Interest Rate Hedging Agreement Sample Clauses

Interest Rate Hedging Agreement. Each of the Lenders may enter into Interest Rate Hedging Agreements with the Company. Each Lender entering into such an agreement shall provide notice of such agreement and the amount thereof to the Agent within ten (10) days of the execution thereof, provided, however, that the failure to give such notice timely shall not affect any of the obligations and liabilities of the Company, then existing or thereafter arising, under or with respect to the agreement by which the notice was to have been given, nor preclude such obligations and liabilities from being part of the Obligations.
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Interest Rate Hedging Agreement. (a) Borrower shall obtain or cause to be obtained, and shall thereafter maintain in effect, an Interest Rate Hedging Agreement with an Acceptable Counterparty, which shall (i) be coterminous with the Loan, (ii) have a notional amount which shall not at any time be less than the sum of the outstanding principal balance of the Loan, and (iii) at all times have a strike rate equal to the then applicable Strike Rate. The Counterparty shall be obligated under the Interest Rate Hedging Agreement to make monthly payments equal to the excess of one (1) month LIBOR over the Strike Rate, calculated on the notional amount. The notional amount of the Interest Rate Hedging Agreement may be reduced from time to time in amounts equal to any prepayment of the principal of the Loan in accordance with Section 2.3 and Section 2.6 hereof. Notwithstanding the foregoing, in the event that (i) Mortgage Lender waives the requirements of the Mortgage Loan Documents to maintain an interest rate hedging agreement with respect to the Mortgage Loan or Mortgage Borrower is in violation of its obligations relating thereto and (ii) Mezzanine A Lender waives the requirements of the Mezzanine A Loan Documents to maintain an interest rate hedging agreement with respect to the Mezzanine A Loan or Mezzanine A Borrower is in violation of its obligations relating thereto, Lender may require Borrower to obtain, or cause to be obtained, and to thereafter maintain in effect, an Interest Rate Hedging Agreement in accordance with the terms of this Section 2.4, which shall have a notional amount which shall not at any time be less than the outstanding principal balance of the Loan, the Mezzanine A Loan and the Mortgage Loan and which shall at all times have a strike rate equal to the Strike Rate (which shall be calculated taking into consideration the Mortgage Debt Service, the Mezzanine A Debt Service and the Debt Service and the weighted average interest rate spread of the Mortgage Loan, the Mezzanine A Loan and the Loan).
Sample 1
Interest Rate Hedging Agreement. Each of the Banks, other than Bank One, may enter into interest rate hedging agreements with the Company not to exceed the amount of such Bank's Commitment. Bank One may enter into interest rate hedging agreements, including the Master Agreement with the Company in excess of its Commitment. Each Bank entering into such an agreement shall provide notice of such agreement and the amount thereof to the other Banks within ten (10) days of the execution thereof, provided, however, that the failure to give such notice timely shall not affect any of the obligations and liabilities of the Company, then existing or thereafter arising, under or with respect to the agreement by which the notice was to have been given, nor preclude such obligations and liabilities from being part of the Obligations.
Sample 1
Interest Rate Hedging Agreement. A Hedging Agreement with one or more Eligible Interest Rate Hedge Counterparties that protects the Borrower against fluctuations in interest rates. Interpool. Interpool Containers Limited, a company organized under the laws of Barbados.
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Interest Rate Hedging Agreement. A Hedging Agreement with one or more Eligible Interest Rate Hedge Counterparties that protects the Borrower against fluctuations in interest rates.
Sample 1
Interest Rate Hedging Agreement. The Borrowers shall deliver to the Administrative Agent within 120 days of the Initial Funding Date evidence satisfactory to the Administrative Agent that the Borrowers have purchased an Interest Rate Hedging Agreement with a financial institution acceptable to the Administrative Agent pursuant to which the Borrowers have reduced their risk of exposure to a level reasonably satisfactory to the Administrative Agent in its sole discretion. This interest rate cap agreement shall be in force for at least three (3) years following the Initial Funding Date and shall apply to a minimum of 40% of the Commitment.
Sample 1
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Related to Interest Rate Hedging Agreement

  • Interest Rate Hedging (a) 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 Closing Date Term Facility.

