Interest Rate Protection definition

Interest Rate Protection means, with respect to Indebtedness of a Company, that either (a) such Company has obtained a fixed rate of interest on such Indebtedness, or (b) such Company has entered into a Hedge Agreement or Hedge Agreements, upon terms and conditions satisfactory to Agent.

Interest Rate Protection means any or all of the interest rate protection agreements that have been or may from time to time be entered into between the Borrowers and the Administrative Agent or another Lender in connection with the Credit Facility.

Interest Rate Protection means one or more agreements providing interest rate protection with respect to the interest payable by Borrowers in connection with the Loans, in form and substance satisfactory to Agent.

Examples of Interest Rate Protection in a sentence

• All agreements, statements, representations and warranties made by each Assignor herein or in any certificate or other instrument delivered by such Assignor or on its behalf under this Agreement shall be considered to have been relied upon by the Secured Creditors and shall survive the execution and delivery of this Agreement, the other Credit Documents and the Interest Rate Protection Agreements or Other Hedging Agreements regardless of any investigation made by the Secured Creditors or on their behalf.

• No Interest Rate Protection Agreement shall alter, impair, restrict, limit or modify in any respect the obligation of Borrower to pay interest on the Loan as and when the same becomes due and payable in accordance with the provisions of the Loan Documents.

• In the event that Borrower enters into an Interest Rate Protection Agreement with Lender, (i) such agreement shall be secured by the Property, and (ii) it shall be an Event of Default under the Loan if any event of default occurs under such Interest Rate Protection Agreement where Borrower (or its affiliate) is the defaulting party.

• This Agreement is made with full recourse to each Assignor and pursuant to and upon all the warranties, representations, covenants and agreements on the part of such Assignor contained herein, in the other Credit Documents, in the Interest Rate Protection Agreements or Other Hedging Agreements and otherwise in writing in connection herewith or therewith.

• The Gross Yield (Available Finance Charge Collections for the Series 1997-2 Certificates for the preceding Monthly Period (excluding payments received from Interest Rate Protection Agreements) divided by the Invested Amount of the Series 1997-2 Certificates as of the last day of the next preceding Monthly Period, multiplied by 365 days divided by number of calendar days in the month.) Effective November 2002 monthly period.

More Definitions of Interest Rate Protection

Interest Rate Protection. Within 90 days after the initial funding of the Senior Facilities, at least 50% of the Borrower's total funded indebtedness shall be fixed or have interest rate protection for a term of at least 3 years. Any Lender that provides interest rate protection shall be secured on a pari passu basis with the Lenders.

Interest Rate Protection means a transaction governed by an ISDA Master Agreement pursuant to which a counterparty will ensure for a three year period commencing on the related Interest Rate Protection Date, on an amount at least equal to 60% of the Aggregate Net Investment as of such Interest Rate Protection Date, the 30-day Eurodollar Rate will be less than or equal to the sum of (i) the 30-day Eurodollar Rate in effect on such Interest Rate Protection Date and (ii) 4%.

Interest Rate Protection. Borrower shall purchase a 30-day LIBOR interest rate cap with a strike price of 8.33%. Such interest rate cap shall be for the full Term and with respect to the full amount of the Mortgage Loan, and shall be pledged to Lender as additional collateral for the Mortgage Loan. The interest rate cap shall be purchased from an entity having a "AAA" rating from Standard & Poor's Rating Group and shall otherwise be on terms and conditions satisfactory to Lender. If the interest rate cap is purchased from Lender, Lender shall charge a market rate therefor.

Interest Rate Protection. The Company shall enter into Interest Hedge Agreements on or before December 31, 1998 to fix the rate of interest at a level reasonably acceptable to the Agent on at least $10,000,000 of the Revolving Advances and Term Loans for three years unless on or before December 31, 1998 the Company shall have received at least $15,000,000 in net cash proceeds from the sale of its capital stock or the issuance of any Debt.

Interest Rate Protection. At or beyond closing, Borrower may enter into a Swap Agreement or purchase other interest rate protection in form and substance satisfactory to both parties. Obligations under the agreement will be secured by the proposed collateral. As of 11/28/11, the indicative rate for a Swap would fix the rate at approximately TBD%. Commitment Fee: 1.00% or $300,000 due at close. Warrants: None.

Interest Rate Protection. The Borrower shall obtain interest rate protection in form and with parties acceptable to the Lenders for a notional amount and otherwise on terms to be agreed in the loan documentation.

Interest Rate Protection. With respect to Party B only: This Agreement constitutes a Secured Hedging Document as defined in the Credit Agreement. In addition, each Transaction entered into by Party B shall be in accordance with the provisions of the Credit Agreement relating to derivative transactions.