Common use of Hedge Transactions Clause in Contracts

Hedge Transactions. (a) BMO (for greater certainty, in its capacity as a Lender hereunder and not in its capacity as the Agent) shall act as lead arranger for all Hedge Transactions to be entered into between the Borrower and the Lenders hereunder, and shall offer each Lender an opportunity to participate in a pro-rata portion of such Hedge Transactions pursuant to such arrangements as may be agreed between BMO and the respective Lenders. Each Hedge Transaction entered into between the Borrower and a Lender shall be upon such terms as may be offered by such Lender in its discretion, subject to the terms of this Agreement. (b) Hedge Transactions may not be entered into for speculative purposes. Without limiting the generality of the foregoing, Hedge Transactions will not be entered into which could result in the aggregate notional amount of all Hedge Transactions outstanding at any time being in excess of the Outstanding Principal Amount under Facility A at such time. The Borrower shall promptly take all actions which may be necessary or desirable from time to time to unwind one or more Interest Rate Hedging Agreements in whole or in part to the extent necessary in order that the aggregate notional amount of all Hedge Transactions outstanding at such time does not exceed the Outstanding Principal Amount under Facility A at such time. (c) Currency Hedge Transactions may only be entered into in respect of Qualified Currencies. The term of each Currency Hedge Transaction shall expire not later than the earlier of (a) twelve (12) months from the date of such Currency Hedge Transaction, and (b) the Maturity Date. (d) The term of each Interest Rate Hedge Transaction shall expire not later than the Maturity Date. (e) In respect of each Hedge Transaction entered into between the Borrower and a Lender, the Borrower agrees to execute and deliver to such Lender all agreements as it may reasonably require (for greater certainty, specifically including an ISDA master agreement). (f) The Security shall secure all obligations owing under or in respect of each Hedge Transaction; and the priority of such obligations shall rank on a pari passu basis with all other Obligations. (g) The Borrower will not enter into or be a party to any Hedge Transactions with any Persons other than the Lenders. (h) Each Hedge Transaction between the Borrower and a Lender shall include such Lender's standard early termination events. Without limiting the generality of the foregoing, each Hedge Transaction shall also stipulate that the termination of Facility A shall constitute an Early Termination Event (as defined in the applicable ISDA Master Agreement) and the Affected Party (as defined in such ISDA Agreement) shall be the counter-party to the Lender in such contract. The Lender shall have the right to choose the payment measure and the payment method (as such terms are understood in the ISDA Master Agreement) in respect of such Early Termination Event.

Hedge Transactions. (a) BMO (for greater certainty, in its capacity as a Lender hereunder and not in its capacity as the Agent) shall act as lead swap arranger for all Interest Rate Hedge Transactions to be entered into between the Borrower and the Lenders hereunder, hereunder and shall offer each Lender an opportunity to participate in a pro-rata portion of such Interest Rate Hedge Transactions pursuant to such arrangements as may be agreed between BMO and the respective other Lenders. Each Hedge Transaction entered into between the Borrower and a Lender shall be upon such terms as may be offered by such Lender in its discretion, subject to the terms of this Agreementrespectively. (b) Each Borrower may deal directly with the respective Lenders in connection with the establishment of Currency Hedging Agreements. (c) Hedge Transactions may not be entered into for speculative purposes. Without limiting the generality of the foregoing, Hedge Transactions will not be entered into which could result in the aggregate notional amount of all Hedge Transactions outstanding at any time being in excess of the Outstanding Principal Amount under Facility A at such time. The Borrower shall promptly take all actions which may be necessary or desirable from time to time to unwind one or more Interest Rate Hedging Agreements in whole or in part to the extent necessary in order that the aggregate notional amount of all Hedge Transactions outstanding at such time does not exceed the Outstanding Principal Amount under Facility A at such time. (cd) Currency Hedge Transactions may only be entered into in respect of Qualified Currencies. The term of each Currency Hedge Transaction shall expire not later than the earlier of (a) twelve (12) months from the date of such Currency Hedge Transaction, and (b) the Maturity Date. (de) The term of each Interest Rate Hedge Transaction shall expire not later than the Maturity Date. (ef) The aggregate of the notional amounts of all Interest Rate Hedge Transactions outstanding at any time shall not exceed the Outstanding Principal Amount under the Non-Revolving Facilities at such time. (g) In respect of each Hedge Transaction entered into between the Borrower and a Lender, the Borrower agrees to execute and deliver to such Lender all agreements as it may reasonably require (for greater certainty, specifically including an ISDA master agreement). (fh) The Security shall secure all obligations owing under or in respect of each Hedge Transaction; and the priority of such obligations shall rank on a pari passu basis with all other ObligationsObligations as provided in section 8.01. (gi) The Borrower will not enter into or be a party to any Hedge Transactions with any Persons other than the Lenders. (hj) Each Hedge Transaction between the Borrower and made with a Lender shall include such Lender's standard early termination events. Without limiting the generality of the foregoing, each Hedge Transaction shall also stipulate that the termination of Facility A all or any of the Facilities shall constitute an Early Termination Event (as defined in the applicable ISDA Master Agreement) and the Affected Party (as defined in such ISDA Agreement) shall be the counter-party to the Lender in such contract. The Lender shall have the right to choose the payment measure and the payment method (as such terms are understood in the ISDA Master Agreement) in respect of such Early Termination Event.

