Interest Rate Management Sample Clauses

Interest Rate Management. 87 7.13 Intercompany Indebtedness of Joint Ventures....................................................87 7.14 Upstreaming of Income from Joint Ventures......................................................88 7.15
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Interest Rate Management. The Credit Parties shall at all times cause at least 40% of total Funded Indebtedness of the Consolidated Parties to bear interest at a fixed rate of interest.
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Interest Rate Management. Attached hereto as Exhibit C is Lender's standard form of forward rate lock agreement (the "Rate Lock Agreement"). The defined terms used in this Section 5.1(x) and not otherwise defined herein shall have the meanings set forth in the Rate Lock Agreement. If at any time during the term of the Loan the hypothetical loan constant determined by using the Benchmark Treasury Rate, a loan spread of 200 basis points, and assuming a twenty five year amortization schedule would exceed 10.09%, then Borrower will be required to immediately lock an interest rate pursuant to the Rate Lock Agreement for an Anticipated Loan Amount equal to the outstanding balance of the Loan, for an effective term of ten years, and for a Rate Lock Period expiring no earlier than the Stated Maturity Date. The "number of months forward" for purposes of the Rate Lock Agreement shall be the number of months from the time of the rate lock to the Stated Maturity Date. Borrowers agree to enter execute a Rate Lock Agreement reflecting the terms of the rate lock upon notice from Lender but all references to a Rate Lock Deposit shall be deleted and the fee shall be four basis points per month rather than eight. Borrower hereby irrevocably designates NACC as its attorney-in-fact to lock its interest rate in accordance with the foregoing and do all things necessary and required in order to effectuate and consummate the rate lock and such rate lock shall be governed by the terms of the Rate Lock Agreement with the same effect as if Borrower and NACC had actually executed it. Any such agreement shall be considered a Loan Document hereunder and shall be secured by all the Mortgages and covered by the terms of the Guaranties. Borrower acknowledges and agrees that although Lender has the right to unilaterally lock the rate at any time the hypothetical debt service constant exceeds 10.09%, Lender shall have no liability to Borrowers if it does not lock such rate or if it does not lock the rate at the lowest possible rate provided that Lender agrees to act in good faith to lock the rate at a market rate at the time the rate lock occurs. Borrower further acknowledges that the rate locked will affect the pricing on any permanent financing that may be available from Lender in order to repay this Facility. If Borrower obtains permanent financing from Lender the hedge position pursuant to the Rate Lock Agreement can be used in connection with such permanent financing. If Borrower repays the Loan and does not ob...
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Interest Rate Management. Commencing no later than sixty (60) days after the Initial Borrowing Date and until the second anniversary of the Initial Borrowing Date, the Borrower shall hedge an amount equal to 35% of the principal amount of the outstanding Term Loans at any time on terms reasonably satisfactory to the Administrative Agent with a counterpart reasonably acceptable to the Administrative Agent.
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Interest Rate Management. If the Investor requires in its reasonable judgment, the Company shall purchase as a Project expense hedge products, end loan commitments or other interest rate protection mechanisms.
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Interest Rate Management. Duration is a measure of the interest rate sensitivity of an asset value. The durations of the assets and liabilities are obtained as weighted averages of the individual items. A duration gap of zero implies a hedged position against interest rate risk. A conservative bank will attempt to set its duration gap to zero. The positive duration gap means that the bank is exposed to rising interest rates. Implementing the desired duration gap without derivatives is difficult. The long position in a swap or FRA transaction will lengthen liability duration and decrease duration gap. The negative duration gap means that the bank is exposed to falling interest rates. The short position in a swap or FRA transaction will lengthen asset duration and increase duration gap. The notional capital of a FRA or swap transaction is derived using the following equation:
Sample 1
Interest Rate Management. Within 30 days after the Closing Date the interest accruing on at least 50% of the principal amount of the Borrower’s Funded Debt must be fixed rate on terms and for a period of time reasonably satisfactory to the Administrative Agent.
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Related to Interest Rate Management

  • Interest Rate Protection No later than the 90th day after the Closing Date, the Borrower shall enter into, and for a minimum of three years thereafter maintain, Hedging Agreements acceptable to the Administrative Agent that result in at least 50% of the aggregate principal amount of its funded long-term Indebtedness being effectively subject to a fixed or maximum interest rate acceptable to the Administrative Agent.

