Variable Interest Indebtedness. Neither the Borrower nor CP Limited ------------------------------ and its Subsidiaries shall at any time permit the outstanding principal balance of Indebtedness hereunder which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed $125,000,000, unless all of such Indebtedness in excess $125,000,000 is subject to a swap, rate cap or other interest rate management program reasonably approved by the Bank that effectively converts the interest rate on such excess to a fixed rate.
Appears in 2 contracts
Sources: Credit Agreement (Windsor Park Properties 7), Credit Agreement (Windsor Park Properties 5)