Common use of Interest Rate Protection Agreement Clause in Contracts

Interest Rate Protection Agreement. Notwithstanding anything to the contrary herein contained, Administrative Agent and the Lenders shall not, without Borrower’s prior written consent (unless a Default exists), take any action which may (i) cause the Interest Rate Protection Agreement to no longer be secured by the collateral which secures the Loan (on the same terms in all relevant respects and on a pari passu and pro rata basis with the principal of such Loan) or (ii) give rise to an Additional Termination Event under the Interest Rate Protection Agreement.

Interest Rate Protection Agreement. Notwithstanding anything to the contrary herein contained, Administrative Agent and the Lenders shall not, without Borrower’s prior written consent (unless a Default exists), take any action which may (i) cause terminate the Interest Rate Protection Agreement to no longer be secured by the collateral which secures the Loan (on the same terms other than in all relevant respects and on a pari passu and pro rata basis accordance with the principal of such Loan) or (ii) give rise to an Additional Termination Event under the Interest Rate Protection Agreementits terms.