Rate Management Transactions. Borrower will not, and will not permit any Subsidiary to, enter into any Rate Management Transactions, except for Rate Management Transactions which are entered into solely for hedging purposes.
Rate Management Transactions. The Borrower is permitted to enter into Rate Management Transactions with the Lenders (and/or their affiliates).
Rate Management Transactions. Nonpayment by Borrower of any Rate Management Obligation when due or the breach by Borrower of any term, provision or condition contained in any Rate Management Transaction.
Rate Management Transactions. Neither the Borrower nor any Subsidiary will be a party to or in any manner be liable on any Rate Management Transactions except:
Rate Management Transactions. As of the date of this Agreement, Schedule 5 sets forth a true and complete list of all current Rate Management Transactions (including contracts of sale which provide for prepayment for deferred shipment or delivery of oil, gas or other commodities) of the Credit Parties and their counterparties.
Rate Management Transactions. The Borrower is permitted to enter into Rate Management Transactions with the Lender.
Rate Management Transactions. Neither either Borrower nor Guarantor will, and will not permit any Subsidiary to, enter into any Rate Management Transactions, except the foregoing prohibitions shall not apply to (x) transactions required by this Agreement or consented to in writing by the Majority Lenders, in each case which are on terms acceptable to the Majority Lenders, or (y) transactions by Borrowers designed to hedge, provide a floor price for, or swap crude oil or natural gas, provided that (i) the same do not cover more than eighty-five percent (85%) of Borrowers' aggregate estimated monthly crude oil and natural gas production from Borrowers' proved producing crude oil and natural gas reserves existing as of the date of the execution thereof based upon the then most current reserve evaluation required pursuant to Section 12(a)(iii) above and determined on a BOE Basis, (ii) the same do not cover more than 100% of Borrowers' aggregate estimated proved producing crude oil production or more than 100% of Borrowers' aggregate estimated proved producing natural gas production, each as existing as of the date of the execution thereof based upon the then most current reserve evaluation required pursuant to Section 12(a)(iii) above, (iii) the same do not contain terms or provisions which would require margin calls, (iv) the counterparty to any such transaction has a minimum rating of "A-1" by Standard & Poors' Corporation or "A-3" by Xxxxx'x Investors Service, Inc., (v) the same are for a term not extending beyond the Maturity Date, and (vi) the same include provisions for payment to Borrowers upon the occurrence of specified price indexes of a price per unit of measurement equal to or greater than that under the Agent's then current pricing policies; or, provided that (A) the same do not cover more than ninety percent (90%) of Borrowers' aggregate estimated monthly crude oil and natural gas production from Borrowers' proved producing crude oil and natural gas reserves existing as of the date of the execution thereof based upon the then most current reserve evaluation required pursuant to Section 12(a)(iii) above and determined on a BOE Basis, (B) the same do not cover more than seventy-five percent (75%) of Borrowers' aggregate estimated monthly crude oil and natural gas production from all categories of Borrowers' proved crude oil and natural gas reserves existing as of the date of the execution thereof based upon the then most current reserve evaluation required pursuant to Section 1...
Rate Management Transactions. Payment of any and all obligations, contingent or otherwise, whether now existing or hereafter arising, of Pledgor, any Borrower or any Subsidiary Guarantor to the Lenders or to any of their Affiliates or successors arising under or in connection with Rate Management Transactions (as hereinafter defined). For the purposes hereof, the term "Rate Management Transactions" means any transactions (including an agreement with respect thereto) now existing or hereafter entered into among Pledgor, any Borrower or any Subsidiary Guarantor with any Lender or any Affiliate or successor to any Lender, which is a rate swap, basic swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, forward exchange transaction, cap transaction, collar transaction, forward transaction, currency swap transaction, cross-currency rate swap transaction, currency option or any other similar transaction (including any option with respect to any of these transactions) or any combination thereof, whether linked to one or more interest rates, foreign currencies, commodity prices, equity prices or other financial measures.
Rate Management Transactions. 50 11.13 Validity and Enforceability of Credit Documents...............50 11.14 Material Agreement Default or Cancellation....................50 11.15
Rate Management Transactions of the Credit Agreement is hereby amended by deleting the section in its entirety and substituting the following:
