Common use of Variable Interest Indebtedness Clause in Contracts

Variable Interest Indebtedness. The Borrower and its Subsidiaries shall not at any time permit the outstanding principal balance of Indebtedness which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed $800,000,000, unless all of such Indebtedness in excess of $800,000,000 is subject to a Rate Management Transaction approved by the Administrative Agent that effectively converts the interest rate on such excess to a fixed rate.

Appears in 1 contract

Sources: Credit Agreement (Developers Diversified Realty Corp)

Variable Interest Indebtedness. The Borrower and its Subsidiaries shall not at any time permit the outstanding principal balance of Indebtedness which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed $800,000,000625,000,000, unless all of such Indebtedness in excess of $800,000,000 625,000,000 is subject to a Rate Management Transaction swap, rate cap or other interest rate management program approved by the Administrative Agent that effectively converts the interest rate on such excess to a fixed rate.

Appears in 1 contract

Sources: Credit Agreement (Developers Diversified Realty Corp)

Variable Interest Indebtedness. The Borrower and its Subsidiaries shall not at any time permit the outstanding principal balance of Indebtedness which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed $800,000,000625,000,000, unless all of such Indebtedness in excess of $800,000,000 625,000,000 is subject to a Rate Management Transaction swap, rate cap or other interest rate management program approved by the Administrative Agent Lender that effectively converts the interest rate on such excess to a fixed rate.

Appears in 1 contract

Sources: Term Loan Agreement (Developers Diversified Realty Corp)

Variable Interest Indebtedness. The Borrower and its Subsidiaries shall not at any time permit the outstanding principal balance of Indebtedness which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed $800,000,000175,000,000.00, unless all of such Indebtedness in excess of $800,000,000 175,000,000.00 is subject to a Rate Management Transaction swap, rate cap or other interest rate management program approved by the Administrative Agent National City that effectively converts the interest rate on such excess to a fixed rate.

Appears in 1 contract

Sources: Revolving Credit Facility (Developers Diversified Realty Corp)

Variable Interest Indebtedness. The Borrower and its Subsidiaries shall not at any time permit the outstanding principal balance of Indebtedness which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed $800,000,000500,000,000, unless all of such Indebtedness in excess of $800,000,000 500,000,000 is subject to a Rate Management Transaction swap, rate cap or other interest rate management program approved by the Administrative Agent that effectively converts the interest rate on such excess to a fixed rate.

Appears in 1 contract

Sources: Credit Agreement (Developers Diversified Realty Corp)

Variable Interest Indebtedness. The Borrower and its Subsidiaries shall not at any time permit the outstanding principal balance of Indebtedness which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed $800,000,000325,000,000, unless all of such Indebtedness in excess of $800,000,000 325,000,000 is subject to a Rate Management Transaction swap, rate cap or other interest rate management program approved by the Administrative Agent that effectively converts the interest rate on such excess to a fixed rate.

Appears in 1 contract

Sources: Credit Agreement (Developers Diversified Realty Corp)