Interest Rate Hedge. An interest rate swap or interest cap agreement providing interest rate protection for interest payable at a variable rate.
Interest Rate Hedge. In the event that Borrower desires to enter into an Interest Rate Hedge with respect to the Obligations, Borrower shall deliver to Agent a collateral assignment of such Interest Rate Hedge in form and substance reasonably satisfactory to Agent (together with resolutions, opinions and other matters as Agent may reasonably require).
Interest Rate Hedge. Borrower may enter into an Interest Rate Hedge for all or any portion of the Loan on such terms and conditions as are acceptable to Lender. At Borrower’s request, PNC Capital Markets will provide a proposal for such Interest Rate Hedge.
Interest Rate Hedge. The Obligors may hedge their interest rate exposure on all or a portion of the Term Loan by entering into an interest rate hedge agreement with Lender or another counterparty acceptable to Lender. Any documentation relating to such hedge shall contain standard provisions, including make whole provisions, acceptable to Lender.
Interest Rate Hedge. The term “INTEREST RATE HEDGE” means, with respect to any referenced PERSON, an interest rate swap, hedge, cap or collar agreement or similar arrangement between such PERSON and one or more financial institutions providing for the transfer or mitigation of interest risks either generally or under specific contingencies.
Interest Rate Hedge. The Issuer will not enter into any Interest Rate Hedge after the Closing Date unless (i) as of the date that such Interest Rate Hedge is entered into, the related Hedge Counterparty has the Hedge Required Ratings and (ii) such Interest Rate Hedge provides that, if the related Hedge Counterparty fails to have the Hedge Required Ratings, such Hedge Counterparty will take the actions that are specified in the Interest Rate Hedge entered into by the Issuer on the Closing Date. Promptly following the termination of any Interest Rate Hedge due to an Event of Default or Termination Event (as each such term is defined in such Interest Rate Hedge), the Issuer will use reasonable efforts to enter into a replacement interest rate hedge on terms similar to those of such terminated Interest Rate Hedge with an eligible hedge counterparty unless the Indenture Trustee sells the Collateral pursuant to Section 5.6(a)(iv).]
Interest Rate Hedge. During the term hereof, Borrower may enter into an interest rate hedge or cap with a counterparty acceptable to Lender.
Interest Rate Hedge. (a) To protect against fluctuations in interest rates during the term, pursuant to the terms of the Hedge Security Agreement, the applicable Collateral Pool Borrower shall make arrangements for a LIBOR-based instrument (“Interest Rate Hedge”) to be in place and maintained at all times with respect to any Variable Loan which has been funded and remains Outstanding. As set forth in the Hedge Security Agreement, the applicable Collateral Pool Borrower agrees to pledge its right, title and interest in the Interest Rate Hedge to Lender as additional collateral for the Indebtedness. Borrower shall provide an Interest Rate Hedge that is co-terminus with each Extension elected by Borrower. In order to calculate the Strike Rate for the required Interest Rate Hedge, Lender shall calculate the Net Operating Income, as determined by Lender in its reasonable discretion, based on the Gross Revenues actually collected for the Trailing 3 Month Period and based on the Operating Expenses, as determined by Lender in its reasonable discretion, for the Trailing 12 Month Period.
Interest Rate Hedge. Enter into an interest rate hedge with a ------------------- minimum of $20,000,000 for a period of not less than two (2) years. Such hedge will be executed with the Lender or a third party reasonably acceptable to the Lender.
Interest Rate Hedge. Within 60 calendar days after the Conversion Date (in the event that the Conversion Date shall occur), the Borrower shall have entered into an Interest Rate Hedge with a financial institution acceptable to the Agent for a period of at least two (2) years (i) in an amount equal to at least 100% of the Term Loans then outstanding, and (ii) with such other terms and conditions as shall be acceptable to the Agent (the “Required Interest Rate Hedge”). Documentation for the Required Interest Rate Hedge shall be in a standard International Swap Dealer Association Agreement, shall provide for the method of calculating the reimbursable amount of the provider’s credit exposure in a reasonable and customary manner, and shall be reasonably satisfactory to the Agent. If the Required Interest Rate Hedge meets the requirements of a Lender-Provided Interest Rate Hedge (contained in the definition of such term), the obligations thereunder shall be “Obligations” hereunder and secured by the Liens securing the Obligations hereunder. If such Required Interest Rate Hedge does not meet the requirements of a Lender-Provided Interest Rate Hedge, then the obligations thereunder shall not be “Obligations” hereunder and shall not be secured by the Liens securing the Obligations hereunder or otherwise require collateral security from the Loan Parties.
