Speculative Trading. The Company shall not, and shall not permit any Subsidiary to (a) engage in transactions in futures contracts and options to purchase or sell futures contracts for speculative purposes other than as part of normal business operations as a risk-management strategy and/or a hedge against changes resulting from market conditions, or (b) enter into any Swap Contract or any other similar agreement other than to protect the Company against fluctuations in interest rates, currency exchange rates or commodity prices.
Appears in 4 contracts
Samples: Credit Agreement (Clark Refining & Marketing Inc), Credit Agreement (Clark Refining & Marketing Inc), Credit Agreement (Premcor Refining Group Inc)
