Common use of Hedging Transactions Clause in Contracts

Hedging Transactions. No Loan Party will, and no Loan Party will permit any of its Restricted Subsidiaries to, enter into any Hedging Transaction, other than Hedging Transactions entered into by any Loan Party or any of its Restricted Subsidiaries in the ordinary course of business to hedge or mitigate risks to which such Loan Party or any of its Restricted Subsidiaries is exposed in the conduct of its business or the management of its liabilities. Solely for the avoidance of doubt, each Loan Party acknowledges that a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedging Transaction under which any Loan Party or any of its Restricted Subsidiaries is or may become obliged to make any payment (i) in connection with the purchase by any third party of any Capital Stock or any Indebtedness or (ii) as a result of changes in the market value of any Capital Stock or any Indebtedness) is not a Hedging Transaction entered into in the ordinary course of business to hedge or mitigate risks.

Hedging Transactions. No Loan Party willThe REIT Guarantor and the Borrower will not, and no Loan Party will not permit any of its Restricted their respective Subsidiaries to, enter into any Hedging Transaction, other than Hedging Transactions entered into by any Loan Party or any of its Restricted Subsidiaries in the ordinary course of business to hedge or mitigate risks to which such Loan Party the REIT Guarantor, the Borrower or any of its Restricted their respective Subsidiaries is exposed in the conduct of its business or the management of its liabilities. Solely for the avoidance of doubt, the REIT Guarantor and the Borrower each Loan Party acknowledges that a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedging Transaction under which any Loan Party the REIT Guarantor, the Borrower or any of its Restricted their respective Subsidiaries is or may become obliged to make any payment (i) in connection with the purchase by any third party of any Capital Stock or any Indebtedness or (ii) as a result of changes in the market value of any Capital Stock or any Indebtedness) is not a Hedging Transaction entered into in the ordinary course of business to hedge or mitigate risks.

Hedging Transactions. No Loan Party willThe Borrower will not, and no Loan Party will not permit any of its Restricted Subsidiaries to, enter into any Hedging Transaction, other than (a) Hedging Transactions required by Section 5.16 and (b) Hedging Transactions entered into by any Loan Party or any of its Restricted Subsidiaries in the ordinary course of business to hedge or mitigate risks to which such Loan Party the Borrower or any of its Restricted Subsidiaries is exposed in the conduct of its business or the management of its liabilities. Solely for the avoidance of doubt, each Loan Party the Borrower acknowledges that a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedging Transaction under which any Loan Party the Borrower or any of its Restricted Subsidiaries is or may become obliged to make any payment (i) in connection with the purchase by any third party of any Capital Stock or any Indebtedness or (ii) as a result of changes in the market value of any Capital Stock or any Indebtedness) is not a Hedging Transaction entered into in the ordinary course of business to hedge or mitigate risks.

Hedging Transactions. No Loan Party willThe Borrower will not, and no Loan Party will not permit any of its Restricted the Subsidiaries to, enter into any Hedging Transaction, other than (a) Hedging Transactions required by Section 5.10 and (b) Hedging Transactions entered into by any Loan Party or any of its Restricted Subsidiaries in the ordinary course of business to hedge or mitigate risks to which such Loan Party the Borrower or any of its Restricted Subsidiaries Subsidiary is exposed in the conduct of its business or the management of its liabilities. Solely for the avoidance of doubt, each Loan Party the Borrower acknowledges that a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedging Transaction under which any Loan Party the Borrower or any of its Restricted the Subsidiaries is or may become obliged to make any payment (i) in connection with the purchase by any third party of any Capital Stock or any Indebtedness or (ii) as a result of changes in the market value of any Capital Stock or any Indebtedness) is not a Hedging Transaction entered into in the ordinary course of business to hedge or mitigate risks.

