Common use of Secured Hedge Agreements Clause in Contracts

Secured Hedge Agreements. If at any time prior to the fourth anniversary of the Closing Date, the Eurodollar Rate (as calculated without giving effect to the Eurodollar Rate Floor) exceeds 1.50% for 30 consecutive days, then, at the request of the Administrative Agent, within 60 days of the last day of such 30-day period, the Borrower will enter into interest rate Swap Contracts designed to protect the Borrower against fluctuations in interest rates, such that, through December 21, 2015, at least 50% of the outstanding Indebtedness for borrowed money of Holdings and its Subsidiaries is either (a) subject to such interest rate Swap Contracts or (b) fixed-rate Indebtedness.

Secured Hedge Agreements. If at any time prior to the fourth anniversary of the Closing Date, the Eurodollar Rate (as calculated without giving effect to the Eurodollar Rate Floor) exceeds 1.50% for 30 consecutive days, then, at the request of the Administrative Agent, within 60 days of the last day of such 30-day period, the Borrower will enter into interest rate Swap Contracts designed to protect the Borrower against fluctuations in interest rates, such that, through December 21, 2015the Term Loan Maturity Date, at least 50% of the outstanding Indebtedness for borrowed money of Holdings and its Subsidiaries is either (a) subject to such interest rate Swap Contracts or (b) fixed-rate Indebtedness.