Common use of Interest Rate Swap Clause in Contracts

Interest Rate Swap. Within 30 days after the Closing Date, the Borrower shall have entered into an interest rate protection agreement satisfactory to the Lender for a notional amount of at least $3,000,000 and for a term of at least three years from the Closing Date. The Borrower is not required to enter into such agreement with the Lender.

Interest Rate Swap. Within 30 days after the Closing Date, after consultation with the Lender, the Borrower shall have entered may enter into an interest rate protection agreement satisfactory to the Lender for a notional amount of at least up to $3,000,000 and for a term of at least three years from the Closing Date20,000,000. The Borrower is not required to enter into such agreement with the Lender.