Required Hedge Agreements. 106 9.08. Insurance and Condemnation Proceeds...................................106 9.09.
Required Hedge Agreements. The Borrower shall, no later than the date that is within ninety (90) days of the date hereof, 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.”; and
(iv) Section 7.01(z) (Events of Default) of the Credit Agreement shall be amended and restated in its entirety as follows:
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. In the event the Eurodollar Rate exceeds eight percent (8.0%) for a period of thirty (30) days, the Borrowers shall 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 a notional amount equal to the lesser of (a) $100,000,000 minus the amount of fixed rate Indebtedness for Borrowed Money and (b) fifty percent (50%) of all of the Borrowers' Indebtedness for Borrowed Money minus the amount of fixed rate Indebtedness for Borrowed Money; provided that the Borrowers shall in no event be required to enter into Hedge Agreements if their Indebtedness for Borrowed Money is equal to or less than $40,000,000.
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. Within ten (10) days after the Delta/Laramie Transaction Closing Date, Borrower shall have entered into or be subject to (including, without limitation, whether by assignment, transfer, novation or otherwise) Oil and Gas Hedge Transactions, the net notional volumes for which are not less than 50% of the reasonably anticipated projected gas production on a forward basis from the Credit Parties’ total Proved Producing Mineral Interests, as forecast based upon the Initial Reserve Report, for the period from the later of (a) ten (10) days after the Delta/Laramie Transaction Closing Date through two years following that date and (b) September 1, 2012, through September 1, 2014.
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.
Required Hedge Agreements. (b) The Borrower shall enter into one or more Hedge Agreements with respect to the Acquisition Facility Term Loans such that at all times that Acquisition Facility Term Loans are outstanding, a minimum of 50% aggregate outstanding principal balance of the Acquisition Facility Term Loans shall be covered by such Hedge Agreements. If, at any time that Acquisition Facility Term Loans are outstanding, the Base Eurodollar Rate with respect to a three-month Eurodollar Interest Period shall exceed 7.4% per annum, the Parent --- ----- Guarantor shall cause the Borrower to immediately begin arrangements to enter into one or more additional Hedge Agreements such that, after giving effect thereto, the entire aggregate outstanding principal balance of the Acquisition Facility Term Loans shall be covered by Hedge Agreements. To the extent that it has not done so already, the Parent Guarantor shall cause the Borrower to immediately enter into the Hedge Agreements described in the immediately preceding sentence if, at any time that Acquisition Facility Term Loans are outstanding, the Base Eurodollar Rate with respect to a three-month Eurodollar Interest Period shall exceed 7.5% per annum. --- -----
