Hedging Debt Sample Clauses

Hedging Debt. Until the Discharge Date, no Hedging Bank or Long Term Hedging Bank shall, except with the prior consent of the Majority Lenders:
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Hedging Debt. Until the Senior Discharge Date, no Hedging Bank shall, except with the prior consent of the Majority Senior Lenders: (a) demand or receive payment, repayment or prepayment of any principal, interest or other amount on or in respect of, or make any distribution in respect of, any Hedging Debt in cash or in kind or apply any money or property in or towards discharge of any Hedging Debt, except as permitted by paragraph (d) below, Clause 12.1 (Permitted Hedging Payments) or Clause 15.3 (Filing of claims); (b) exercise any set-off against any Hedging Debt, except as permitted by Clause 12.1 (Permitted Hedging Payments) or Clause 15.3 (Filing of claims); (c) permit to subsist or receive any Security over any assets of any member of the Group, or any guarantee from any member of the Group, for, or in respect of, any Hedging Debt, other than under any Senior Security Document and the guarantees in any applicable Senior Finance Document; or (d) terminate (or close out any transaction under) any Hedging Document prior to its stated maturity, except as permitted by Clause 21.1 (Permitted hedging enforcement).
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Hedging Debt. Until the Senior Facility Discharge Date, no Obligor shall (and the Company shall ensure that no member of the Group will), except with the prior consent of the Senior Agent under the Senior Facility Agreement: 10.1.1 create or permit to subsist any Security over any of its assets, or give any guarantee, for, or in respect of, any Hedging Debt, other than under any Senior Security Document and the guarantees in any applicable Senior Finance Document.
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Hedging Debt. Prior to the Enforcement Trigger Date: 47.2.1 each Obligor may make, and each Hedging Bank may receive and retain, any scheduled payments arising under the terms of the relevant Secured Hedging Agreement in accordance with the terms of the relevant Secured Hedging Agreement; 47.2.2 each Hedging Bank may only discharge any Hedging Debt under any netting arrangements in accordance with the terms of the relevant Secured Hedging Agreement to the extent that such Hedging Debt is permitted to be paid under Clause 47.2.1; and 47.2.3 each Hedging Bank may only discharge any Hedging Debt by set-off in accordance with the First Lien Credit Agreement and only to the extent that such Hedging Debt is permitted to be paid under Clause 47.2.1.
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Hedging Debt. Until the Senior Facility Discharge Date, no Hedging Bank shall, except with the prior consent of the Senior Agent under the Senior Facility Agreement: 4.1.1 exercise or enforce any right against any Obligor under any of the Security Documents; 4.1.2 permit to subsist or receive any Security, or any guarantee, for, or in respect of, any Hedging Debt, other than under any Senior Security Document and the guarantees in any applicable Senior Finance Document; 4.1.3 take or omit to take any action whereby the ranking in respect of the Security contemplated by this Agreement may be impaired; or 4.1.4 assign any of its rights or transfer any of its rights or obligations under any Hedging Document to any person unless and until the Security Agent executes an Accession Agreement duly completed and signed on behalf of that person.
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Hedging Debt 
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Related to Hedging Debt

  • 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.

  • 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.

  • Hedging Contracts No Restricted Person will be a party to or in any manner be liable on any Hedging Contract except: (a) Hedging Contracts (excluding Floor Contracts covered by the following subsection (b)) entered into with the purpose and effect of fixing prices on oil, natural gas, or natural gas liquids expected to be produced by Restricted Persons, provided that at all times: (i) no such Hedging Contract fixes a price for a period later than 60 months after such contract is entered into; (ii) the aggregate monthly production covered by all such contracts (determined, in the case of contracts that are not settled on a monthly basis, by a monthly proration acceptable to Administrative Agent) for any single month does not in the aggregate exceed 85% of Restricted Persons’ aggregate Projected Oil and Gas Production (calculated separately for oil, natural gas, and natural gas liquids) anticipated (at the time such Hedging Contract is entered into) to be sold in the ordinary course of the Restricted Persons’ businesses for such month, determined separately with respect to oil and gas, (iii) except for the Collateral under the Security Documents with respect to Lender Hedging Obligations, no such contract requires any Restricted Person to put up money, assets, or other security against the event of its nonperformance prior to actual default by such Restricted Person in performing its obligations thereunder, and (iv) each such contract is with an Approved Counterparty; (b) Floor Contracts, provided that (i) no such contract has a term of more than 60 months after such contract is entered into, (ii) the aggregate monthly production covered by all such contracts for any single month does not in the aggregate exceed 100% of Restricted Persons’ aggregate Projected Oil and Gas Production anticipated (at the time such Hedging Contract is entered into) to be sold in the ordinary course of the Restricted Persons’ businesses for such month, and (iii) each such contract is with an Approved Counterparty; and (c) Hedging Contracts entered into by a Restricted Person with the purpose and effect of fixing interest rates on a principal amount of indebtedness of such Restricted Person that is accruing interest at a variable rate, provided that (i) at the time such Hedging Contract is entered into, the aggregate notional amount of such contracts does not exceed 75% of the anticipated outstanding principal balance of the indebtedness to be hedged by such contracts or an average of such principal balances calculated using a generally accepted method of matching interest swap contracts to declining principal balances, (ii) the floating rate index of each such contract generally matches the index used to determine the floating rates of interest on the corresponding indebtedness to be hedged by such contract and (iii) each such contract is with an Approved Counterparty.

  • Hedging Agreement Any termination payment shall be due by the Borrower under any Hedging Agreement and such amount is not paid within ten (10) Business Days of the due date thereof.

  • 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.