Debt Balances. (a) Upon the written request of the Collateral Trustee, each Secured Debt Representative shall promptly (and, in any event, within five Business Days) give the Collateral Trustee written notice of the aggregate amount of the Obligations then outstanding and owed by any Credit Party to the First-Lien Secured Parties represented by such Secured Debt Representative under the applicable Financing Documents and any other information that the Collateral Trustee may reasonably request. The Administrative Agent agrees that it will share such information with any other Secured Debt Representative, upon request by a Secured Debt Representative. In addition to the foregoing, the Collateral Trustee may request from a Secured Debt Representative specified amounts of Obligations in connection with the application of amounts in accordance with Section 4.4(b), the determination of “Required First-Lien Secured Parties” and any other applicable provisions of this Agreement, including (i) in the case of the Administrative Agent, Secured Debt Representative under an Additional First-Lien Indebtedness Agreement or Treasury Services Provider, the Outstanding Amount under the Credit Agreement, Additional First-Lien Indebtedness Agreement or Secured Treasury Services Agreement (as applicable) at such time, (ii) in the case of each Secured Interest Rate Hedge Provider, the Eligible Hedge Amount under the applicable Secured Interest Rate Hedging Agreement at such time, and (iii) in the case of each Secured Commodity Hedge Counterparty, the Eligible Hedge Amount under the applicable Secured Commodity Hedge at such time, and each such Secured Debt Representative shall promptly provide such amounts in writing (and, in any event, within five Business Days). Upon receipt of each such notice from a Secured Debt Representative, the Collateral Trustee shall provide such notice to each other Secured Debt Representative.
Debt Balances. (a) Upon the written request of the Collateral Agent, each Secured Debt Representative shall promptly (and, in any event, within five Business Days) give the Collateral Agent written notice of the aggregate amount of the Secured Obligations then outstanding and owed by the Borrower or any other Loan Party to the Secured Parties represented by such Secured Debt Representative under the applicable Transaction Documents and any other information that the Collateral Agent may reasonably request.
Debt Balances. (a) Upon the written request of the Administrative Agent, each Secured Parties Representative shall promptly (and, in any event, within ten (10) Business Days) give such Person written notice of the aggregate amount of the First Lien Obligations then outstanding and owed by the Borrower or any Guarantor to the Secured Parties represented by such Secured Parties Representative under the applicable Secured Obligations Documents and any other information that such Person may reasonably request.
Debt Balances. The volatility of the Canadian dollar during the reporting period has a direct impact on the unrealized component of the foreign exchange gain or loss. Due to the relative stability of the Canadian dollar in the first six months of 2004 relative to 2003, the unrealized foreign exchange gain was $1.8 million in the first six months of 2004 compared to a gain of $15.1 million in the first six months of 2003. The unrealized gain/loss impacts net income but does not impact cash flow as it is a non-cash amount. Realized foreign exchange gains or losses arise from U.S. denominated transactions such as interest payments, debt repayments, hedging settlements, revenue receipts and unitholder payments. During the second quarter, the Trust recorded a realized foreign exchange loss of $5.9 million upon repayment of US$105 million of debt. Due to the weakening of the Canadian dollar between the issuance and repayment dates of the debt, the Canadian dollar equivalent value of the debt increased by $5.9 million from the date of issuance to repayment. Following is a breakdown of the total foreign exchange gain (loss): -------------------------------------------------------------------------------------------------------------------- Three Months Ended Six Months Ended Foreign exchange gain (loss) June 30 June 30 ($ thousands except per boe) 2004 2003 2004 2003 -------------------------------------------------------------------------------------------------------------------- Unrealized gain (loss) on U.S. denominated debt (806) 7,700 (1,749) 15,102 Realized (loss) on U.S. debt repayment (5,858) -- (5,858) -- REALIZED GAIN (LOSS) ON U.S. DENOMINATED TRANSACTIONS 2,312 (277) 2,555 (184) TOTAL FOREIGN EXCHANGE GAIN (LOSS) (4,352) 7,423 (5,052) 14,918 -------------------------------------------------------------------------------------------------------------------- TOTAL FOREIGN EXCHANGE GAIN (LOSS) PER BOE (0.82) 1.41 (0.48) 1.61 ==================================================================================================================== TAXES Capital taxes paid or payable by ARC, based on debt and equity levels at the end of the year, amounted to $0.7 million in the second quarter of 2004 compared to $0.3 million in the second quarter of 2003. Year-to-date capital taxes were $1.4 million for the first six months of 2004 compared to $0.4 million in 2003. The increase in 2004 capital taxes was attributed to the higher taxable capital base as a result of the Star acqui...
