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.

• Buyer and Seller agree that the grant of a security interest under this Article 11 shall not constitute or result in the creation or assumption by Buyer of any Retained Interest or other obligation of Seller or any other Person in connection with any Purchased Asset, or any Interest Rate Protection Agreement whether or not Buyer exercises any right with respect thereto.

• Notwithstanding the foregoing, this arbitration provision does not apply to disputes under or related to Interest Rate Protection Agreements.

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 either (x) such Indebtedness has a fixed rate of interest (and the Company or any Subsidiary has not thereafter entered into an interest rate swap agreement or similar agreement pursuant to which the Company or such Subsidiary has exchanged the obligation to pay the fixed rate of interest for an obligation to pay a floating rate of interest) or (y) the Company has entered into a Hedge Agreement or Hedge Agreements protecting against fluctuations in interest rates with respect thereto complying with the requirements of section 8.10(a) above.

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 Cap Date, on an amount at least equal to 60% of the Aggregate Net Investment as of such Interest Rate Cap 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 Cap Date and (ii) 4%.

Interest Rate Protection. Borrower shall purchase a 30-day LIBOR interest rate cap with a strike price of 7.5 %. 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 a 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. Agreement shall mean, as heretofore or hereafter may be applicable from time to time any interest rate protection agreements, now or hereafter executed by and between Borrower, Shelbourne REIT, Shelbourne GP, or Shelbourne OP and Fleet National Bank, and any and all existing or future extensions, renewals, modifications and amendments thereto, including, without limitation, the ISDA Master Agreement, the Schedule to the Master Agreement, and any and all confirmations for individual transactions executed under the foregoing agreements, or any other interest rate agreement related in any way to the Loan. Investment shall mean the acquisition of any real or tangible personal property or of any stock or other security, any loan, advance, bank deposit, money market fund, contribution to capital, extension of credit (except for accounts receivable arising in the ordinary course of business and payable in accordance with customary terms), or purchase or commitment or option to purchase or otherwise acquire real estate or tangible personal property or stock or other securities of any party or any part of the business or assets comprising such business, or any part thereof. Kestrel Agreements as defined in Section 8.9.

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. Agreement shall mean any interest rate exchange, collar, cap or similar agreement providing interest rate protection, entered into by Borrower in respect of the Loans. Lenders shall collectively mean Regions and Export Development Canada, and their respective successors and assigns, with each being a Lender. Lenders' Inspector shall mean independent Person(s) designated and approved by the Required Lenders to inspect and monitor the Project and the employees, agents and representatives of such Person(s). Letter of Credit and Letters of Credit shall have the meanings ascribed thereto in Section 4.1(a).