Replacement of Hedge Provider. The Issuer agrees that if any Hedge Provider ceases to be a Qualified Hedge Provider, the Issuer shall have five (5) days (x) to cause such Hedge Provider to assign its obligations under the related Hedge Agreement to a new, Qualified Hedge Provider (or such Hedge Provider shall have five (5) days to again become a Qualified Hedge Provider) or (y) to obtain a substitute Hedge Agreement, together with the related Qualified Hedge Provider’s acknowledgment of the Grant by the Issuer to the Trustee of such Hedge Agreement.
Appears in 4 contracts
Samples: Indenture and Servicing Agreement (Wyndham Worldwide Corp), Master Indenture and Servicing Agreement (Wyndham Worldwide Corp), Master Indenture and Servicing Agreement (Cendant Corp)
Replacement of Hedge Provider. The Issuer agrees that if any Hedge Provider ceases to be a Qualified Hedge Provider, the Issuer shall have five thirty (530) days (x) to cause such Hedge Provider to assign its obligations under the related Hedge Agreement to a new, new Qualified Hedge Provider (or such Hedge Provider shall have five thirty (530) days to again become a Qualified Hedge Provider) or (y) to obtain a substitute Hedge Agreement, Agreement in form and substance reasonably satisfactory to the Deal Agent together with the related Qualified Hedge Provider’s acknowledgment of the Grant by the Issuer to the Trustee of such Hedge Agreement.
Appears in 4 contracts
Samples: Indenture and Servicing Agreement (Travel & Leisure Co.), Indenture and Servicing Agreement (Travel & Leisure Co.), Indenture and Servicing Agreement (Wyndham Destinations, Inc.)
Replacement of Hedge Provider. The Issuer agrees that if any Hedge Provider ceases to be a Qualified Hedge Provider, the Issuer shall have five (5) days (x) to cause such Hedge Provider to assign its obligations under the related Hedge Agreement to a new, Qualified Hedge Provider (or such Hedge Provider shall have five (5) days to again become a Qualified Hedge Provider) or (y) to obtain a substitute Hedge Agreement, together with the related Qualified Hedge Provider’s 's acknowledgment of the Grant by the Issuer to the Trustee of such Hedge Agreement.
Appears in 1 contract
Samples: Master Indenture and Servicing Agreement (Cendant Corp)