Hedges Sample Clauses

Hedges. (a) The Company has entered into an Interest Rate Exchange Axxxxxxnt with CoBank, ACB (the "Swap") with respect to the Bonds. Attached as Exhibit I is the confirmation for the Swap, which describes the terms of the Swap. The Issuer hereby identifies the Swap on its books and records for the Bonds, and the date hereof is no more than three days after the date the terms of the Swap were agreed to. The Issuer has directed that the Swap be included in the closing transcript for the Bonds and will retain this identification and copies of the Swap with its books and records maintained with respect to the Bonds, and the existence of the Swap will be noted on the first form relating to the Bonds that is filed with the Internal Revenue Service. The interest rate to be paid by the Corporation under the Swap is a fixed rate. The notional principal amount for each period of time under the Swap will be no more than the principal amount of the Bonds scheduled to be outstanding under the Indenture at such times. No portion of one party's payments under the Swap relates to a conditional or unconditional obligation by the other party to make a payment on a different date, and they do not require any up-front payment or other non-periodic payments. The counterparty on the Swap is not paying any broker's or bidding agent fees. The Swap has been entered into between the Corporation, which is the conduit borrower of the proceeds of the Bonds, and a party that is not related to the Issuer or the Corporation. The Swap covers all or part of the Bonds. Without regard to the Swap, the Bonds would be variable rate bonds. The payments received by the Corporation under the Swap correspond closely in time to the dates interest payments must be made on the Bonds. Payments to be made to the counterparty by the Corporation under the Swap are reasonably expected to be paid from the same source of funds that, absent the Swap, would be reasonably expected to be used to pay principal and interest on the Bonds. Based on the foregoing, the Swap will constitute a qualified hedge under Section 1.148-4(h) of the Regulations. Therefore, in determining Bond Yield, the Corporation's payments and receipts under the Swap are taken into account, together with the actual payments on the Bonds.
Sample 1
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Hedges. The Borrower shall cause the Originators to obtain, xxx maintain in full force and effect, Hedges as of each date of determination, with an aggregate purchaxx xxxce at least equal to the total of the original principal balances of the Borrower's entire portfolio of Mortgage Loans plus the Originators' entire portfolio of Mortgage Loans.
Sample 1
Hedges. Each of the Sellers shall obtain, and maintain xx xxxl force and effect, Hedges, as of each determination, with an aggregate purchase pricx xx xeast equal to the total of the original principal balances of the Sellers' entire portfolio of Mortgage Loans plus the Buyer's entire portfolio of Mortgage Loans. Each of such Take-Out Commitments shall reflect only those terms and conditions as are permitted hereunder or are acceptable to the Administrative Agent. Each of the Sellers shall obtain, and maintain in full force and effect, forward purchase commitments (which may include options to sell Mortgage Loans to Approved Take-Out Investors, so long as the Approved Take-Out Investor is bound thereby) issued by Approved Take-Out Investors and obligating such Approved Take-Out Investors to purchase a portion of such Seller's subsequently acquired Mortgage Loans.
Sample 1

Related to Hedges

  • Hedge Transactions The Loan Parties will not, and will not permit any of their Subsidiaries to, enter into any Hedge Transaction, other than Hedge Transactions entered into in the ordinary course of business to hedge or mitigate risks to which the Loan Parties are exposed in the conduct of their business or the management of their liabilities. Solely for the avoidance of doubt, the Borrower acknowledges that a Hedge Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedge Transaction under which any Loan Party is or may become obliged to make any payment (i) in connection with the purchase by any third party of any common stock or any Debt or (ii) as a result of changes in the market value of any common stock or any Debt) is not a Hedge Transaction entered into in the ordinary course of business to hedge or mitigate risks.

