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.

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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.

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

• 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.

• Borrower shall promptly execute and deliver to the counterparty of the Interest Rate Protection Agreement such confirmations and agreements as may be requested by such counterparty in connection with such Interest Rate Protection Agreement.

More Definitions of Interest Rate Protection

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. 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 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 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 means rate protected loans, options, customary swap or other yield protection and prepayment cost recovery agreements, with terms and conditions reasonably acceptable to Agent and MSI.

Interest Rate Protection. Interest Rate Agreements in an aggregate notional amount equal to the amount of the Loan (from a Lender ▇▇▇ Provider or from a financial institution whose long-term debt rating is equal to or greater than “A”) which will provide an all-in interest rate cap not to exceed 10% per annum and otherwise be reasonably acceptable to the Co-Lead Arrangers.

Interest Rate Protection. The Company shall maintain existing interest rate protection for periods to be agreed and otherwise in form and with parties acceptable to the Lenders for a notional amount to be agreed in the final loan documentation, but in no event less than 40% of the Credit Facility, and the obligations owing to any such party in connection with the Company's maintenance of interest rate protection (including interest rate protection up to the full notional amount of the Credit Facility) shall be secured on a pari passu basis with the obligations of the Lenders hereunder.