Currency Hedge Transaction definition

Currency Hedge Transaction mean an agreement made between the Borrower and a Lender for the purpose of hedging currency risk, including a currency exchange agreement or a foreign exchange forward contract.

Currency Hedge Transaction means, in respect of each Non-Euro Obligation, a cross-currency transaction entered into in respect thereof under a Currency Hedge Agreement.

Currency Hedge Transaction means each currency swap transaction, index rate swap or interest rate cap transaction or comparable derivative arrangements, in each case, as the Administrative Agent may approve in its discretion between the Borrower and a Hedge Counterparty that is entered into pursuant to Section 5.2(b) and is governed by a Hedging Agreement.

Examples of Currency Hedge Transaction in a sentence

• Any such termination in the case of a Currency Hedge Transaction would result in the Issuer being exposed to currency risk in respect of the related Non-Euro Obligations for so long as the Issuer has not entered into a replacement Currency Hedge Transaction, and may result in the Issuer being required to pay a termination amount to the relevant Hedge Counterparty.

• The Issuer will depend on each Hedge Counterparty to perform its obligations under any Currency Hedge Transaction to which it is a party and if any Hedge Counterparty defaults or becomes unable to perform due to insolvency or otherwise, the Issuer may not receive payments it would otherwise be entitled to from such Hedge Counterparty to cover its currency risk exposure.

• The Issuer will depend on each Hedge Counterparty to perform its obligations under any Currency Hedge Transaction to which it is a party and, if any Hedge Counterparty defaults or becomes unable to perform due to insolvency or otherwise, the Issuer may not receive payments it would otherwise be entitled to from such Hedge Counterparty to cover its currency risk exposure.

• Notwithstanding that Non-Euro Obligations are required to have an associated Currency Hedge Transaction which will include currency protection provisions, losses may be incurred due to fluctuations in the Euro exchange rates and in the event of a default by the relevant Currency Hedge Counterparty under any such Currency Hedge Transaction.

• However, if the Issuer has entered into a Currency Hedge Transaction pursuant to which the Issuer pays the relevant Hedge Counterparty the floored amount of interest and receives in return an amount determined by reference to EURIBOR but without a floor, the benefit of the floor under the terms of the Non-Euro Obligation for the Issuer may be negated by such Currency Hedge Transaction.

More Definitions of Currency Hedge Transaction

Currency Hedge Transaction means either: (i) a Currency Hedge Swap Transaction; or (ii) a Currency Hedge Notes Transaction.

Currency Hedge Transaction means, for a Currency Conversion, one or more Currency swap transactions entered into by the Bank with a Counterparty as of the Execution Date and in accordance with the Conversion Guidelines, in connection with the Currency Conversion.

Currency Hedge Transaction means a currency hedge transaction (other than an Asset Swap Transaction) entered into in accordance with the Hedging Procedures under a 1992 ISDA Master Agreement (Multicurrency-Cross Border) or 2002 ISDA Master Agreement (or such other pro forma master agreement as may be published by ISDA from time to time) (together with the schedule relating thereto, the applicable confirmation including any guarantee thereof and any credit support annex entered into pursuant to the items thereof and each as amended or supplemented from time to time, a "Currency Hedge Agreement"), which is entered into between the Issuer and a Currency Hedge Counterparty.

Currency Hedge Transaction means, in respect of a Currency Conversion, one or more currency swap transactions entered into by ADB with a Counterparty as of the Execution Date and in accordance with the Conversion Guidelines, in connection with such Currency Conversion;

Currency Hedge Transaction means in respect of each Non-Euro Obligation, a currency swap transaction entered into in respect thereof on the terms described in the Collateral Management Agreement under a Currency Hedge Agreement;

Currency Hedge Transaction means a currency swap transaction (whether or not including any initial and/or final exchange of notional principal), a currency option, a spot foreign exchange contract and a forward foreign exchange contract which is either (a) entered into in accordance with the Hedging Procedures or (b) to which the Rating Agencies confirm that the entry into of which will not adversely affect the then ratings of the Senior Notes; each Currency Hedge Transaction shall be evidenced by a confirmation under and subject to a Hedge Agreement (except, in the case of a spot foreign exchange contract which may be entered into on standard market terms with any entity whose short term senior unsecured debt securities are rated no lower than "A-1" by Standard & Poor’s or "P- 1" by Moody’s). For the avoidance of doubt, Currency Hedge Transactions include Initial Currency Hedge Transactions.

Currency Hedge Transaction means, in respect of each Non-Euro Obligation, the currency swap transaction entered into in respect thereof pursuant to the Collateral Management Agreement.