Hedging Banks. (a) A Lender (or an Affiliate of a Lender) which becomes a Hedging Bank shall accede to this Agreement and to the Intercreditor Agreement by delivery to the Security Agent of a duly completed and signed accession deed in the form required under the Intercreditor Agreement and by the Security Agent executing that accession deed.
(b) Where this Agreement or any other Finance Document imposes an obligation on a Hedging Bank and the relevant Hedging Bank is an Affiliate of a Lender and is not a party to that document, the relevant Lender shall ensure that the obligation is performed by its Affiliate.
Hedging Banks. Any decision which will affect the rights or obligation of any Hedging Bank will require its consent also subject as specifically provided otherwise in the Senior Finance Documents. The Hedging Agreements may be amended, varied, waived or modified by agreement between the parties thereto subject as provided in the Intercreditor Agreement.
Hedging Banks. Except as otherwise expressly stated in this Agreement, the Agent shall have no liability under the Finance Documents whatsoever to any Hedging Bank.
Hedging Banks. Each Hedging Bank agrees with the Lenders (but not with the Borrower or any other member of the Group) that it will not terminate any Hedging Agreement to which it is a party (each such Hedging Agreement being a “relevant Hedging Agreement”) except:
(a) as a result of the non-payment by the relevant member of the Group of any Indebtedness under any relevant Hedging Agreement that has fallen due for payment in the currency and manner stipulated in the relevant Hedging Agreement before the expiry of any applicable cure period (or, if no cure period is prescribed in the relevant Hedging Agreement, three Business Days);
(b) as a result of the repudiation of any relevant Hedging Agreement by the relevant member of the Group;
(c) upon the issue by the Facility Agent of a notice under paragraphs (a) or (d) under Clause 22.2 (Acceleration and Cancellation);
(d) upon:
(i) it becoming contrary to any law or regulation for the relevant member of the Group or such Hedging Bank to perform the payment obligations expressed to be assumed by it in respect of any relevant Hedging Agreement or such obligations become invalid or unenforceable against the relevant member of the Group; or
(ii) any provision of any Hedging Agreement to which such Hedging Bank is a party relating to the termination thereof (including the calculation of or obligation to pay amounts upon such termination) becoming invalid or unenforceable against the relevant member of the Group;
(e) upon any exchange control, foreign currency or other consent, authorisation, licence, approval of, or registration with or declaration to, governmental or public bodies or authorities or courts required by the relevant member of the Group to authorise, or required by the relevant member of the Group in connection with, the execution, delivery, validity, enforceability or admissibility in evidence of any Hedging Agreement or the performance of its payment obligations thereunder being modified in a manner unacceptable to such Hedging Bank or not being granted or being revoked or terminated or expiring and not being renewed or otherwise ceasing to be in full force and effect;
(f) upon the making or any order for the winding-up of, or the administration of, or the appointment of a receiver in respect of any part of the assets and/or undertaking of, or the dissolution of, the relevant member of the Group party to the relevant Hedging Agreement (or any analogous provision in any other jurisdiction); or
(g) with the prior wr...
Hedging Banks. Each Party acknowledges and agrees that each Bank that is party to a Hedging Agreement shall, by virtue of that fact, automatically be a Hedging Bank and accordingly have all of the rights and obligations of a Hedging Bank under and in respect of the Finance Documents.
Hedging Banks. This Clause 23 shall not, for the avoidance of doubt, apply to any Finance Party in its capacity as a Hedging Bank prior to service of notice under Clause 20.3 (Cancellation and Repayment).
Hedging Banks. Subject to sub-clause 19.2.6, the Hedging Agreements may be amended, varied, waived or modified by agreement between the parties thereto.
Hedging Banks. No person providing interest or currency swap or hedging facilities to any Obligor will be entitled to benefit from the undertakings of the Parties to this Agreement unless and until:
(a) such person is a Hedging Bank at the date of this Agreement; or
(b) the Senior Agent has agreed in writing to the identity of such person (such agreement not to be unreasonably withheld where such person is a Senior Creditor (or its Affiliate)) and to the swap or hedging facilities being provided by such person and such person has agreed to become a Hedging Bank by executing and delivering to the Security Agent a duly completed Deed of Accession. Upon delivery of such a Deed of Accession to the Security Agent such person will acquire all its rights and assume all its obligations as a Hedging Bank under this Agreement in relation to such swap or hedging facilities.
Hedging Banks. The Security Agent shall be entitled to assume that each Hedging Bank is a Hedging Bank unless notified by the Agent to the contrary.
Hedging Banks. RIGHTS AND OBLIGATIONS
5.1 Identity of Hedging Banks
(a) that person has executed and delivered to the Security Trustee a Lender Accession Deed acceding to this Agreement as a Hedging Bank in accordance with Clause 16 (Change of Party);
(b) the proposed Hedging Agreements comply with the Hedging Policy; and
(c) the Agent has received a copy of the documents proposed to be Hedging Agreements.
