Required Hedge Agreements. 103 9.08. Insurance and Condemnation Proceeds......................................................................103 9.09.
Required Hedge Agreements. The Borrower shall maintain the Hedge Agreement identified on SCHEDULE 9.07 attached hereto in full force and effect until its expiry on December 2, 1997. Thereafter, in the event three-month LIBOR exceeds a rate equal to 6.72% per annum for a period of thirty (30) consecutive Business Days, the Borrower shall enter into Hedge Agreements within sixty (60) calendar days after the end of such thirty (30) Business Day period containing terms by which the Borrower is protected against three-month LIBOR exceeding a rate equal to nine percent (9%) per annum for a minimum period of the lesser of (a) three (3) years and (b) one year less than the then remaining term of this Agreement as to an aggregate notional amount of not less than the amount equal to fifty percent (50%) of the then outstanding aggregate principal balance of the Loans, which Hedge Agreements shall otherwise be reasonably acceptable to the Agent and purchased from a Lender, an Affiliate of a Lender or such other Person reasonably acceptable as a credit matter to the Agent. The Borrower shall determine to its own satisfaction whether such Hedge Agreements are sufficient to provide protection and to meet the needs of the Borrower and such other obligors and none of the Agent, the Issuing Banks or the Lenders shall have any obligation or accountability with respect thereto or any obligation to propose, quote or enter into any Hedge Agreement.
Required Hedge Agreements. The Borrower shall, no later than the date of the second Borrowing, enter into and maintain at all times thereafter the Hedge Agreements with the Lenders or Affiliates of the Lenders in respect of 124,600 ounces of gold in form and substance satisfactory to the Lenders (acting reasonably) and reflecting the terms set forth on Schedule 6.15 until the Maturity Date.
Required Hedge Agreements. 113 9.08. Insurance and Condemnation Proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113 9.09.
Required Hedge Agreements. In the event three-month LIBOR exceeds a rate equal to (a) eleven percent (11%) per annum minus (b) the then effective Eurodollar Rate Margin minus (c) one-half of one percent (0.50%) for a period of fifteen (15) consecutive Business Days, the Borrowers shall enter into Hedge Agreements within forty-five (45) calendar days after the end of such fifteen (15) Business Day period on terms by which the Borrowers are protected against three-month LIBOR exceeding a rate equal to (i) eleven percent (11%) per annum minus (ii) the then effective Eurodollar Rate Margin for a minimum period of the lesser of (A) three (3) years and (B) one year less than the then remaining term of this Agreement as to an aggregate notional amount of not less than the amount equal to sixty percent (60%) of the sum of (I) the then outstanding aggregate principal balance of the Loans. All such Hedge Agreements shall be purchased from a commercial bank having total assets in excess of $1,000,000,000 or such other Person reasonably acceptable as a credit matter to the Administrative Agent. The Borrowers shall determine to their own satisfaction whether such Hedge Agreements are sufficient to provide protection and to meet their needs and none of the Administrative Agent, any Co-Agent, the Issuing Banks or the Lenders shall have any obligation or accountability with respect thereto or any obligation to propose, quote or enter into any Hedge Agreement.
Required Hedge Agreements. From and after the Closing Date, the Borrower shall maintain in effect or enter into Hedge Agreements on terms reasonably satisfactory to the Administrative Agents and maintain the same in effect, for interest rate protection with respect to the Obligations which shall be purchased from a Lender or an Affiliate of a Lender or, subject to the prior approval of the Requisite Lenders (which approval shall not be unreasonably delayed or withheld), any other Person, for such notional amount as may be required to ensure that floating rate pricing (after giving effect to Hedge Agreements, including, without limitation, cap agreements) shall be effective for no more than fifty percent (50%) of Consolidated Total Debt.
Required Hedge Agreements. There shall be in place all Hedge Agreements required by the provisions of Section 3.24(a); and
Required Hedge Agreements. (a) The Issuer shall maintain, at all times on and after the date of the Initial Funding Date, Hedge Agreements that: (i) are each between the Issuer and an Eligible Counterparty; (ii) have an aggregate notional amount that equals or, in the case of an interest rate cap only, exceeds the Note Principal Balance on the Initial Funding Date and as of any date of determination thereafter; (iii) in the case of any interest rate swaps, provide for the payment on each Payment Date to the Hedge Counterparty of interest on the notional amount thereof at a fixed rate per annum and for payment to the Issuer of a floating rate per annum equal to LIBOR for each Interest Accrual Period; (iv) in the case of any interest rate caps, have an effective strike rate based on LIBOR for each Interest Accrual Period, provide for payments on each Payment Date to the Issuer equal to any positive difference between LIBOR and the effective strike rate for such Interest Accrual Period and which may amortize monthly based on a schedule of the expected amortization of the 2011-A Exchange Note; (v) have final maturity dates which are the date of the last required scheduled payment on any 2011-A Lease Agreements allocated to the 2011-A Designated Pool as of such date; (vi) expressly acknowledge that the Issuer has assigned its rights thereunder to the Indenture Trustee for the benefit of the 2011-A Secured Parties and that the Indenture Trustee will have the right to enforce the Hedge Counterparty’s obligations thereunder; (vii) are either (A) substantially in the form of Exhibit C or (B) otherwise in form and substance reasonably acceptable to the Indenture Trustee (acting at the direction of the Required Noteholders); and (viii) have had copies thereof delivered to the Indenture Administrative Agents and the Indenture Trustee.
Required Hedge Agreements. Maintain at all times the Required Hedge with an aggregate notional amount equal to no less than seventy-five percent (75%) and no more than one hundred percent (100%) of the outstanding principal amount of the aggregate of the IFC A Loan and the MCPP Loan.
Required Hedge Agreements. The Parent and Borrowers shall enter into Hedge Agreements within sixty (60) calendar days after the Effective Date containing terms by which the Borrowers are protected against fluctuations in interest rates as to an aggregate notional amount of not less than the amount equal to fifty percent (50%) of the then outstanding aggregate principal balance of their Indebtedness for borrowed money and Indebtedness incurred under the TROL Documents, which Hedge Agreements shall otherwise be reasonably acceptable to the Agent and purchased from a Lender, an Affiliate of a Lender or such other Person reasonably acceptable as a credit matter to the Agent. The Parent and Borrowers shall determine to their own satisfaction whether such Hedge Agreements are sufficient to provide protection and to meet the needs of the Parent and Borrowers and such other obligors and none of the Agent, the Issuing Banks or the Lenders shall have any obligation or accountability with respect thereto or any obligation to propose, quote or enter into any Hedge Agreement.
