Common use of Interest Rate Protection Agreements Clause in Contracts

Interest Rate Protection Agreements. The Borrower shall, within 30 days of the Closing Date, have in place interest rate protection agreements, in form and substance acceptable to the Agent, protecting against fluctuations in interest rates which agreements shall provide coverage for a period of three (3) years, and in a notional amount of at least fifty percent (50%) of the outstanding principal amount of the Term Loans. 7.15

Appears in 2 contracts

Samples: Credit Agreement (Chattem Inc), Credit Agreement (Chattem Inc)

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Interest Rate Protection Agreements. The Borrower shall, within 30 60 days of subsequent to the Closing Date, have in place enter into and maintain interest rate protection agreements, in form and substance acceptable to the AgentAgents, protecting against fluctuations in interest rates which agreements shall provide coverage for a period of three (3) yearsexpiring no earlier than 3 years from the date such interest rate protection agreements are purchased, and in a notional amount of at least fifty percent (50%) of the outstanding principal amount of the Term Loans. 7.15not less than $125,000,000.

Appears in 1 contract

Samples: Credit Agreement (Us Can Corp)

Interest Rate Protection Agreements. The Borrower Borrowers shall, within 30 60 days of the Closing Date, have in place enter into interest rate protection agreements, in form and substance acceptable to the Agent, agreements protecting against fluctuations in interest rates rates, in amounts and for periods of time satisfactory to the Administrative Agent, which agreements shall provide for coverage in a minimum amount of at least 25% of the funded initial facility for a period of at least three (3) years, and in a notional amount of at least fifty percent (50%) of the outstanding principal amount of the Term Loans. 7.15.

Appears in 1 contract

Samples: Credit Agreement (Racing Champions Corp)

Interest Rate Protection Agreements. The Borrower shall, within 30 Within ninety (90) days of after the Closing Date, have in place the Borrower shall enter into and maintain interest rate protection agreements, in form and substance acceptable to the Administrative Agent, - 80 - 87 protecting against against, for a period expiring no earlier than three years from the date such interest rate protection agreement is purchased, fluctuations in interest rates which agreements shall provide coverage for a period of three (3) years, and in a notional amount of at least fifty percent (50%) of the outstanding principal amount of the Term Loans. 7.15.

Appears in 1 contract

Samples: Credit Agreement (Ivex Packaging Corp /De/)

Interest Rate Protection Agreements. The Borrower shallagrees that it will, within 30 days of after the Closing Date, have enter into and maintain in place interest rate protection agreementsfull force and effect through September 30, in form and substance acceptable to the Agent, protecting against fluctuations in interest rates which agreements shall provide coverage for 2000 Interest Rate Protection Agreements with a period Lender (or an Affiliate of three (3a Lender) years, and in a notional amount of covering at least fifty percent (50%) of the outstanding aggregate principal amount of the Term Loans. 7.15Indebtedness under the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (York Group Inc \De\)

Interest Rate Protection Agreements. The Borrower shall, within 30 60 days of subsequent to the Closing Date, have in place enter into and maintain interest rate protection agreements, in form and substance acceptable to the Administrative Agent, protecting against fluctuations in interest rates which agreements shall provide coverage for a period of expiring no earlier than three (3) yearsyears from the date such interest rate protection agreements are purchased, and in a notional amount of at least fifty percent (50%) of the outstanding principal amount of the Term Loans. 7.15$50,000,000.

Appears in 1 contract

Samples: Credit Agreement (Medical Staffing Network Holdings Inc)

Interest Rate Protection Agreements. The Borrower shallshall obtain, on or within 30 90 days of after the Closing Date, have in place interest rate protection agreements, in form Interest Rate Protection Agreements having terms and substance acceptable with counterparties reasonably satisfactory to the Agent, protecting against fluctuations Administrative Agent and the Required Lenders as shall result in effectively limiting the interest rates which agreements shall provide coverage cost to Borrower of 40% of the aggregate principal amount of then outstanding Term Loans for a period of three (3) years, and in a notional amount of at least fifty percent (50%) of three years from the outstanding principal amount of date the Term Loans. 7.15initial Interest Rate Protection Agreements were obtained.

Appears in 1 contract

Samples: Credit Agreement (Imco Recycling Inc)

Interest Rate Protection Agreements. The Borrower shall, within 30 days of the Closing Date, have in place enter into interest rate protection agreements, in form and substance acceptable to the Agent, protecting against fluctuations in interest rates which agreements shall provide coverage for a period of three (3) years, and in a notional amount of at least fifty percent (50%) of the outstanding principal amount $15 million of the Term Loans. 7.15.

Appears in 1 contract

Samples: Credit Agreement (Chattem Inc)

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Interest Rate Protection Agreements. The Borrower shall, within 30 Within ninety (90) days of after the Closing Date, have in place the Borrower shall enter into and maintain interest rate protection agreements, in form and substance acceptable to the Administrative Agent, protecting against against, for a period expiring no earlier than three years from the date such interest rate protection agreement is purchased, fluctuations in interest rates which agreements shall provide coverage for a period of three (3) years, and in a notional amount of at least fifty percent (50%) of the outstanding principal amount of the Term Loans. 7.15.

Appears in 1 contract

Samples: Credit Agreement (Ivex Packaging Corp /De/)

Interest Rate Protection Agreements. The Borrower shall, within 30 60 days of the Closing Date, have in place enter into interest rate protection agreements, in form and substance acceptable satisfactory to the Agent, protecting against fluctuations in interest rates rates, which agreements shall provide coverage for in an original principal amount equal to at least $45,000,000 with a period final maturity of at least three (3) years, and in a notional amount of at least fifty percent (50%) of the outstanding principal amount of the Term Loans. 7.15.

Appears in 1 contract

Samples: Credit Agreement (Pluma Inc)

Interest Rate Protection Agreements. The Borrower shall, within 30 days of the Closing Date, have in place interest rate protection agreements, in form and substance acceptable to the Agent, protecting against fluctuations in interest rates which agreements shall provide coverage for a period of three (3) years, and in a notional amount of at least fifty percent (50%) of the outstanding principal amount of the Term Loans. 7.15.

Appears in 1 contract

Samples: Credit Agreement (Chattem Inc)

Interest Rate Protection Agreements. The Borrower shall, within 30 Within thirty (30) days of the Closing Date, have in place the Borrower shall enter into interest rate protection agreements, in form and substance acceptable to the Agent, agreements (protecting against fluctuations in interest rates rates) reasonably acceptable to the Administrative Agent, which agreements shall provide coverage in an amount equal to 50% of Consolidated Funded Indebtedness on the Closing Date and for a period of three (3) years, and in a notional amount duration of at least fifty percent (50%) of the outstanding principal amount of the Term Loans. 7.15thirty months.

Appears in 1 contract

Samples: Credit Agreement (Online Resources Corp)

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