Hedging of interest rate risks Sample Clauses

Hedging of interest rate risks. The Borrower shall from time to time enter into Designated Transactions with the Swap Bank in order to hedge all the interest rate risk under this Agreement.
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Hedging of interest rate risks. Right of first refusal
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Hedging of interest rate risks. So long as outstanding principal balance of Funded Indebtedness (that bears interest at a floating rate) of the Loan Parties exceeds $75,000,000, the Loan Parties will maintain Hedge Agreements in place in order to hedge their interest rate exposure on at least $50,000,000 in principal amount of such Funded Indebtedness.
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Hedging of interest rate risks. The Borrower shall deliver to the Agent by no later than the date of this Agreement the duly signed Hedge Strategy Letter, and shall from time to time, enter into such Designated Transactions with the Swap Bank in order to implement the hedging strategy outlined in the Hedge Strategy Letter whereby for the period on and from the date of this Agreement up to and including the Final Maturity Date, it will hedge all or the major part of the interest risk under this Agreement (but in any event not less than 50 per cent. of the interest rate risk under this Agreement outstanding at any time during the aforesaid period).
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Hedging of interest rate risks. The Borrower shall by no later than 30 days from each Drawdown Date enter into such Designated Transactions with the Swap Bank (or swap transactions with another bank or financial institution) whereby for the period on and from the relevant Drawdown Date up to and including the Final Maturity Date, it will hedge all or the major part of the interest risk under this Agreement in respect of that Advance (but in any event not less than 50 per cent. of the interest rate risk at any time during the aforesaid period). The Borrower shall grant the Swap Bank a right or first refusal to quote for all such interest rate swaps (by means of Designated Transactions). If the Borrower xxxxxx its interest risk with a bank or financial institution other than the Swap Bank it shall deliver to the Agent within 30 days of the relevant Drawdown Date evidence satisfactory to the Agent of its compliance with the terms of this Clause 11.20.
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Hedging of interest rate risks. The Borrower shall by no later than each Drawdown Date enter into such Designated Transactions with the Swap Bank whereby for the period on and from the relevant Drawdown Date up to and including the Final Maturity Date, it will hedge all or the major part of the interest risk under this Agreement in respect of that Advance (but in any event not less than 50 per cent. of the interest rate risk at any time during the aforesaid period).
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Hedging of interest rate risks. The Borrower shall deliver to the Agent by no later than 30 April 2006 the duly signed Hedge Strategy Letter (in a form and on terms acceptable to the Agent which letter shall be prepared in consultation with, and with the assistance of, the Agent), and shall from time to time, enter into such Designated Transactions with a Swap Bank in order to implement the hedging strategy outlined in the Hedge Strategy Letter whereby for a period of at least 5 years from the Drawdown Date of the relevant Advance it will hedge all or the major part of the interest rate risk under this Agreement and the Junior Loan Agreement (but in any event not less than 60 percent of the interest rate risk under this Agreement and the Junior Loan Agreement outstanding at any time during the aforesaid 5-year period).
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Hedging of interest rate risks. The Borrower shall enter into such Designated Transactions with the Swap Bank so as to hedge all or the major part of the interest risk under this Agreement (but in any event not less than 50 per cent. of the interest rate risk under this Agreement outstanding at any time during the period commencing on the date of this Agreement until not earlier than the date falling on the third anniversary of the Drawdown Date).
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Hedging of interest rate risks. Section 5.16 of the Credit Agreement is hereby amended by deleting such Section in its entirety and replacing it with the following:
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Related to Hedging of interest rate risks

  • Interest Rate Hedging In order to take advantage of the current favorable interest-rate climate, the Commission agrees that the actual reasonable cost of PG&E’s interest rate hedging activities with respect to the financing necessary for the Settlement Plan shall be reflected and recoverable in PG&E’s retail gas and electric rates without further review.

  • Hedging Agreements The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

  • Hedging Agreement Any termination payment shall be due by the Borrower under any Hedging Agreement and such amount is not paid within ten (10) Business Days of the due date thereof.

