Interest Rate Protection Product means an interest rate hedging product, such as an interest rate cap or swap.
Interest Rate Protection Product means a floating-to-fixed derivative, or other acceptable “cap” or limitation obtained by a Borrower, at its expense, to protect such Borrower from increases in the applicable LIBOR Rate, in an amount approved by Lender.
Interest Rate Protection Product. As such term is defined in Section 5.2.
Examples of Interest Rate Protection Product in a sentence
If Borrower obtains an Interest Rate Protection Product from a party other than Lender, Borrower shall deliver to Lender such third party’s consent to such collateral assignment.
If any Borrower obtains an Interest Rate Protection Product from a party other than Lender, such Borrower shall deliver to Lender such third party’s consent to such collateral assignment.
All Interest Rate Protection Products that Borrower utilizes shall comply with the following requirements: (i) the notional amount of such Interest Rate Protection Product shall not exceed the then outstanding balance of the Loan, but shall be in a minimum amount of $1,000,000, and (ii) the maturity of such Interest Rate Protection Product shall be the Maturity Date, unless otherwise agreed by the Lender.
No Interest Rate Protection Product purchased from a third party may be secured by an interest in Borrower or the Project.
No Interest Rate Protection Product purchased from a third party may be secured by an interest in any Borrower or any Project.
More Definitions of Interest Rate Protection Product
Interest Rate Protection Product. Any interest rate swap, cap, collar or floor agreement, hedge device or other agreement or arrangement entered into by the Borrower and a Lender with respect to a notional amount equal to the Loan (and, if applicable, plus the Acquisition Loan and the Project Loan), or a portion thereof and with a fixed rate of interest payable by the Borrower.
Interest Rate Protection Product. An interest rate hedging product, such as a cap or swap. 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. Knowledge shall mean with respect to the Borrower and any of their respective Subsidiaries, the knowledge of any of Michael Ashner, Peter Braverman, Txxxxx Xxxxxxx, ox Xxxxxxx Xxxxxny, xx xxx Xxxxxn who xxxxx xx xxx xime replace any of the foregoing.
Interest Rate Protection Product from Lender or any Affiliate of Lender, Borrowers shall enter into such party’s customary form of agreement (“Interest Rate Agreement”) relating to such Interest Rate Protection Product. Any indebtedness incurred pursuant to an Interest Rate Agreement entered into by Borrowers and Lender shall constitute indebtedness evidenced by the Note and secured by the Mortgages and the other Loan Documents to the same extent and effect as if the terms and provisions of such Interest Rate Agreement were set forth herein, whether or not the aggregate of such indebtedness, together with the disbursements made by Lender of the proceeds of the Loan, shall exceed the face amount of the Note.
Interest Rate Protection Product means any interest rate protection agreement, foreign currency exchange agreement, commodity price protection agreement or other interest or currency exchange rate or commodity price hedging arrangement.
Interest Rate Protection Product means any agreement, device or arrangement designed to protect Borrower from fluctuations of interest rates, exchange rates or forward rates for the Loan, including, but not limited to, dollar denominated or cross currency exchange agreements, foreign currency exchange agreements, interest rate caps, collars or floors, forward rate currency or interest rate options, puts, warrants, swaps, swaptions, U.S. Treasury locks and U.S. Treasury options.
Interest Rate Protection Product means an interest rate hedging product, such as a cap or swap. 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. Knowledge shall mean with respect to the Borrower and any of their respective Subsidiaries, the knowledge of any of Xxxxxxx Xxxxxx, Xxxxx Xxxxxxxxx, Xxxxxx Xxxxxxx, or Xxxxxxx Xxxxxxx, or any Person who shall at any time replace any of the foregoing. Late Charge as defined in Section 2.5.6. Lease shall mean any lease relative to all or any portion of an Individual Property. Legal Requirements shall mean all applicable federal, state, county and local laws, by-laws, rules, regulations, codes and ordinances, and the requirements of any governmental agency or authority having or claiming jurisdiction with respect thereto, including, but not limited to, all Environmental Laws, and those applicable to zoning, subdivision, building, health, fire, safety, sanitation, the protection of the handicapped, and environmental matters and shall also include all orders and directives of any court, governmental agency or authority having or claiming jurisdiction with respect thereto. Lenders as defined in the Preamble. Lender Reply Period as defined in Section 13.26.
Interest Rate Protection Product means any transaction (including an agreement with respect thereto) now existing or hereafter entered into by Borrower which is a swap (including, without limitation, any agreement, contract or transaction that constitutes a “swap” under Section 1a(47) of the Commodity Exchange Act), forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions, and in each case approved by Lender.