Hedging Principles Clause Samples

Hedging Principles. 2.1 For the period from the date of this Agreement until the date falling four years thereafter, the Company must at all times ensure that it maintains Hedging Agreements that provide for interest rate swaps with an aggregate notional amount equal to at least 80 per cent. of the aggregate principal amount then outstanding under the Facility Agreements. 2.2 The Company must on any date falling at least two years after the date of this Agreement ensure that it maintains Hedging Agreements that provide for interest rate swaps with an aggregate notional amount equal to at least 80 per cent. of the aggregate principal amount outstanding under the Facility Agreements at that time for a period ending on the earlier of the date which is two years from such date and the Final Maturity Date. 2.3 The Company is the only Group Company that may enter into Hedging Agreements and the Company shall procure that no other Group Company enters into Hedging Agreements or any similar agreements. 2.4 The interest rate swaps contemplated by paragraphs 2.1 and 2.2 shall provide for the Company to pay a fixed rate of interest in respect of the relevant notional amount. 2.5 The Company shall not enter into any new Hedging Agreements if the aggregate notional amount of the Transactions outstanding is equal to or more than 100% of the aggregate principal amount outstanding under the Facility Agreements. 2.6 The Company shall provide quarterly updates to the Participating Lenders of the notional amounts of the Hedging Agreements as a percentage of principal amounts then outstanding under the Facility Agreements, together with details as to the termination dates of such Hedging Agreement.