Common use of Hedging Policy Clause in Contracts

Hedging Policy. (a) The Seller: (i) shall comply with the Hedging Policy in respect of any hedging agreements or arrangements entered into by it in relation to the Purchase Price of any Product sold pursuant to the Sale and Purchase Agreement; (ii) shall promptly, but in any event no later than five (5) Business Days prior to its entry into any such agreement or arrangement, notify the Agent of its intention to enter into any such hedging agreement or arrangement; and (iii) agrees and acknowledges that Banco Santander S.A. shall have a 'right to match' any such hedging agreement or arrangement that is notified to it by the Seller in accordance with this Clause 20.23. (b) The Seller shall not enter into any Treasury Transaction, other than as expressly permitted under the Hedging Policy.

Hedging Policy. (a) The Each Seller: (i) shall comply with the Hedging Policy in respect of any hedging agreements or arrangements entered into by it in relation to the Purchase Price of any Product sold pursuant to the a Sale and Purchase Agreement; (ii) shall promptly, but in any event no later than five (5) Business Days prior to its entry into any such agreement or arrangement, notify the Agent of its intention to enter into any such hedging agreement or arrangement; and (iii) agrees and acknowledges that Banco Santander S.A. shall have a '‘right to match' ’ any such hedging agreement or arrangement that is notified to it by the Seller Sellers in accordance with this Clause 20.23. (b) The No Seller shall not enter into any Treasury Transaction, other than as expressly permitted under the Hedging Policy.