Common use of Interest Rate Hedge Agreements Clause in Contracts

Interest Rate Hedge Agreements. (a) The Issuer shall enter into and maintain on or prior to the thirtieth (30th) day following August 1, 2005, and, upon any subsequent acquisition of Containers, within thirty (30) days thereafter, Interest Rate Hedge Agreements, with one or more Interest Rate Hedge Providers having a long-term senior unsecured indebtedness rated not less than “A-1” by S&P or “A3” by Mxxxx’x and which is reasonably satisfactory to the Agent, having aggregate notional principal balances of not less than seventy-five percent (75%), and not more than one hundred percent (100%), of Advances allocated (on a Net Book Value basis) to Eligible Containers subject to Finance Leases with a remaining tenor of more than three (3) years. Such Interest Rate Hedge Agreements shall protect the Issuer from fluctuations in interest rates which would increase the interest payments of the Issuer on Notes issued under this Loan Agreement; provided, however, this provision shall not require the Issuer to enter into any Interest Rate Hedge Agreement having an original notional value of less than Five Million Dollars ($5,000,000). All Interest Rate Hedge Providers shall be required to enter into agreements not to commence any case, proceeding or other action under any existing or future insolvency law seeking to have an order for relief entered with respect to the Issuer.

Interest Rate Hedge Agreements. (a) The Issuer shall enter into and maintain on or prior to the thirtieth (30th) day following August 1September 23, 20052003, and, upon any subsequent acquisition of Containers, within thirty (30) days thereafter, Interest Rate Hedge Agreements, with one or more Interest Rate Hedge Providers having a long-term senior unsecured indebtedness rated not less than “"A-1” " by S&P or “"A3” " by Mxxxx’x Xxxxx'x and which is reasonably satisfactory to the Agent, having aggregate notional principal balances of not less than seventy-five percent (75%), and not more than one hundred percent (100%), of Advances allocated (on a Net Book Value basis) to Eligible Containers subject to Finance Leases with a remaining tenor of more than three (3) years. Such Interest Rate Hedge Agreements shall protect the Issuer from fluctuations in interest rates which would increase the interest payments of the Issuer on Notes issued under this Loan Agreement; provided, however, this provision shall not require the Issuer to enter into any Interest Rate Hedge Agreement having an original notional value of less than Five Million Dollars ($5,000,000). All Interest Rate Hedge Providers shall be required to enter into agreements not to commence any case, proceeding or other action under any existing or future insolvency law seeking to have an order for relief entered with respect to the Issuer.

Interest Rate Hedge Agreements. (a) The Issuer shall enter into and maintain on or prior to the thirtieth (30th) day following August 1September 18, 20052002, and, upon any subsequent acquisition of Containers, within thirty (30) days thereafter, Interest Rate Hedge Agreements, with one or more Interest Rate Hedge Providers having a long-term senior unsecured indebtedness rated not less than “"A-1” " by S&P or “"A3” " by Mxxxx’x Moody's and which is reasonably satisfactory to the AgentXxxxt, having aggregate notional principal balances of not less than seventy-five percent (75%), and not more than one hundred percent (100%), of Advances allocated (on a Net Book Value basis) to (i) Eligible Containers subject to Finance Leases and (ii) Eligible Containers subject to Term Leases with a remaining tenor then expiry date of more longer than three one (31) yearsyear. Such Interest Rate Hedge Agreements shall protect the Issuer from fluctuations in interest rates which would increase the interest payments of the Issuer on Notes issued under this Loan Agreement; provided, however, this provision shall not require the Issuer to enter into any Interest Rate Hedge Agreement having an original notional value of less than Five Million Dollars ($5,000,000). All Interest Rate Hedge Providers shall be required to enter into agreements not to commence any case, proceeding or other action under any existing or future insolvency law seeking to have an order for relief entered with respect to the Issuer.

Interest Rate Hedge Agreements. (a) The Issuer Borrower shall enter into and maintain on or prior to the thirtieth (30th) day following August 1January 31, 2005, 2003 and, upon any subsequent acquisition of Containers, within thirty (30) days thereafter, Interest Rate Hedge Agreements, with one or more Eligible Interest Rate Hedge Providers having a long-term senior unsecured indebtedness rated not less than “A-1” by S&P or “A3” by Mxxxx’x and which is reasonably satisfactory to the Agent, Provider(s) having aggregate notional principal balances of not less than seventy-five percent (75%), and not more than one hundred percent (100%), of Advances allocated (on a Net Book Value basis) to (i) Eligible Containers subject to Finance Leases and (ii) Eligible Containers subject to Term Leases with a remaining tenor then expiry date of more longer than three one (31) yearsyear. Such Interest Rate Hedge Agreements shall protect the Issuer Borrower from fluctuations in interest rates which would increase the interest payments of the Issuer Borrower on Notes issued under this Loan Agreement; provided, however, this provision shall not require the Issuer Borrower to enter into any Interest Rate Hedge Agreement having an original notional value of less than Five Million Dollars ($5,000,000). All Eligible Interest Rate Hedge Providers shall be required to enter into agreements not to commence any case, proceeding or other action under any existing or future insolvency law seeking to have an order for relief entered with respect to the IssuerBorrower.