Common use of Interest Rate Protection Clause in Contracts

Interest Rate Protection. No later than the 90th day after the Closing Date, the Borrower shall enter into, and for a minimum of two years thereafter maintain, interest rate Hedging Agreements that result in no less than 50% of the sum of the aggregate principal amount of (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively subject to a fixed or maximum interest rate.

Appears in 2 contracts

Samples: Lease Agreement (Goodman Global Group, Inc.), Term Loan Credit Agreement (Goodman Sales CO)

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Interest Rate Protection. No later than In the 90th day case of the Borrower, within 60 days after the Closing Date, enter into Interest Rate Protection Agreements to the Borrower shall enter into, and for a minimum of two years thereafter maintain, interest rate Hedging Agreements extent necessary to provide that result in no less than at least 50% of the sum of the aggregate principal amount of (i) the Term outstanding Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively Letters of Credit is subject to either a fixed interest rate or maximum interest raterate protection for a period of not less than two years, which Interest Rate Protection Agreements shall have terms and conditions reasonably satisfactory to the Agent.

Appears in 2 contracts

Samples: Credit Agreement (Friendly Ice Cream Corp), Credit Agreement (Friendlys Restaurants Franchise Inc)

Interest Rate Protection. No later than In the 90th day case of the Borrower, within 60 ------------------------ days after the Closing Date, enter into Interest Rate Protection Agreements to the Borrower shall enter into, and for a minimum of two years thereafter maintain, interest rate Hedging Agreements extent necessary to provide that result in no less than at least 50% of the sum of the aggregate principal amount of (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively and the Term Loans is subject to either a fixed interest rate or maximum interest raterate protection for a period of not less than three years, which Interest Rate Protection Agreements shall have terms and conditions reasonably satisfactory to the Administrative Agent.

Appears in 2 contracts

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

Interest Rate Protection. No later than In the 90th day case of the Borrower, within 180 days after the Closing Date, the Borrower shall enter into, and for a minimum into Interest Rate Protection Agreements with respect to floating rate obligations in respect of two years thereafter maintain, interest rate Hedging Agreements that result in no less than 50% of the sum of the an aggregate principal amount of (i) Term Loans, and at market rates and on terms and conditions, reasonably satisfactory to the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively subject to a fixed or maximum interest rateAdministrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Conmed Corp), Credit Agreement (Conmed Corp)

Interest Rate Protection. No later than In the 90th day ------------------------ case of the Borrower, within 60 days after the Closing Date, enter into Interest Rate Protection Agreements to the Borrower shall enter into, and for a minimum of two years thereafter maintain, interest rate Hedging Agreements extent necessary to provide that result in no less than 50% of the sum at least $55,000,000 of the aggregate principal amount of (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively is subject to either a fixed interest rate or maximum interest raterate protection for a period of not less than three years, which Interest Rate Protection Agreements shall have terms and conditions reasonably satisfactory to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Reliant Building Products Inc)

Interest Rate Protection. No The Borrower shall no later than 90 ------------------------ days following the 90th day after the Closing Date, the Borrower shall Initial Borrowing Date enter into, and for a minimum of two years thereafter maintain, interest rate Hedging Agreements that result in no less than 50% Interest Rate Protection Agreements, satisfactory to the Agent, with a term of the sum of the aggregate principal amount of (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively subject to at least three years, establishing a fixed or maximum interest raterate acceptable to the Agent in respect of at least 50% of the outstanding Term Loans, it being understood and agreed that the Interest Rate Protection Agreements entered into by the Borrower in connection with the Existing Credit Agreement may remain outstanding and shall constitute a part of the interest rate protection program required by this Section 7.12.

Appears in 1 contract

Samples: Credit Agreement (Dade International Inc)

Interest Rate Protection. No The Borrower shall, no later than the 90th day 60 days after the Closing Date, the Borrower shall enter into, Date and for a minimum in respect of two years thereafter maintain, interest rate Hedging Agreements that result in no less than 50% of the sum of the aggregate principal amount of (i) the outstanding Term Loans then outstanding and (ii) as in effect from time to time, enter into Interest Rate Protection Agreements to the Senior Subordinated Notes then outstanding being effectively subject extent available on commercially reasonable terms, reasonably acceptable to a fixed or maximum interest ratethe Agent.

