Common use of Hedging Debt Clause in Contracts

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).

Hedging Debt. Until the Senior Discharge Date, no Hedging Bank shallObligor shall (and the Company shall ensure that no member of the Group will), except with the prior consent of the Majority Senior Lenders: (ai) demand pay, repay or receive payment, repayment or prepayment of prepay 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 the 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); (bii) 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); (ciii) create or permit to subsist or receive any Security over any assets of any member of the Group, or give 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 (div) 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).