Hedge Arrangements. Enter into or permit to be outstanding at any time (a) any Hedge Arrangement for speculative purposes (provided, for greater clarity, the Borrowers may enter into Hedge Arrangements in respect of interest rate swaps relating to Indebtedness in the normal course of business), or (b) a Qualifying Hedge Arrangement that would result in the aggregate amount of all Qualifying Hedge Arrangements exceeding a notional or face amount equal to the Commitment.
Hedge Arrangements. The Borrower shall not, and shall not permit any other Credit Party to, enter into any Hedge Arrangement, except Hedge Arrangements entered into in order to hedge or mitigate risks to which any Credit Party has actual exposure and not for speculative purposes.
Hedge Arrangements. Enter into any Interest Rate Hedge or Foreign Currency Hedge except in the Ordinary Course of Business and not for speculative purposes.
Hedge Arrangements. No Group Party shall enter into or permit to be outstanding at any time any Hedge Arrangement, other than Hedge Arrangements in the ordinary course of business (and not for speculative purposes) to hedge interest rate, foreign exchange and commodity risks.
Hedge Arrangements. The Borrower shall not, and shall not permit any Material Subsidiary to, enter into any Hedge Arrangement, except:
(a) Hedge Arrangements entered into in order to hedge or mitigate risks to which the Borrower or such Material Subsidiary has actual exposure (other than those in respect of Equity Securities); and
(b) Hedge Arrangements entered into in order to effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or investment of the Borrower or such Material Subsidiary; provided that (i) no Hedge Arrangement may be entered into on a cash-collateralized or margin basis and (ii) the aggregate outstanding notional amount (net of offsetting contracts) of all Hedge Arrangements providing for delivery by the Borrower and its Subsidiaries of any commodity in any Fiscal Quarter or entered into to hedge risks relating to the delivery of any commodity by the Borrower and its Subsidiaries in any Fiscal Quarter shall not exceed 70% of the Borrower’s and its Subsidiaries aggregate projected production of such commodity for such Fiscal Quarter (determined at the time any such Hedge Arrangement is entered into).
Hedge Arrangements. Enter into any Hedge Arrangement other than on commercially reasonable terms and for commercially reasonable purposes in connection with the Business and not for speculative purposes.
Hedge Arrangements. (a) Borrower defaults under any of its obligations (beyond notice and cure periods) under any Hedge Agreement or the Hedge Agreement Pledge, or (b) Borrower fails to comply with any of its obligations in Section 9.27.
Hedge Arrangements. The Borrower shall not, and shall not permit any other Credit Party to, enter into any Hedge Arrangement, except:
(a) Permitted Equity Hedge Arrangements;
(b) Hedge Arrangements entered into in order to hedge or mitigate commodity risks to which any Credit Party has actual output exposure; provided that:
(i) the amount of any commodity hedged in any Fiscal Quarter shall not exceed 70% of the Borrower’s projected production of such commodity during such Fiscal Quarter, determined on a Consolidated basis; and
(ii) the aggregate amount of any commodity hedged at any time shall not exceed 70% of the Borrower’s Proven and Probable Reserves of such metal at such time, determined on a Consolidated basis;
(c) Hedge Arrangements entered into in order to hedge or mitigate commodity risks to which any Credit Party has actual input exposure;
(d) Hedge Arrangements entered into in order to effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or investment of any Credit Party; and
(e) Hedge Arrangements entered into to hedge or mitigate foreign exchange risk to which any Credit Party has actual exposure, 24708069.14 provided that, (i) no Credit Party shall enter into any Hedge Arrangement for speculative purposes, and (ii) any Hedge Arrangement between a Credit Party and a Hedge Counterparty that is not a Lender or a Lender Affiliate shall be unsecured.
Hedge Arrangements. In the case of the Borrower and the General Partner, enter into or suffer to exist any commodity, interest rate, currency rate hedging agreement or other similar understanding or obligation, except interest rate hedging obligations entered into in respect of the Borrower’s obligations under this Agreement.
Hedge Arrangements. Borrower defaults under any of its obligations under Section 9.15 of this Agreement, if such default continues for three (3) Business Days after written notice thereof from the Administrative Agent.
