Common use of Interest Rate Xxxxxx Clause in Contracts

Interest Rate Xxxxxx. The Borrower shall, at all times beginning thirty (30) days after an Interest Rate Hedge Trigger Event occurs and until the first business day after any period of sixty (60) consecutive days on which one month LIBOR is less than 2.50%, maintain in full force and effect one or more Eligible Interest Rate Xxxxxx which, together with the aggregate notional amount of such Eligible Interest Rate Xxxxxx, when taken together, at all times satisfy the requirements contained in the definition of Required Aggregate Notional Principal Amount, and shall comply with the terms thereof; provided that:

Appears in 5 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Tesla, Inc.), Loan and Security Agreement (Tesla, Inc.)

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Interest Rate Xxxxxx. The Borrower shall, at all times beginning thirty (30) days after an Interest Rate Hedge Trigger Event occurs and until the first business day Business Day after any period of sixty (60) consecutive days on which one month LIBOR is less than 2.50%, maintain in full force and effect one or more Eligible Interest Rate Xxxxxx which, together with the aggregate notional amount of such Eligible Interest Rate Xxxxxx, when taken together, at all times satisfy the requirements contained in the definition of Required Aggregate Notional Principal Amount, and shall comply with the terms thereof; provided provided, that:

Appears in 1 contract

Samples: Loan and Security Agreement (Tesla, Inc.)

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