Common use of Hedge Clause in Contracts

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.