Hedging Requirements Sample Clauses
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Hedging Requirements. (a) At all times after the Hedge Commencement Date, at the direction of the Facility Agent, the Borrower shall be Fully Hedged.
(b) Within thirty (30) days after (i) the occurrence of any event defined as an “Event of Default” or “Termination Event” in a Hedging Agreement with respect to the Hedge Counterparty or (ii) a Hedge Counterparty (other than any Lender or any of its Affiliates) ceasing to satisfy the minimum rating requirements set forth in the definition of “Eligible Hedge Counterparty,” the Borrower shall cause such Hedge Counterparty to assign its obligations under the Hedging Agreement to a new Hedge Counterparty which satisfies the requirements set forth in the definition of “Eligible Hedge Counterparty.”
(c) As additional security hereunder, the Borrower has granted to the Facility Agent a security interest in all right, title and interest of Borrower in the Hedge Collateral. The Borrower acknowledges that, as a result of that assignment, the Borrower may not, without the prior written consent of the Facility Agent, exercise any rights under any Hedging Agreement or Hedge Transaction, except for (i) the Borrower’s right under any Hedging Agreement to enter into Hedge Transactions in order to meet the Borrower’s obligations hereunder and (ii) so long as Deutsche Bank AG, New York Branch is the Hedge Counterparty related thereto, the Borrower’s right to terminate a Hedge Transaction. Nothing herein shall have the effect of releasing the Borrower from any of its obligations under any Hedging Agreement or any Hedge Transaction, nor be construed as requiring the consent of the Facility Agent or any Secured Party for the performance by the Borrower of any such obligations.
(d) All reasonable and documented costs and expenses (including reasonable legal fees and disbursements) incurred by the Facility Agent and the Lenders incurred with each Hedge Transaction shall be paid by the Borrower.
(e) On or prior to the effective date of any Hedge Transaction with an Eligible Hedge Counterparty which is not Deutsche Bank Securities Inc. or Deutsche Bank AG, London Branch, the Borrower shall establish and thereafter maintain a segregated trust account in the name of the Borrower with respect to each Hedge Counterparty (a “Hedge Counterparty Collateral Account”) with an Eligible Institution in trust and for the benefit of the Lenders and the related Hedge Counterparty. In the event that pursuant to the terms of the applicable Hedging Agreement, the related H...
Hedging Requirements. Other than the Hedge Contracts required to be entered into and maintained pursuant to Section 5.12 hereof or the last sentence of this Section 6.14, the Borrower shall not, nor shall it permit any of its Subsidiaries to, (a) purchase, assume, or hold a speculative position in any commodities market or futures market or enter into any Hydrocarbon Hedge Agreement, Interest Hedge Agreement or similar hedge arrangement for speculative purposes, (b) be party to or otherwise enter into any Hedge Contract which (i) is entered into for reasons other than as a part of its normal business operations as a risk management strategy and/or hedge against changes resulting from market conditions related to the Borrower’s operations, (ii) covers notional volumes in excess of 80% of the anticipated production volumes attributable to “proved, developed and producing” Proven Reserves of the Borrower and its Subsidiaries during the period such hedge arrangement is in effect, or (iii) is longer than five years in duration from the date such Hedge Contract is entered into, or (c) enter into any Hedge Contract prior to January 1, 2011 which covers production of natural gas unless the notional volumes of existing Hedge Contracts cover less than 80% of the anticipated production volumes of natural gas attributable to “proved, developed and producing” Proven Reserves of the Borrower and its Subsidiaries. Furthermore, on or prior to the 10th Business Day following the Effective Date, the Borrower shall have entered into and thereafter maintain (or shall have caused the applicable Subsidiary to have entered into and thereafter maintain) Hedge Contracts covering at least 75% of the anticipated production volumes attributable to “proved, developed and producing” Proven Reserves of the Borrower and its Subsidiaries through December 31, 2014, as set forth in the initial Independent Engineering Report delivered under Section 3.01(a)(ix) and at such prices acceptable to the Administrative Agent.
Hedging Requirements. The Borrower shall maintain "Interest Rate H▇▇▇▇▇" (as defined below) on a notional amount of Indebtedness of the Borrower and its Subsidiaries which, when added to the aggregate principal amount of Indebtedness of the Borrower and its Subsidiaries which bears interest at a fixed rate, equals or exceeds 75% of the aggregate principal amount of all Indebtedness of the Borrower and its Subsidiaries. "Interest Rate H▇▇▇▇▇" shall mean interest rate exchange, collar, cap, swap, adjustable strike cap, adjustable strike corridor or similar agreements having terms, conditions and tenors reasonably acceptable to the Payment and Disbursement Agent entered into by the Borrower and/or its Subsidiaries in order to provide protection to, or minimize the impact upon, the Borrower and/or such Subsidiaries of increasing floating rates of interest applicable to Indebtedness.
Hedging Requirements. The Company shall not permit the aggregate outstanding amount of the Loans to exceed $20,000,000 unless:
(i) the Company shall have entered into one or more Specified Swap Contracts with respect to at least 50% of the outstanding Offshore Rate Loans;
(ii) such Specified Swap Contracts have a minimum weighted average term of 24 months (the "Hedge Period"); and
(iii) if such Specified Swap Contracts are interest rate caps, such Specified Swap Contracts do not have a strike price more than 2% higher than the rate per annum for U.S. Treasury notes with a maturity equal to the applicable Hedge Period.