Hedging Transactions. No Loan Party willThe Borrower will not, and no Loan Party will not permit any of its Restricted the Subsidiaries to, enter into any Hedging Transaction, other than (i) Hedging Transactions entered into by any Loan Party or any of its Restricted Subsidiaries in the ordinary course of business to hedge or mitigate risks to which such Loan Party the Borrower or any of its Restricted Subsidiaries Subsidiary is exposed in the conduct of its business or the management of its liabilitiesliabilities and (ii) Hedging Transactions consisting of Permitted Financial Institution Subsidiary Indebtedness. Solely for the avoidance of doubt, each Loan Party the Borrower acknowledges that a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedging Transaction under which any Loan Party the Borrower or any of its Restricted the Subsidiaries is or may become obliged to make any payment (i) in connection with the purchase by any third party of any Capital Stock or any Indebtedness or (ii) as a result of changes in the market value of any Capital Stock or any Indebtedness) is not a Hedging Transaction entered into in the ordinary course of business to hedge or mitigate risks.

Hedging Transactions. No Loan Party willThe Borrower will not, and no Loan Party will not permit any of its Restricted Subsidiaries the Loan Parties to, enter into any Hedging Transaction, other than (a) Hedging Transactions required by Section 5.16, and (b) Hedging Transactions entered into by any Loan Party or any of its Restricted Subsidiaries in the ordinary course of business to hedge or mitigate risks to which such Loan Party the Borrower or any of its Restricted Subsidiaries the Loan Parties is exposed in the conduct of its business or the management of its liabilities. Solely for the avoidance of doubt, each Loan Party the Borrower acknowledges that a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedging Transaction under which any Loan Party the Borrower or any of its Restricted Subsidiaries the Loan Parties is or may become obliged to make any payment (i) in connection with the purchase by any third party of any Capital Stock or any Indebtedness Indebtedness, or (ii) as a result of changes in the market value of any Capital Stock or any IndebtednessStock) is not a Hedging Transaction entered into in the ordinary course of business to hedge or mitigate risks.

Hedging Transactions. No Loan Party willThe Borrower will not, and no Loan Party will not permit any of its Restricted the Subsidiaries to, enter into any Hedging Transaction, other than (i) those permitted under section (k) of the defined term Permitted Financial Institution Indebtedness, or (ii) Hedging Transactions entered into by any Loan Party or any of its Restricted Subsidiaries in the ordinary course of business to hedge or mitigate risks to which such Loan Party the Borrower or any of its Restricted Subsidiaries Subsidiary is exposed in the conduct of its business or the management of its liabilities. Solely for the avoidance of doubt, each Loan Party the Borrower acknowledges that a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedging Transaction under which any Loan Party the Borrower or any of its Restricted the Subsidiaries is or may become obliged to make any payment (i) in connection with the purchase by any third party of any Capital Stock Equity Interests or any Indebtedness or (ii) as a result of changes in the market value of any Capital Stock Equity Interests or any Indebtedness) is not a Hedging Transaction entered into in the ordinary course of business to hedge or mitigate risks.

Hedging Transactions. No Loan Party Borrower will, and no Loan Party will not permit any of its Restricted the Subsidiaries to, enter into any Hedging Transaction, other than Hedging Transactions entered into by any Loan Party or any of its Restricted Subsidiaries in the ordinary course Ordinary Course of business Business of such Borrower or such Subsidiary to hedge or mitigate risks to which such Loan Party any - 81 - 6597425.v16 0000-0000-0000 v2 Borrower or any of its Restricted Subsidiaries Subsidiary is exposed in the conduct of its business or the management of its liabilities. Solely for the avoidance of doubt, each Loan Party Borrower acknowledges that a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedging Transaction under which any Loan Party Borrower or any of its Restricted Subsidiaries Subsidiary is or may become obliged to make any payment (i) in connection with the purchase by any third party of any Capital Stock Equity Interest or any Indebtedness or (ii) as a result of changes in the market value of any Capital Stock Equity Interest or any Indebtedness) is not a Hedging Transaction entered into in the ordinary course Ordinary Course of business Business to hedge or mitigate risks.

