Swap Option Sample Clauses

Swap Option. The Borrower may elect to enter into a Hedging Obligation whereby the Borrower shall swap the floating interest rate on the $5,250,000 Loan for a fixed interest rate on the full or a portion of the amount of the $5,250,000 Loan for a portion or all of the term of the $5,250,000 Loan. Prior to entering into any Hedging Obligation, the Borrower shall execute and deliver to Bank one or more Hedging Contracts in form and substance reasonably satisfactory to Bank. As used in this Section 2.5, the term "Bank" shall include Bank and any affiliate of Bank in its capacity as a party to a Hedging Obligation. All obligations of the Borrower in connection with Hedging Obligations including, without limitation, all amounts payable for termination of the Hedging Contracts and settlement of all swap transactions, shall be deemed Obligations of the Borrower. Without limiting the generality of the foregoing, all such amounts owing by the Borrower from time to time under the Hedging Contracts shall be added to the principal of the $5,250,000 Loan and shall be secured by the Loan Documents and the Collateral securing the Obligations of the Borrower. In no event shall the Collateral securing the Obligations of the Borrower be released for so long as the Hedging Contracts have not been terminated according to their terms, unless Bank has received substitute collateral sufficient in its sole discretion and expressly agreed to in writing by Bank which shall not be unreasonably conditioned, withheld or delayed. The Borrower acknowledges and agrees that: (a) certain fees and charges may be due and payable under the Hedging Contract in the event that a Hedging Obligation is terminated; (b) such Hedging Contract may have an effect on the Borrower's payment obligations and amounts due under the $5,250,000 Loan; and (c) the obligations contained in such Hedging Contract may not be separately stated in the Loan Documents. The Borrower shall indemnify and hold harmless Bank from any and all claims, demands, losses, liabilities, expenses, and obligations now or hereafter incurred by Bank arising from (i) any claim by any Person alleging that Bank is responsible for any act or omission of the Borrower or any third party in connection with the Hedging Obligations; (ii) the Borrower's breach of any Hedging Contract; (iii) the Borrower's violation of any law applicable to the Hedging Obligations; and (iv) any fraudulent, wrongful, or negligent act or omission of the Borrower, or any of its e...

Swap Option. RentoMojoprovides its Customerswith an option to swap the Products taken on rental basis on the following terms and conditions: a. Customer is eligible for swapping of Product after completion of minimum of 18 (eighteen) months continuous tenure; b. Swap option will be valid only on Products of equal or of higher value of the current Product used by the Customer; Time taken for swapping of the Product shall be 7 (seven) days from the receipt of the request by RentoMojo. Subject to the availability of the new Product requested by the Customer; andSwapping option shall be available only for the Products of the same category only.

Swap Option. The Sponsor may in the future request F▇▇▇▇▇▇ Mac’s consent to the delivery of an interest rate swap agreement (a “Swap”) instead of a Cap as an interest rate hedge to satisfy its obligations under this Article V; provided, however, (a) the fixed interest rate to be paid by the Sponsor with respect to such Swap shall not exceed the lesser of (i) 4% per annum or (ii) the applicable market rate at the time of pricing the Swap and (b) any such Swap shall meet all of F▇▇▇▇▇▇ Mac’s requirements for Swaps credit enhanced by F▇▇▇▇▇▇ Mac. Any such request shall be in writing delivered to F▇▇▇▇▇▇ Mac and be accompanied by a review fee of $5,000 payable to F▇▇▇▇▇▇ Mac, which fee shall be nonrefundable. The granting of any such request shall be subject to F▇▇▇▇▇▇ Mac’s re-pricing of the F▇▇▇▇▇▇ Mac Fee as determined by F▇▇▇▇▇▇ Mac in its sole discretion at such time. All documentation in connection with any such request (including any amendment to this Agreement entered into by the parties in connection with the granting of such request) shall be in form and substance acceptable to F▇▇▇▇▇▇ Mac. The Sponsor shall be responsible for paying any reasonable legal fees or expenses incurred by F▇▇▇▇▇▇ Mac in connection with such request, whether or not such request is approved.

Swap Option. 6.4.1. Pursuant to Clause 6.3, if the Option Sellers exercise their right to acquire the Respective OS Subscription Shares in consideration for transfer of the Respective Option Shares, the Acquirer shall issue and allot the OS Subscription Shares, free of all Encumbrances, to the respective Option Sellers. The Parties agree and acknowledge that: (a) the issue and allotment of the OS Subscription Shares by the Acquirer in the manner set out in this Agreement shall constitute full and final payment by the Acquirer to the Option Sellers for the OS Option Shares and shall entitle the Acquirer to the OS Option Shares free of all Encumbrances, and (b) Transfer of the OS Option Shares by the Option Sellers in the manner set out in this Agreement shall constitute full and final payment by the Option Sellers to the Acquirer for the OS Subscription Shares and shall entitle the Option Sellers to the OS Subscription Shares free of all Encumbrances.

Swap Option. If at any time within 24 months from the date of issue of the Series I CCPS, the Company issues the Equity Securities to any other Person (“Fresh Issue”), the holders of Series I CCPS shall have a right at their sole option to require the Company, by delivering a written notice

Swap Option. At any time upon prior written notice, Borrower may elect to convert all, but not less than all, of the Loan from a variable interest rate loan to a fixed interest rate loan. Borrower shall give written notice to Bank of its election to convert the Loan, and such notice shall specify the date on which Borrower wishes the fixed rate of interest determined. Bank shall use its best efforts to determine the fixed rate of interest on the date specified in Borrower's notice but Bank shall have no less than five (5) Business Days following receipt of Borrower's notice in which to quote the fixed interest rate to Borrower. Should Borrower elect to convert the Loan to the rate quoted by Bank, Bank will implement such conversion by entering into a swap contract (the "SWAP CONTRACT") pursuant to the terms of the 1992 International Swap Dealer's Association Master Loan and Appendices. The fixed interest rate may only become effective on a regularly scheduled interest payment date or a Principal Payment Date. The Swap Contract shall bear whatever interest rate is available at such time. Borrower shall pay all fees and expenses of Bank in connection with the Swap Contract, including Bank's reasonable administrative fees to cover its services in implementing the Swap Contract. In addition, should Borrower wish to prepay the Loan following such conversion to a fixed rate, Borrower shall pay any and all fees, costs and expenses incurred by Bank in connection with such prepayment, including, if necessary, implementation of a second Swap Contract to ensure that Bank suffers no loss or detriment arising out of Borrower's election to convert the Loan to a fixed interest rate as herein provided.

Swap Option