Hedge Transactions. (a) BMO (for greater certainty, in its capacity as a Lender hereunder and not in its capacity as the Agent) shall act as lead arranger for all Hedge Transactions to be entered into between the Borrower and the Lenders hereunder, and shall offer each Lender an opportunity to participate in a pro-rata portion of such Hedge Transactions pursuant to such arrangements as may be agreed between BMO and the respective Lenders. Each Hedge Transaction entered into between the Borrower and a Lender shall be upon such terms as may be offered by such Lender in its discretion, subject to the terms of this Agreement. (b) Hedge Transactions may not be entered into for speculative purposes. Without limiting the generality of the foregoing, Hedge Transactions will not be entered into which could result in the aggregate notional amount of all Hedge Transactions outstanding at any time being in excess of the Outstanding Principal Amount under Facility A B at such time. The Borrower shall promptly take all actions which may be necessary or desirable from time to time to unwind one or more Interest Rate Hedging Agreements in whole or in part to the extent necessary in order that the aggregate notional amount of all Hedge Transactions outstanding at such time does not exceed the Outstanding Principal Amount under Facility A the Facilities at such time. (c) Currency Hedge Transactions may only be entered into in respect of Qualified Currencies. The term of each Currency Hedge Transaction shall expire not later than the earlier of (a) twelve (12) months from the date of such Currency Hedge Transaction, and (b) the Maturity Date. (d) The term of each Interest Rate Hedge Transaction shall expire not later than the Maturity Date. (e) In respect of each Hedge Transaction entered into between the Borrower and a Lender, the Borrower agrees to execute and deliver to such Lender all agreements as it may reasonably require (for greater certainty, specifically including an ISDA master agreement). (f) The Security shall secure all obligations owing under or in respect of each Hedge Transaction; and the priority of such obligations shall rank on a pari passu basis with all other Obligations. (g) The Borrower will not enter into or be a party to any Hedge Transactions with any Persons other than the Lenders. (h) Each Hedge Transaction between the Borrower and a Lender shall include such Lender's standard early termination events. Without limiting the generality of the foregoing, each Hedge Transaction shall also stipulate that the termination of Facility A all or any of the Facilities shall constitute an Early Termination Event (as defined in the applicable ISDA Master Agreement) and the Affected Party (as defined in such ISDA Agreement) shall be the counter-party to the Lender in such contract. The Lender shall have the right to choose the payment measure and the payment method (as such terms are understood in the ISDA Master Agreement) in respect of such Early Termination Event.

