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Common use of Interest Rate Protection Clause in Contracts

Interest Rate Protection. Within 90 days following the Closing Date, obtain and for a period of not less than three (3) years after the Closing Date maintain in effect, Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 3 contracts

Samples: Credit Agreement (Mueller Group, Inc.), Credit Agreement (Mueller Water Products, Inc.), Credit Agreement (Walter Industries Inc /New/)

Interest Rate Protection. Within 90 In the case of the Borrower, within 120 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal amount of the Loans is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effectyears, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 3 contracts

Samples: Term Loan Agreement (Eddie Bauer Holdings, Inc.), Term Loan Agreement (Eddie Bauer Holdings, Inc.), Term Loan Agreement (Eddie Bauer Holdings, Inc.)

Interest Rate Protection. Within In the case of the Borrower, within 90 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 25% of the aggregate principal amount of the Term Loans is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effectyears, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 2 contracts

Samples: First Lien Credit Agreement (Bioventus Inc.), First Lien Credit Agreement (Bioventus Inc.)

Interest Rate Protection. Within 90 180 days following the Closing Date, obtain and for a period of not less than three (3) years after the Closing Date maintain in effect(or such longer period as may be reasonably acceptable to the Administrative Agent), enter into, and thereafter maintain, Swap Contracts to the extent necessary to cause provide that at least fifty percent (50%) % of the Consolidated aggregate principal amount of the Funded Indebtedness on Debt of the Closing Date Company and the Restricted Subsidiaries is subject to either have a fixed interest rate or to have interest rate protection on for a minimum of three years, which Swap Contracts shall have terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 2 contracts

Samples: Credit Agreement (Readers Digest Association Inc), Credit Agreement (Direct Holdings Libraries Inc.)

Interest Rate Protection. Within In the case of the Borrower, within 90 days following after the Closing Effective Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal amount of any Subordinated Debt and the Loans is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effecttwo years, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered intoAgents.

Appears in 2 contracts

Samples: Credit Agreement (Virgin Mobile USA, Inc.), Credit Agreement (Virgin Mobile USA, Inc.)

Interest Rate Protection. Within In the case of the Borrower, within 90 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal amount of the Loans is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effectyears, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 2 contracts

Samples: Second Lien Credit Agreement (Bioventus Inc.), Second Lien Credit Agreement (Bioventus Inc.)

Interest Rate Protection. Within 90 In the case of the Borrowers, within 180 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal amount of the Term Loans is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effecttwenty-four months, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 2 contracts

Samples: Credit Agreement (Dollar Financial Corp), Credit Agreement (Dollar Financial Corp)

Interest Rate Protection. Within 90 In the case of the Borrower, within 60 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal amount of the Term Loans is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effectyears, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Investment Technology Group Inc)

Interest Rate Protection. Within 90 180 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal amount of the Term Loans is subject to interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effectyears, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate customary terms and conditions or to have interest rate protection on other terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Apollo Global Management LLC)

Interest Rate Protection. Within In the case of the Borrower, within 90 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal amount of the Term Loans is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effecttwo years, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (UniTek Global Services, Inc.)

Interest Rate Protection. Within 90 No later than ninety (90) days following the Closing Date, obtain the Borrower will enter into (and for a period of not less than three (3thereafter maintain) years after the Closing Date maintain in effect, Swap Contracts Agreements mutually acceptable to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either have a fixed interest rate or to have interest rate protection on terms Borrower and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for having a term of not less than one (1) year from at least three years for an aggregate notional principal amount equal to at least 50% of the date such Swap Contracts are entered intosum of the aggregate principal amount of all Term Loans then outstanding.