  • Interest Rate Protection Agreement As of the date hereof, Borrower has entered into, made all payments required under, and satisfied all conditions precedent to the effectiveness of, an interest rate protection agreement that satisfies all of the following conditions (such interest rate protection agreement together with (i) any extension thereof or (ii) any other interest rate protection agreement entered into pursuant to Section 2.8, being referred to herein as the “Interest Rate Protection Agreement”):

  • Interest Rate Cap Agreement (a) The Interest Rate Cap Agreement in effect on the Closing Date has a LIBOR strike price equal to the Strike Price and a scheduled termination date of the Initial Maturity Date. The Interest Rate Cap Agreement (i) is in a form and substance reasonably acceptable to Lender, (ii) is with an Acceptable Counterparty, (iii) directs such Acceptable Counterparty to pay directly to an account pledged to Lender any amounts due Borrower under such Interest Rate Cap Agreement unless and until otherwise instructed by Lender (it being agreed as between Lender and Borrower that Lender will so instruct the Counterparty at such time as the Debt shall no longer exist, provided that the Debt shall be deemed to exist if the Properties are transferred by judicial or non-judicial foreclosure or deed-in-lieu thereof), and (iv) has a notional amount at least equal to the principal balance of the Loan outstanding on the Closing Date (it being understood that the notional amount of the Interest Rate Cap Agreement may be reduced, from time to time, as the principal balance of the Loan is reduced (in the amounts of such reduction in principal) pursuant to clause (g) below). Borrower shall collaterally assign to Collateral Agent (for the benefit of Lender), pursuant to the Collateral Assignment of Interest Rate Cap Agreement, all of its right, title and interest to receive any and all payments under the Interest Rate Cap Agreement, and shall deliver to Collateral Agent an executed counterpart of such Interest Rate Cap Agreement (which shall, by its terms, authorize the assignment to Collateral Agent (for the benefit of Lender) and require that payments be paid directly into an account pledged to Collateral Agent (for the benefit of Lender) as provided above in this Section 2.2.7). Provided no Event of Default has occurred and is continuing, amounts contained in the foregoing pledged account shall be released to Borrower on a monthly basis to the extent not applied toward debt service on the Loan.

  • Interest Rate Computations All interest hereunder shall be computed on the basis of a year of 360 days, unless such computation would exceed the Highest Lawful Rate, in which case interest shall be computed on the basis of a year of 365 days (or 366 days in a leap year), except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error, and be binding upon the parties hereto.

  • Interest Rate Hedging In order to take advantage of the current favorable interest-rate climate, the Commission agrees that the actual reasonable cost of PG&E’s interest rate hedging activities with respect to the financing necessary for the Settlement Plan shall be reflected and recoverable in PG&E’s retail gas and electric rates without further review.

  • Interest Rate Protection Agreements (a) Within ninety days after the Closing Date, the Borrower shall enter into and thereafter maintain interest rate protection agreements (protecting against fluctuations in interest rates) having a term of at least three years from the Closing Date, establishing a fixed or maximum interest rate of 10.5% per annum for an aggregate notional amount equal to at least 50% of the aggregate principal amount of all Term Loans then outstanding.

  • Interest Rate Risk Management Instruments (a) Set forth on Schedule 2.26(a) is a list as of the date ---------------- hereof of all interest rate swaps, caps, floors and option agreements and other interest rate risk management arrangements to which Seller or any of the Seller Subsidiaries is a party or by which any of their properties or assets may be bound.

  • Interest Rate Agreements 13 Investment..................................................................13

  • Interest Rates Except as provided in Section 2.6(c), all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest as follows:

  • Interest Rate Determination (a) The Administrative Agent shall give prompt notice to the Borrower and the Lenders of the applicable interest rate determined by the Administrative Agent for purposes of Section 2.11(a) or (b), and, if applicable, the rate for the purpose of determining the applicable interest rate under Section 2.11(c).

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