Currency Hedging Sample Clauses

Currency Hedging. The Issuer and its Subsidiaries engage in currency hedging solely for purposes of hedging and not for speculative purposes.
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Currency Hedging. At all times and until repayment of all Additional Senior Debt, the Obligors will utilize currency hedging techniques to hedge for a term at least equal to the lesser of, (a) five years; and (b) the remaining term of the Credit to the Maturity Date, on a weighted average basis, currency risk on a minimum of 50% of all Additional Senior Debt denominated in a currency other than Canadian Dollars in excess of the Equivalent Amount in Canadian Dollars of U.S. $25,000,000.
Currency Hedging. (a) in the case of the Borrower, in the event that the Currency Swap Agreement is terminated in whole prior to repayment in full of the Initial Term Advances, the Borrower shall use its best efforts to enter into a replacement currency swap agreement with a counterparty having the Minimum Short-Term Ratings on terms substantially equivalent to the Currency Swap Agreement and procure that the replacement swap counterparty becomes a party to the Security Trust Deed, unless the Rating Agencies confirm in writing to the Borrower and the Borrower Security Trustee that then current ratings of the Notes will not be subject to downgrade, withdrawal or suspension or put on negative creditwatch as a consequence of the termination of the Currency Swap Agreement without entry into a replacement currency swap agreement; and
Currency Hedging. In addition to the covenant set forth in Section 5.18 hereof, Guarantor covenants that it and its Subsidiaries will maintain the same type of currency transaction exposure practices as are maintained on the date hereof.
Currency Hedging. (a) For the purposes of calculating the Total Hedging Differential, the parties acknowledge and agree that Parent and PSP have entered into the following hedge transactions:
Currency Hedging. The Borrower will, within the earlier of (a) one year after the Effective Date and (b) forty-five days after the Leverage Ratio exceeds 2.50:1 at any time after the Effective Date, enter into, and maintain at all times thereafter, currency Hedging Agreements with respect to Debt of the Borrower denominated in a currency other than Pesos (excluding the Letseb Note), and limiting the exchange rate exposure of the Borrower between Pesos and such other currency for at least five years (“Qualifying Xxxxxx”), such that after giving effect thereto and at all times thereafter, an amount of Debt of the Borrower and its Material Subsidiaries equal to (a) 100% of the aggregate outstanding principal amount of the Loans plus (b) 50% of the aggregate outstanding principal amount of all other Debt for borrowed money of the Borrower and its Material Subsidiaries (determined on a consolidated basis), is either (a) denominated in Pesos or (b) subject to Qualifying Xxxxxx.
Currency Hedging. (a) The parties acknowledge and agree that (i) Parent and PSP are responsible for converting their proportionate share of each tranche (“Tranche”) of United States dollar denominated debt that constitutes the Financing to be funded at the Telesat Closing (i.e., term loans, bridge notes, senior notes), into Canadian dollars to pay the purchase price in respect of the Purchased Shares at the Telesat Closing, and (ii) Parent’s and PSP’s proportionate share shall equal 65.37% and 34.63%, respectively. The parties further acknowledge and agree that subject to PSP’s compliance with Section 3.6(a) of the Ancillary Agreement, the basis swap transaction (the “Basis Swap”) entered into on December 27, 2006 between Mxxxxx Sxxxxxx Capital Services Inc. and Skynet shall be deemed for purposes of this Section 4.20 to be a transaction entered into by Parent and PSP to hedge their proportionate share of the Term Loan B Tranche of the Financing.
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Currency Hedging. The Borrower shall enter into a Hedging Letter (in form and substance acceptable to the Administrative Agent) with a Hedging Bank (acceptable to the Administrative Agent) in relation to any non-Dollar earnings under a Rig Drilling Contract where total non-Dollar earnings over the term of the relevant Rig Drilling Contract are more than twenty per cent. (20%) of the total value of that Rig Drilling Contract.
Currency Hedging. (a) The parties acknowledge and agree that (i) Parent and PSP are responsible for converting their proportionate share of each tranche (“Tranche”) of United States dollar denominated debt that constitutes the Financing to be funded at the Telesat Closing (i.e., term loans, bridge notes, senior notes), into Canadian dollars to pay the purchase price in respect of the Purchased Shares at the Telesat Closing, and (ii) Parent’s and PSP’s proportionate share shall equal 65.37% and 34.63%, respectively. The parties further acknowledge and agree that subject to PSP’s compliance with Section 3.6(a) of the Ancillary Agreement, the basis swap transaction (the “Basis Swap”) entered into on December 27, 2006 between Xxxxxx Xxxxxxx Capital Services Inc. and Skynet shall be deemed for purposes of this Section 4.20 to be a transaction entered into by Parent and PSP to hedge their proportionate share of the Term Loan B Tranche of the Financing. (b) The parties further acknowledge and agree that Parent and PSP may choose to hedge the foregoing amounts or leave them unhedged, in which case, for purposes of determining the Tranche Differential Rate, the exchange rate of any unhedged Tranche or unhedged portion of any Tranche shall be the actual exchange rate at which Canadian dollars are purchased to fund that portion of the purchase price at the Telesat Closing or as to any portion of such Tranche for which there was no purchase of Canadian dollars, the Closing Date Exchange Rate. Xxxxxx procured by an Affiliate of Parent shall be deemed to be xxxxxx procured by Parent for the purposes of this Agreement. 4.21.

