Acceptable Derivatives Agreement definition

Acceptable Derivatives Agreement means a Derivatives Agreement with a term that extends at least until the anticipated Termination Date, in the form of any of the following, in each case with monthly settlement and having a notional amount equal to the aggregate outstanding principal amount of the Loans on the date of such Derivatives Agreement, with such notional amount declining automatically according to a schedule which is consistent with the then anticipated principal repayments of the Loans:
Sample 1Sample 2Sample 3
Acceptable Derivatives Agreement means a Derivatives Agreement with a term that extends at least until the anticipated Termination Date, in the form of any of the following, in each case with monthly settlement and having a notional amount equal to the aggregate outstanding principal amount of the Loans on the date of such Derivatives Agreement, with such notional amount declining automatically according to a schedule which is consistent with the then anticipated principal repayments of the Loans: (i) an interest rate cap agreement to be entered into at the then prevailing market rate, which for the avoidance of doubt, shall not result in any additional upfront cost to the Borrower or under the Transaction Documents; (ii) an interest rate swap agreement to be entered into at the then prevailing market rate, which for the avoidance of doubt, shall not result in any additional upfront cost to the Borrower or under the Transaction Documents; or
Sample 1
Acceptable Derivatives Agreement means a Derivatives Agreement entered into by the Borrower with an Eligible Hedge Counterparty with a term that extends at least until the then current Termination Date, or the average weighted lease maturity of the Portfolio and in the form of any of the following, in each case with monthly settlement and having a minimum notional amount as of the last day of each fiscal quarter in an amount equal to or greater than 50% of the aggregate principal amount of outstanding Revolving Loans (provided, however, that if 50% of the aggregate principal amount of outstanding Revolving Loans is less than $5,000,000, no Derivatives Agreement shall be required) which is:
Sample 1

Examples of Acceptable Derivatives Agreement in a sentence

  • Amounts received by the Borrower under any Acceptable Derivatives Agreement shall be deposited into the Collection Account and applied as set forth in Section 2.07(c).

  • The Borrower agrees that, upon the occurrence of any Hedging Event, it will enter into an Acceptable Derivatives Agreement in consultation with the Agent no later than the last day of the Required Time Period, using funds available under clause (y) of clause fifth of Section 2.07(c)(i), (ii) or (iii), as applicable.

  • The Borrower will, to the extent required by any Committed Lender, amend any Acceptable Derivatives Agreement which is then in effect at any time when there is (i) any increase in the outstanding principal amount of the Loans or (ii) any change in the contractual payment schedule of the Loans, so that such Acceptable Derivatives Agreement, as amended, would comply with the definition of “Acceptable Derivatives Agreement” if first entered into on the date of such amendment.

  • For the avoidance of any doubt, the failure of the Borrower to deliver such Acceptable Derivatives Agreement by (and including) December 15, 2022 will constitute an immediate Event of Default other than if such failure is due to the failure of the Agent and/or any Required Lender to respond to a request by the Borrower to approve such Acceptable Derivatives Agreement.

  • Amended and Restated Warehouse Loan Agreement Amounts received by the Borrower under any Acceptable Derivatives Agreement shall be deposited into the Collection Account and applied as set forth in Section 2.07(c).

  • Within 120 days following the Closing Date, the Borrower shall enter into an Acceptable Derivatives Agreement.

  • The Borrower hereby agrees that it shall enter into an Acceptable Derivatives Agreement pursuant to Section 2.14 of the Fifth Amended Loan Agreement as amended hereby, and obtain the approval of the Agent and the Required Lenders in connection therewith, on or before December 15, 2022.

  • From and after the expiration of the foregoing 90-day period, the Borrower shall cause an Acceptable Derivatives Agreement at all times to be maintained in full force and effect.

  • Amounts received by the Borrower under any Acceptable Derivatives Agreement shall be deposited into a Collection Account and applied as set forth in Section 6.13.

  • The Borrower agrees that, upon the occurrence of any Hedging Event, it will enter into an Acceptable Derivatives Agreement no later than the last day of the Required Time Period, using funds available under clause (y) of clause fifth of Section 2.07(c)(i), (ii) or (iii), as applicable.


More Definitions of Acceptable Derivatives Agreement

Acceptable Derivatives Agreement means a Derivatives Agreement entered into by the Borrower with an Eligible Hedge Counterparty with a term that extends at least until six (6) months before the earlier to occur of (a) the then current Termination Date, and (b) the average weighted lease maturity of the Portfolio and in the form of any of the following, in each case with monthly settlement and having a minimum notional amount as of the last day of each fiscal quarter in an amount equal to or greater than 50% of the aggregate principal amount of outstanding Revolving Loans (provided, however, that if 50% of the aggregate principal amount of outstanding Revolving Loans is less than $5,000,000, no Derivatives Agreement shall be required) which is:
Sample 1
Acceptable Derivatives Agreement means one or more Derivatives Agreements with a term that extends at least until the anticipated Termination Date, in the form of any of the following, in each case with monthly settlement and having a Derivatives Percentage greater than 85.0%, but less than 115.0% on the date of such Derivatives Agreement, with such notional amount declining automatically according to a schedule which is consistent with the then anticipated principal repayments of the Loans (such that the Derivatives Percentage remains greater than 85.0% and less than 115.0% during the anticipated principal repayment period of the Loans):
Sample 1

Related to Acceptable Derivatives Agreement

  • Derivatives Obligations of any Person means all obligations of such Person in respect of any rate swap transaction, basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction, cap transaction, floor transaction, collar transaction, currency swap transaction, cross-currency rate swap transaction, currency option or any other similar transaction (including any option with respect to any of the foregoing transactions) or any combination of the foregoing transactions.

  • Swap Agreement means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower or the Subsidiaries shall be a Swap Agreement.

  • Hedge Agreement means a “swap agreement” as that term is defined in Section 101(53B)(A) of the Bankruptcy Code.