Hedging Transactions. No Loan Party willThe Borrower will not, and no Loan Party will not permit any of its Restricted the Subsidiaries to, enter into any Hedging Transaction, other than (a) Hedging Transactions required by Section 5.10 and (b) Hedging Transactions entered into by any Loan Party or any of its Restricted Subsidiaries in the ordinary course of business to hedge or mitigate risks to which such Loan Party the Borrower or any of its Restricted Subsidiaries Subsidiary is exposed exposed, or is reasonably anticipated to be exposed, in the conduct of its business or the management of its liabilities. Solely for the avoidance of doubt, each Loan Party the Borrower acknowledges that a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedging Transaction under which any Loan Party the Borrower or any of its Restricted the Subsidiaries is or may become obliged to make any payment (i) in connection with the purchase by any third party of any Capital Stock or any Indebtedness or (ii) as a result of changes in the market value of any Capital Stock or any Indebtedness) is not a Hedging Transaction entered into in the ordinary course of business to hedge or mitigate risks.

Hedging Transactions. No Loan Party willThe Borrower will not, and no Loan Party will not permit any of its Restricted the Subsidiaries to, enter into any Hedging Transaction, other than than: (i) Hedging Transactions entered into by any Loan Party or any of its Restricted Subsidiaries in the ordinary course of business to hedge or mitigate risks to which such Loan Party the Borrower or any of its Restricted Subsidiaries Subsidiary is exposed in the conduct of its business or the management of its liabilitiesliabilities and (ii) the 2004 Convertible Debenture Hxxxxx. Solely for the avoidance of doubt, each Loan Party the Borrower acknowledges that a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedging Transaction under which any Loan Party the Borrower or any of its Restricted the Subsidiaries is or may become obliged to make any payment (i) in connection with the purchase by any third party of any Capital Stock common stock or any Indebtedness or (ii) as a result of changes in the market value of any Capital Stock common stock or any Indebtedness) is not a Hedging Transaction entered into in the ordinary course of business to hedge or mitigate risks.

Hedging Transactions. No Loan Party willThe Borrower will not, and no Loan Party will not permit any of its Restricted the Subsidiaries to, enter into any Hedging Transaction, other than (i) Hedging Transactions entered into by any Loan Party or any of its Restricted Subsidiaries in the ordinary course of business to hedge or mitigate risks to which such Loan Party the Borrower or any of its Restricted Subsidiaries Subsidiary is exposed in the conduct of its business or the management of its liabilities, and (ii) Hedging Transactions constituting Permitted Financial Institution Subsidiary Indebtedness. Solely for the avoidance of doubt, each Loan Party the Borrower acknowledges that a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedging Transaction under which any Loan Party the Borrower or any of its Restricted the Subsidiaries is or may become obliged to make any payment (i) in connection with the purchase by any third party of any Capital Stock or any Indebtedness or (ii) as a result of changes in the market value of any Capital Stock or any Indebtedness) is not a Hedging Transaction entered into in the ordinary course of business to hedge or mitigate risks.

Hedging Transactions. No Loan Party willThe Borrower will not, and no Loan Party will not permit any of its Restricted the Subsidiaries to, enter into any Hedging Transaction, other than (a) Hedging Transactions entered into by any Loan Party or any of its Restricted Subsidiaries in the ordinary course of business to hedge or mitigate risks to which such Loan Party the Borrower or any of its Restricted Subsidiaries Subsidiary is exposed in the conduct of its business or the management of its liabilitiesliabilities and which do not exceed in the aggregate Ten Million Dollars ($10,000,000). Solely for the avoidance of doubt, each Loan Party the Borrower acknowledges that a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedging Transaction under which any Loan Party the Borrower or any of its Restricted the Subsidiaries is or may become obliged to make any payment (i) in connection with the purchase by any third party of any Capital Stock common stock or any Indebtedness or (ii) as a result of changes in the market value of any Capital Stock common stock or any Indebtedness) is not a Hedging Transaction entered into in the ordinary course of business to hedge or mitigate risks.