  • Hedging Agreement Any termination payment shall be due by the Borrower under any Hedging Agreement and such amount is not paid within ten (10) Business Days of the due date thereof.

  • Swap Agreement The Depositor hereby directs the Securities Administrator to execute and deliver on behalf of the Trust the Swap Agreement and authorizes the Securities Administrator to perform its obligations thereunder on behalf of the Supplemental Interest Trust in accordance with the terms of the Swap Agreement. The Depositor hereby authorizes and directs the Securities Administrator to ratify on behalf of the Supplemental Interest Trust, as the Supplemental Interest Trust’s own actions, the terms agreed to by the Depositor in relation to the Swap Agreement, as reflected in the Swap Agreement, and the Securities Administrator hereby so ratifies the Swap Agreement. If based upon a notice from the valuation agent pursuant to section 4(c) of the credit support annex, the Securities Administrator determines that a delivery amount exists, then the Securities Administrator shall demand such amount pursuant to section 3(a) of the credit support annex. The Securities Administrator shall amend the Swap Agreement in accordance with its terms and as requested in writing by a party to the Swap Agreement to cure any ambiguity in or correct or supplement any provision of, the Swap Agreement; provided, however, that any such amendment will not have a material adverse effect to a Certificateholder as evidenced by a written confirmation from each Rating Agency that such amendment would not result in the reduction or withdrawal of the then current ratings of any outstanding Class of Certificates. The Swap Agreement shall not part of any REMIC. The Swap Provider is the calculation agent under the Swap Agreement and shall calculate all amounts pursuant to the Swap Agreement and notify the Securities Administrator of all such amounts. The Depositor hereby directs the Securities Administrator to execute, deliver and perform its obligations under the Swap Agreement on the Closing Date and thereafter on behalf of the Holders of the Offered Certificates and the Class M-10 and Class M-11 Certificates. The Seller, the Depositor, the Servicer and the Holders of the Offered Certificates and the Class M-10 and Class M-11 Certificates by their acceptance of such Certificates acknowledge and agree that the Securities Administrator shall execute, deliver and perform its obligations under the Swap Agreement and shall do so solely in its capacity as Securities Administrator of the Supplemental Interest Trust and not in its individual capacity. The Depositor hereby instructs the Securities Administrator to make any and all demands for Eligible Collateral (as defined in the ISDA Master Agreement) under the Swap Agreement from the Swap Provider in satisfaction of the Delivery Amount (as defined in the ISDA Master Agreement) requirement. The Depositor hereby instructs the Securities Administrator to deliver notice to the Swap Provider upon any failure of the Swap Provider to transfer the Delivery Amount (as defined in the ISDA Master Agreement) pursuant to an Approved Credit Support Document (as defined in the Swap Agreement).

  • Hedging Agreements The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

  • Interest Rate Agreements 13 Investment..................................................................13

  • Interest Rate Contracts The Borrower shall at all times from and after the date of this Agreement maintain in full force and effect, an Interest Rate Contract(s) in form and substance satisfactory to Agent in an amount necessary to ensure that the outstanding “Debt” (as hereinafter defined) of Borrower, the Guarantors and their respective Subsidiaries that is Variable Rate Debt does not exceed twenty-five percent (25%) of Consolidated Total Adjusted Asset Value of the Borrower. The Interest Rate Contract(s) shall be provided by any Bank which is a party to this Agreement or a bank or other financial institution that has unsecured, uninsured and unguaranteed long-term debt which is rated at least A-3 by Xxxxx’x Investor Service, Inc. or at least A- by Standard & Poor’s Corporation. The Borrower shall upon the request of the Agent provide to the Agent evidence that the Interest Rate Contract(s) is in effect. For the purposes of this §7.18, the term “Debt” shall mean any indebtedness of the Borrower, the Guarantors or any their respective Subsidiaries, whether or not contingent, and without duplication, in respect of (i) borrowed money evidenced by bonds, notes, debentures or similar instruments or (ii) indebtedness secured by any mortgage, pledge, lien, charge, encumbrance or any security interest existing on property owned by the Borrower, any Guarantor or any of their respective Subsidiaries, to the extent that any such items would appear as a liability on the balance sheet of the Borrower, the Guarantors or any of their respective Subsidiaries in accordance with GAAP, and also includes, to the extent not otherwise included, any obligation by the Borrower, the Guarantors or any of their respective Subsidiaries to be liable for, or to pay, as obligor, guarantor or otherwise (other than for purposes of collection in the ordinary course of business), indebtedness of another Person (other than the Borrower, any Guarantor or any of their respective Subsidiaries) (it being understood that Debt shall be deemed to be incurred by the Borrower, the Guarantors or any of their respective Subsidiaries whenever the Borrower, any Guarantor or any of their respective Subsidiaries shall create, assume, guarantee or otherwise become liable in respect thereof).

