Commodity Swap Contracts Clause Samples

Commodity Swap Contracts. The Borrower will, within 10 Banking Days of the Closing Date, enter into contracts for commodity swaps or other protection agreements or options designed to protect against fluctuations in commodity prices (which, for greater certainty, includes both physically and financially settled ▇▇▇▇▇▇) (collectively, the "Commodity Swap Contracts"):‌ (i) for the 2015 calendar year, in respect of no less than the volumes set out in Exhibit A hereto applicable to the 2015 calendar year; and (ii) for the 2016 calendar year and only to the extent that the forward swap price of the December 2016 Commodity Swap Contracts for U.S. West Texas Intermediate oil is less than or equal to $[REDACTED] per barrel, in respect of no less than the volumes set out in Exhibit A hereto applicable to the 2016 calendar year, and, upon the reasonable request of the Agent, shall furnish evidence of such Commodity Swap Contracts to the Agent and the Lenders.