Interest Swap Agreements. The Borrower will not, and will not permit any of the Subsidiary Guarantors to, enter into any Swap Agreement in respect of interest rates other than such Swap Agreements (i) with an Approved Counterparty, (ii) with a duration that does not extend beyond the Maturity Date and (iii) which effectively convert interest rates from floating to fixed, the notional amounts of which (when aggregated with all other Swap Agreements of the Borrower and the Subsidiary Guarantors then in effect effectively converting interest rates from floating to fixed) do not exceed 75% of the then outstanding principal amount of the Borrower’s Debt for borrowed money which bears interest at a floating rate, using the same index used to determine floating rates of interest on the indebtedness to be hedged.
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Samples: Credit Agreement (Jones Energy, Inc.), Credit Agreement (Jones Energy, Inc.), Credit Agreement (Jones Energy, Inc.)
Interest Swap Agreements. The Until the Merge Trigger Date, the Borrower will not, and will not permit any of the Subsidiary Guarantors to, enter into any Swap Agreement in respect of interest rates other than such Swap Agreements (i) with an Approved Counterparty, (ii) with a duration that does not extend beyond the Maturity Date and (iii) which effectively convert interest rates from floating to fixed, the notional amounts of which (when aggregated with all other Swap Agreements of the Borrower and the Subsidiary Guarantors then in effect effectively converting interest rates from floating to fixed) do not exceed 75% of the then outstanding principal amount of the Borrower’s Debt for borrowed money which bears interest at a floating rate, using the same index used to determine floating rates of interest on the indebtedness to be hedged.
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