Commodity Hedging Transactions Sample Clauses

Commodity Hedging Transactions. (a) Subject to Section 7.15(b) below, if Utilization is less than or equal to 50% (the “Utilization Threshold”), Borrower shall enter into, and thereafter as of the last day of each fiscal quarter of the Borrower (each such date, the “Hedge Testing Date”), maintain, Commodity Hedging Transactions, fixing a price acceptable to Administrative Agent for a term of 12 months from such date, covering at least 50% of the monthly Projected Production of oil and natural gas (calculated separately) from the proved, developed producing Oil and Gas Properties of Borrower and its Subsidiaries based on the most recently delivered Reserve Report, and which are otherwise in compliance with Section 8.17 and on terms acceptable to Administrative Agent in its sole discretion;
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Commodity Hedging Transactions. The Company shall (i) promptly following the date hereof (but no more than thirty (30) days after the date hereof), enter into Commodity Hedging Transactions (A) covering at least 75% of the monthly projected production of oil from the proved, developed producing oil and gas properties of the Company and its subsidiaries based on the Company’s initial reserve report, (B) fixing a price for a term of 24 months, and (C) which are otherwise on terms Approved by the Board and consistent with the terms of any agreement governing the Indebtedness of the Company, and (ii) at all times after the date hereof, maintain Commodity Hedging Transactions (A) covering at least 75% of the monthly projected production of oil from the proved, developed producing oil and gas properties of the Company and its subsidiaries, to be tested Quarterly, based on the most recent reserve report of the Company, (B) fixing a price for a term of 24 months with respect to each such Commodity Hedging Transaction, and (C) which are otherwise on terms Approved by the Board and consistent with the terms of any agreement governing the Indebtedness of the Company.
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Commodity Hedging Transactions. Enter into any Commodity Hedging Agreements; provided, however, Borrower and its Restricted Subsidiaries may enter into Commodity Hedging Agreements if:
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Commodity Hedging Transactions. (a) Borrower shall (i) on or before the date the Fourth Amendment Effective Date (or such later date as Administrative Agent may agree in writing in its sole discretion) enter into Commodity Hedging Transactions (A) for quantities of gaseous and liquid Hydrocarbons equal to at least 50% of the monthly Projected Production of oil and natural gas (calculated separately) from the proved, developed producing Oil and Gas Properties of Borrower and its Subsidiaries based on the most recent Reserve Report, (B) which are subject to pricing terms acceptable to Administrative Agent for a term of 12 months, and (C) which are otherwise in compliance with Section 8.17 and on terms acceptable to Administrative Agent in its sole discretion, and (ii) as of the last day of each fiscal quarter after the date set forth in the foregoing clause (i), maintain Commodity Hedging Transactions (A) for quantities of gaseous and liquid Hydrocarbons equal to at least 50% of the monthly Projected Production of oil and natural gas (calculated separately) from the proved, developed producing Oil and Gas Properties of Borrower and its Subsidiaries based on the most recently delivered Reserve Report, (B) which are subject to pricing terms acceptable to Administrative Agent for a term of 12 months from such date, and (C) which are otherwise in compliance with Section 8.17 and on terms acceptable to Administrative Agent in its sole discretion.
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Commodity Hedging Transactions 
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Related to Commodity Hedging Transactions

  • Hedging Transactions The Borrower will not, and will not permit any of the Subsidiaries to, enter into any Hedging Transaction, other than Hedging Transactions entered into in the ordinary course of business to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities. Solely for the avoidance of doubt, the Borrower acknowledges that a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedging Transaction under which the Borrower or any of the Subsidiaries is or may become obliged to make any payment (i) in connection with the purchase by any third party of any common stock or any Indebtedness or (ii) as a result of changes in the market value of any common stock or any Indebtedness) is not a Hedging Transaction entered into in the ordinary course of business to hedge or mitigate risks.

  • Limitation on Short Sales and Hedging Transactions The Buyer agrees that beginning on the date of this Agreement and ending on the date of termination of this Agreement as provided in Section 11(k), the Buyer and its agents, representatives and affiliates shall not in any manner whatsoever enter into or effect, directly or indirectly, any (i) “short sale” (as such term is defined in Section 242.200 of Regulation SHO of the 0000 Xxx) of the Common Stock or (ii) hedging transaction, which establishes a net short position with respect to the Common Stock.

