Swap Transactions. Notwithstanding anything herein or in any other Loan Document to the contrary, the guaranteed Obligations shall not include any Excluded Swap Obligations (as defined in the Credit Agreements)..
Swap Transactions. (a) Borrower may, but shall not be required to, enter into an Swap Transaction with a Lender acceptable to the Required Lenders (such financial institution is referred to herein as “Swap Bank”). The Lenders agree that the Swap Bank may be one of the Agents or an Affiliate of the Agents. Borrower agrees that if Borrower executes an Swap Transaction, the provisions of this Section 1.19 shall govern and apply to such Swap Transaction. Borrower acknowledges and agrees that the failure of Borrower to comply with its obligations under the Swap Transaction and to make payments when due thereunder, will be a default under this Loan and Lenders may advance funds, on Borrower’s behalf to cure Borrower’s default under the Swap Transaction. On the terms and subject to the provisions of this Agreement, Lenders will make advances from interest reserve for periodic payments under the Swap Transaction as and when they become due. All amounts advanced by Lenders to Swap Bank, Borrower or others in respect of Borrower’s obligations under the Swap Transaction shall be added to the Loan and shall be deemed a part of the Obligations secured by the Deed of Trust and the other Loan Documents. All amounts payable to Borrower pursuant to the Swap Transaction shall be paid to Administrative Agent for the ratable benefit of Lenders and applied by Lenders to the payment of interest on the Loan or other costs of the Property. Borrower acknowledges and agrees that, notwithstanding the terms of the Swap Transaction, Borrower shall not modify or terminate the Swap Transaction without the prior written consent of Administrative Agent.
Swap Transactions. References throughout this Annex to “Swap Transactions” are deleted.
Swap Transactions. Notwithstanding any provision hereof or in any other Loan Document to the contrary, in the event that any Newco Subordinated Guarantor is not an “eligible contract participant” as such term is defined in Section 1(a)(18) of the Commodity Exchange Act, as amended, at the time (i) any transaction is entered into under a Swap Agreement (as defined in the Credit Agreements) or (ii) such Newco Subordinated Guarantor becomes a Newco Subordinated Guarantor hereunder, the guaranteed Obligations of such Newco Subordinated Guarantor shall not include (x) in the case of clause (i) above, such transaction and (y) in the case of clause (ii) above, any transactions outstanding under any Swap Agreements as of such the date such Newco Subordinated Guarantor becomes a Newco Subordinated Guarantor hereunder.
Swap Transactions. (a) If, at any time during the Security Period, the Borrower wishes to enter into swap Transactions so as to (inter alia) hedge all or any part of its exposure under this Agreement to interest rate fluctuations, it shall advise the Bank in writing.
Swap Transactions. Neither the Borrower nor any of its Subsidiaries will enter into any Swap Transactions with any Person other than:
Swap Transactions. 2.7.1 If, at any time during the Security Period (as defined in the Deed of Covenant), the Borrower wishes to enter into interest rate swap transactions so as to hedge all or any part of its exposure under this Agreement to interest rate fluctuations, it shall advise the Bank in writing.
Swap Transactions. EDC has requested and the Lender has, in its sole and absolute discretion, arranged for EDC to obtain Swap Transactions from the Bank in amounts to be agreed to between EDC and Bank. Borrower agrees to indemnify and hold the Lender harmless from any and all obligations now or hereafter owing by the Lender to the Bank arising from or related to such Swap Transactions pursuant to the indemnity referred to in clause (c) below. EDC has agreed to pay the Bank all amounts owing to the Bank pursuant to the Swap Transactions. In the event EDC shall not have paid to the Bank such amounts, the Lender shall pay the Bank and such amounts when paid by the Lender shall constitute a Revolving Loan of EDC which shall be deemed to have been requested by EDC. Borrower acknowledges and agrees that the obtaining of Swap Transactions from the Bank (a) is in the sole and absolute discretion of the Bank, (b) is subject to all rules and regulations of the Bank, and (c) is due to the Bank relying on the indemnity of the Lender to the Bank with respect to the obligations of EDC to the Bank in connection with the Swap Transactions.
Swap Transactions. The Borrower may request and the Lender may, in its sole and absolute discretion, arrange for the Borrower to obtain Swap Transactions from the Bank s Capital Markets Credit Group, provided, however, that Lender's exposure to the LSB Borrowing Group may in no event exceed a maximum amount of $1,850,000. The Borrower agrees to indemnify and hold the Lender harmless from all losses, liabilities, costs, expenses and claims incurred by the Lender arising from or related to such Swap Transactions. The Borrower acknowledges and agrees that the obtaining of Swap Transactions from the Bank s Capital Markets Credit Group (a) is in the sole and absolute discretion of the Bank s Capital Markets Credit Group, (b) is subject to all rules and regulations of the Bank s Capital Markets Credit Group, and (c) is due to the Bank s Capital Markets Credit Group relying on the indemnity of the Lender to the Bank s Capital Markets Credit Group with respect to all risks of loss associated with the Swap Transactions."
Swap Transactions. The Borrowers shall consult with the Lenders prior to entering into any arrangements to hedge the Borrowers’ exposure under this Agreement to interest rate fluctuations and the Lenders shall have the right of first refusal, each to the extent of its Contribution to enter into derivative transactions in that respect, Provided that (i) the notional amount of any such derivative transactions shall not exceed the amount of the Loan and (ii) all Indebtedness of any Borrower in relation to such derivative transactions shall be fully subordinated to the obligations of the Borrowers under this Agreement in a form acceptable to the Agent (acting on the instructions of the Lenders) and the relevant Borrower and counterparty shall enter into such documentation in that regard as the Agent (acting on the instructions of the Lenders) may require. In the event that the terms of the derivative transactions offered by a Lender are not competitive, the Borrowers may conclude any swap or derivative contract in respect of that Lender’s Contribution with the other Lenders or another bank or financial institution to hedge the Borrowers’ exposure under this Agreement to interest rate fluctuations provided that, in such case, no Encumbrances may be granted by the Borrowers to such other bank or financial institution in respect of the Vessels or their Earnings or Insurances (each as defined in the relevant Ship Security Documents) or any other asset without the prior written consent of the Lenders.
