Hedge Agreements and (b) the period remaining from the date thereof until the Term Loan Maturity Date. All Secured Obligations of EnergySolutions to any of the Lenders pursuant to any Secured Hedge Agreement shall rank pari passu with all other Secured Obligations. Any prepayment, acceleration, reduction, increase or any other change in the terms of the Loans hereunder will not alter the notional amount of any such Secured Hedge Agreement or otherwise affect EnergySolutions’ obligation to continue making payments under any such Secured Hedge Agreement, which will remain in full force and effect notwithstanding any such prepayment, acceleration, reduction, increase or change, subject to the terms of such Secured Hedge Agreement.
Interest Rate Hedging. Enter into within 30 days after the Closing Date, and maintain at all times thereafter, interest rate Hedge Agreements (i) with Persons reasonably acceptable to the Administrative Agent, (ii) providing either an interest-rate swap for a fixed rate of interest reasonably acceptable to the Administrative Agent or an interest-rate cap at an interest rate reasonably acceptable to the Administrative Agent, (iii) covering a notional amount equal to the amount, if any, by which (A) 66 2/3% of Consolidated Debt for Borrowed Money of the Parent and its Subsidiaries exceeds (B) all Consolidated Debt for Borrowed Money of the Parent and its Subsidiaries then accruing interest at a fixed rate acceptable to the Administrative Agent and (iv) otherwise on terms and conditions reasonably acceptable to the Administrative Agent.
Interest Rate Hedging. The Borrower shall at all times maintain one or more Interest Rate Hedge Agreements with respect to the Borrower's interest obligations on an aggregate principal amount of not less than fifty percent (50%) of the principal amount of Total Debt outstanding from time to time. Such Interest Rate Hedge Agreements shall provide interest rate protection in conformity with ISDA standards and for a period of at least three (3) years from the date of such Interest Rate Hedge Agreements or, if earlier, until the Maturity Date on terms acceptable to the Managing Agents, such terms to include consideration of the creditworthiness of the other party to the proposed Interest Rate Hedge Agreement. Interest Rate Hedge Agreements required hereby may be in the form of (i) an "on-market" interest rate swap, (ii) an interest rate cap having a cap not higher than two percent (2%) per annum above the prevailing interest rate for U.S. Treasury securities having a term approximately equal to the term of the interest rate cap in question, or (iii) any other interest rate hedging product satisfactory to the Managing Agents. Indebtedness for Money Borrowed of the Borrower and the Restricted Subsidiaries which bears interest at a fixed rate shall be deemed to be subject to an Interest Rate Hedge Agreement for purposes of this Section. Subject to compliance with Section 7.1(d) hereof, the Borrower may also enter into interest rate floors corresponding to any interest rate caps it has entered into in accordance with this Agreement, so long as (i) the floors are lower in rate than the corresponding caps, (ii) such floors have terms no longer than the corresponding caps, and (iii) such floors conform to ISDA standards. All Obligations of the Borrower to the Administrative Agent or any of the Banks pursuant to any Interest Rate Hedge Agreement permitted hereunder and all Liens granted to secure such Obligations shall rank pari passu with all other Obligations and Liens securing such other Obligations; and any Interest Rate Hedge Agreement between the Borrower and any other Person shall be unsecured.
