The Initial Hedge. To protect against fluctuations in interest rates, Borrower shall make arrangements for a LIBOR (as defined below) based hedge instrument ("Hedge") to be in place and maintained at all times with respect to the Loan. The Hedge for the initial DMBS shall be a Cap for a period beginning on the date of this Note and ending not earlier than the date which is the third anniversary of the date of this Note (the "Initial Hedge Period"). (b)
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Samples: Discount MBS Multifamily Note (Douglas Emmett Inc), Discount MBS Multifamily Note (Douglas Emmett Inc)
The Initial Hedge. To protect against fluctuations in interest rates, Borrower shall make arrangements for a LIBOR (as defined below) based hedge instrument ("Hedge") to be in place and maintained at all times with respect to the Loan. The Hedge for the initial DMBS shall be a Cap for a period beginning on the date of this Note and ending not earlier than the date which is the third anniversary of the date of this Note (the "Initial Hedge Period"). (b).
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The Initial Hedge. To protect against fluctuations in interest rates, Borrower shall make arrangements for a LIBOR (as defined below) based hedge instrument ("Hedge") to be in place and maintained at all times with respect to the Loan. The Hedge for the initial DMBS shall be a Cap for a period beginning on the date of this Note and ending not earlier than the date which is the third anniversary of the date of this Note (the "Initial Hedge Period"). ) (b)
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