Hedging Reserves definition

Hedging Reserves means the determination by the Collateral Agent, in consultation with any Lender or any of its Affiliates that enters into a Hedging Agreement in respect of interest rates or commodity prices with any of the Loan Parties, reasonably and in good faith from the perspective of an asset-based lender, of an appropriate reserve against the Borrowing Base with respect to the exposures of the Loan Parties in respect of such Hedging Agreement relating to interest rates or commodity prices; provided, that, the maximum amount of “Hedging Reserves” shall in no event exceed $35,000,000.

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Hedging Reserves means such reserves as the Administrative Agent, from time to time, determines in its Permitted Discretion to reflect the reasonably anticipated liabilities and obligations of the Credit Parties with respect to applicable Hedging Obligations under Secured Hedging Agreements then provided or outstanding, to the extent secured by the applicable Collateral included in the applicable Borrowing Base.

Hedging Reserves means, at any time, a mark-to-market reserve in respect of the Hedging Obligations then outstanding between the Borrowers and the Lender, as determined by the Lender in its Permitted Discretion and as adjusted from time to time by the Lender in its Permitted Discretion, whether as a result of a change in the reserve methodology used by the Lender or otherwise.

Examples of Hedging Reserves in a sentence

In the case of the immediately preceding sub-clause (ii), until Dealer Polling results in an alternative MTM value, the MTM value provided by the Hedging Party shall be used for purposes of calculating the Designated Hedging Reserves.
If a Hedging Party provides an MTM value in respect of the relevant Designated Hedging Agreement subsequent to the determination of an MTM value in accordance with a Dealer Polling, such MTM value so provided by the Hedging Party shall be used in calculating the relevant portion of the Designated Hedging Reserves; provided that the Parent Borrower may disagree with such new MTM value and commence a new Dealer Polling in accordance with these provisions.
In addition, the Collateral Agent shall have the right from time to time to establish, modify or eliminate Reserves and Hedging Reserves (without duplication) against hydrocarbon Inventory.
In the event the Parent Borrower does not provide such notice to the Administrative Agent, the Administrative Agent shall use such MTM value in calculating the relevant portion of the Designated Hedging Reserves.
In addition, the Collateral Agent shall have the right from time to time to establish, modify or eliminate Reserves and Hedging Reserves (without duplication) against Eligible Accounts.

More Definitions of Hedging Reserves

Hedging Reserves means at any time a reserve (which is currently calculated as a percentage, which percentage is currently 10%) in respect of the nominal amount of all foreign exchange contracts (including without limitation hedging, futures and option agreements) then outstanding between the Borrower and LaSalle, as determined by LaSalle in its sole discretion. LaSalle reserves the right to change the reserve percentage or the hedging reserve methodology (including a ▇▇▇▇ to market calculation method or basis) at its sole discretion from time to time.

Hedging Reserves means an Availability Reserve in an amount (reflected in Dollars), calculated as of any date, equal to Borrower’s net liability under Hedging Agreements to which Borrower is a party with respect to which the counterparty is a Lender or Secured Affiliate, calculated in accordance with GAAP, with such calculation subject to review and approval by the Administrative Agent.

Hedging Reserves means at any time a reserve (which is currently calculated as a percentage, which percentage is currently 8%) in respect of the nominal amount of all foreign exchange contracts (including without limitation hedging, futures and option agreements) then outstanding between the Borrower and ABN AMRO, as determined by ABN AMRO in its sole discretion. ABN AMRO reserves the right to change the reserve percentage or

Hedging Reserves means Reserves established by Agent from time to time with respect to Borrowers' Indebtedness arising under Hedging Agreements, as determined by Agent in good faith.