  • Hedging Contracts No Restricted Person will be a party to or in any manner be liable on any Hedging Contract, except:

  • Prohibition of Short Sales and Hedging Transactions The Investor agrees that beginning on the date of this Agreement and ending on the date of termination of this Agreement as provided in Section 11, the Investor and its agents, representatives and affiliates shall not in any manner whatsoever enter into or effect, directly or indirectly, any (i) “short sale” (as such term is defined in Rule 200 of Regulation SHO of the Exchange Act) of the Common Stock or (ii) hedging transaction, which establishes a net short position with respect to the Common Stock.

  • Hedge Agreement (a) In the event that the Trustee does not receive by the Business Day preceding a Distribution Date the amount as specified by the Master Servicer pursuant to Section 4.04(a)(vi) hereof as the amount to be paid with respect to such Distribution Date by the Hedge Counterparty under the Hedge Agreement, the Trustee shall enforce the obligation of the Hedge Counterparty thereunder. The parties hereto acknowledge that the Hedge Counterparty shall be making all calculations, and determine the amounts to be paid, under the Hedge Agreement. Absent manifest error, the Trustee may conclusively rely on such calculations and determination and any notice received by it from the Master Servicer pursuant to Section 4.04(a)(vi) hereof.

  • Interest Rate Hedging (a) Enter into within ninety (90) days of the Closing Date (or such longer period as may be reasonably acceptable to the Administrative Agent in its sole discretion), and maintain for a period of not less than two (2) years thereafter, interest rate Swap Contracts with Persons reasonably acceptable to the Administrative Agent, covering a notional amount of not less than 50% of the aggregate outstanding amount of the Closing Date Term Facility.

  • Hedge Transactions The Loan Parties will not, and will not permit any of their Subsidiaries to, enter into any Hedge Transaction, other than Hedge Transactions entered into in the ordinary course of business to hedge or mitigate risks to which the Loan Parties are exposed in the conduct of their business or the management of their liabilities. Solely for the avoidance of doubt, the Borrower acknowledges that a Hedge Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to include any Hedge Transaction under which any Loan Party is or may become obliged to make any payment (i) in connection with the purchase by any third party of any common stock or any Debt or (ii) as a result of changes in the market value of any common stock or any Debt) is not a Hedge Transaction entered into in the ordinary course of business to hedge or mitigate risks.

  • Hedging Arrangements To the extent any Affiliate of a Lender is a party to a Secured Hedging Agreement with the Borrower, such Affiliate of a Lender shall be deemed to appoint the Administrative Agent its nominee and agent, and to act for and on behalf of such Affiliate in connection with the Security Documents and to be bound by this Article IX.

  • Hedging (a) The Borrower may, at any time and from time to time, enter into any Interest Hedge Agreements (subject in each case to (i) satisfaction of the Rating Condition and (ii) unless the cost of such Interest Hedge Agreement is paid in full at the time it is executed, the prior written consent of the Majority Lenders). The Borrower will not amend or replace any Interest Hedge Agreement unless the Rating Condition shall have been satisfied in connection with such amendment or replacement and the Majority Lenders have provided their prior written consent thereto. The Borrower (or the Services Provider on behalf of the Borrower) shall promptly provide written notice of entry into, and the amendment or replacement of, any Interest Hedge Agreement to the Agents and the Lenders. Notwithstanding anything to the contrary contained herein, the Borrower (or the Services Provider on behalf of the Borrower) shall not enter into any Interest Hedge Agreement (A) unless it obtains written advice of counsel that (1) the written terms of the derivative directly relate to the Collateral Loans and (2) such derivative reduces the interest rate and/or foreign exchange risks related to the Collateral Loans and the Loans and (B) that would cause the Borrower to be considered a “commodity pool” as defined in Section 1a(10) of the Commodity Exchange Act unless (i) the Services Provider, and no other party, including but not limited to the Collateral Agent, the Custodian and the Administrative Agent, is registered as a “commodity pool operator” as defined in Section 1(a)(11) of the Commodity Exchange Act and “commodity trading advisor” as defined in Section 1(a)(12) of the Commodity Exchange Act with the CFTC or (ii) with respect to the Borrower as the commodity pool, the Services Provider would be eligible for an exemption from registration as a commodity pool operator and commodity trading advisor and all conditions for obtaining the exemption have been satisfied. The Services Provider agrees that for so long as the Borrower is a commodity pool, the Services Provider will take all actions necessary to ensure ongoing compliance with, as the case may be, either (x) the applicable exemption from registration as a commodity pool operator and/or a commodity trading advisor with respect to the Borrower or (y) the applicable registration requirements as a commodity pool operator and/or a commodity trading advisor with respect to the Borrower, and will in each case take any other actions required as a commodity pool operator and/or a commodity trading advisor with respect to the Borrower.

  • Hedging Agreements The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

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