  • Interest Rate Protection Agreement As of the date hereof, Borrower has entered into, made all payments required under, and satisfied all conditions precedent to the effectiveness of, an interest rate protection agreement that satisfies all of the following conditions (such interest rate protection agreement together with (i) any extension thereof or (ii) any other interest rate protection agreement entered into pursuant to Section 2.8, being referred to herein as the “Interest Rate Protection Agreement”):

  • Interest Rate Protection Agreements (a) Within ninety days after the Closing Date, the Borrower shall enter into and thereafter maintain interest rate protection agreements (protecting against fluctuations in interest rates) having a term of at least three years from the Closing Date, establishing a fixed or maximum interest rate of 10.5% per annum for an aggregate notional amount equal to at least 50% of the aggregate principal amount of all Term Loans then outstanding.

  • Hedge Agreement (a) In the event that the Trustee does not receive by the Business Day preceding a Distribution Date the amount as specified by the Master Servicer pursuant to Section 4.04(a)(vi) hereof as the amount to be paid with respect to such Distribution Date by the Hedge Counterparty under the Hedge Agreement, the Trustee shall enforce the obligation of the Hedge Counterparty thereunder. The parties hereto acknowledge that the Hedge Counterparty shall be making all calculations, and determine the amounts to be paid, under the Hedge Agreement. Absent manifest error, the Trustee may conclusively rely on such calculations and determination and any notice received by it from the Master Servicer pursuant to Section 4.04(a)(vi) hereof.

  • Interest Rate Cap Agreement (a) The Interest Rate Cap Agreement in effect on the Closing Date has a LIBOR strike price equal to the Strike Price and a scheduled termination date of the Initial Maturity Date. The Interest Rate Cap Agreement (i) is in a form and substance reasonably acceptable to Lender, (ii) is with an Acceptable Counterparty, (iii) directs such Acceptable Counterparty to pay directly to an account pledged to Lender any amounts due Borrower under such Interest Rate Cap Agreement unless and until otherwise instructed by Lender (it being agreed as between Lender and Borrower that Lender will so instruct the Counterparty at such time as the Debt shall no longer exist, provided that the Debt shall be deemed to exist if the Properties are transferred by judicial or non-judicial foreclosure or deed-in-lieu thereof), and (iv) has a notional amount at least equal to the principal balance of the Loan outstanding on the Closing Date (it being understood that the notional amount of the Interest Rate Cap Agreement may be reduced, from time to time, as the principal balance of the Loan is reduced (in the amounts of such reduction in principal) pursuant to clause (g) below). Borrower shall collaterally assign to Collateral Agent (for the benefit of Lender), pursuant to the Collateral Assignment of Interest Rate Cap Agreement, all of its right, title and interest to receive any and all payments under the Interest Rate Cap Agreement, and shall deliver to Collateral Agent an executed counterpart of such Interest Rate Cap Agreement (which shall, by its terms, authorize the assignment to Collateral Agent (for the benefit of Lender) and require that payments be paid directly into an account pledged to Collateral Agent (for the benefit of Lender) as provided above in this Section 2.2.7). Provided no Event of Default has occurred and is continuing, amounts contained in the foregoing pledged account shall be released to Borrower on a monthly basis to the extent not applied toward debt service on the Loan.

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