Common use of Rate Hedging Agreements Clause in Contracts

Rate Hedging Agreements. If the Hercules Title XI Issue has not been completed within 180 days after the Closing Date, then the Company shall, within 30 days after such initial 180-day period has concluded, enter into Rate Hedging Agreements with a Lender or Lenders in an aggregate notional amount not less than 50% of the outstanding principal amount of the Term Advances that reduces proportionately with the amortization of the Term Advances. Such Rate Hedging Agreements shall be in form and substance reasonably satisfactory to the Administrative Agent.

Rate Hedging Agreements. If the Hercules Title XI Issue has not been completed within 180 days after the Original Closing Date, then the Company shall, within 30 days after such initial 180-day period has concluded, enter into Rate Hedging Agreements with a Lender or Lenders in an aggregate notional amount not less than 50% of the outstanding principal amount of the Term Advances that reduces proportionately with the amortization of the Term Advances. Such Rate Hedging Agreements shall be in form and substance reasonably satisfactory to the Administrative Agent.