Common use of Limitations on Swap Contracts Clause in Contracts

Limitations on Swap Contracts. Create any obligations (contingent or otherwise) of the Company or any Subsidiary existing or arising under any Swap Contract, provided, that the Company or any Subsidiary may enter into Swap Contracts if (i) such obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets, or property held or reasonably anticipated by such Person, or changes in the value of securities issued by such Person, and not for purposes of speculation or taking a “market view;” and (ii) such Swap Contract does not contain any provision exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party.