Hedging Strategy. Borrower shall be in compliance with the Hedging Strategy with respect to each Advance. Borrower shall have directed the Hedge Counterparty to deposit into the Collection Account all Swap Payments payable to the Borrower in respect of any Interest Rate Hedging Agreement and any Interest Rate Hedging Transaction thereunder.
Hedging Strategy. 4.01 The Borrower acknowledges the significance of addressing the interest rate risk inherent in this Agreement in cooperation with the Lender. Along these lines:
Hedging Strategy. Borrower shall implement and maintain a Hedging Strategy that is reasonably acceptable to Lender.
Hedging Strategy. From the date of this Agreement until the Final Maturity Date, the Borrower shall maintain and implement the Hedging Policy.
Hedging Strategy. Borrower shall have implemented and maintained a Hedging Strategy that is reasonably acceptable to Lender. For the avoidance of doubt, the obligation of Borrower to implement and maintain a reasonably acceptable Hedging Strategy under this Section 4.02(k) shall not derogate from the right of Lender to make a determination resulting in an Advance Rate Reduction.
Hedging Strategy. The Borrower has implemented an interest rate hedging strategy for the purpose of providing protection against fluctuations in interest rates and will maintain such hedging strategy during the term of this Agreement.
Hedging Strategy. The Borrower shall implement a commercially reasonable Hedging Strategy satisfactory to the Administrative Agent and the Borrower shall at all times thereafter maintain a commercially reasonable Hedging Strategy acceptable to the Administrative Agent if
Hedging Strategy. (a) At all times on and after the Closing Date, the Borrower shall have established and shall maintain one or more Hedge Agreements with an aggregate notional schedule provided by the Administrator on behalf of the Borrower and acceptable to the Lender and consistent with a strategy designed to offset the risk of interest rate movements, which strategy (the "Hedge Strategy") shall include, without limitation, the execution of Hedge Agreements which (i) are calculated to avoid or remedy any Excess Spread Deficiency or Swap Spread Deficiency, (ii) provide that the notional amounts thereunder shall amortize according to the expected amortization of the Aggregate Loan Balance as of the date of execution of each such Hedge Agreement (assuming a prepayment speed of 1.2% ABS) and (iii) in the aggregate, shall cover 100% of the then Aggregate Loan Balance (as adjusted from time to time pursuant to the terms hereof). The Borrower shall deliver to the Secured Party a copy of each Hedge Agreement entered into between the Borrower and any other Person and each confirmation related thereto. As additional security hereunder, the Borrower shall, pursuant to the Auto Fund Security Agreement, assign to the Lender all rights (but none of the obligations) of the Borrower under each Hedge Agreement, including, but not limited to, all present and future amounts payable by a Hedge Counterparty to the Borrower under or in connection with such Hedge Agreement, and all such amounts payable by a Hedge Counterparty shall be paid by it directly to the Collection Account. The Borrower acknowledges that, as a result of such assignment, it may not, without the prior written consent of the Lender, exercise any rights under any Hedge Agreement that would adversely affect the rights of the Lender, as the beneficiary of the Borrower's assignment of its rights under such Hedge Agreement to the Lender; provided that nothing herein or in the Auto Fund Security Agreement shall have the effect of releasing the Borrower from any of its obligations under a Hedge Agreement nor be construed as requiring the consent of the Lender for the performance of the Borrower's obligations thereunder.
Hedging Strategy. The Issuer shall implement and maintain a hedging strategy that is reasonably acceptable to the Controlling Note Purchaser; provided, that, for purposes of this subparagraph (h), a hedging strategy consisting of the Seller sponsoring one or more securitizations of pools of Receivables at least every 120 days during the term of the Class A Notes shall be deemed acceptable to the Controlling Note Purchaser.
Hedging Strategy. The Borrower will enter into hedging arrangements from time to time as it deems appropriate. If the Borrower enters into any Swap Agreement with a Swap Bank it shall at the same time enter into the Subordination Deed and the Junior Security Documents in the form appended to this Agreement.
