Common use of Hedge Terms Clause in Contracts

Hedge Terms. Each Hedge shall: (a) provide for a notional principal amount equal at all times to Variable Advances Outstanding that are part of the Hedge Requirement Amount; (b) intentionally deleted; (c) in the case of Swaps, provide for a notional interest rate required to achieve a 1.40 Aggregate Debt Service Coverage Ratio for the Trailing 12 Months based upon a 30-year amortization period equal to the Three Month Libor Rate in effect from time to time (the “Swap Rate”); (d) in the case of Caps, provide for a notional interest rate not greater than the lowest interest rate that would result in an Aggregate Debt Service Coverage Ratio for the Variable Advances subject to the Cap of not less than 1.10 to 1 (the “Cap Interest Rate”), provided that the Aggregate Debt Service Coverage Ratio shall be calculated based on an interest rate equal to (i) the then current Three Month LIBOR Rate, plus (ii) the Variable Facility Fee, plus (iii) 300 basis points, and including any amortization payments in respect of such Loan; (e) in the case of Swaps, require the counterparty to make interest payments on the notional principal amount at a rate equal to the amount by which Coupon Rate exceeds the Swap Rate; (f) in the case of Caps, require the counterparty to make interest payments on the notional principal amount at a rate equal to the amount by which the then applicable Coupon Rate exceeds the Cap Interest Rate; (g) intentionally deleted; and (h) be evidenced, governed and secured on terms and conditions, and pursuant to documentation (the “Hedge Documents”), in form and content reasonably acceptable to ▇▇▇▇▇▇ Mae, and with a counterparty (a “Counterparty”) approved by ▇▇▇▇▇▇ ▇▇▇.

Hedge Terms. Each Hedge shall: (a) provide for a notional principal amount equal at all times equal to or greater than the Variable Advances Outstanding that are part of the Hedge Requirement Amount; (b) [intentionally deleted]; (c) in the case of Swaps, provide for a notional interest rate required to achieve a 1.40 Aggregate Debt Service Coverage Ratio for the Trailing 12 Months Month Period based upon a thirty (30-) year amortization period equal to the Three Three-Month Libor Rate in effect from time to time (the “Swap Rate”); (d) in the case of Caps, provide for a notional interest rate not greater than the lowest interest rate that would result in an Aggregate Debt Service Coverage Ratio for the Trailing 12 Month Period for the Variable Advances subject to the Cap of not less than 1.10 to 1 (the “Cap Interest Rate”), provided that the Aggregate Debt Service Coverage Ratio for the Trailing 12 Month Period shall be calculated based on an interest rate equal to (i) the then current Three Three-Month LIBOR Rate, plus (ii) the Variable Facility Fee, plus (iii) 300 basis points, and including any amortization payments in respect of such Loan; (e) in the case of Swaps, require the counterparty to make interest payments on the notional principal amount at a rate equal to the amount by which Coupon Rate exceeds the Swap Rate; (f) in the case of Caps, require the counterparty to make interest payments on the notional principal amount at a rate equal to the amount by which the then applicable Coupon Rate exceeds the Cap Interest Rate; (g) [intentionally deleted]; and (h) be evidenced, governed and secured on terms and conditions, and pursuant to documentation (the “Hedge Documents”), in form and content reasonably acceptable to ▇▇▇▇▇▇ Mae▇▇▇, and with a counterparty (a “Counterparty”) approved by ▇▇▇▇▇▇ ▇▇▇Mae.

Hedge Terms. Each Hedge shall: (a) provide for a notional principal amount equal at all times to Variable Advances Outstanding that are part of the Hedge Requirement Amount; (b) [intentionally deleted]; (c) in the case of Swaps, provide for a notional interest rate required to achieve a 1.40 Aggregate Debt Service Coverage Ratio for the Trailing 12 Months based upon a 30-year amortization period equal to the Three Month Libor Rate in effect from time to time (the “Swap Rate”); (d) in the case of Caps, provide for a notional interest rate not greater than the lowest interest rate that would result in an Aggregate Debt Service Coverage Ratio for the Variable Advances subject to the Cap of not less than 1.10 to 1 (the “Cap Interest Rate”), provided that the Aggregate Debt Service Coverage Ratio shall be calculated based on an interest rate equal to (i) the then current Three Month LIBOR Rate, plus (ii) the Variable Facility Fee, plus (iii) 300 basis points, and including any amortization payments in respect of such Loan; (e) in the case of Swaps, require the counterparty to make interest payments on the notional principal amount at a rate equal to the amount by which Coupon Rate exceeds the Swap Rate; (f) in the case of Caps, require the counterparty to make interest payments on the notional principal amount at a rate equal to the amount by which the then applicable Coupon Rate exceeds the Cap Interest Rate; (g) [intentionally deleted]; and (h) be evidenced, governed and secured on terms and conditions, and pursuant to documentation (the “Hedge Documents”), in form and content reasonably acceptable to ▇▇▇▇▇▇ Mae▇▇▇, and with a counterparty (a “Counterparty”) approved by ▇▇▇▇▇▇ ▇▇▇Mae.