Subsequent Xxxxxx. Additional Xxxxxx (each, a "Subsequent Hedge") shall be required for the lesser of (i) three (3) years, or (ii) the remaining term of the Note, upon the expiration of the Cap in place for the Initial Hedge Period. It is the intention of the parties, and a condition of the Note, that Borrower shall obtain, and shall maintain at all times during the term of the Note, a Hedge in an aggregate notional principal amount equal to the outstanding principal balance of the Note on the date that the Hedge is purchased, covering the required term of the Note as set forth in this Section 7A. (c)
Subsequent Xxxxxx. Subject to the terms of Article XXI, additional Xxxxxx (each a “Subsequent Hedge”) shall be required (i) upon the expiration of the Hedge in place for the Initial Hedge Period and (ii) if and at such times as a new Variable Advance is funded that is part of the Hedge Requirement Amount, such Subsequent Hedge to be in effect for a period beginning on the day of the expiration of the Hedge in place for the Initial Hedge Period or on the Closing Date of the Future Advance Request, as the case may be, and ending not earlier than the then effective Variable Facility Termination Date with respect to such Variable Advance. It is the intention of the parties that the Borrower shall obtain, and shall maintain at all times during the term of this Agreement so long as any Variable Facility Advance is Outstanding with respect to the Hedge Requirement Amount, a Hedge or Xxxxxx in an aggregate notional principal amount equal to the Variable Advances Outstanding that are part of the Hedge Requirement Amount and covering the entire term of the Amended and Restated Variable Facility Commitment as set forth on the Summary of Credit Facility Structure and meeting the conditions set forth in Section 21.02.
Subsequent Xxxxxx. Additional Xxxxxx (each, a “Subsequent Hedge”) shall be required for the lesser of (i) three (3) years, or (ii) the remaining term of the Note, upon the expiration of the Cap (whether one or more) in place for the applicable Initial Hedge Period (it being understood that if the term of any such Cap is longer than the applicable Initial Hedge Period, then the three (3) year period provided in clause (i) shall commence on the actual termination date of the Cap). It is the intention of the parties, and a condition of the Note, that Borrower shall obtain, and shall maintain at all times during the term of the Note, a Hedge in an aggregate notional principal amount equal to the outstanding principal balance of the Note on the date that the Hedge is purchased, covering the required term of the Note as set forth in this Paragraph 7A.
Subsequent Xxxxxx. Additional Xxxxxx (each, a "Subsequent Hedge") shall be required if the aggregate sum of Revolving Advances Outstanding is increased to an amount that exceeds the aggregate notional principal amount of all Xxxxxx then in effect; such Subsequent Hedge shall be in effect prior to or concurrently with the Lender making any such Revolving Advance. It is the intention of the parties, and a condition of the Revolving Facility Commitment, that the Borrower shall obtain, and shall maintain at all times until the Revolving Facility Termination Date, a Hedge or Xxxxxx in an aggregate notional principal amount not less than the aggregate sum of all Revolving Advances Outstanding from time to time. If the aggregate sum of Revolving Advances Outstanding at any time is less than the aggregate notional principal amount of all Xxxxxx then in effect, the Borrower may amend and/or terminate one or more Xxxxxx to provide for a decrease in the aggregate notional principal amount of all such Xxxxxx then in place to an amount not less than the aggregate sum of all Revolving Advances then Outstanding, provided that the Lender gives its prior written approval to the documents reflecting the amendment or termination (which approval shall not be unreasonably withheld or delayed), and provided further that any such reduction shall not affect in any manner the Borrower's obligation to provide a Subsequent Hedge when required by this Section 23.1.
Subsequent Xxxxxx. A Subsequent Hedge shall be required for the remaining term of each Loan, upon the expiration of the Cap in place for the Initial Hedge Period or any Subsequent Hedge Period. A Subsequent Hedge must be fully executed and delivered on terms and conditions consistent with this Agreement. A Subsequent Hedge must have an effective date not later than the day following the last day of the Initial Hedge Period or any prior Subsequent Hedge Period. Any Subsequent Hedge must terminate on the earlier of (1) a date which is not earlier than the fifth (5th) anniversary of the effective date of such Subsequent Hedge, and (2) the Termination Date (the “Subsequent Hedge Period”). Notwithstanding this Section, if a Hedge unexpectedly and unavoidably terminates on a date other than its scheduled expiration date, the Borrower shall, within ten days of such termination, obtain a new Hedge satisfying the requirements of this Section.”
Subsequent Xxxxxx. Subject to the terms of Article 21, additional Xxxxxx (each a “Subsequent Hedge”) shall be required (i) upon the expiration of the Hedge in place for the Initial Hedge Period and (ii) if and at such times as a new Variable Advance is funded that is part of the Hedge Requirement Amount, such Subsequent Hedge to be in effect for a period beginning on the day of the expiration of the Hedge in place for the Initial Hedge Period or on the Closing Date of the Future Advance Request, as the case may be, and ending on a date acceptable to the Lender. It is the intention of the parties that the Borrower shall obtain, and shall maintain at all times during the term of this Agreement so long as any Variable Advance is Outstanding with respect to the Hedge Requirement Amount, a Hedge or Xxxxxx in an aggregate notional principal amount equal to the Variable Advances Outstanding that are part of the Hedge Requirement Amount and covering the entire term of the Variable Facility Commitment as set forth on the Summary of Credit Facility Structure and meeting the conditions set forth in Section 21.02.
Subsequent Xxxxxx. A Subsequent Hedge shall be required for the remaining term of the Loans, upon the expiration of the Cap in place for the Initial Hedge Period. Any Subsequent Hedge shall be for a period beginning not later than the expiration of the prior Cap and ending on the Termination Date.
