Common use of Limitation on Designated Interest Rate Agreements and Designated Cash Management Obligations Clause in Contracts

Limitation on Designated Interest Rate Agreements and Designated Cash Management Obligations. The Borrower will not designate any Designated Interest Rate Agreement or Designated Cash Management Obligations as Secured Obligations for purposes of the Security Agreement if, immediately after giving effect to such designation, the aggregate notional principal amount of all such agreements then in effect which are Secured Obligations would exceed the lesser of the aggregate amount of the Commitments at such time in effect hereunder and the Borrowing Base in effect at such time.

Limitation on Designated Interest Rate Agreements and Designated Cash Management Obligations. The Borrower will not designate any Designated Interest Rate Agreement or Designated Cash Management Obligations as Secured Obligations for purposes of the Security Agreement if, immediately after giving effect to such designation, the aggregate notional principal amount of all such agreements then in effect which are Secured Obligations would exceed the lesser of the aggregate amount of the Commitments at such time in effect hereunder and the Borrowing Base in effect at such timehereunder.

Limitation on Designated Interest Rate Agreements and Designated Cash Management Obligations. The Borrower will not designate any Designated Interest Rate Agreement or Designated Cash Management Obligations as Secured Obligations for purposes of the Security Agreement if, immediately after giving effect to such designation, the aggregate notional principal amount of all unless such agreements then are entered into in effect which are Secured Obligations would exceed the lesser ordinary course of business and, in the aggregate amount case of any Designated Interest Rate Agreement, for the Commitments at such time in effect hereunder purpose of limiting interest rate risks and the Borrowing Base in effect at such timenot for speculation.