Hedge. The Joint Obligor and Guarantor and their subsidiaries, in a consolidated basis, shall maintain during the term of this Loan, an EBITDAPS to paid financial expenses (it being understood as such the payments made in respect of the Financial Debt) ratio of no less than three (3) times. For this purpose, EBITDAPS and financial expenses shall be determined on the basis of the accumulation of the four (4) last quarterly periods.
Hedge. Any interest rate swap, collar, cap or floor or a forward rate agreement or other agreement regarding the hedging of interest rate risk exposure relating to the Obligations, and any confirming letter executed pursuant to such hedging agreement, and which shall include, without limitation, any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act, all as amended, restated or otherwise modified.
Hedge. In order to prevent the idea of increasing the lot amount with hedge in IB lot returns that we have contracted with, our company has presented these rules to us in order to take precaution. Hedge transactions under 3 minutes between 22:00 and 08:00 in the evening will also be in unfair transaction status. Possible loss resulting from this will be refunded and the profit made will be deducted.
Hedge. Bank shall establish a Hedge and maintain a hedging strategy with respect to all Expanded Pool Assets, which hedging strategy shall be in an amount of at least 90% of the Loan Value of the Expanded Pool Assets on a DVO1 basis and which may be subject to CLF’s consent. For all periods (x) prior to the date on which Bank has delivered a Market Deficit Notice to CLF, and (y) after CLF has timely paid any Option Premium Adjustment Amount then due and payable under the terms of the Call Option Agreement, Bank shall apply a hedging strategy to which CLF has consented (which consent CLF shall not unreasonably withhold) or any other hedging strategy that Bank, in its sole discretion, decides to adopt if such consent is not forthcoming. At all times after Bank has delivered a Market Deficit Notice to CLF and prior to the payment by CLF of the related Option Premium Adjustment Amount, Bank may apply any hedging strategy Bank, in its sole discretion, determines to be appropriate or reasonable. For the purposes of this Section, the Loan Value of Construction Perm Loans that are not Converted Loans shall be the anticipated principal amount advanced by Bank to the applicable Mortgagor in respect of such loan at such time as it may become a Converted Loan. When determining a Net Hedge Adjustment Amount for less than all Pool Assets, net gains or losses shall be determined with respect to only the Pool Assets for which the determination is being made. Nothing set forth in this Section 18 shall alter the definition of Net Hedge Adjustment Amount. CLF shall pay the Bank monthly the Hedge Carry Costs.
Hedge. Until no later than January 1, 2016, the Company shall hedge (by swap and/or other derivative agreement) any debt due by the Company and/or any of its Subsidiaries which exposes the Company and/or any of its Subsidiaries to any currency other than Reais. To the extent possible and cost efficient, the Company will endeavor its best efforts to pre-pay the US Dollar denominated debt.
Hedge. Within one (1) Business Day after the execution of this Agreement, Purchaser shall (or shall cause its parent company, Vanguard Natural Gas, LLC (“VGN”) to) arrange a financial hedge in accordance with the schedule set forth on Schedule “X” of oil production from the Assets commencing on February 1, 2008 or March 1, 2008 (as specified by Purchaser) (the “Hedge”). Upon Purchaser’s arrangement of the Hedge, Seller shall enter into the Hedge if, as determined by Seller, the counterparty to the Hedge consents without qualification to permit Seller's assignment of the Hedge to VGN at Closing, and the counterparty to the Hedge agrees, upon any such assignment, to release Seller fully from any and all liabilities and obligations under the Hedge. Purchaser agrees that, upon any such assignment, Purchaser shall cause VGN to assume fully any and all liabilities and obligations under the Hedge. At Closing, Seller shall assign, and Purchaser shall cause VGN to assume, the Hedge by having VGN execute a Novation Agreement in the form of such Novation Agreement attached hereto as Schedule “L”. The “Novation Date”, as such term is used herein (and as such term is used in the relevant documents comprising and governing the novation of the Hedge) shall be the date upon which Closing occurs. If Closing does not occur on or before March 31, 2008, then on or before April 3, 2008, Seller shall determine and Purchaser shall pay to Seller the Breakage Costs (as defined below). As used herein, “Breakage Costs” means all costs and losses, if any, which the Seller has incurred, incurs or would incur to terminate and liquidate the Hedge, including, without limitation, settlement payments made or due, valuation loss, reasonable attorney fees, loss of bargain, cost of funding, other costs and losses incurred in terminating related trade positions. Seller may determine its valuation loss by reference to an offer from the Hedge counterparty to terminate and liquidate the Hedge. The Parties hereby agree that Purchaser shall pay Seller the Breakage Costs regardless of whether or not Seller terminates and liquidates the Hedge. Further, the Parties agree that in the event that Seller is to receive any proceeds from the Hedge counterparty upon termination and liquidation of the Hedge (a “Valuation Gain”) or Seller has received any settlement payments, then Seller shall be entitled to retain such Valuation Gain and settlement payments; and, in the event that the Breakage Costs which Seller wou...