Appears in 1 contract

Samples: Credit Agreement (Styron Canada ULC)

Interest Rate Protection. Within 90 days following No later than the Closing Date120th day after the Effective Date or such later date as the Administrative Agent agrees, obtain Borrower shall enter into, and for a period minimum of not less than three (3) two years after the Closing Effective Date maintain in effectmaintain, Swap Contracts to the extent necessary to cause Agreements that result in at least fifty percent (50%) % of the Consolidated Funded aggregate principal amount of Borrower’s Indebtedness on for borrowed money as of the Closing Effective Date other than Revolving Loans being effectively subject to either have a fixed or maximum interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered intorate.

Appears in 1 contract

Samples: Credit Agreement (Sra International Inc)

Interest Rate Protection. Within In the case of the Borrower, within 90 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal amount of the Term Loans, the 6.75% Senior Notes, the 7% Senior Notes and the 7.125% Senior Notes and is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effect3 years, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Universal Health Services Inc)

Interest Rate Protection. Within 90 No later than 120 days following the Closing Date, obtain the Borrower will enter into (and for thereafter maintain) Swap Contracts having a period term of not less than three at least eighteen (318) years months after the Closing Date maintain in effectDate, Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either have establishing a fixed or maximum interest rate or to have interest rate protection on terms and conditions reasonably satisfactory acceptable to the Administrative Agent, which Swap Contracts shall be Agent for a term an aggregate amount equal to at least 50% of not less than one the sum of (1x) year from the date such Swap Contracts are entered intoaggregate principal amount of all Term Loans then outstanding plus (y) the aggregate principal amount of the Senior Subordinated Notes then outstanding.

Appears in 1 contract

Samples: Credit Agreement (KLIF Broadcasting, Inc.)

Interest Rate Protection. Within In the case of the Borrower, within 90 days following after the Closing Date, obtain enter into, and for a period of not less than three (3) years after the Closing Date maintain in effectthereafter maintain, Swap Contracts Agreements to the extent necessary to cause provide that at least fifty percent (50%) 40% of the Consolidated Funded Indebtedness on the Closing Date aggregate principal amount of Loans is subject to either have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Maxum Petroleum Holdings, Inc.)

Interest Rate Protection. Within In the case of the Borrower, within 90 days following after the Closing Restatement Effective Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 25% of the aggregate principal amount of the Term Loans is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effectyears, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: First Lien Credit Agreement (Bioventus Inc.)

Interest Rate Protection. Within In the case of the Borrower, within 90 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 45% of the aggregate principal amount of the Senior Subordinated Notes and the Term Loans is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effectyears, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Eye Care Centers of America Inc)

Interest Rate Protection. Within In the case of the Borrower, within 90 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 60% of the aggregate principal amount of the Consolidated Total Debt is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effect3 years, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Universal Health Services Inc)

Interest Rate Protection. Within 90 In the case of the Borrower, within 60 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal amount of the Senior Subordinated Notes and the Floating Term Loan Exposure is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effect, Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either have a fixed interest rate or to have interest rate protection on terms and conditions such shorter period as is otherwise reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (National Waterworks Inc)

Interest Rate Protection. Within 90 No later than 60 days following after the Closing DateEffective Date (or such longer period as the Administrative Agent may agree), obtain the U.S. Borrower will enter into Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal (USD Equivalent) amount of the sum of (a) the Senior Notes and (b) $47,000,000 is subject to either a fixed interest rate or interest rate protection for a period of not less than three years (3) years after collectively, the Closing Date maintain in effect“Required Swap Agreements”), which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Libbey Inc)

Interest Rate Protection. Within 90 In the case of the Parent Borrower, within 60 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal amount of Indebtedness projected to appear on the Parent Borrower’s balance sheet as of December 31, 2003 in accordance with GAAP is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effecttwo years, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Roper Industries Inc /De/)

Interest Rate Protection. Within In the case of the Borrower, within 90 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal amount of the Term Loans is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effectDate, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Infrasource Services Inc)

Interest Rate Protection. Within 90 60 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Contracts with a counterparty reasonably satisfactory to the Administrative Agent to the extent necessary to provide that at least 50% of the aggregate principal amount of the Term Loans is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effectyears, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Restructuring Support Agreement (Station Casinos Inc)

