Common use of Hedging Plan Clause in Contracts

Hedging Plan. At all times during the Covenant Relief Period, the Company will comply with the Hedging Plan as in effect on the Effective Date. Following the Covenant Relief Period, the Company will comply with the Hedging Plan, as such plan may be amended from time to time after the end of the Covenant Relief Period with the approval of the Company’s board of directors (whether by amendment of such plan or the hedging policy adopted by the Company’s board of directors) and in a manner consistent with prudent management of risk related to volatility in prices of Petroleum Substances.”

Appears in 7 contracts

Samples: Second Amending Agreement (Penn West Petroleum Ltd.), Second Amending Agreement (Penn West Petroleum Ltd.), First Amending Agreement (Penn West Petroleum Ltd.)

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