Common use of Interest Rate Agreements Clause in Contracts

Interest Rate Agreements. Borrower shall not permit the Companies’ Indebtedness that is not either subject to a fixed interest rate or hedged pursuant to an Interest Rate Agreement acceptable to Administrative Agent (“Variable Rate Debt”) to exceed twenty-five percent (25%) of Total Assets as of such date; provided that the Companies’ Variable Rate Debt may exceed twenty-five percent (25%) of Total Assets for a period of time not to exceed ninety (90) days if Borrower is diligently seeking Interest Rate Agreements with respect to such Indebtedness or is in the process of incurring fixed rate Indebtedness or an Equity Issuance in order to comply with the requirements of this Section 8.14.

Appears in 2 contracts

Samples: Credit Agreement (Prentiss Properties Trust/Md), Credit Agreement (Prentiss Properties Trust/Md)

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Interest Rate Agreements. Borrower shall not permit the Companies' Indebtedness that is not either subject to a fixed interest rate or hedged pursuant to an Interest Rate Agreement acceptable to Administrative Agent ("Variable Rate Debt") to exceed twenty-five percent (25%) of Total Assets as of such date; provided that the Companies' Variable Rate Debt may exceed twenty-five percent (25%) of Total Assets for a period of time not to exceed ninety (90) days if Borrower is diligently seeking Interest Rate Agreements with respect to such Indebtedness or is in the process of incurring fixed rate Indebtedness or an Equity Issuance in order to comply with the requirements of this Section 8.14.

Appears in 2 contracts

Samples: Credit Agreement (Prentiss Properties Trust/Md), Credit Agreement (Prentiss Properties Trust/Md)

Interest Rate Agreements. Borrower shall not permit the Companies’ Indebtedness that is not either subject to a fixed interest rate or hedged pursuant to an Interest Rate Agreement acceptable to Administrative Agent (“Variable Rate Debt”) to exceed twenty-five percent (25%) of Total Assets as of such date; provided that the Companies’ Variable Rate Debt may exceed twenty-five percent (25%) of Total Assets for a period of time not to exceed ninety (90) days if Borrower is diligently seeking Interest Rate Agreements with respect to such Indebtedness or is in the process of incurring fixed rate Indebtedness or an Equity Issuance in order to comply with the requirements of this Section 8.14.. Amended and Restated Credit Agreement 45 SECTION 9

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Interest Rate Agreements. Borrower shall not permit the Companies’ Indebtedness that is not either subject to a fixed interest rate or hedged pursuant to an Interest Rate Agreement acceptable to Administrative Agent (“Variable Rate Debt”) to exceed twenty-five percent (25%) of Total Assets as of such dateAssets; provided that the Companies’ Variable Rate Debt may exceed twenty-five percent (25%) of Total Assets for a period of time not to exceed ninety (90) days if Borrower is diligently seeking Interest Rate Agreements with respect to such Indebtedness or is in the process of incurring fixed rate Indebtedness or an Equity Issuance in order to comply with the requirements of this Section 8.14Section.

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

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Interest Rate Agreements. Borrower shall not permit the Companies’ Indebtedness that is not either subject to a fixed interest rate or hedged pursuant to an Interest Rate Agreement acceptable to Administrative Agent (“Variable Rate Debt”) to exceed twenty-five percent (25%) of Total Assets as of such dateAssets; provided that the Companies’ Variable Rate Debt may exceed twenty-five percent (25%) of Total Assets for a period of time not to exceed ninety (90) days if Borrower is diligently seeking Interest Rate Agreements with respect to such Indebtedness or is in the process of incurring fixed rate Indebtedness or an Equity Issuance in order to comply with the requirements of this Section 8.14.

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Interest Rate Agreements. Borrower shall not permit the Companies' Indebtedness that is not either subject to a fixed interest rate or hedged pursuant to an Interest Rate Agreement acceptable to Administrative Agent (“Variable Rate Debt”"VARIABLE RATE DEBT") to exceed twenty-five percent (25%) of Total Assets as of such date; provided that the Companies' Variable Rate Debt may exceed twenty-five percent (25%) of Total Assets for a period of time not to exceed ninety (90) days if Borrower is diligently seeking Interest Rate Agreements with respect to such Indebtedness or is in the process of incurring fixed rate Indebtedness or an Equity Issuance in order to comply with the requirements of this Section 8.14SECTION 8.15.

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

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