Common use of LIBOR Provisions Clause in Contracts

LIBOR Provisions. (a) The Borrower shall hedge the floating interest expense of the Loan evidenced by the Note by maintaining one or more interest rate swap agreements in an aggregate notional amount equal to the principal balance of the Note outstanding over such term that the hedge is executed and providing for a fixed rate acceptable to Lender, with the Borrower making fixed rate payments and receiving floating rate payments to offset changes in the variable interest expense of the Note, all upon such terms and conditions as shall be acceptable to Lender. To establish this interest rate hedge, the Borrower and the Lender have entered into the Hedging Contracts. (b) The Borrower hereby warrants and represents that it has received and reviewed the Derivative Risk Disclosure provided to the Borrower by the Lender. Borrower warrants and represents that it knows and understands the risks associated with the transactions contemplated by the Hedging Contracts, and has consulted with or had the opportunity to consult with legal, tax and accounting advisors regarding such risks.