Common use of The Initial Hedge Clause in Contracts

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)

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)

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).