Hedging Instruments. (a) On each Transfer Date, the Trust shall enter into such Hedging Instruments as the Market Value Agent, on behalf of the Majority Noteholders, shall determine are necessary in order to hedge the interest rate risk with respect to the Collateral Value of the Loans being purchased on such Transfer Date. The Market Value Agent shall determine, in its sole discretion, whether any Hedging Instrument conforms to the requirements of Section 7.01(b), (c) and (d).
Hedging Instruments. 70 Section 7.02
Hedging Instruments. (a) The Issuer, promptly upon the request of the Market Value Agent, on behalf of the Majority Noteholders, shall enter into such Hedging Instruments as the Market Value Agent, on behalf of the Majority Noteholders, may deem appropriate to hedge the interest rate risk associated with the Notes attributable to Loans bearing a fixed Loan Interest Rate and relative to the expected Securitization Proceeds therefrom; provided that payments thereunder to the Collection Account pursuant to SECTION 5.01(B)(1)(X) constitute qualifying income under Section 856(c)(5)(G) of the Code. The Market Value Agent shall determine, in its sole discretion, whether any Hedging Instrument conforms to the requirements of SECTION 8.01(B) AND (C).
Hedging Instruments. Borrower shall maintain Hedging Instruments with respect to all Pledged Mortgage Loans the term of which equals or exceeds sixty (60) months and which are not subject to a Take-Out Commitment with Persons reasonably satisfactory to Lender in order to mitigate the risk that the market value of any Pledged Mortgage Loan will change as a result of a change in interest rates or the market for mortgage loan assets before such Mortgage Loan is purchased by an Investor or the related Advance is repaid by Borrower.
Hedging Instruments. Borrower’s obligations and Indebtedness hereunder includes, without limitation all obligations, indebtedness and liabilities arising pursuant to or in connection with any interest rate swap transaction, basis swap, forward rate transaction, interest rate option, price risk hedging transaction or any similar transaction between the Borrower and Bank.
Hedging Instruments. Seller agrees that at or prior to the Closing it shall cause the Company and its Subsidiaries to terminate, cancel or permit to expire all foreign exchange Contracts and all other hxxxxx, swaps, forward Contracts and similar arrangements, to which the Company or any of its Subsidiaries is a party.
Hedging Instruments. The obligations and indebtedness under the Loan shall include, without limitation, all obligations, indebtedness and liabilities of Borrower to Lender arising pursuant to or in connection with any swap, collar, cap, future, forward or derivative transaction, including any involving, or settled by reference to, one or more interest rates, currencies, commodities, equity or debt instruments, any economic, financial or pricing index or basis, or any similar transaction, including any option with respect to any of these transactions and any combination of these transactions.
Hedging Instruments. (a) If the Unfunded Transfer Obligation Percentage is less than 7%, the Trust, upon request of the Majority Noteholders, shall enter into such Hedging Instruments as the Market Value Agent, on behalf of the Majority Noteholders shall determine are necessary, in order to hedge the interest rate risk with respect to at least 80% of the Collateral Value of fixed rate Loans acquired by the Trust on or after the date of such request relative to the expected Disposition Proceeds therefrom. The Market Value Agent shall determine, in its sole discretion, whether any Hedging Instrument conforms to the requirements of Section 7.01(b), (c) and (d).
Hedging Instruments. Subject to the terms and conditions of this Agreement, during the term of this Agreement, the Lender shall, absent the existence of a Default or an Event of Default, and at the sole discretion of the Lender, from time to time provide Hedging Instruments upon a request by the Borrowers, provided that, at no time shall any Hedging Obligations be outstanding such that the aggregate exposure under any outstanding Hedging Instruments, as determined by the Lender in accordance with its internal methodology from time to time, exceed One Million United States Dollars (U.S. $1,000,000) or the Equivalent Amount in Canadian Dollars thereof. Each such Hedging Instrument shall be in form and substance acceptable to the Lender in its discretion. Interest Rate Swaps may not be entered into by the Borrowers unless the applicable Borrower has entered into an ISDA Master Agreement with the Lender and shall not, in any event, have a term greater than twelve (12) months and for greater certainty may only be entered into in the Lender's sole discretion and credit approval. Foreign Exchange Contracts shall not have an expiry date of more than twelve (12) months or more than three (3) years if an ISDA Master Agreement has been entered into by the applicable Borrower. Notwithstanding the term of any Hedging Instrument provided by the Lender hereunder, the Lender shall be entitled to terminate, on the Maturity Date (or such earlier date as provided by this Agreement or any Hedging Instrument), any such Hedging Instruments having a maturity date extending beyond the Maturity Date and all such Hedging Instruments shall provide for such termination rights of the Lender. The maximum notional value of any Foreign Exchange Contracts which can mature on any given day is limited to Two Hundred Thousand United States Dollars (U.S. $200,000) or the Equivalent Amount in Canadian Dollars thereof.
Hedging Instruments. Neither the Borrower nor any Designated Subsidiary will enter into Hedging Instruments for speculative purposes.
