Examples of Interest Rate Protection Product in a sentence
Notwithstanding the foregoing, in the event an Interest Rate Protection Product is entered into with respect to this Note which does not contemplate a 5.50% floor rate for the floating rate portion of the interest rate swap, then the 5.50% floor rate designated in the preceding sentence shall not apply while such Interest Rate Protection Product is in effect.
The Borrower shall promptly pay directly to the Administrative Agent for the benefit of the applicable Lender upon demand any Additional Interest that may be payable from time to time under any Interest Rate Protection Product.
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All Interest Rate Protection Products that Borrower utilizes shall comply with the following requirements: (i) the notional amount of such Interest Rate Protection Product shall not exceed the then outstanding balance of the Loan, but shall be in a minimum amount of $1,000,000, and (ii) the maturity of such Interest Rate Protection Product shall be the Maturity Date, unless otherwise agreed by the Lender.
Borrower shall compensate Lender or any Affiliate of Lender providing an Interest Rate Protection Product for any Additional Interest that may be payable thereunder in accordance with the terms of such Interest Rate Protection Product.