Appears in 1 contract

Samples: Credit Agreement (Standard Automotive Corp)

Interest Rate Protection. No later than In the 90th day case of Details, within 90 days ------------------------ after the Closing Date, enter into Interest Rate Protection Agreements to the Borrower shall enter into, and for a minimum of two years thereafter maintain, interest rate Hedging Agreements extent necessary to provide that result in no less than at least 50% of the sum of the aggregate principal amount of (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively and the Term Loans is subject to either a fixed interest rate or maximum interest raterate protection for a period of not less than three years, which Interest Rate Protection Agreements shall have terms and conditions reasonably satisfactory to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Details Capital Corp)

Interest Rate Protection. No later than the 90th day after Within 60 days following the Closing Date, the Borrower shall enter into, and for a minimum of two years thereafter maintain, into interest rate Hedging Agreements that result protection agreements, in no less than 50form and substance satisfactory to the Administrative Agent in its reasonable discretion, covering at least 40% of the sum of the aggregate outstanding principal amount of (i) the Term Loans then outstanding at any time and (ii) shall maintain such agreements in effect for at least three years after the Senior Subordinated Notes then outstanding being effectively subject to a fixed or maximum interest rateClosing Date.

Appears in 1 contract

Samples: Credit Agreement (Davel Communications Inc)

Interest Rate Protection. No later than In the 90th day case of the Borrower, within 120 days (or such longer period as the Administrative Agent may agree in its reasonable discretion) after the Closing Date, the Borrower shall enter into, and for a minimum of two years thereafter maintain, interest rate Hedging Agreements Rate Contracts to the extent necessary to provide that result in no less than at least 50% of the sum of the aggregate principal amount of (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively is subject to either a fixed interest rate or maximum interest raterate protection for a period of not less than three years from the Closing Date, which Rate Contracts shall have terms and conditions reasonably satisfactory to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Del Taco Restaurants, Inc.)

Interest Rate Protection. No later than In the 90th day case of the Borrower, within 60 days after the Closing Date, enter into Interest Rate Protection Agreements to the Borrower shall enter into, and for a minimum of two years thereafter maintain, interest rate Hedging Agreements extent necessary to provide that result in no less than at least 50% of the sum of the aggregate principal amount of (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively and the Term Loans is subject to either a fixed interest rate or maximum interest raterate protection for a period of not less than three years, which Interest Rate Protection Agreements shall have terms and conditions reasonably satisfactory to the Syndication Agent.

Appears in 1 contract

Samples: Credit Agreement (Imperial Holly Corp)

Interest Rate Protection. No later than the 90th 60th day after the Closing Initial Borrowing Date, the Borrower shall enter into, and for a minimum of two three years thereafter maintain, Interest Rate Protection Agreements acceptable to the Agents establishing a fixed or maximum interest rate Hedging Agreements that result in no less than 50acceptable to the Agents for an aggregate amount with respect to the Term Loans outstanding from time to time as is equal to 30% of the sum of the aggregate principal amount of (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively subject to a fixed or maximum interest rateoutstanding.

Appears in 1 contract

Samples: Credit Agreement (FSC Semiconductor Corp)

Interest Rate Protection. No later than On or prior to the 90th 60th day after following the Closing Date, the Borrower shall enter into, and thereafter the Borrower shall maintain in effect for a minimum period of at least two years thereafter maintainyears, interest rate Hedging Agreements that result protection arrangements in no form and substance reasonably satisfactory to the Agent and the Lenders with respect to not less than 50% $50,000,000 of principal of the sum of the aggregate principal amount of Loans (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively subject to a fixed any such agreement or maximum interest ratearrangements, an "Interest Rate Protection Agreement").

Appears in 1 contract

Samples: Revolving Credit Agreement (Green Mountain Coffee Roasters Inc)

Interest Rate Protection. No later than In the 90th day case of the Borrower, within 180 days after the Closing Date, the Borrower shall enter into, and for a minimum of two years thereafter maintain, into Interest Rate Protection Agreements providing interest rate Hedging Agreements that result in no less than 50% of protection with respect to an amount at least equal to the sum of the aggregate principal amount of (i) the Term Loans then outstanding for a period, and (ii) the Senior Subordinated Notes then outstanding being effectively subject to a fixed or maximum at an interest rate, reasonably satisfactory to the Arranger.

Appears in 1 contract

Samples: Credit Agreement (Fpa Medical Management Inc)

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Interest Rate Protection. No later than In the 90th day case of the Borrower, (a) within 90 days after the Closing Date, enter into Interest Rate Protection Agreements to the Borrower shall enter into, and for a minimum of two years thereafter maintain, interest rate Hedging Agreements extent necessary to provide that result in no less than at least 50% of the sum of the aggregate principal amount of (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively subject to a fixed or maximum interest rate.and the Term Loans

Appears in 1 contract

Samples: Credit Agreement (International Home Foods Inc)

Interest Rate Protection. No later than In the 90th day case of the Company, within 60 days after the Closing Date, the Borrower shall enter into, and for a minimum of two years thereafter maintain, interest rate Hedging Interest Rate Agreements with one or more Lenders or Lender Affiliates to the extent necessary to provide that result in no less than 50at least 40% of the sum of the aggregate principal amount of (i) the Subordinated Notes, the Senior Unsecured Notes, and the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively is subject to either a fixed interest rate or maximum interest raterate protection for a period of not less than two years, which Interest Rate Agreements shall have terms and conditions reasonably satisfactory to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Collins & Aikman Corp)

