Common use of Swaps Clause in Contracts

Swaps. No Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 66 contracts

Samples: Guaranty and Security Agreement (Dril-Quip Inc), Security Agreement (Dril-Quip Inc), Guaranty and Security Agreement (Dril-Quip Inc)

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Swaps. No Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 17 contracts

Samples: Revolving Credit (Teamstaff Inc), Security Agreement (Union Drilling Inc), Revolving Credit and Security Agreement (E Com Ventures Inc)

Swaps. No Borrower is not a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 11 contracts

Samples: Revolving Credit and Security Agreement (Cygne Designs Inc), Security Agreement (Fonda Group Inc), Credit and Security Agreement (Badger Paper Mills Inc)

Swaps. No Borrower is not a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 11 contracts

Samples: Security Agreement (Goodman Networks Inc), Security Agreement (Hudson Technologies Inc /Ny), Security Agreement (Research Pharmaceutical Services, Inc.)

Swaps. No Neither the Borrower or any of its Subsidiaries is a party to, nor will it be a party to, any swap agreement whereby such Borrower or Subsidiary has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 3 contracts

Samples: Credit Agreement (Pacific Ethanol, Inc.), Assignment and Assumption (Aventine Renewable Energy Holdings Inc), Credit Agreement (Aventine Renewable Energy Holdings Inc)

Swaps. No Borrower is a party to, nor will it be a party to, any ----- swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 3 contracts

Samples: Revolving Credit and Security Agreement (Styrochem International LTD), Credit and Security Agreement (Styrochem International Inc), Air Methods Corp

Swaps. No Borrower Party is a party to, nor will it be a party to, any swap agreement whereby such Borrower Party has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Horsehead Holding Corp), Revolving Credit and Security Agreement (Horsehead Holding Corp)

Swaps. No Except as otherwise agreed by Agent, no Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (SMTC Corp), Security Agreement (SMTC Corp)

Swaps. No Borrower or Guarantor is a party to, nor will it be a party to, any swap agreement whereby such Borrower or Guarantor has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Build-a-Bear Workshop Inc), Revolving Credit and Security Agreement (Build a Bear Workshop Inc)

Swaps. No With the exception of a swap agreement entered into with respect to this Agreement, no Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Security Agreement (Franklin Electronic Publishers Inc)

Swaps. No Neither Borrower nor Guarantor is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 1 contract

Samples: Credit and Security Agreement (Cold Metal Products Inc)

Swaps. No Borrower is not a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-two way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Security Agreement (Union Drilling Inc)

Swaps. No Borrower Party is a party to, nor will it be a party to, any swap agreement whereby such Borrower Party has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 1 contract

Samples: Security Agreement (Horsehead Holding Corp)

Swaps. No Borrower is not a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party. 5.20.

Appears in 1 contract

Samples: Credit, Term Loan And Security Agreement (Measurement Specialties Inc)

Swaps. No As of the Closing Date, no Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either partycurrencies.

Appears in 1 contract

Samples: Security Agreement (Osteotech Inc)

Swaps. No Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages payments upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 1 contract

Samples: Security Agreement (Brightstar Corp.)

Swaps. No Other than Permitted Currency Hedge Agreements and Lender Provided Hxxxxx, Borrower is not a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Security Agreement (Apac Customer Service Inc)

Swaps. No Borrower is a party to, nor will it any Borrower be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Credit Agreement (STG Group, Inc.)

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Swaps. No Borrower is not a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to pledge any collateral for such arrangement or to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 1 contract

Samples: Security Agreement (Danskin Inc)

Swaps. No Borrower is a party to, nor will it be a party to, other than as permitted hereunder, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Security Agreement (Phosphate Holdings, Inc.)

Swaps. No Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party. 5.20.

Appears in 1 contract

Samples: Security Agreement (Terrace Holdings Inc)

Swaps. No Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event it is or has been (i) effected in a standard International Swap Dealer Association Agreement or such other standard form as is acceptable to Agent, (ii) shall provide for the method of default thereunder are payable on an unlimited “two-way calculating the reimbursable amount of the provider's credit exposure in a reasonable and customary basis” without regard , and (iii) is not speculative in nature but relates to fault on a hedging of indebtedness or currency exposure of the part of either partyBorrowers.

Appears in 1 contract

Samples: Credit and Security Agreement (Foster L B Co)

Swaps. No Neither any Borrower nor any Guarantor is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.. Revolving Credit and Security Agreement

Appears in 1 contract

Samples: Credit and Security Agreement (Horizon Offshore Inc)

Swaps. No Borrower nor any of their respective Subsidiaries is a party to, nor will it be a party to, any swap agreement whereby such Borrower Person has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Intercreditor Agreement (Empeiria Acquisition Corp)

Swaps. No Borrower is is, as of the date of this Agreement, a party to, nor will it be a party to, to any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Security Agreement (Hutchinson Technology Inc)

Swaps. No Borrower is not a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap currencies or interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either partyrates.

Appears in 1 contract

Samples: Loan and Security Agreement (Atari Inc)

Swaps. No Other than a Lender-Provided Interest Rate Hedge, no Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Security Agreement (Presstek Inc /De/)

Swaps. No Borrower is a party to, nor will it be a party to, any swap agreement whereby such any Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Pietrafesa Corp)

Swaps. No Borrower is a party to, nor will it be a party to, any swap agreement whereby such a Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 1 contract

Samples: Security Agreement (E Com Ventures Inc)

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