Hedging Requirements. Within five (5) Domestic Business Days after the last day of each calendar quarter, the Borrower shall have in effect "Interest Rate He▇▇▇▇" on Borrower's Indebtedness so that such Indebtedness, together with all Fixed Rate Indebtedness of Borrower, shall constitute at least fifty percent (50%) of the then aggregate Indebtedness of the Borrower. "INTEREST RATE HE▇▇▇▇" shall mean interest rate exchange, collar, cap, swap, adjustable strike cap, adjustable strike corridor or similar agreements, each of which (i) shall have a minimum term of two (2) years, or, in the case of loans pursuant to which interest shall accrue at a rate other than a fixed rate, a term equal to the term of such floating rate loan (to the extent the term of such floating rate loan is less than two (2) years), (ii) shall have the effect of capping the interest rates covered thereby at a rate equal to or lower than the Cap Rate at the time of purchase or execution, and (iii) shall be with an Approved Bank as the counterparty. It is acknowledged and agreed that the Borrower shall have no obligation to replace any Interest Rate Hedge even if the counterparty thereto shall cease to be an Approved Bank. The Borrower shall submit evidence of its compliance with Interest Rate He▇▇▇▇ ▇o the Administrative Agent together with the certificate required to be delivered by the Borrower pursuant to Section 5.1(c).
Hedging Requirements. Upon prior written notice from the Agent to the Issuer and the Servicer, the Issuer shall enter into a Hedge Agreement with a Qualified Hedge Counterparty and upon execution thereof shall pledge all of the Issuer’s right, title and interest under such Hedge Agreement to the Indenture Trustee for the benefit of the Agent on behalf of the Purchasers pursuant to Section 2.3 hereof and the Indenture. Each Hedge Agreement shall be in form and substance satisfactory to the Agent, including, without limitation, having a notional amount based on the Required Hedge Amount.
Hedging Requirements. The Borrowers and CarrAmerica LP shall maintain "Interest Rate ▇▇▇▇▇▇" (as defined below) on a notional amount of the Debt of the Borrowers and CarrAmerica LP and their Subsidiaries which, when added to the aggregate principal amount of the Debt of the Borrowers, CarrAmerica LP and their Subsidiaries which bears interest at a fixed rate, equals or exceeds 75% of the aggregate principal amount of all Debt of the Borrowers and CarrAmerica LP and their Subsidiaries. "Interest Rate ▇▇▇▇▇▇" shall mean interest rate exchange, collar, cap, swap, adjustable strike cap, adjustable strike corridor or similar agreements having terms, conditions and tenors reasonably acceptable to the Lead Agent entered into by the Borrowers and/or CarrAmerica LP and/or their Subsidiaries in order to provide protection to, or minimize the impact upon, the Borrowers and/or CarrAmerica LP and/or such Subsidiaries of increasing floating rates of interest applicable to Debt.
Hedging Requirements. 4.1 The Client, as a pre-condition of the entry into each Transaction, is required to have sufficient initial margin on the Client Account opened in relation hereto, whose amount shall be determined periodically by the eBrókerház Zrt. at its sole discretion (hereinafter the “Collateral”), with the stipulation that its minimum amount shall always be in line with the percentage of the nominal value of the position laid down by the Central Bank of Hungary in its Decision no. H-▇▇-III-10/2020 with regard to the underlying asset. The Client may also receive information on the amount of the Collateral through the trading platform made available by the Company. The Client, in accordance with the foregoing, is required to monitor such notifications and to comply with the requirements described hereunder; in light of this, the Client shall provide a sufficient amount of Collateral on the Trading Account to cover the provision of Client’s orders. If there is insufficient amount of Collateral on the Trading Account, then the eBrókerház Zrt. is not required accept any Client orders until adequate collateral is posted on the Client’s Trading Account. The Client acknowledges and agrees that if he has several client accounts with the Company, the balance of such accounts cannot be aggregated for the availability of the Collateral required to conclude the Transaction, the Collateral required to the order placed under this Trading Agreement shall be determined only on the basis of the margin kept on the Client Account related to this Trading Agreement.
4.2 The eBrókerház Zrt. reserves the right to change the coverage requirements necessary for the maintenance, closing of orders (open positions) – compared to the coverage need defined in section 4.1. for the placement of the original order – at any time, especially when it is necessary – with regard to sudden and major changes occurring on the given Financial Market – to protect the Client from losses occurring due to unexpected and essential changes on the specific Financial Market. As defined above, the Client will receive information on any changes in collateral requirements through the online trading platform, which the Client is required to monitor and to constantly comply with the requirements contained in them, accordingly, to ensure constantly the availability of the Collateral necessary – by making further payments as needed – for the maintenance of the order on the Account. The Company is entitled but not bound to...
Hedging Requirements. Within five (5) Domestic Business Days after the last day of each calendar quarter, commencing March 31, 1998, the Borrower shall have in effect "Interest Rate ▇▇▇▇▇▇" on Borrower Debt so that Borrower's Floating Rate Indebtedness shall not exceed twenty percent (20%)
Hedging Requirements. Upon the earlier of (a) the dateDetermination Date on which the Excess Spread is less than or equal to 8.07.0% and the Aggregate Outstanding Note Balance is greater than zero and (b)there are Notes outstanding, the Funding Agents, with prior written notice from the Funding Agents to the Issuer and the Servicer, at their sole discretion, may require the Issuer shallto enter into a Hedge Agreement with a Qualified Hedge Counterparty and upon execution thereof shall pledge all of the Issuer’s right, title and interest under such Hedge Agreement to the Indenture Trustee for the benefit of the Funding Agents on behalf of the Purchaser Groups pursuant to the Indenture; provided, that if the Issuer is required to enter into a Hedge Agreement as a result of clause (b) above, then the Issuer shall have 15 calendar days from the date of such written notice is received to enter into a Hedge Agreement. Each Hedge Agreement shall be in form and substance satisfactory to the Funding Agents, including, without limitation, having a notional amount based on the Required Hedge Amount and a cap rate that generates Excess Spread equal to or exceeding 8.0%.