Hedge Transactions. (a) BMO (for greater certainty, in its capacity as a Lender hereunder and not in its capacity as the Agent) shall act as lead arranger for all Interest Rate Hedge Transactions to be entered into between the Borrower and the Lenders hereunder, and shall offer each Lender an opportunity to participate in a pro-rata portion of such Interest Rate Hedge Transactions pursuant to such arrangements as may be agreed between BMO and the respective Lenders. . (b) Each Hedge Transaction entered into between the Borrower and a Lender shall be upon such terms as may be offered by such Lender in its discretion, subject to the terms of this Agreement. (bc) Hedge Transactions may not be entered into for speculative purposes. Without limiting the generality of the foregoing, Hedge Transactions will not be entered into which could result in the aggregate notional amount of all Hedge Transactions outstanding at any time being in excess of the aggregate Outstanding Principal Amount under Facility A the Non-Revolving Facilities at such time. The Borrower shall promptly take all actions which may be necessary or desirable from time to time to unwind one or more Interest Rate Hedging Agreements in whole or in part to the extent necessary in order that the aggregate notional amount of all Hedge Transactions outstanding at such time does not exceed the aggregate Outstanding Principal Amount under Facility A the Non-Revolving Facilities at such time. (cd) Currency Hedge Transactions may only be entered into in respect of Qualified Currencies. The term of each Currency Hedge Transaction shall expire not later than the earlier of (a) twelve (12) months from the date of such Currency Hedge Transaction, and (b) the Maturity Date. (de) The term of each Interest Rate Hedge Transaction shall expire not later than the Maturity Date. (ef) In respect of each Hedge Transaction entered into between the Borrower and a Lender, the Borrower agrees to execute and deliver to such Lender all agreements as it may reasonably require (for greater certainty, specifically including an ISDA master agreement). (fg) The Security shall secure all obligations owing under or in respect of each Hedge Transaction; and the priority of such obligations shall rank on a pari passu basis with all other Obligations. (gh) The Borrower will not enter into or be a party to any Hedge Transactions with any Persons other than the Lenders. (hi) Each Hedge Transaction between the Borrower and a Lender shall include such Lender's ’s standard early termination events. Without limiting the generality of the foregoing, each Hedge Transaction shall also stipulate that the termination of any Non-Revolving Facility A shall constitute an Early Termination Event (as defined in the applicable ISDA Master Agreement) and the Affected Party (as defined in such ISDA Agreement) shall be the counter-party to the Lender in such contract. The Lender shall have the right to choose the payment measure and the payment method (as such terms are understood in the ISDA Master Agreement) in respect of such Early Termination Event.

Hedge Transactions. (a) BMO (for greater certainty, in its capacity as a Lender hereunder and not in its capacity as the Agent) shall act as lead arranger for all Hedge Transactions to be entered into between the Borrower and the Lenders hereunder, and shall offer each Lender an opportunity to participate in a pro-rata portion of such Hedge Transactions pursuant to such arrangements as may be agreed between BMO and the respective Lenders. Each Hedge Transaction entered into between the Borrower and a Lender shall be upon such terms as may be offered by such Lender in its discretion, subject to the terms of this Agreement. (b) Hedge Transactions may not be entered into for speculative purposes. Without limiting the generality of the foregoing, Hedge Transactions will not be entered into which could result in the aggregate notional amount of all Hedge Transactions outstanding at any time being in excess of the aggregate Outstanding Principal Amount under Facility A the Non-Revolving Facilities at such time. The Borrower shall promptly take all actions which may be necessary or desirable from time to time to unwind one or more Interest Rate Hedging Agreements in whole or in part to the extent necessary in order that the aggregate notional amount of all Hedge Transactions outstanding at such time does not exceed the aggregate Outstanding Principal Amount under Facility A the Non-Revolving Facilities at such time. (c) Currency Hedge Transactions may only be entered into in respect of Qualified Currencies. The term of each Currency Hedge Transaction shall expire not later than the earlier of (a) twelve (12) months from the date of such Currency Hedge Transaction, and (b) the Maturity Date. (d) The term of each Interest Rate Hedge Transaction shall expire not later than the Maturity Date. (e) In respect of each Hedge Transaction entered into between the Borrower and a Lender, the Borrower agrees to execute and deliver to such Lender all agreements as it may reasonably require (for greater certainty, specifically including an ISDA master agreement). (f) The Security shall secure all obligations owing under or in respect of each Hedge Transaction; and the priority of such obligations shall rank on a pari passu basis with all other Obligations. (g) The Borrower will not enter into or be a party to any Hedge Transactions with any Persons other than the Lenders. (h) Each Hedge Transaction between the Borrower and a Lender shall include such Lender's standard early termination events. Without limiting the generality of the foregoing, each Hedge Transaction shall also stipulate that the termination of any Non-Revolving Facility A shall constitute an Early Termination Event (as defined in the applicable ISDA Master Agreement) and the Affected Party (as defined in such ISDA Agreement) shall be the counter-party to the Lender in such contract. The Lender shall have the right to choose the payment measure and the payment method (as such terms are understood in the ISDA Master Agreement) in respect of such Early Termination Event.

