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:
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Acceptable Derivatives Agreement means a Derivatives Agreement with a term that extends at least until the anticipated date when the outstanding amount of all Loans are repaid in full and all Commitments have terminated, 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 with a cap rate which is no higher than 8.00%; (ii) an interest rate swap agreement under which the fixed rate paid by the Borrower, exclusive of credit spreads, will not exceed 8.00%; or (iii) any other Derivatives Agreement that is approved by (1) the Agent and the Required Lenders, in the case of a Hedging Event described in clause (A) of the definition of such term, or (2) all the Committed Lenders, in the case of a Hedging Event described in clause (B) of the definition of such term, in each case under which the Borrower is protected for increases in One Month LIBOR above 8.00%.
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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):
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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 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.

  • 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 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.

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

  • 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.

  • 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.

  • 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.

  • For the avoidance of doubt, the Borrower agrees to maintain such interest rate cap agreement(s) until the anticipated Revolving Termination Date; provided that such interest rate cap agreement may be amended or may be replaced by another Acceptable Derivatives Agreement in compliance with the terms hereof with the prior consent of the Agent and the Required Lenders.

  • For the avoidance of doubt, neither the Collateral Agent nor the Depositary shall have any obligations with respect to the Acceptable Derivatives Agreement other than to apply amounts in accordance with the related Monthly Report.


More Definitions of Acceptable Derivatives Agreement

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 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 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

Related to Acceptable Derivatives Agreement

  • Derivatives Contract means a contract between two parties (the “Receiving Party” and the “Counterparty”) that is designed to expose the Receiving Party to economic benefits and risks that correspond substantially to the ownership by the Receiving Party of a number of shares in the capital of the Company or securities convertible into such shares specified or referenced in such contract (the number corresponding to such economic benefits and risks, the “Notional Securities”), regardless of whether obligations under such contract are required or permitted to be settled through the delivery of cash, shares in the capital of the Company or securities convertible into such shares or other property, without regard to any short position under the same or any other Derivatives Contract. For the avoidance of doubt, interests in broad-based index options, broad-based index futures and broad-based publicly traded market baskets of stocks approved for trading by the appropriate governmental authority shall not be deemed to be Derivatives Contracts;

  • Specified Derivatives Contract means any Derivatives Contract that is made or entered into at any time, or in effect at any time now or hereafter, whether as a result of an assignment or transfer or otherwise, between or among any Loan Party and any Specified Derivatives Provider, and which was not prohibited by any of the Loan Documents when made or entered into.

  • Derivatives Counterparty as defined in Section 7.6.

  • Acceptable Counterparty means any counterparty to the Interest Rate Cap Agreement that has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, a long-term unsecured debt rating of at least “A+” by S&P and “Aa3” from Xxxxx’x, which rating shall not include a “t” or otherwise reflect a termination risk and is otherwise reasonably acceptable to Lender.

  • Specified Derivatives Obligations means all indebtedness, liabilities, obligations, covenants and duties of the Borrower or its Subsidiaries under or in respect of any Specified Derivatives Contract, whether direct or indirect, absolute or contingent, due or not due, liquidated or unliquidated, and whether or not evidenced by any written confirmation.

  • 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.

  • Commodity Hedging Agreement means any agreement with respect to a commodity swap or other agreement regarding the hedging of commodity purchase and sale exposure executed in connection with hedging the commodity purchase and sale exposure of the Borrower and its Subsidiaries, and any confirming letter executed pursuant to such commodity hedging agreement, all as amended, restated or otherwise modified.

  • Approved Counterparty means (a) any Lender or any Affiliate of a Lender and (b) any other Person whose long term senior unsecured debt rating is A-/A3 by S&P or Xxxxx’x (or their equivalent) or higher.

  • Commodity Agreement means any commodity futures contract, commodity swap, commodity option or other similar agreement or arrangement designed to protect against fluctuations in the price of commodities or to otherwise manage commodity prices or the risk of fluctuations in commodity prices.

  • Other Hedging Agreement means any foreign exchange contracts, currency swap agreements, commodity agreements or other similar agreements or arrangements designed to protect against the fluctuations in currency values.

  • 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.

  • Commodity Hedging Agreements means, in respect of a Person, any commodity purchase contract, commodity futures or forward contract, commodities option contract or other similar contract (including commodities derivative agreements or arrangements), to which such Person is a party or a beneficiary.

  • Bank Products Agreement any agreement pursuant to which a bank or other financial institution agrees to provide treasury or cash management services (including, without limitation, controlled disbursements, automated clearinghouse transactions, return items, netting, overdrafts and interstate depository network services).

  • Hedging Agreement Provider means any Person that enters into a Secured Hedging Agreement with a Credit Party or any of its Subsidiaries that is permitted by Section 6.1(d) to the extent such Person is a Lender, an Affiliate of a Lender or any other Person that was a Lender (or an Affiliate of a Lender) at the time it entered into the Secured Hedging Agreement but has ceased to be a Lender (or whose Affiliate has ceased to be a Lender) under the Credit Agreement.

  • Interest Rate Hedging Agreement means any interest rate protection agreement or other interest rate hedging arrangement.

  • Rate Hedging Agreement means an agreement, device or arrangement providing for payments which are related to fluctuations of interest rates, exchange rates or forward rates, including, but not limited to, dollar-denominated or cross-currency interest rate exchange agreements, forward currency exchange agreements, interest rate cap or collar protection agreements, forward rate currency or interest rate options, puts and warrants.

  • Interest Hedge Agreement means an interest rate protection agreement that may be entered into between the Borrower and an Interest Hedge Counterparty on or after the Closing Date, for the sole purpose of hedging interest rate risk between the portfolio of Collateral Loans and the Loans, as amended from time to time in accordance with the terms thereof, with respect to which the Rating Condition is satisfied.

  • Banking Services Agreement means any agreement entered into by the Borrower or any Subsidiary in connection with Banking Services.

  • Specified Hedging Agreement means any Interest Rate/Currency Hedging Agreement entered into by the Borrower or any Subsidiary Guarantor and any Qualified Counterparty.

  • Hedge Agreement means any interest rate, currency or commodity swap agreements, cap agreements, collar agreements, floor agreements, exchange agreements, forward contracts, option contracts or similar interest rate or currency or commodity hedging arrangements.

  • Interest Rate Hedge Agreement any interest rate swap agreement, interest rate cap, collar or other arrangement between the Borrower and a Hedge Provider, consisting of a “Master Agreement” in a form published by the International Swaps and Derivatives Association, Inc., together with a “Schedule” thereto in substantially such form as the Program Agent shall have approved, each “Confirmation” thereunder confirming the terms of each transaction thereunder and any credit support annex and schedule thereto.

  • Commodities Agreement means, in respect of a Person, any commodity futures contract, forward contract, option or similar agreement or arrangement (including derivative agreements or arrangements), as to which such Person is a party or beneficiary.

  • Netting Agreement means a netting agreement, master netting agreement or other similar document having the same effect as a netting agreement or master netting agreement and, as applicable, any collateral annex, security agreement or other similar document related to any master netting agreement or Permitted Contract.

  • Acceptable Collateral means: (i) a Letter of Credit; and/or (ii) a cash amount (in pounds) transferred to the credit of a Reserve Account;

  • Specified Hedge Agreement any Hedge Agreement entered into by the Borrower or any Subsidiary Guarantor and any Qualified Counterparty.

  • Net Hedging Obligations means, as of any date, the Termination Value of any such Hedging Agreement on such date.