  • Swap Agreement The Depositor hereby directs the Securities Administrator to execute and deliver on behalf of the Trust the Swap Agreement and authorizes the Securities Administrator to perform its obligations thereunder on behalf of the Supplemental Interest Trust in accordance with the terms of the Swap Agreement. The Depositor hereby authorizes and directs the Securities Administrator to ratify on behalf of the Supplemental Interest Trust, as the Supplemental Interest Trust’s own actions, the terms agreed to by the Depositor in relation to the Swap Agreement, as reflected in the Swap Agreement, and the Securities Administrator hereby so ratifies the Swap Agreement. If based upon a notice from the valuation agent pursuant to section 4(c) of the credit support annex, the Securities Administrator determines that a delivery amount exists, then the Securities Administrator shall demand such amount pursuant to section 3(a) of the credit support annex. The Securities Administrator shall amend the Swap Agreement in accordance with its terms and as requested in writing by a party to the Swap Agreement to cure any ambiguity in or correct or supplement any provision of, the Swap Agreement; provided, however, that any such amendment will not have a material adverse effect to a Certificateholder as evidenced by a written confirmation from each Rating Agency that such amendment would not result in the reduction or withdrawal of the then current ratings of any outstanding Class of Certificates. The Swap Agreement shall not part of any REMIC. The Swap Provider is the calculation agent under the Swap Agreement and shall calculate all amounts pursuant to the Swap Agreement and notify the Securities Administrator of all such amounts. The Depositor hereby directs the Securities Administrator to execute, deliver and perform its obligations under the Swap Agreement on the Closing Date and thereafter on behalf of the Holders of the Offered Certificates and the Class M-10 and Class M-11 Certificates. The Seller, the Depositor, the Servicer and the Holders of the Offered Certificates and the Class M-10 and Class M-11 Certificates by their acceptance of such Certificates acknowledge and agree that the Securities Administrator shall execute, deliver and perform its obligations under the Swap Agreement and shall do so solely in its capacity as Securities Administrator of the Supplemental Interest Trust and not in its individual capacity. The Depositor hereby instructs the Securities Administrator to make any and all demands for Eligible Collateral (as defined in the ISDA Master Agreement) under the Swap Agreement from the Swap Provider in satisfaction of the Delivery Amount (as defined in the ISDA Master Agreement) requirement. The Depositor hereby instructs the Securities Administrator to deliver notice to the Swap Provider upon any failure of the Swap Provider to transfer the Delivery Amount (as defined in the ISDA Master Agreement) pursuant to an Approved Credit Support Document (as defined in the Swap Agreement).

  • Interest Rate Protection No later than the 90th day after the Closing Date, the Borrower shall enter into, and for a minimum of three years thereafter maintain, Hedging Agreements acceptable to the Administrative Agent that result in at least 50% of the aggregate principal amount of its funded long-term Indebtedness being effectively subject to a fixed or maximum interest rate acceptable to the Administrative Agent.

  • Notice of Interest Period and Interest Rate Promptly after receipt of a Notice of Borrowing pursuant to Section 2.02(a), a notice of Conversion pursuant to Section 2.09 or a notice of selection of an Interest Period pursuant to the definition of “Interest Period”, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

  • Hedging Obligations The Borrower shall not and shall not permit any of its Subsidiaries to enter into any interest rate, commodity or foreign currency exchange, swap, collar, cap or similar agreements evidencing Hedging Obligations, other than interest rate, foreign currency or commodity exchange, swap, collar, cap or similar agreements entered into by the Borrower or a Subsidiary pursuant to which the Borrower or such Subsidiary has hedged its actual interest rate, foreign currency or commodity exposure.

  • Additional Interest on Eurodollar Rate Advances The Borrower shall pay to each Lender, so long as such Lender shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender, from the date of such Advance until such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period for such Advance from (ii) the rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of such Lender for such Interest Period, payable on each date on which interest is payable on such Advance. Such additional interest shall be determined by such Lender and notified to the Borrower through the Administrative Agent, and such determination shall be conclusive and binding for all purposes, absent manifest error.

  • Interest Rate Agreements 13 Investment..................................................................13

  • Notification of interest periods and default rates The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s notification.

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