Common use of Hedging Facilities Clause in Contracts

Hedging Facilities. Not later than 60 days after the Effective Date the Borrowers will have entered into and thereafter maintain in full force and effect interest rate agreements, swaps, caps or other appropriate hedging arrangements in such amounts and on such terms as to convert to fixed rate or otherwise limit, in a manner satisfactory to the Agent, the floating interest rate risk on at least 662/3% in aggregate principal amount of all Term Loans outstanding from time to time for a period of no less than three years beginning on such date, all on terms and conditions reasonably satisfactory to the Required Lenders.

Hedging Facilities. Not later than 60 days after the Effective Date the Borrowers will have entered into and thereafter maintain in full force and effect interest rate agreements, swaps, caps or other appropriate hedging arrangements in such amounts and on such terms as to convert to fixed rate or otherwise limit, in a manner satisfactory to the Agent, the floating interest rate risk on at least 662/366 2/3% in aggregate principal amount of all Term Loans outstanding from time to time for a period of no less than three years beginning on such date, all on terms and conditions reasonably satisfactory to the Required Lenders.