Common use of Financial Hedges Clause in Contracts

Financial Hedges. To the extent any Lender or any Affiliate of a Lender issuxx x Xinancial Hedge relating to the Principal Debt and accepts the benefits of the Liens in the Collateral arising pursuant to the Collateral Documents, such Lender (for itself and on behalf of any such Affiliates) agrees (i) to appoint the Administrative Agent, as its nominee and agent, to act for and on behalf of such Lender or Affiliate thereof in connection with the Collateral Documents and (ii) to be bound by the terms of this Section 12; whereupon all references to "Lender" in this Section 12 and in the Collateral Documents shall include, on any date of determination, any Lender or Affiliate of a Lender that is party to a then-effective Financial Hedge relating to the Principal Debt. Additionally, if the Obligation owed to any Lender or Affiliate of a Lender consists solely of Debt arising under a Financial Hedge (such Lender or Affiliate being referred to in this Section 12.12 as an "Hedge Lender"), then such Hedge Lender (by accepting the benefits of any Collateral Documents) acknowledges and agrees that pursuant to the Loan Documents and without notice to or consent of such Hedge Lender: (i) Liens in the Collateral may be released in whole or in part to the extent Liens securing the Principal Debt are released, (ii) all Guaranties may be released; (iii) any Collateral Document may be amended, modified, supplemented, or restated; and (iv) all or any part of the Collateral may be permitted to secure other Debt.

Appears in 1 contract

Samples: Credit Agreement (Adelphia Communications Corp)

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Financial Hedges. To the extent any extenx xxx Lender or any Affiliate of a Lender issuxx x Xinancial issues a Financial Hedge relating to in accordance with the Principal Debt requirements of the Loan Documents and accepts the benefits of the Liens in the Collateral arising pursuant to the Collateral Documents, such Lender (for itself and on behalf of any such Affiliates) agrees (i) to appoint the Administrative AgentLCPI, as its nominee and agent, to act for and on behalf of such Lender or Affiliate thereof in connection with the Collateral Documents and (ii) to be bound by the terms of this Section 12; whereupon all references to "Lender" in this Section 12 and in the Collateral Documents shall include, on any date of determination, any Lender or Affiliate of a Lender that is party to a then-effective Financial Hedge relating to which complies with the Principal Debtrequirements of the Loan Document. Additionally, if the Obligation owed to any Lender or Affiliate of a Lender consists solely of Debt arising under a Financial Hedge (such Lender or Affiliate being referred to in this Section 12.12 as an "Hedge Issuing Lender"), then such Hedge Issuing Lender (by accepting the benefits of any Collateral Documents) acknowledges and agrees that pursuant to the Loan Documents and without notice to or consent of such Hedge Issuing Lender: (i) Liens in the Collateral may be released in whole or in part to the extent Liens securing the Principal Debt are released, part; (ii) all Guaranties may be released; (iii) any Collateral Document may be amended, modified, supplemented, or restated; and (iv) all or any part of the Collateral may be permitted to secure other Debt.

Appears in 1 contract

Samples: Credit Agreement (Dobson Communications Corp)

Financial Hedges. To the extent any Lender or any Affiliate of a Lender issuxx x Xinancial Xxxxxx issues a Financial Hedge relating to in accordance with the Principal Debt requirements of the Loan Documents and accepts the benefits of the Liens in the Collateral arising pursuant to the Collateral Documents, such Lender (for itself and on behalf of any such Affiliatesits Affiliate) agrees (i) to appoint the Administrative AgentBank of America, N.A., as its nominee and agent, to act for and on behalf of such Lender or Affiliate thereof in connection with the Collateral Documents and (ii) to be bound by the terms of this Section 12; whereupon all references to "Lender" in this Section 12 and in the Collateral Documents shall include, on any date of determination, any Lender or Affiliate of a Lender that is party to a then-effective Financial Hedge relating to which complies with the Principal Debtrequirements of the Loan Document. Additionally, if the Obligation owed to any Lender or Affiliate of a Lender consists solely of Debt arising under a Financial Hedge (such Lender or Affiliate being referred to in this Section 12.12 12.11 as an "Hedge Issuing Lender"), then such Hedge Issuing Lender (by accepting the benefits of any Collateral Documents) acknowledges and agrees that pursuant to the Loan Documents and without notice to or consent of such Hedge Issuing Lender: (i) Liens in the Collateral may be released in whole or in part to the extent Liens securing the Principal Debt are released, part; (ii) all Guaranties may be released; (iii) any Collateral Document may be amended, modified, supplemented, or restated; and (iv) all or any part of the Collateral may be permitted to secure other Debt.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Acx Technologies Inc)

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Financial Hedges. To the extent any Lender or any Affiliate of a Lender issuxx issues x Xinancial Xxxancial Hedge relating to the Principal Debt and accepts the benefits of the Liens in the Collateral arising pursuant to the Collateral Documents, such Lender (for itself and on behalf of any such Affiliates) agrees (i) to appoint the Administrative Agent, as its nominee and agent, to act for and on behalf of such Lender or Affiliate thereof in connection with the Collateral Documents and (ii) to be bound by the terms of this Section 12; whereupon all references to "Lender" in this Section 12 and in the Collateral Documents shall include, on any date of determination, any Lender or Affiliate of a Lender that is party to a then-effective Financial Hedge relating to the Principal Debt. Additionally, if the Obligation owed to any Lender or Affiliate of a Lender consists solely of Debt arising under a Financial Hedge (such Lender or Affiliate being referred to in this Section 12.12 as an "Hedge Lender"), then such Hedge Lender (by accepting the benefits of any Collateral Documents) acknowledges and agrees that pursuant to the Loan Documents and without notice to or consent of such Hedge Lender: (i) Liens in the Collateral may be released in whole or in part to the extent Liens securing the Principal Debt are released, (ii) all Guaranties may be released; (iii) any Collateral Document may be amended, modified, supplemented, or restated; and (iv) all or any part of the Collateral may be permitted to secure other Debt.

Appears in 1 contract

Samples: Pledge Agreement (Adelphia Communications Corp)

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