Common use of Other Swaps Clause in Contracts

Other Swaps. Each Borrower may enter into other master agreements and/or derivative instruments with any third party swap provider for the purposes of hedging its exposure under this Agreement to interest rate fluctuations provided that: a. the Swap Banks shall have a right of first refusal in respect of providing such swap/derivative lines to the Borrowers; and b. in the event a Swap Bank is not the chosen provider of such swap/derivative lines to the Borrowers, such third party swap provider does not share in any Security Interest created under any Finance Document and is fully subordinated to the rights of the Creditor Parties under the Finance Documents.

Other Swaps. Each Borrower may enter into other master agreements and/or derivative instruments with any third party swap provider for the purposes of hedging its exposure under this Agreement to interest rate fluctuations provided that: a. (a) the Swap Banks Bank shall have a right of first refusal in respect of providing such swap/derivative lines to the Borrowers; and b. (b) in the event a the Swap Bank is not the chosen provider of such swap/derivative lines to the BorrowersBorrower, such third party swap provider does not share in any Security Interest created under any Finance Document and is fully subordinated to the rights of the Creditor Parties under the Finance Documents.