Unencumbered Property Subsidiary. A Wholly Owned Subsidiary of Borrower that directly owns an Unencumbered Property. An Unencumbered Property Subsidiary shall include any Subsidiary Guarantor as a result of clause (a) of the definition of Material Subsidiary. Yak Ventures LLC and Alshain Ventures LLC shall be considered Unencumbered Property Subsidiaries if such Person owns an Unencumbered Property. Unhedged Variable Rate Debt. Any Indebtedness with respect to which the interest rate is not fixed (or hedged to a fixed rate) for the entire term of such Indebtedness to maturity.
Appears in 2 contracts
Sources: Credit Agreement (DuPont Fabros Technology LP), Credit Agreement (Dupont Fabros Technology, Inc.)