Limitations on Currency and Commodity Hedging Transactions. Enter into, purchase or otherwise acquire agreements or arrangements relating to currency, commodity or other hedging except, to the extent and only to the extent that, such agreements or arrangements are entered into, purchased or otherwise acquired in the ordinary course of business of the Borrower or any of its Subsidiaries with reputable financial institutions or vendors and not for purposes of speculation (any such agreement or arrangement permitted by this subsection, a “Permitted Hedging Arrangement”).
Limitations on Currency and Commodity Hedging Transactions. Enter into, purchase or otherwise acquire agreements or arrangements relating to currency, commodity or other hedging except, to the extent and only to the extent that, such agreements or arrangements are entered into, purchased or otherwise acquired in the ordinary course of business of any Borrower or any Subsidiary with reputable financial institutions and not for purposes of investment or speculation (any such agreement or arrangement permitted by this subsection, a "PERMITTED HEDGING ARRANGEMENT").
Limitations on Currency and Commodity Hedging Transactions. Avis will not, and will not permit any Subsidiary to, enter into, purchase or otherwise acquire agreements or arrangements relating to currency, commodity or other hedging except, to the extent and only to the extent that, such agreements or arrangements are entered into, purchased or otherwise acquired in the ordinary course of business with reputable financial institutions and not for purposes of speculation (any such agreement or arrangement permitted by this Section, a "Permitted Hedging Arrangement").
Limitations on Currency and Commodity Hedging Transactions. Enter into, purchase or otherwise acquire agreements or arrangements relating to currency, commodity or other hedging in excess of $100,000,000 at any one time outstanding, except, to the extent and only to the extent that, such agreements or arrangements are entered into in excess of such amount, such arrangements or agreements are entered into, purchased or otherwise acquired in the ordinary course of business of the Company or any of its Subsidiaries with reputable financial institutions or vendors (determined as of the time such agreement or arrangement is entered into) and not for purposes of speculation (any such agreement or arrangement permitted by this subsection, a “Permitted Hedging Arrangement”).
Limitations on Currency and Commodity Hedging Transactions. The Borrower will not, and will not permit any Subsidiary to, enter into, purchase or otherwise acquire agreements or arrangements relating to currency, commodity or other hedging except, to the extent and only to the extent that, such agreements or arrangements are entered into, purchased or otherwise acquired in the ordinary course of business (including in connection with the incurrence of Permitted Vehicle Indebtedness) with reputable financial institutions and not for purposes of speculation (any such agreement or arrangement permitted by this Section, a "Permitted Hedging Arrangement").
Limitations on Currency and Commodity Hedging Transactions. Enter into, purchase or otherwise acquire agreements or arrangements relating to currency, commodity or other hedging except, to the extent and only to the extent that, such agreements or arrangements are entered into, purchased or otherwise acquired in the ordinary course of business of the Borrower or any of its Subsidiaries with reputable financial institutions and not for purposes of investment or speculation (any such agreement or arrangement permitted by this subsection, a 100 94 "Permitted Hedging Arrangement"), including the two Dollar/Deutschemark currency swaps entered into by the Borrower in connection with the June 1997 Senior Subordinated Notes.
