Common use of Derivatives Clause in Contracts

Derivatives. No Obligor shall: (i) enter into Derivatives of any kind after the date of this Agreement unless: (A)(i) the Derivatives are entered into with Lenders or Affiliates of Lenders, or (ii) with Persons (other than Lenders or Affiliates of Lenders) on an unsecured basis; and (iii) the Derivatives are entered into in the Ordinary Course (but not speculative purposes) to hedge or mitigate bona fide interest rate, currency, commodity or other financial risks to which the Obligors are exposed in the conduct of their business or the management of their liabilities; or (B) such Derivatives are permitted pursuant to paragraph (d)(ii) of Permitted Debt and are not for speculative purposes; or (ii) enter into Derivatives that permit margin calls, unless such Derivatives are otherwise permitted pursuant to paragraph (d)(ii) of Permitted Debt.