Examples of Closing Date Interest Rate in a sentence
In the event that Borrower receives Interest Rate Cap Funds (as defined in the Mortgage Loan Agreement) in accordance with Section 8.12(b) of the Mortgage Loan Agreement, Borrower shall cause such funds to be used to purchase the Closing Date Interest Rate Caps applicable to the Loan.
No later than the 90th day after the Closing Date, Borrower shall enter into, for a minimum of three years after the Closing Date, Interest Rate Protection Agreements acceptable to the Administrative Agent that result in an amount to be determined by the Administrative Agent of up to 25% of the aggregate principal amount of Terms Loans outstanding hereunder being effectively subject to a fixed or maximum interest rate acceptable to the Administrative Agent.
Borrower shall obtain, on or within 90 days after the Closing Date, Interest Rate Protection Agreements having terms and with counterparties reasonably satisfactory to the Administrative Agent as shall result in at least 50% of the aggregate principal amount of then outstanding Total Debt of Borrower either bearing interest at a fixed rate or being hedged for a period of at least two years from the date the initial Interest Rate Protection Agreements were obtained.
Borrower shall obtain, on or within 90 days after the Closing Date, Interest Rate Protection Agreements having terms and with counterparties reasonably satisfactory to the Administrative Agent and the Required Lenders as shall result in effectively limiting the interest cost to Borrower of 40% of the aggregate principal amount of then outstanding Term Loans for a period of at least three years from the date the initial Interest Rate Protection Agreements were obtained.
No later than 180 days following the Closing Date, Company will enter into (and thereafter maintain at least until the third anniversary of the Closing Date) Interest Rate Agreements on terms mutually acceptable to Company and Administrative Agent, after giving effect to which at least 50% of Company’s Funded Debt will bear interest at a fixed or maximum rate.