Permitted Hedging Obligation means any obligation of any Group Company under a derivative transaction entered into with one or more hedging counterparties in connection with protection against or benefit from fluctuation in any rate or price, where such exposure arises in ordinary course of business or in respect of payments to be made under any Permitted Financial Indebtedness (but not a derivative transaction for investment or speculative purposes). Any Permitted Hedging Obligation may be secured by the Pre-Disbursement Security, which shall be shared between the Secured Parties in accordance with the terms of the Intercreditor Agreement, and any additional security as permitted under paragraph (b) of the definition of "Permitted Security".
Permitted Hedging Obligation means any Hedging Obligation entered into by the Company or any Restricted Subsidiary for the purpose of limiting risks associated with the business of the Company and its Restricted Subsidiaries and not for speculation.
Permitted Hedging Obligation at any time, Hedging Obligations designed to manage interest rates or interest rate risk or protect against fluctuations in currency exchange rates, commodity prices or freight rates and not for speculative purposes (all as determined by the Company on the date of entering into such Hedging Obligation). Forward Freight Agreements entered into by the Company in its good faith determination for the purpose of hedging available days against fluctuations in freight rates (as so determined by the Company on the date of entering into such Forward Freight Agreement) shall be deemed to have been entered into not for speculative purposes and shall qualify as “Permitted Hedging Obligations” for all purposes under this Agreement.
Examples of Permitted Hedging Obligation in a sentence
Any Permitted Hedging Obligation may be secured by the Disbursement Security, which shall be shared between the Secured Parties in accordance with the terms of the Intercreditor Agreement, and any additional security as permitted under paragraph (b) of the definition of "Permitted Security".
Any Permitted Hedging Obligation may be secured by the Pre-Disbursement Security, which shall be shared between the Secured Parties in accordance with the terms of the Intercreditor Agreement, and any additional security as permitted under paragraph (b) of the definition of “Permitted Security”.
More Definitions of Permitted Hedging Obligation
Permitted Hedging Obligation means any obligation of any Group Company under a derivative transaction entered into with one or more hedging counterparties in connection with protection against or benefit from fluctuation in any rate or price, where such exposure arises in the ordinary course of business or in respect of payments to be made under this Bond Agreement (but not derivative transaction entered into for investment or speculative purposes).
Permitted Hedging Obligation means any Hedging Obligation entered into by the Issuer or any Restricted Subsidiary for the purpose of limiting risks associated with the business of the Issuer and its Restricted Subsidiaries and not for speculation.
Permitted Hedging Obligation means any obligation of a Group Company under a non speculative derivative transaction entered into with one or more hedge counterparties in connection with the protection against or benefit from fluctuations in any rate or price where such exposure arise in the ordinary course of business or in respect of payments to be made under the Bond Terms.
Permitted Hedging Obligation means any obligation of any Group Company under a derivative transaction (but not a derivative transaction for investment or speculative purposes) entered into with one or more Hedge Counterparty in connection with protection against or benefit from fluctuation in any rate or price,where such exposure arises in the ordinary course of business or in respect of payments to be made under
Permitted Hedging Obligation at any time, Hedging Obligations designed to manage interest rates or interest rate risk or protect against fluctuations in currency exchange rates, commodity prices or freight rates and not for speculative purposes (all as determined by the Company on the date of entering into such Hedging Obligation).
Permitted Hedging Obligation means any obligation of any Group Company under a derivative transaction entered into with one or more hedge counterparties in connection with protection against fluctuation in any rate or price (but not a derivative transaction for investment or speculative purposes), in the ordinary course of business.
Permitted Hedging Obligation means any obligation of any Group Company under a derivative transaction entered into with one or more hedge counterparties in connection with protection against or benefit from fluctuation in any rate (including currency) or price, where such exposure arises in the ordinary course of business or in respect of payments to be made under these Terms and Conditions, the Super Senior RCF Documents or any New Debt Document (but not a derivative transaction for investment or speculative purposes).