Interest Rate Protection. Within 90 ninety (90) days following the Closing Date, obtain the Borrower shall have in effect and thereafter keep in effect one or more interest rate Swap Contracts (the terms and other provisions of all such Swap Contracts to be subject to the prior written consent of the Administrative Agent) such that not less than 50% of the principal balance of all Funded Debt outstanding of the Borrower and its Subsidiaries is either at a fixed rate or is covered by such Swap Contracts, for a an aggregate period of not less than three (3) years after the Closing Date maintain in effect, Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness commencing on the Closing Date to either have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered intoDate.

Appears in 1 contract

Samples: Credit Agreement (Team Health Inc)

Interest Rate Protection. Within 90 In the case of the Borrower, within 60 days following after the Closing Restatement Effective Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal amount of the Term Loans and the Senior Unsecured Debt is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effectyears, copies of which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory Agreements shall promptly be delivered to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Wolverine World Wide Inc /De/)

Interest Rate Protection. Within 90 In the case of the Borrower, within 180 days following after the Closing Date, obtain enter into, and thereafter maintain for a period of not less than three (3) years after the Closing Date maintain in effectyears, Swap Contracts Agreements to the extent necessary to cause at least fifty percent (provide that 50%) % of the Consolidated Funded Indebtedness on aggregate outstanding principal amount of the Closing Date Loans and the First Lien Term Loans is subject to either have a fixed interest rate or to have interest rate protection on for a period of not less than three years, which Swap Agreements shall have terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered intoAgents.

Appears in 1 contract

Samples: Second Lien Credit Agreement (American Skiing Co /Me)

Interest Rate Protection. Within As promptly as practicable, and in any event within 90 days following after the Closing Date, obtain the Borrower will enter into, and thereafter for a period of not less than three (3) years after the Closing Date will maintain in effect, one or more Swap Contracts Agreements with such parties as shall be reasonably acceptable to the extent necessary to cause Administrative Agent, the effect of which is that at least fifty percent (50%) % of the aggregate principal amount of Consolidated Funded Indebtedness on the Closing Date Total Debt will be subject to either have interest at a fixed interest rate or to have the interest rate protection cost in respect of which will be fixed, in each case on terms and conditions reasonably satisfactory acceptable to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Crown Castle International Corp)

Interest Rate Protection. Within 90 In the case of the Borrower, within 60 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal amount of the Term Loans and the Senior Unsecured Debt are subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effectyears, copies of which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory Agreements shall promptly be delivered to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Wolverine World Wide Inc /De/)

Interest Rate Protection. Within In the case of the Borrower, enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that within 90 days following after the Closing Date, obtain Date at least 20% and within 180 days after the Closing Date at least 35% of the aggregate principal amount of the Term Loans is subject (taking into account any Swap Agreements from fixed to floating rates) to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after from the Closing Date maintain in effectDate, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Educate Inc)

Interest Rate Protection. Within 90 In the case of the Borrower, within 60 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least $100,000,000 of the aggregate principal amount of the Term Loans is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effecttwo years, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Home Interiors & Gifts Inc)

Interest Rate Protection. Within In the case of the Borrower, within 90 days following after the Closing Date, obtain enter into, and thereafter maintain, Swap Agreements to the extent necessary to provide that at least 50% of the aggregate principal amount of the Term Loans is subject to either a fixed interest rate or interest rate protection for a period of not less than three (3) years after the Closing Date maintain in effectyears, which Swap Contracts to the extent necessary to cause at least fifty percent (50%) of the Consolidated Funded Indebtedness on the Closing Date to either Agreements shall have a fixed interest rate or to have interest rate protection on terms and conditions reasonably satisfactory to the Administrative Agent, which Swap Contracts shall be for a term of not less than one (1) year from the date such Swap Contracts are entered into.

Appears in 1 contract

Samples: Credit Agreement (Coinstar Inc)