Interest Rate Cap Agreement definition
Interest Rate Cap Agreement means, as applicable, any interest rate cap agreement (together with the confirmation and schedules relating thereto) in form and substance satisfactory to Lender between Borrower and Counterparty or any Replacement Interest Rate Cap Agreement, in each case which also satisfies the requirements set forth in Section 2.8.
Interest Rate Cap Agreement means, as applicable, an Interest Rate Cap Agreement (together with the confirmation and schedules relating thereto) in form and substance reasonably satisfactory to Lender between Borrower and an Acceptable Counterparty or a Replacement Interest Rate Cap Agreement.
Interest Rate Cap Agreement means the 1992 International Swaps and Derivatives Association, Inc. Master Agreement (Multi Currency-Cross Border) dated as of September 16, 2004 (the "1992 ISDA Master Agreement"), including all schedules and confirmations thereto, between the Issuer and the Cap Provider, as the same may be amended, supplemented, renewed, extended or replaced from time to time.
Examples of Interest Rate Cap Agreement in a sentence
If such an Interest Rate Cap Agreement is not then commercially available, then Borrower may propose for Lender’s reasonable approval an alternative hedging instrument that would afford Lender substantially equivalent protection from increases in the interest rate; provided, however, that if Lender rejects Borrower’s proposal, then Lender will direct the alternative and Borrower shall comply in all material respects with such directive.
The initial Interest Rate Cap Agreement shall have a strike rate equal to the Initial Term Strike Rate.
All amounts paid under an Interest Rate Cap Agreement shall be deposited directly into the Lockbox Account.
Notwithstanding anything to the contrary in the Loan Documents, Borrower shall not otherwise be required as of the Effective Date to either (i) extend or maintain an Interest Rate Cap Agreement or (ii) achieve a Debt Yield threshold, in each case, as a condition to the modification and extension of the Maturity Date.
Borrower shall take all actions reasonably requested by ▇▇▇▇▇▇ to enforce ▇▇▇▇▇▇’s rights under the Interest Rate Cap Agreement in the event of a default by the counterparty thereunder and shall not waive, amend or otherwise modify any of its rights thereunder.
More Definitions of Interest Rate Cap Agreement
Interest Rate Cap Agreement. The interest rate cap agreement (Ref. No. 1368106) dated March 30, 2007 entered into by the Trustee on behalf of the Supplemental Interest Trust and the Cap Counterparty, which agreement provides for the monthly payment specified therein to the Trustee (for the benefit of the Certificateholders) commencing with the Distribution Date in December 2008 and ending on the Distribution Date in March 2012, by the Cap Counterparty, but subject to the conditions set forth therein together with any schedules, confirmations or other agreements relating thereto, attached hereto as Exhibit N.
Interest Rate Cap Agreement means the Confirmation and Agreement (together with the confirmation and schedules relating thereto), dated on or about the date hereof, between the Counterparty and Borrower, obtained by Borrower and collaterally assigned to Lender pursuant to this Agreement. After delivery of a Replacement Interest Rate Cap Agreement to Lender, the term Interest Rate Cap Agreement shall be deemed to mean such Replacement Interest Rate Cap Agreement. The Interest Rate Cap Agreement shall be governed by the laws of the State of New York and shall contain each of the following:
Interest Rate Cap Agreement. The interest rate cap agreement, dated the Closing Date between the Cap Trustee and the Interest Rate Cap Provider, including any schedule, confirmations, credit support annex or other credit support document relating thereto, and attached hereto as Exhibit I.
Interest Rate Cap Agreement means an agreement in form and substance reasonably satisfactory to Lender (together with the confirmation and schedules relating thereto), dated on or about the date hereof, between an Acceptable Counterparty and Borrower, obtained by Borrower and collaterally assigned to Lender pursuant to the Collateral Assignment of Interest Rate Cap Agreement. The Interest Rate Cap Agreement shall (a) be governed by the laws of the State of New York, (b) have at all times a notional amount equal to the then outstanding principal balance of the Loan, (c) have a term ending on the last day of the Interest Accrual Period during which the Initial Maturity Date occurs, and (d) require the interest rate cap provider to make payments on a Payment Date to or for the benefit of Borrower from time to time equal to the product of (i) the notional amount of such Interest Rate Cap Agreement and (ii) the excess, if any, of LIBOR (or in connection with any Converted Interest Rate Protection Agreement or Substitute Interest Rate Protection Agreement, the Base Rate or Alternate Rate, as applicable) over the LIBOR Cap Strike Rate. Following the delivery of a Replacement Interest Rate Cap Agreement to Lender pursuant to the terms of this Agreement, the term “Interest Rate Cap Agreement” shall be deemed to mean such Replacement Interest Rate Cap Agreement.
Interest Rate Cap Agreement. An interest rate cap contract referred to in the last paragraph of Section 8.11 and all related provisions of this Agreement.
Interest Rate Cap Agreement means the Confirmation and Agreement (together with the schedules relating thereto), dated on or about the date hereof, between the Counterparty and Borrower, obtained by Borrower and collaterally assigned to Lender pursuant to this Agreement. After delivery of a Replacement Interest Rate Cap Agreement to Lender, the term Interest Rate Cap Agreement shall be deemed to mean such Replacement Interest Rate Cap Agreement and such Replacement Interest Rate Cap Agreement shall be subject to all requirements applicable to the Interest Rate Cap Agreement. The Interest Rate Cap Agreement shall be governed by the laws of the State of New York and shall contain each of the following:
Interest Rate Cap Agreement. The confirmation dated April 1, 2004, evidencing a transaction between the Interest Rate Cap Agreement Counterparty and the Trustee (as governed by and subject to the terms and conditions which would be applicable if the parties had executed and delivered an ISDA Master Agreement with the attached schedule thereto), a form of which is attached hereto as Exhibit T. Interest Rate Cap Agreement Counterparty: WestLB AG, New York Branch.