Interest hedging. a) The Borrower shall not enter into any interest hedging arrangements or Swap Agreements with other parties than the Swap Banks, subject to such interest hedging arrangements being offered on competitive terms. b) If any of the Swap Banks cannot offer promptly when requested during business hours interest hedging arrangements and Swap Agreements on competitive terms, the Borrower may conclude interest hedging arrangements and Swap Agreements with other parties than the Swap Banks (or their respective Affiliates). Any such interest hedging agreements shall not be subject of any Security under any of the Security Documents.
Appears in 3 contracts
Samples: Facility Agreement (NORDIC AMERICAN TANKERS LTD), Facility Agreement (Nordic American Offshore Ltd.), Facility Agreement (Nordic American Offshore Ltd.)
Interest hedging. a) The Borrower shall not enter into any interest hedging arrangements or Swap Agreements with other parties than the Swap BanksBank, subject to such interest hedging arrangements being offered on competitive terms.
b) If any of the Swap Banks Bank cannot offer promptly when requested during business hours interest hedging arrangements and Swap Agreements on competitive terms, the Borrower may conclude interest hedging arrangements and Swap Agreements with other parties than the Swap Banks Bank (or their respective its Affiliates). Any such interest hedging agreements shall not be subject of any Security under any of the Security Documents.
Appears in 2 contracts
Samples: Term Loan Facility Agreement (DHT Holdings, Inc.), Term Loan Facility Agreement (DHT Holdings, Inc.)
