Common use of Interest Rate Agreement Clause in Contracts

Interest Rate Agreement. The Borrowers (x) will, no later than the date occurring 60 days after the Initial Borrowing Date, enter into Interest Rate Agreements which cover for at least two years from the Initial Borrowing Date at least $125,000,000 of the outstanding Term Loans on terms reasonably satisfactory to the Agent and (y) may thereafter, enter into Interest Rate Agreements which cover additional amounts of outstanding Term Loans on terms (and in such amounts) reasonably satisfactory to the Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Zurn Industries Inc), Credit Agreement (Zurn Industries Inc)

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Interest Rate Agreement. The Borrowers (x) will, no later than the date occurring 60 days after the Initial Borrowing Date, enter into continue in effect Interest Rate Agreements entered into prior to the Restatement Effective Date which cover for at least two years from the Initial Borrowing Date at least $125,000,000 of the outstanding Term Loans on terms reasonably satisfactory to the Agent and (y) may thereafter, enter into Interest Rate Agreements which cover additional amounts of outstanding Term Loans on terms (and in such amounts) reasonably satisfactory to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Zurn Industries Inc)

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Interest Rate Agreement. The Borrowers Borrower (x) will, no later than the date occurring 60 days after the Initial Borrowing Date, enter into Interest Rate Agreements which cover for at least two years from the Initial Borrowing Date at least $125,000,000 30,000,000 of the outstanding Term Loans on terms reasonably satisfactory to the Agent Agents and (y) may thereafter, enter into Interest Rate Agreements which cover additional amounts of outstanding Term Loans on terms (and in such amounts) reasonably satisfactory to the Administrative AgentAgents.

Appears in 1 contract

Samples: Credit Agreement (Amtrol Inc /Ri/)

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