Hedge. 7.48.1 As a condition precedent to making the Borrower Loan, the Borrower shall enter into one or more interest rate caps, collars, swaps, swaptions, forward swaps or similar transactions designed to protect against fluctuations in the interest rate of Borrower Note A-1 and Borrower Note A-2 commencing no later than the Initial Conversion Date, or if Borrower elects to extend the Initial Conversion Date pursuant to Section 2.6 above, the Extended Conversion Date, and expiring no earlier than the Initial Maturity Date, or if Borrower elects to extend the Initial Maturity Date pursuant to Section 2.6 above, the Extended Maturity Date, with a counterparty acceptable to Bank (which counterparty may, but is not required to be, Bank) (together, as modified from time to time, the “Hedge”). The notional amount of the Hedge must be the outstanding aggregate principal amount of the Borrower Note A-1 and Borrower Note A-2 as of the Extended Conversion Date or, if later, the effective date of the Hedge. The Hedge shall provide for a fixed rate of interest not to exceed (or otherwise protect against the interest rate on the Borrower Note A-1 exceeding) [_ %] [CHECK] (inclusive of the Margin), and shall provide for a fixed rate of interest not to exceed (or otherwise protect against the interest rate on the Borrower Note A- 2 exceeding) [ %] [CHECK] (inclusive of the Margin). The cost of the Hedge must be paid in full on its effective date. The identity of the counterparty and the form and substance of the documents and agreements evidencing, securing, guarantying or otherwise governing the Hedge, including, without limitation, any ISDA Master Agreement and Schedule thereto, and any confirmations evidencing the Hedge (together, the “Hedge Documents”), shall be acceptable to Bank in the Bank‟s sole discretion. In no event shall the counterparty have a rating by a national rating agency which is less than the rating assigned by such rating agency to Bank. No Hedge Document shall be secured by the Project unless expressly consented to in writing by Bank, which consent may be withheld in Bank‟s sole discretion.
Hedge. The Company agrees to consider a proposal by Parent for entering into a Hedge of certain of the Company's oil and gas production on terms and conditions acceptable to the Company in its sole discretion; provided, however, that the Company shall be under no obligation to enter into a Hedge; and provided, further, that failure to enter into a Hedge shall not constitute a breach of this Agreement or constitute a basis for termination of this Agreement.
Hedge. On or before March 30, 2001, National Gold shall enter into one or more hedging agreements (the “Hedge”) to protect National Gold and its affiliates against any risk of loss in respect of currency exchange or devaluation on the amount of the IVA Payment converted into Mexican pesos on the Closing Date and shall maintain the Hedge in full force and effect until the IVA Promissory Note and any replacements or substitutions therefor have been paid in full. On or before March 30, 2001, National Gold shall assign to MSA or its Assignees all of the benefit, right, title and interest in and to any monetary gains realized under the Hedge up to the amount outstanding under the IVA Promissory Note and any substitutions or replacements therefor.
Hedge. 7.47.1 As a condition precedent to making the Borrower Loan, the Borrower shall enter into one or more interest rate caps, collars, swaps, swaptions, forward swaps or similar transactions designed to protect against fluctuations in the interest rate of each Borrower Note commencing no later than the Initial Conversion Date, or if Borrower elects to extend the Initial Conversion Date pursuant to Section 2.6 above, the Extended Conversion Date, and expiring no earlier than the Initial Maturity Date, or if Borrower elects to extend the Initial Maturity Date pursuant to Section 2.6 above, the Extended Maturity Date, with a counterparty acceptable to Bank (which counterparty may, but is not required to be, Bank) (together, as modified from time to time, the “Hedge”). The notional amount of the Hedge must be the outstanding principal amount of the Borrower Note as of the Outside Conversion Date or, if later, the effective date of the Hedge. The Hedge shall provide for a fixed rate of interest not to exceed (or otherwise protect against the interest rate on the Borrower Note exceeding) percent
