Interest Rate Hedge Clause Samples

Interest Rate Hedge. Borrower may enter into an Interest Rate Hedge for all or any portion of the Loan on such terms and conditions as are acceptable to Lender. At Borrower’s request, PNC Capital Markets will provide a proposal for such Interest Rate Hedge.

Interest Rate Hedge. (a) To protect against fluctuations in interest rates during the term, pursuant to the terms of the Hedge Security Agreement, the applicable Collateral Pool Borrower shall make arrangements for a LIBOR-based instrument (“Interest Rate Hedge”) to be in place and maintained at all times with respect to any Variable Loan which has been funded and remains Outstanding. As set forth in the Hedge Security Agreement, the applicable Collateral Pool Borrower agrees to pledge its right, title and interest in the Interest Rate Hedge to Lender as additional collateral for the Indebtedness. Borrower shall provide an Interest Rate Hedge that is co-terminus with each Extension elected by Borrower. In order to calculate the Strike Rate for the required Interest Rate Hedge, Lender shall calculate the Net Operating Income, as determined by Lender in its reasonable discretion, based on the Gross Revenues actually collected for the Trailing 3 Month Period and based on the Operating Expenses, as determined by Lender in its reasonable discretion, for the Trailing 12 Month Period. (b) Lender acknowledges that Archstone has purchased certain forward commitment interest rate caps (the “Forward Caps”) on or about July 16, 2010, which shall be documented in accordance with Lender’s required form of interest rate cap agreement. Lender agrees that one or more of the Forward Caps shall be acceptable to be pledged as additional Collateral to satisfy Borrower’s obligations set forth in Section 1.08(a) for one or more Extensions under this Agreement subject to the satisfaction of the following conditions: (i) Each Forward Cap shall be pledged to Lender on or before October 31, 2012 pursuant to a Hedge Security Instrument entered into by the then current holder of such Forward Cap and any other Loan Documents or modifications to this Agreement that may be reasonably required by Lender to evidence the pledge of a Forward Cap; (ii) Such Forward Cap shall not have been previously assigned, pledged or otherwise encumbered; (iii) At the time of the pledge, the seller of such Forward Cap shall be a financial institution reasonably acceptable to Lender as a hedge counterparty; and (iv) At the time of the pledge, the Strike Rate, notional amount, and all other terms of such Forward Cap, by itself or in conjunction with one or more other Forward Caps or Interest Rate ▇▇▇▇▇▇, shall satisfy the requirements set forth in the form of Hedge Security Agreement attached as Exhibit O for an Interest Rate He...

Interest Rate Hedge. An interest rate swap or interest cap agreement providing interest rate protection for interest payable at a variable rate.

Interest Rate Hedge. In the event that Borrower desires to enter into an Interest Rate Hedge with respect to the Obligations, Borrower shall deliver to Agent a collateral assignment of such Interest Rate Hedge in form and substance reasonably satisfactory to Agent (together with resolutions, opinions and other matters as Agent may reasonably require).

Interest Rate Hedge. The term “INTEREST RATE HEDGE” means, with respect to any referenced PERSON, an interest rate swap, hedge, cap or collar agreement or similar arrangement between such PERSON and one or more financial institutions providing for the transfer or mitigation of interest risks either generally or under specific contingencies.

Interest Rate Hedge. The Obligors may hedge their interest rate exposure on all or a portion of the Term Loan by entering into an interest rate hedge agreement with Lender or another counterparty acceptable to Lender. Any documentation relating to such hedge shall contain standard provisions, including make whole provisions, acceptable to Lender.

Interest Rate Hedge. During the term hereof, Borrower may enter into an interest rate hedge or cap with a counterparty acceptable to Lender.

Interest Rate Hedge. The Issuer will not enter into any Interest Rate Hedge after the Closing Date unless (i) as of the date that such Interest Rate Hedge is entered into, the related Hedge Counterparty has the Hedge Required Ratings and (ii) such Interest Rate Hedge provides that, if the related Hedge Counterparty fails to have the Hedge Required Ratings, such Hedge Counterparty will take the actions that are specified in the Interest Rate Hedge entered into by the Issuer on the Closing Date. Promptly following the termination of any Interest Rate Hedge due to an Event of Default or Termination Event (as each such term is defined in such Interest Rate Hedge), the Issuer will use reasonable efforts to enter into a replacement interest rate hedge on terms similar to those of such terminated Interest Rate Hedge with an eligible hedge counterparty unless the Indenture Trustee sells the Collateral pursuant to Section 5.6(a)(iv).

Interest Rate Hedge. (i) Purchase, within sixty (60) days ------------------- after the Closing Date, an interest rate cap for a notional amount equal to $250,000,000 for the period ending on June 15, 1997 protecting the Borrower against increases of three month LIBOR (as such term is commonly used in the derivatives market) over 8.5% per annum and (ii) on the Payment Date immediately following such purchase pay to the Agent, together with any other amount due under Section 2.04(b)(i), an amount equal to 86.30604209% of the difference between (x) S2,704,019.64 minus (y) the purchase price of such cap, which amount shall be applied as set forth in Section 2.04(b)(i).