Definition of PNC Provided Interest Rate Hedge


PNC Provided Interest Rate Hedge means an Interest Rate Hedge which is provided by PNC Bank that is (a) documented in a standard International Swap Dealer Association Agreement; (b) provides for the method of calculating the reimbursable amount of the provider's credit exposure in a reasonable and customary manner; and (c) is entered into for hedging (rather than speculative) purposes.

Examples of PNC Provided Interest Rate Hedge in a sentence

On or before the Closing Date, the Borrower may enter into a PNC-Provided Interest Rate Hedge on terms and conditions acceptable to the Lender.