Hedge Transactions. (a) BMO (for greater certainty, in its capacity as a Lender hereunder and not in its capacity as the Agent) shall act as lead arranger for all Hedge Transactions to be entered into between the Borrower and the Lenders hereunder, and shall offer each Lender an opportunity hereunder which are willing to participate in a pro-rata portion of such enter into Hedge Transactions pursuant to such arrangements as may be agreed between BMO and the respective LendersTransactions. Each Hedge Transaction entered into between the Borrower and a Lender shall be upon such terms as may be offered by such Lender in its discretion, subject to the terms of this Agreement. (b) Hedge Transactions may not be entered into for speculative purposes. Without limiting the generality of the foregoing, Hedge Transactions will not be entered into which could result in the aggregate notional amount of all Hedge Transactions outstanding at any time being in excess of the Outstanding Principal Amount under Facility A at such time. The Borrower shall promptly take all actions which may be necessary or desirable from time to time to unwind one or more Interest Rate Hedging Agreements in whole or in part to the extent necessary in order that the aggregate notional amount of all Hedge Transactions outstanding at such time does not exceed the Outstanding Principal Amount under Facility A at such time. (c) Currency Hedge Transactions may only be entered into in respect of Qualified Currencies. The term of each Currency Hedge Transaction shall expire not later than the earlier of (a) twelve (12) months from the date of such Currency Hedge Transaction, and (b) the Maturity Date. (d) The term of each Interest Rate Hedge Transaction shall expire not later than the earlier of (a) five (5) years from the date of such Interest Rate Hedge Transaction, and (b) the Maturity Date. (e) In respect of each Hedge Transaction entered into between the Borrower and a Lender, the Borrower agrees to execute and deliver to such Lender all agreements such Loan Documents as it may reasonably require (for greater certainty, specifically including an ISDA master agreement). (f) The Security shall secure all obligations owing under or in respect of each Hedge Transaction; and the priority of such obligations shall rank on a pari passu basis with all other ObligationsObligations as provided in section 8.01. (g) The Borrower will not enter into or be a party to any Hedge Transactions with any Persons other than the LendersLenders (provided that, for greater certainty, it shall be in the discretion of each Lender to enter into any Hedge Transaction). (h) Each Hedge Transaction between the Borrower and made with a Lender shall include such Lender's standard early termination events. Without limiting the generality of the foregoing, each Hedge Transaction shall also stipulate that the termination of Facility A 1 shall constitute an Early Termination Event (as defined in the applicable ISDA Master Agreement) and the Affected Party (as defined in such ISDA Agreement) shall be the counter-party to the Lender in such contract. The Lender shall have the right to choose the payment measure and the payment method (as such terms are understood in the ISDA Master Agreement) in respect of such Early Termination Event. (i) On or before the Maturity Date the Borrower shall (i) unwind all Hedge Transactions (and pay all applicable unwinding costs in respect thereof); or (ii) provide cash collateral in favour of the Agent in respect of all outstanding Hedge Transactions in an amount satisfactory to the applicable Lender. For greater certainty, the Agent shall have no obligation to release all or any portion of the Security unless and until all Hedge Transactions are terminated or such cash collateral is provided in respect thereof.

