Examples of Replacement Interest Rate Cap Agreement in a sentence
If, in connection with Borrower’s exercise of any Extension Option pursuant to Section 2.7, Borrower delivers a Replacement Interest Rate Cap Agreement, all the provisions of this Section 2.6 applicable to the Interest Rate Cap Agreement delivered on the Closing Date shall be applicable to the Replacement Interest Rate Cap Agreement.
Tax simplification is impossible, in both cases, without the elimination of exemptions.
In the event that the Counterparty is downgraded (i) below BBB+ by S&P (or, if such counterparty was an Acceptable Counterparty based on its short-term rating by S&P, below “A-2” by S&P) or (ii) below “Baa1” by Moody’s, a Replacement Interest Rate Cap Agreement shall be required regardless of the posting of collateral.
In these instances, while endeavours will be made to enter into a Replacement Interest Rate Cap Agreement, no assurance can be given that the Issuer would be able to enter into a Replacement Interest Rate Cap Agreement with similar terms, immediately or at all.