  • Hedging Contracts No Restricted Person will be a party to or in any manner be liable on any Hedging Contract, except:

  • Hedging (a) The Borrower may, at any time and from time to time, enter into any Interest Hedge Agreements (subject in each case to (i) satisfaction of the Rating Condition and (ii) unless the cost of such Interest Hedge Agreement is paid in full at the time it is executed, the prior written consent of the Majority Lenders). The Borrower will not amend or replace any Interest Hedge Agreement unless the Rating Condition shall have been satisfied in connection with such amendment or replacement and the Majority Lenders have provided their prior written consent thereto. The Borrower (or the Services Provider on behalf of the Borrower) shall promptly provide written notice of entry into, and the amendment or replacement of, any Interest Hedge Agreement to the Agents and the Lenders. Notwithstanding anything to the contrary contained herein, the Borrower (or the Services Provider on behalf of the Borrower) shall not enter into any Interest Hedge Agreement (A) unless it obtains written advice of counsel that (1) the written terms of the derivative directly relate to the Collateral Loans and (2) such derivative reduces the interest rate and/or foreign exchange risks related to the Collateral Loans and the Loans and (B) that would cause the Borrower to be considered a “commodity pool” as defined in Section 1a(10) of the Commodity Exchange Act unless (i) the Services Provider, and no other party, including but not limited to the Collateral Agent, the Custodian and the Administrative Agent, is registered as a “commodity pool operator” as defined in Section 1(a)(11) of the Commodity Exchange Act and “commodity trading advisor” as defined in Section 1(a)(12) of the Commodity Exchange Act with the CFTC or (ii) with respect to the Borrower as the commodity pool, the Services Provider would be eligible for an exemption from registration as a commodity pool operator and commodity trading advisor and all conditions for obtaining the exemption have been satisfied. The Services Provider agrees that for so long as the Borrower is a commodity pool, the Services Provider will take all actions necessary to ensure ongoing compliance with, as the case may be, either (x) the applicable exemption from registration as a commodity pool operator and/or a commodity trading advisor with respect to the Borrower or (y) the applicable registration requirements as a commodity pool operator and/or a commodity trading advisor with respect to the Borrower, and will in each case take any other actions required as a commodity pool operator and/or a commodity trading advisor with respect to the Borrower.

  • Swaps No Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

  • Hedging Arrangements To the extent any Affiliate of a Lender is a party to a Secured Hedging Agreement with the Borrower, such Affiliate of a Lender shall be deemed to appoint the Administrative Agent its nominee and agent, and to act for and on behalf of such Affiliate in connection with the Security Documents and to be bound by this Article IX.

  • Interest Rate Risk Management Instruments (a) Set forth on Schedule 2.26(a) is a list as of the date ---------------- hereof of all interest rate swaps, caps, floors and option agreements and other interest rate risk management arrangements to which Seller or any of the Seller Subsidiaries is a party or by which any of their properties or assets may be bound.

  • Risk Management Except as required by applicable law or regulation, (i) implement or adopt any material change in its interest rate and other risk management policies, procedures or practices; (ii) fail to follow its existing policies or practices with respect to managing its exposure to interest rate and other risk; or (iii) fail to use commercially reasonable means to avoid any material increase in its aggregate exposure to interest rate risk.

  • Risk Management Instruments Except as would not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect, all derivative instruments, including, swaps, caps, floors and option agreements, whether entered into for the Company’s own account, or for the account of one or more of the Company Subsidiaries or its or their customers, were entered into (i) only in the ordinary course of business, (ii) in accordance with prudent practices and in all material respects with all applicable laws, rules, regulations and regulatory policies and (iii) with counterparties believed to be financially responsible at the time; and each of such instruments constitutes the valid and legally binding obligation of the Company or one of the Company Subsidiaries, enforceable in accordance with its terms, except as may be limited by the Bankruptcy Exceptions. Neither the Company or the Company Subsidiaries, nor, to the knowledge of the Company, any other party thereto, is in breach of any of its obligations under any such agreement or arrangement other than such breaches that would not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect.

  • Hedging Agreements The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

  • Natural Gas 21.1 Subject to Article 21.2, the Indian domestic market shall have the first call on the utilisation of Natural Gas discovered and produced from the Contract Area. Accordingly, any proposal by the Contractor relating to Discovery and production of Natural Gas from the Contract Area shall be made in the context of the Government's policy for the utilisation of Natural Gas and shall take into account the objectives of the Government to develop its resources in the most efficient manner and to promote conservation measures.

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