Common use of Derivatives Contract Clause in Contracts

Derivatives Contract. Within forty five (45) days of the Effective Date, Borrower shall deliver to Administrative Agent one or more International Swaps and Derivatives Association master agreements executed by the Borrower, including completed Schedules thereto and trade confirmations providing for a floating to fixed interest rate swaps on an aggregate notional amount of at least $50,000,000 in respect of all unsecured borrowings and for a period of at least 5 years (giving effect to any forward starting interest rate swaps), together with evidence of the Borrower’s authority to enter into such agreements.