Related to Currency Hedging

  • Interest Rate Hedging In order to take advantage of the current favorable interest-rate climate, the Commission agrees that the actual reasonable cost of PG&E’s interest rate hedging activities with respect to the financing necessary for the Settlement Plan shall be reflected and recoverable in PG&E’s retail gas and electric rates without further review.

  • Currency Fluctuations If on any Computation Date the Revolving Facility Usage is equal to or greater than the Revolving Credit Commitments as a result of a change in exchange rates between one (1) or more Optional Currencies and Dollars, then the Administrative Agent shall notify the Borrower of the same. The Borrower shall pay or prepay (subject to Borrower’s indemnity obligations under Section 2.20 [Increased Costs and Reduced Return] and Section 2.25 [Indemnity]) within five (5) Business Days after receiving such notice such that the Revolving Facility Usage shall not exceed the aggregate Revolving Credit Commitments after giving effect to such payments or prepayments.

  • Foreign Currency Calculations (a) For purposes of determining the Dollar Equivalent of any Advance denominated in a Foreign Currency or any related amount, the Administrative Agent shall determine the Exchange Rate as of the applicable Exchange Rate Date with respect to each Foreign Currency in which any requested or outstanding Advance is denominated and shall apply such Exchange Rates to determine such amount (in each case after giving effect to any Advance to be made or repaid on or prior to the applicable date for such calculation).

  • Currency Rate Indemnity (a) The Guarantor shall (to the extent lawful) indemnify the Trustee and the Noteholders and keep them indemnified against:

  • Foreign Currency The term “

  • 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.

  • Currency Calculations All financial statements and Compliance Certificates shall be set forth in Dollars. For purposes of preparing the financial statements, calculating financial covenants and determining compliance with covenants expressed in Dollars, Optional Currencies shall be converted to Dollars in accordance with GAAP.

  • Foreign Currency Exchange Unless the Depositor shall otherwise direct, whenever funds are received by the Trustee in foreign currency, upon the receipt thereof or, if such funds are to be received in respect of a sale of Securities, concurrently with the contract of the sale for the Security (in the latter case the foreign exchange contract to have a settlement date coincident with the relevant contract of sale for the Security), the Trustee shall enter into a foreign exchange contract for the conversion of such funds to U.S. dollars pursuant to the instruction of the Depositor. The Trustee shall have no liability for any loss or depreciation resulting from action taken pursuant to such instruction."

  • Currency All sums of money which are referred to in this Agreement are expressed in lawful money of Canada, unless otherwise specified.

  • Currency Matters Dollars are the currency of account and payment for each and every sum at any time due from the Borrowers hereunder; provided that:

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