Hedge Transactions. (a) BMO (for greater certainty, in its capacity as a Lender hereunder and not in its capacity as the Agent) The Agent shall act as lead arranger for all Hedge Transactions to be entered into between the Borrower and the Lenders hereunder, and shall offer each Lender an opportunity to participate in a pro-rata portion of such Hedge Transactions pursuant to such arrangements as may be agreed between BMO the Agent and the respective Lenders. Each Hedge Transaction entered into between the Borrower and a Lender shall be upon such terms as may be offered by such Lender in its discretion, subject to the terms of this Agreement. (b) Hedge Transactions may not be entered into for speculative purposes. Without limiting the generality of the foregoing, Hedge Transactions will not be entered into which could result in the aggregate notional amount of all Hedge Transactions outstanding at any time being in excess of the Outstanding Principal Amount under Facility A at such time. The Borrower shall promptly take all actions which may be necessary or desirable from time to time to unwind one or more Interest Rate Hedging Agreements in whole or in part to the extent necessary in order that the aggregate notional amount of all Hedge Transactions outstanding at such time does not exceed the Outstanding Principal Amount under Facility A at such time. (c) Currency Hedge Transactions may only be entered into in respect of Qualified Currencies. The term of each Currency Hedge Transaction shall expire not later than the earlier of (a) twelve (12) months from the date of such Currency Hedge Transaction, and (b) the Facility B Maturity Date. (d) The aggregate of the Deemed Hedge Risk in respect of all Currency Hedge Transactions shall not at any time exceed Five Hundred Thousand Canadian Dollars (Cdn$500,000). If such limit is exceeded at any time, then upon receipt of a written request by the Agent the Borrower shall immediately unwind all or any of such Currency Hedge Transactions, as designated by the Agent, in order to comply with such limit. (e) The term of each Interest Rate Hedge Transaction shall expire not later than the earlier of (a) thirty (30) months from the date of such Interest Rate Hedge Transaction, and (b) the Facility B Maturity Date. (ef) The aggregate of the notional amounts of all Interest Rate Hedge Transactions outstanding at any time shall not exceed fifty percent (50%) of the Outstanding Advances under Facility B at such time. (g) The aggregate of the Deemed Hedge Risk in respect of all Interest Rate Hedge Transactions shall not at any time exceed Five Hundred Thousand Canadian Dollars (Cdn$500,000). If such limit is exceeded at any time, then upon receipt of a written request by the Agent the Borrower shall immediately unwind all or any of such Interest Rate Hedge Transactions, as designated by the Agent, in order to comply with such limit. (h) In respect of each Hedge Transaction entered into between the Borrower and a Lender, the Borrower agrees to execute and deliver to such Lender all agreements such Loan Documents as it may reasonably require (for greater certainty, specifically including an ISDA master agreement). (fi) The Security shall secure all obligations owing under or in respect of each Hedge Transaction; and the priority of such obligations shall rank on a pari passu basis with all other ObligationsObligations as provided in section 9.01. Each Lender acknowledges that the enforcement of the Security is a matter which requires the approval of the Required Lenders. (gj) The Borrower will not enter into or be a party to any Hedge Transactions with any Persons other than the Lenders, except as follows. The Borrower hereby represents and warrants that (i) attached hereto as Schedule 4.01(j) is a true, correct and complete list of all Hedging Transactions in existence as at the date of this Agreement between the Companies and other Persons, including the notional amounts and maturity dates thereof (collectively, the “Existing Third-Party Hedging Transactions”); and (ii) the Borrower is in compliance with all of its obligations thereunder. The Borrower hereby agrees that it will (i) continue to observe and perform all of its obligations under the Existing Third-Party Hedging Transactions, (ii) make any payments required thereunder upon the maturity thereof, and (iii) not renew or extend any Existing Third-Party Hedging Transactions. (hk) Each Hedge Transaction between the Borrower and made with a Lender shall include such Lender's standard early termination events. Without limiting the generality of the foregoing, each Hedge Transaction shall also stipulate that the termination of Facility A B shall constitute an Early Termination Event (as defined in the applicable ISDA Master Agreement) and the Affected Party (as defined in such ISDA Agreement) shall be the counter-party to the Lender in such contract. The Lender shall have the right to choose the payment measure and the payment method (as such terms are understood in the ISDA Master Agreement) in respect of such Early Termination Event.

