Permitted Swap Agreement definition

Permitted Swap Agreement means an Interest Rate Protection Agreement between the Borrower and a Permitted Swap Provider.

Permitted Swap Agreement means any Swap Agreement permitted by Section 6.13 that is entered into by the Borrower or any Restricted Subsidiary.

Permitted Swap Agreement means any Swap Agreement entered into in order to effectively cap, collar or exchange interest or foreign exchange rates with respect to any liability or investment of the Parent, the Borrower or any of the Operating Utilities.

Examples of Permitted Swap Agreement in a sentence

• Enter into any Hedge Agreement other than a Permitted Swap Agreement; provided that, no such agreement may be entered into unless and until the Borrower and Administrative Agent have agreed on a methodology in which to ascribe value to the payments proposed to be made under any such agreement.

• It typically takes 400-600 feet to make the “turn” of the wellbore from the top of the Barnett Shale until the drainhole is horizontal.

• Enter into any Hedging Agreement other than a Permitted Swap Agreement.

• The parties hereby acknowledge and agree that amendments and modifications to this Agreement and the other Financing Documents will be required in connection with the execution and delivery of a Permitted Swap Agreement and that such amendments and modifications must be in form, structure and substance acceptable to the Administrative Agent and Majority Lenders.

• To the extent required pursuant to the terms of a Permitted Swap Agreement, Borrower shall pay all termination amounts owed by Borrower and all costs, fees and expenses incurred by Borrower in connection with any unwinding or termination of any Hedge Transactions thereunder (“Hedge Breaking Fees”), all to the extent provided in and as calculated pursuant to the applicable Permitted Swap Agreements.

More Definitions of Permitted Swap Agreement

Permitted Swap Agreement means any Swap Agreement entered into by any Existing Grantor with any Hedge Bank.

Permitted Swap Agreement means (i) any Swap Agreement related to incentive stock, stock options, phantom stock or similar agreements entered into with current or former directors, officers, employees or consultants of the Borrower or the Subsidiaries, (ii) any stock option or warrant agreement for the purchase of Equity Interests of the Borrower, (iii) any Swap Agreement for the purchase of Equity Interests or Indebtedness (including securities convertible into Equity Interests) of the Borrower pursuant to delayed delivery contracts, (iv) any Permitted Bond Hedge, (v) any Swap Agreement to repurchase or redeem Equity Interests permitted pursuant to Section 6.06(e) and (vi) any of the foregoing to the extent it constitutes a derivative embedded in a convertible security issued by the Borrower, which in the case of each of the foregoing (except to the extent that a Permitted Bond Hedge may so qualify) has not be been entered into for speculative purposes.

Permitted Swap Agreement of any Person means any Swap Agreement entered into for bona fide hedging purposes and not for speculation.

Permitted Swap Agreement means a Swap Agreement to which any Debtor is a party that is permitted pursuant to Section 9.18 of the Credit Agreement.

Permitted Swap Agreement means a Swap Agreement with an Approved Counterparty on terms and conditions, and in a form reasonably acceptable to Lender, including a master swap agreement on International Swap Dealers Association forms and the schedules thereto and any confirmations thereunder which Borrower enters into with an Approved Counterparty on terms reasonably acceptable to Lender.

Permitted Swap Agreement means a Hedge Agreement under which all Non-Scheduled Payments constitute Subordinated Payments and which are (a) entered into with a financial institution counterparty with a minimum liquidity rating of A1+ by S&P and P1 by Moody’s and a long-term rating equal to or exceeding “Aa3” by Moody’s and “AA-” by S&P or

Permitted Swap Agreement means a Swap Agreement entered into with the Borrowers or the other Loan Parties that (x)(i) was in existence prior to, and is in effect as of, the Closing Date with any counterparty other than an affiliate of Holdings and (ii) was secured by the “Collateral” as defined in the Existing Credit AgreementAmendment No. 2 Effective Date, (y) is entered into after the ClosingAmendment No. 2 Effective Date, in each case, with any counterparty that is a Lender, Agent or Joint Lead Arranger (or an Affiliate of a Lender, Agent or Joint Lead Arranger) at the time such Swap Agreement is entered into, unless such Swap Agreement states that it is not a Permitted Swap Agreement for purposes of the definitions of “Secured Creditors” and “Secured Obligations” or (z) is in effect as of the ClosingAmendment No. 2 Effective Date with The Governor and Company of the Bank of Ireland or an Affiliate thereof.