Permitted Commodity Xxxxxx definition

Permitted Commodity Xxxxxx means obligations of the Applicant with respect to commodity agreements or other similar agreements or arrangements entered into in the ordinary course of business designed to protect against, or mitigate risks with respect to, fluctuations of commodity prices to which the Applicant or any Subsidiary is exposed to in the conduct of its business so long as (i) the management of the Applicant has determined that entering into such agreements or arrangements are bona fide hedging activities which comply with the Applicant’s risk management policies and (ii) such agreements or arrangements are not entered into for speculative purposes and are not of a speculative nature.
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Permitted Commodity Xxxxxx means non-speculative transactions in futures, forwards, swaps or option contracts (including both physical and financial settlement transactions), entered into by the Company or any Subsidiary as part of its normal business operations with the purpose and effect of hedging prices as a risk management strategy or hedge against adverse changes in the prices of natural gas or oil and not for speculative purposes (including without limitation commodity price xxxxxx, swaps, caps, floors, collars and similar agreements designed to protect the Company or any such Subsidiary against fluctuations in commodity prices or any option with respect to any such transaction) and not intended primarily as a borrowing of funds, provided (i) with respect to natural gas xxxxxx, the notional volumes of such xxxxxx (when aggregated with other Permitted Commodity Xxxxxx of natural gas then in effect) do not exceed, as of the date such hedge agreement is executed, 75% of the projected production of natural gas from existing developed producing Oil and Gas Properties by the Company and its Subsidiaries as shown in the most recent Independent Reserve Report or Internal Engineering Report delivered pursuant to Section 6A(iv), and (ii) with respect to oil xxxxxx, the notional volumes of such xxxxxx when aggregated with other Permitted Commodity Xxxxxx of oil then in effect) do not exceed, as of the date such hedge agreement is executed, 75% of the projected production of oil from existing developed producing Oil and Gas Properties by the Company and its Subsidiaries as shown in the most recent Independent Reserve Report or Internal Engineering Report delivered pursuant to Section 6A(iv).
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Permitted Commodity Xxxxxx means any transaction under a Commodity -------------------------- Hedge Agreement except to the extent prohibited by the TCW Agreement and not otherwise approved by the Agent Noteholder or prohibited by the Bank Agreement and not otherwise approved by the Agent Lender.
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Related to Permitted Commodity Xxxxxx

  • Commodity Account is any “commodity account” as defined in the Code with such additions to such term as may hereafter be made.

  • Commodity customer means a person for which a commodity intermediary carries a commodity contract on its books.

  • Commodity contract means a commodity futures contract, an option on a commodity futures contract, a commodity option, or another contract if the contract or option is:

  • commodity derivatives means commodity derivatives as defined in Article 2(1)(30) of Regulation (EU) No 600/2014;

  • Commodity intermediary means a person that:

  • Commodity Interests means commodity futures contracts, options on commodity futures contracts, and options on physical commodities traded on or subject to the rules of:

  • Commodity means any material, article, supply, goods, or equipment.

  • Commodity option means an account, agreement, or contract giving a party to the account, agreement, or contract the right but not the obligation to purchase or sell one or more commodities or one or more commodity contracts, whether characterized as an option, privilege, indemnity, bid, offer, put, call, advance guaranty, decline guaranty or otherwise, but shall not include an option traded on a national securities exchange registered with the United States securities and exchange commission.

  • Commodity Hedging Agreement means a commodity hedging or purchase agreement or similar arrangement entered into with the intent of protecting against fluctuations in commodity prices or the exchange of notional commodity obligations, either generally or under specific contingencies.

  • Commodity Agreement means any forward contract, commodity swap, commodity option or other financial agreement or arrangement relating to, or the value of which is dependent upon, fluctuations in commodity prices.

  • Commodity Hedging Agreements means, in respect of a Person, any commodity purchase contract, commodity futures or forward contract, commodities option contract or other similar contract (including commodities derivative agreements or arrangements), to which such Person is a party or a beneficiary.

  • Foreign market vehicle means any motor vehicle originally manufactured outside the United States,

  • Commodities Accounts (i) shall mean all “commodity accounts” as defined in Article 9 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4 under the heading “Commodities Accounts” (as such schedule may be amended or supplemented from time to time).

  • Commodity Futures Trading Commission means the independent regulatory agency established by congress to administer the Commodity Exchange Act.

  • Commodity Agreements means, in respect of any Person, any forward contract, commodity swap agreement, commodity option agreement or other similar agreement or arrangement in respect of Hydrocarbons used, produced, processed or sold by such Person that are customary in the Oil and Gas Business and designed to protect such Person against fluctuation in Hydrocarbon prices.

  • Credit Risk Manager Fee Rate 0.0125% per annum.

  • Equivalent Collateral means, with respect to any security constituting Posted Collateral, a security of the same issuer and, as applicable, representing or having the same class, series, maturity, interest rate, principal amount or liquidation value and such other provisions as are necessary for that security and the security constituting Posted Collateral to be treated as equivalent in the market for such securities;

  • Commodity Broker means any person who engages in the business of effecting transactions in Commodity Contracts for the account of others or for his or her own account.

  • Commodity Account Control Agreement means a control agreement in a form that is reasonably satisfactory to the Collateral Agent establishing the Collateral Agent’s Control with respect to any Commodity Account.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Agricultural commodity means all agricultural, aquacultural, silvicultural, horticultural, floricultural, or viticultural products, livestock or livestock products, Christmas trees, bees, maple syrup, honey, commercial fish or fish products, and seeds produced in this state, either in their natural state or as processed by the producer of the commodity. The kinds, types, and subtypes of products to be classed together as an agricultural commodity for the purposes of this act shall be determined on the basis of common usage and practice.

  • Commodity Exchange Act means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute.

  • Eligible Customer means:

  • Credit Risk Manager Fee The fee payable to the Credit Risk Manager on each Distribution Date for its services as Credit Risk Manager, in an amount equal to one-twelfth of the Credit Risk Manager Fee Rate multiplied by the Stated Principal Balance of the Mortgage Loans immediately prior to such Distribution Date. Credit Risk Manager Fee Rate: 0.0165% per annum.

  • Credit Risk Management Fee The amount payable to the Credit Risk Manager on each Distribution Date as compensation for all services rendered by it in the exercise and performance of any and all powers and duties of the Credit Risk Manager under the Credit Risk Management Agreements, which amount shall equal one twelfth of the product of (i) the Credit Risk Management Fee Rate multiplied by (ii) the Stated Principal Balance of the Mortgage Loans and any related REO Properties as of the first day of the related Due Period.

  • Excluded Deposit Accounts means (i) any payroll account, (ii) any withholding tax, benefits, escrow, trust, customs or any other fiduciary account and (iii) any zero balance deposit account.