Hedge Transactions. (a) BMO (for greater certainty, in its capacity as a Lender hereunder and not in its capacity as the Agent) shall act as lead arranger for all Hedge Transactions to be entered into between the Borrower and the Lenders hereunder, and shall offer each Lender an opportunity to participate in a pro-rata portion of such Hedge Transactions pursuant to such arrangements as may be agreed between BMO and the respective Lenders. Each Hedge Transaction entered into between the Borrower and a Lender shall be upon such terms as may be offered by such Lender in its discretion, subject to the terms of this Agreement. (b) Hedge Transactions may not be entered into for speculative purposes. Without limiting the generality of the foregoing, Hedge Transactions will not be entered into which could result in the aggregate notional amount of all Hedge Transactions outstanding at any time being in excess of the Outstanding Principal Amount under Facility A B at such time. The Borrower shall promptly take all actions which may be necessary or desirable from time to time to unwind one or more Interest Rate Hedging Agreements in whole or in part to the extent necessary in order that the aggregate notional amount of all Hedge Transactions outstanding at such time does not exceed the Outstanding Principal Amount under Facility A the Facilities at such time. (c) Currency Hedge Transactions may only be entered into in respect of Qualified Currencies. The term of each Currency Hedge Transaction shall expire not later than the earlier of (a) twelve (12) months from the date of such Currency Hedge Transaction, and (b) the Maturity Date. (d) The term of each Interest Rate Hedge Transaction shall expire not later than the Maturity Date. (e) In respect of each Hedge Transaction entered into between the Borrower and a Lender, the Borrower agrees to execute and deliver to such Lender all agreements as it may reasonably require (for greater certainty, specifically including an ISDA master agreement). (f) The Security shall secure all obligations owing under or in respect of each Hedge Transaction; and the priority of such obligations shall rank on a pari passu basis with all other Obligations. (g) The Borrower will not enter into or be a party to any Hedge Transactions with any Persons other than the Lenders. (h) Each Hedge Transaction between the Borrower and a Lender shall include such Lender's standard early termination events. Without limiting the generality of the foregoing, each Hedge Transaction shall also stipulate that the termination of Facility A shall constitute an Early Termination Event (as defined in the applicable ISDA Master Agreement) and the Affected Party (as defined in such ISDA Agreement) shall be the counter-party to the Lender in such contract. The Lender shall have the right to choose the payment measure and the payment method (as such terms are understood in the ISDA Master Agreement) in respect of such Early Termination Event.

Hedge Transactions. Borrower will not, nor will Borrower permit any other Credit Party to, enter into any Hedge Transactions (other than Hedge Transactions required by Section 6.1(i) hereof) which would cause (a) BMO (for greater certainty, in its capacity as a Lender hereunder and not in its capacity as the Agent) shall act as lead arranger for all amount of Hydrocarbons which are the subject of Hedge Transactions in existence at such time to be entered into between exceed seventy-five percent (75%) of Borrower's "forecasted production from Proved Mineral Interests" (as defined below) during any applicable calendar year, as measured from the Borrower and the Lenders hereundercurrent date (a "measurement date"), and shall offer each Lender an opportunity to participate in a pro-rata portion of such which Hedge Transactions pursuant to such arrangements as may be agreed between BMO and the respective Lenders. Each Hedge Transaction entered into between the Borrower and shall not have a Lender shall be upon such terms as may be offered by such Lender in its discretiontenor of greater than four (4) years, subject to the terms of this Agreement. or (b) Hedge Transactions may not be entered into for speculative purposes. Without limiting the generality of the foregoing, Hedge Transactions will not be entered into which could result in the aggregate notional amount of all Hedge Transactions outstanding at any time being then in excess effect for the purpose of hedging Borrower's interest rate exposure to exceed one hundred percent (100%) of the Outstanding Principal Amount under Facility A at Consolidated Total Debt of Borrower projected to be outstanding for any period covered by such timeHedge Transaction. The As used in this Section 9.11, "forecasted production from Proved Mineral Interests" means the forecasted production for oil and gas for the applicable calendar year as reflected in the most recent Reserve Report delivered to Administrative Agent pursuant to Section 4.1 hereof, after giving effect to any pro forma adjustments for the consummation of any acquisitions or dispositions between the effective date of such Reserve Report and the measurement date. Once confirmed, no Hedge Transaction may be amended or modified, or cancelled without the prior written consent of Required Banks. Borrower shall promptly take collaterally assign all actions which may be necessary of its right, title and interest in each agreement or desirable from time to time to unwind one or more Interest Rate Hedging Agreements in whole