Common use of Changes to Hedging Documents Clause in Contracts

Changes to Hedging Documents. (a) Subject to the sub-paragraphs (b) and (c) below, unless the Majority Bank Creditors have agreed to the Amendment in writing, no Obligor or Hedging Bank will Amend the terms of any Hedging Document: (i) save for Amendments required to comply with the terms of this Agreement or the Hedging Letter and save for procedural or administrative changes which do not increase the amount or change the currency payable by any Obligor under the original terms of any Hedging Document or alter the due date for any payment (except as provided in accordance with the original terms of the Hedging Documents); (ii) to result in any Obligor becoming liable to make an additional payment (or increase an existing payment) under any of the Hedging Documents or to impose an additional material obligation on any Obligor, which liability or obligation does not arise from the original terms of the Hedging Documents; or (iii) save for Amendments made to the Hedging Security Documents entered into by eircom, ITI and the Company to the extent necessary to conform such Hedging Security Documents to the Trustee Security Documents required to be entered into by eircom, ITI and the Company under the terms of the Senior Facility Agreement. (b) With effect from the Refinancing Date, the Hedging Documents in existence at the date of this Agreement and referred to in Schedule 9 (Amendments to Hedging Documents) shall be amended as set out in Schedule 9 (Amendments to Hedging Documents) and each party to this Agreement hereby consents to such amendments. (c) The Hedging Banks hereby confirm that no Event of Default or Termination Event (as defined in any ISDA master agreement to which it is a party) will occur under any Hedging Document in existence at the date of this Agreement to which it is party as a result of any member of the Group entering into the Senior Facility Agreement (or the transactions contemplated therein) or as a result of the IPO.

Changes to Hedging Documents. (a) Subject to the sub-paragraphs (b) and (c) below, unless Except as the Majority Bank Creditors (save that, for the purposes of this Clause 4.2 only, the proviso contained in the definition of Majority Senior Creditors shall not be taken into account in defining the Majority Creditors) have agreed to the Amendment previously consented in writing, no Obligor or Hedging Bank will Amend amend, vary, supplement or allow to be superseded any provision of the terms of Hedging Documents (or give any Hedging Documentwaiver, release or consent having the same commercial effect) to the extent that would result in: (ia) save any provision in the Hedging Documents being amended unless the Hedging Bank concerned acting reasonably and in good faith certifies that it considers such amendment does not impose restrictions or obligations or conditions on any Obligor which are more onerous than those originally provided for Amendments in the Hedging Documents; or (b) any payment under the Hedging Documents being required to comply with be made by an Obligor earlier than the terms of this Agreement or date originally provided for in the Hedging Letter and Documents, save for as results from procedural or administrative changes arising in the ordinary course of the administration of the Hedging Documents which do not increase the amount or change the currency payable by any Obligor under the original terms of any Hedging Document or materially alter the due date for (but, subject to Clause 5.2(b) (Undertakings of Hedging Banks) below, this sub-clause (b) does not restrict or affect in any way any right of the Hedging Bank or an Obligor to require early payment (except as provided upon a termination or otherwise in accordance with the original terms provisions of the Hedging DocumentsDocuments in force on the date hereof);; or (iic) to result in any Obligor becoming liable to make an additional payment (or increase an existing payment) under any of the Hedging Documents or to impose an additional material obligation on any Obligor, which liability or obligation does not arise from the original terms provisions of the Hedging Documents; or (iii) save for Amendments made to the Hedging Security Documents entered into by eircom, ITI and the Company to the extent necessary to conform such Hedging Security Documents to the Trustee Security Documents required to be entered into by eircom, ITI and the Company under the terms of the Senior Facility Agreement. (b) With effect from the Refinancing Date, the Hedging Documents in existence at force on the date hereof, save as results from procedural or administrative changes arising in the ordinary course of the administration of the relevant Hedging Document which are not material (but this Agreement and referred to in Schedule 9 (Amendments to Hedging Documents) shall be amended as set out in Schedule 9 (Amendments to Hedging Documents) and each party to this Agreement hereby consents to such amendments. sub-clause (c) The Hedging Banks hereby confirm that no Event of Default does not restrict or Termination Event (as defined affect in any ISDA master agreement to which it is a party) will occur under way the right of any Hedging Document Bank to charge or levy normal banking charges, fees (excluding refinancing or rescheduling fees), commissions, costs and expenses in existence at the date relation to any further services or facilities made available to any Obligor as part of this Agreement day to day banking arrangements which it is party as a result of any member do not constitute Hedging Liabilities and are not made available in breach of the Group entering into the Senior Facility Agreement (Finance Documents or the transactions contemplated therein) or as a result of the IPOJunior Finance Documents).