Rate Protection Agreements. Within 90 days following the Closing Date, the Term Loan Borrower will enter into interest rate swap, cap, collar or similar arrangements designed to protect the Term Loan Borrower against fluctuations in interest rates with respect to at least 50% of the outstanding principal amount of Term Loans for a period of at least three years from the Closing Date, on terms reasonably satisfactory to the Administrative Agent.
Appears in 4 contracts
Samples: Credit Agreement (Swift Holdings Corp.), Credit Agreement (Swift Holdings Corp.), Credit Agreement (Swift Transportation Co Inc)