or in part contract evidencing a Hedge Transaction to the extent necessary in order that the aggregate notional amount of all Hedge Transactions outstanding at Collateral Agent and shall, if requested by Administrative Agent or Required Banks, cause each such time does not exceed the Outstanding Principal Amount under Facility A at such time. (c) Currency Hedge Transactions may only be entered into in respect of Qualified Currencies. The term of each Currency Hedge Transaction shall expire not later than the earlier of agreement or contract (a) twelve (12) months from the date of to expressly permit such Currency Hedge Transaction, assignment and (b) upon the Maturity Date. occurrence of any default or event of default under such agreement or contract, (di) The term to permit Banks to cure such default or event of each Interest Rate Hedge Transaction shall expire not later than default and assume the Maturity Date. obligations of Borrower under such agreement or contract and (eii) In respect of each Hedge Transaction entered into between the Borrower and a Lender, the Borrower agrees to execute and deliver to such Lender all agreements as it may reasonably require (for greater certainty, specifically including an ISDA master agreement). (f) The Security shall secure all obligations owing under or in respect of each Hedge Transaction; and the priority of such obligations shall rank on a pari passu basis with all other Obligations. (g) The Borrower will not enter into or be a party to any Hedge Transactions with any Persons other than the Lenders. (h) Each Hedge Transaction between the Borrower and a Lender shall include such Lender's standard early termination events. Without limiting the generality of the foregoing, each Hedge Transaction shall also stipulate that prohibit the termination of Facility A shall constitute an Early Termination Event such agreement or contract by the counterparty thereto if Banks assume the obligations of Borrower under such agreement or contract and Banks take the actions required with the foregoing clause (as defined in the applicable ISDA Master Agreement) and the Affected Party (as defined in such ISDA Agreement) shall be the counter-party to the Lender in such contract. The Lender shall have the right to choose the payment measure and the payment method (as such terms are understood in the ISDA Master Agreement) in respect of such Early Termination Eventi).

Hedge Transactions. (a) BMO (for greater certainty, in its capacity as a Lender hereunder and not in its capacity as the Agent) shall act as lead arranger for all Interest Rate Hedge Transactions to be entered into between the Borrower and the Lenders hereunder, and shall offer each Lender an opportunity to participate in a pro-rata portion of such Interest Rate Hedge Transactions pursuant to such arrangements as may be agreed between BMO and the respective Lenders. . (b) Each Hedge Transaction entered into between the Borrower and a Lender shall be upon such terms as may be offered by such Lender in its discretion, subject to the terms of this Agreement. (bc) Hedge Transactions may not be entered into for speculative purposes. Without limiting the generality of the foregoing, Hedge Transactions will not be entered into which could result in the aggregate notional amount of all Hedge Transactions outstanding at any time being in excess of the aggregate Outstanding Principal Amount under Facility A the Non-Revolving Facilities at such time. The Borrower shall promptly take all actions which may be necessary or desirable from time to time to unwind one or more Interest Rate Hedging Agreements in whole or in part to the extent necessary in order that the aggregate notional amount of all Hedge Transactions outstanding at such time does not exceed the aggregate Outstanding Principal Amount under Facility A the Non-Revolving Facilities at such time. (cd) Currency Hedge Transactions may only be entered into in respect of Qualified Currencies. The term of each Currency Hedge Transaction shall expire not later than the earlier of (a) twelve (12) months from the date of such Currency Hedge Transaction, and (b) the Maturity Date. (de) The term of each Interest Rate Hedge Transaction shall expire not later than the Maturity Date. (ef) In respect of each Hedge Transaction entered into between the Borrower and a Lender, the Borrower agrees to execute and deliver to such Lender all agreements as it may reasonably require (for greater certainty, specifically including an ISDA master agreement). (fg) The Security shall secure all obligations owing under or in respect of each Hedge Transaction; and the priority of such obligations shall rank on a pari passu basis with all other Obligations. (gh) The Borrower will not enter into or be a party to any Hedge Transactions with any Persons other than the Lenders. (hi) Each Hedge Transaction between the Borrower and a Lender shall include such Lender's standard early termination events. Without limiting the generality of the foregoing, each Hedge Transaction shall also stipulate that the termination of any Non-Revolving Facility A shall constitute an Early Termination Event (as defined in the applicable ISDA Master Agreement) and the Affected Party (as defined in such ISDA Agreement) shall be the counter-party to the Lender in such contract. The Lender shall have the right to choose the payment measure and the payment method (as such terms are understood in the ISDA Master Agreement) in respect of such Early Termination Event.