Common use of Variable Rate Debt Clause in Contracts

Variable Rate Debt. Permit at any time less than 70% of the Total Outstanding Indebtedness to either (i) bear interest at a fixed rate through the then-current Maturity Date in accordance with its terms or (ii) be fully hedged through the then-current Maturity Date to produce a fixed or maximum rate through the purchase of an interest rate swap, cap or collar or other financial instrument then being used by publicly held real estate companies to hedge similar types of interest rate risk.

Variable Rate Debt. Permit at any time less than 70% of the Total ------------------ Outstanding Indebtedness to either (i) bear interest at a fixed rate through the then-current Maturity Date in accordance with its terms or (ii) be fully hedged through the then-current Maturity Date to produce a fixed or maximum rate through the purchase of an interest rate swap, cap or collar or other financial instrument then being used by publicly held real estate companies to hedge similar types of interest rate risk.

Variable Rate Debt. Permit at any time less than 70% of the Total ------------------ Outstanding Indebtedness to either (i) bear interest at a fixed rate through the then-current Maturity Date in accordance with its terms or (ii) be fully hedged through the then-current Maturity Date to produce a fixed or maximum rate through the purchase of an interest rate swap, cap or collar or other financial instrument then being used by publicly held real estate companies to hedge similar types of interest rate risk.