Identity of Hedge Counterparties. (a) Subject to paragraph (b) below, no entity providing hedging arrangements to any Debtor shall be entitled to share in any of the Transaction Security or in the benefit of any guarantee or indemnity in respect of any of the liabilities and obligations arising in relation to those hedging arrangements nor shall those liabilities and obligations be treated as Hedging Liabilities unless that entity is or becomes a Party as a Hedge Counterparty.
(b) Paragraph (a) above shall not apply to a Hedging Ancillary Lender.
Identity of Hedge Counterparties. No person providing hedging arrangements to any Debtor shall be entitled to share in any of the Transaction Security unless that person is or becomes a Party as a Hedge Counterparty in accordance with this Agreement and is identified or defined as a one of the “Gufim Megadrim” in the Pledge Permit.
Identity of Hedge Counterparties. No person providing hedging arrangements to the Company shall be entitled to receive a second priority pledge over any of the Transaction Security in respect of any of the liabilities arising in relation to those hedging arrangements nor shall those liabilities be treated as Hedging Liabilities unless that person is or becomes a party to this Agreement as a Hedge Counterparty.
Identity of Hedge Counterparties. No person providing hedging facilities to the Borrower shall be entitled to share in any of the Transaction Security or in the benefit of any guarantee or indemnity in respect of any of the liabilities arising in relation to those hedging facilities unless they are a party to this Agreement as a Hedge Counterparty. A Lender, or an Affiliate of a Lender, may become a Hedge Counterparty, and the Liabilities arising in respect of its hedging facilities shall be treated as Hedge Liabilities, with effect from the date on which an otherwise duly completed Accession Undertaking delivered by that Lender or Affiliate has been executed by the Agent and the Security Trustee. No other person may become a Hedge Counterparty without the consent of all the Lenders.
Identity of Hedge Counterparties. (a) Subject to paragraph (b) below, no entity providing hedging arrangements to any Debtor shall be entitled to share in any of the Transaction Security or in the benefit of any guarantee or indemnity in respect of any of the liabilities and obligations arising in relation to those hedging arrangements nor shall those liabilities and obligations be treated as Super Senior Hedging Liabilities or Excess Hedging Liabilities unless that entity is or becomes:
(i) a Party as a Hedge Counterparty; and
(ii) a Party to the Facilities Agreement as a Hedge Counterparty.
(b) Paragraph (a) above shall not apply to a Hedging Ancillary Lender.
Identity of Hedge Counterparties. No person providing hedging arrangements to or party to any hedging transaction with any Debtor or any Group Member shall be entitled to share in any of the Transaction Security or in the benefit of any Transaction Security Document or any guarantee or indemnity under any Debt Document or this Agreement and none of the liabilities or obligations arising in relation to any such hedging arrangements or hedging transaction shall be treated as Hedging Liabilities unless such hedging arrangements or hedging transaction relates to liabilities arising under any Senior Facility or any Senior Facility Loan and that person:
(a) is or becomes a party to this Agreement as a Hedge Counterparty in accordance with Clause 19.10 (Creditor Accession Undertaking); and
(b) is or becomes party to the Senior Facility Agreement as a “Hedge Counterparty” (as defined in the Senior Facility Agreement) in accordance with Clause 19.10 (Creditor Accession Undertaking), and provided that (i) (except as otherwise consented to by the Senior Agent) such hedging arrangements are entered into, or, as the case may be, such hedging transaction is entered into, in accordance with the Hedging Parameters and the Senior Facility Agreement and (ii) the Hedging Accession Conditions are satisfied.
Identity of Hedge Counterparties. (a) Subject to paragraph (b) below, no entity providing hedging arrangements to any Debtor shall be entitled to share in any of the Common Transaction Security or in the benefit of any guarantee or indemnity in respect of any of the liabilities and obligations arising in relation to those hedging arrangements nor shall those liabilities and obligations be treated as Hedging Liabilities unless that entity is or becomes a Party as a Hedge Counterparty.
(b) Paragraph (a) above shall not apply to a Hedging Ancillary Lender.
(c) Any member of the Group may enter into interest rate hedging or foreign exchange hedging under which the relevant counterparty may share in the Common Transaction Security and in the benefit of a guarantee or indemnity under this Agreement. The two types of hedging arrangements are interest rate hedging, or foreign exchange hedging, in each case not otherwise prohibited by the Debt Documents and not for speculative purposes.
Identity of Hedge Counterparties. Each Hedge Counterparty shall be either:
29.1.1 the Original Hedge Counterparty;
29.1.2 a Lender; or
29.1.3 such person as is approved in advance in writing by the Administrative Agent.
Identity of Hedge Counterparties. No person providing hedging arrangements to any Obligor shall be entitled to share in any of the Transaction Security or in the benefit of any guarantee or indemnity in respect of any of the liabilities arising in relation to those hedging arrangements nor shall those liabilities be treated as Hedging Liabilities unless that person is or becomes a party to this Agreement as a Hedging Counterparty.
Identity of Hedge Counterparties. (a) Each Hedge Counterparty shall be a Senior Lender.
(b) Subject to clause 4.1(c) below, no person providing hedging arrangements to any Debtor shall be entitled to share in any of the Transaction Security or in the benefit of any guarantee or indemnity in respect of any of the liabilities arising in relation to those hedging arrangements nor shall those liabilities be treated as Hedging Liabilities unless that person is or becomes a party to this Deed as a Hedge Counterparty.
(c) Clause 4.1(b) above shall not apply to a Hedging Bilateral Lender.