Interest Rate Protection. No later than On or prior to the 90th 60th day after following ------------------------ the Closing Date, the Borrower shall enter into, and thereafter the Borrower shall maintain in effect for a minimum period of two years thereafter maintainat least three years, interest rate Hedging Agreements that result protection agreements, swaps or similar arrangements in no form and substance reasonably satisfactory to the Administrative Agent with respect to not less than 50% $66,500,000 of principal of the sum of Loans (any such agreement or arrangements individually, an "Interest Rate Protection Agreement" and collectively, the aggregate principal amount of (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively subject to a fixed or maximum interest rate"Interest Rate Protection Agreements").

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Wm Acquisition Inc)

Interest Rate Protection. No later than In the 90th day case of Details, within 90 days after the Closing Date, enter into Interest Rate Protection Agreements to the Borrower shall enter into, and for a minimum of two years thereafter maintain, interest rate Hedging Agreements extent necessary to provide that result in no less than at least 50% of the sum of the aggregate principal amount of (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively and the Term Loans is subject to either a fixed interest rate or maximum interest raterate protection for a period of not less than three years, which Interest Rate Protection Agreements shall have terms and conditions reasonably satisfactory to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Ddi Corp)

Interest Rate Protection. No later than In the 90th day case of the Borrower, ------------------------ within 180 days after the Closing Effective Date, enter into Interest Rate Protection Agreements to the Borrower shall enter into, and for a minimum of two years thereafter maintain, interest rate Hedging Agreements extent necessary to provide that result in no less than at least 50% of the sum of the aggregate principal amount of (i) the Term Loans then (or 35% if the Increasing Rate Term Loans are repaid in full) and Increasing Rate Term Loans outstanding and (ii) on the Senior Subordinated Notes then outstanding being effectively date such Interest Rate Protection Agreement is entered into is subject to either a fixed interest rate or maximum interest raterate protection for a period of not less than three years, which Interest Rate Protection Agreements shall have terms and conditions reasonably satisfactory to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Wyndham International Inc)

Interest Rate Protection. No later than the 90th day after Within sixty (60) days following the Closing Date, the Borrower shall enter intohave entered into interest rate protection agreements protecting against fluctuations in interest rates as to which the material terms are reasonably satisfactory to the Administrative Agent, which agreements shall provide coverage in an amount equal to at least fifty percent (50%) of the outstanding principal amount of the Loans and for a minimum duration of two years thereafter maintain, interest rate Hedging Agreements that result in no less than 50% of the sum of the aggregate principal amount of at least one (i1) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively subject to a fixed or maximum interest rateyear.

Appears in 1 contract

Samples: Credit Agreement (Accredo Health Inc)

Interest Rate Protection. No later than In the 90th day case of the Borrowers, within 90 days after the Closing Date, enter into Interest Rate Protection Agreements to the Borrower shall enter into, and for a minimum of two years thereafter maintain, interest rate Hedging Agreements extent necessary to provide that result in no less than 50at least 30% of the sum of the aggregate principal amount of (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively is subject to either a fixed interest rate or maximum interest raterate protection for a period of not less than three years, 65 60 which Interest Rate Protection Agreements shall have terms and conditions reasonably satisfactory to the Syndication Agent.

Appears in 1 contract

Samples: Credit Agreement (K&f Industries Inc)

Interest Rate Protection. No later than the 90th day after the Closing Date, the Borrower shall enter into, and for a minimum period of two years thereafter maintain, interest rate Hedging Interest Rate Agreements that result in no less than 50% of the sum of the aggregate principal amount of (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively subject to establishing a fixed or maximum interest raterate acceptable to the Administrative Agent for an aggregate notional amount equal to at least 50% of the initial aggregate principal amount of both the A Term Loans and Initial B Term Loans incurred on the Closing Date.

Appears in 1 contract

Samples: Credit Agreement (Fairpoint Communications Inc)

Interest Rate Protection. No later than In the 90th day case of the Borrowers, within 90 days after the Closing Date, enter into Interest Rate Protection Agreements to the Borrower shall enter into, and for a minimum of two years thereafter maintain, interest rate Hedging Agreements extent necessary to provide that result in no less than 50% of the sum at least one-third of the aggregate principal amount of (i) the Term Loans then outstanding and (ii) the Senior Subordinated Notes then outstanding being effectively is subject to either a fixed interest rate or maximum interest raterate protection for a period of not less than three years, which Interest Rate Protection Agreements shall have terms and conditions reasonably satisfactory to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Grove Investors Capital Inc)

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