Required Hxxxxx Sample Clauses

Required Hxxxxx. On or before three (3) business days after the date of this Loan Agreement, Guarantors will enter into Hedge Transactions covering crude oil and natural gas meeting the following requirements: (i) Hedge Transactions resulting in at least seventy percent (70%) of Guarantors’ anticipated production from their proved developed producing oil and gas properties (as forecast in Lender’s most recent engineering valuation of the Properties) in the aggregate; (ii) Hedge Transactions for a period of not less than forty-eight (48) months; (iii) Hedge Transactions resulting in a fixed price or floor price per barrel or mcf equal to the prevailing NYMEX swap price or, if approved by Lender, a regional basis swap price, or otherwise at hedging prices acceptable to Lender; and (iv) Hedge Transactions that are assignable to Lender as additional security for the Loans.

Required Hxxxxx. (a) The Issuer shall maintain, at all times on and after the date of the Closing Date, Hxxxxx in the form of either one or more interest rate swaps or one or more interest rate caps, in each case, (i) between the Issuer and an Eligible Counterparty, (ii) with an aggregate notional amount that equals or, in the case of an interest rate cap only, exceeds the aggregate Outstanding Amount of the Notes of the relevant Class on the Closing Date and as of any date of determination thereafter, (iii) that, in the case of an interest rate swap, provides for the payment on each Payment Date to the Hedge Counterparty of interest at a fixed rate per annum and for payment to the Issuer of a floating rate per annum equal to LIBOR plus an applicable spread, based upon a notional amount equal to the Outstanding Amount of the relevant Class of Floating Rate Notes, (iv) that, in the case of an interest rate cap, has an effective strike rate based on LIBOR plus an applicable spread, in each case based upon a notional amount equal to the Outstanding Amount of the relevant Class of Floating Rate Notes, and that provides for payments on each Payment Date to the Issuer equal to any positive difference between LIBOR and the effective strike rate for such Floating Rate Interest Accrual Period, (v) with a final maturity date which is the date of the last required scheduled payment on the Receivables, (vi) with respect to which the Indenture Trustee has received a Hedge Assignment, (vii) which is either (I) substantially in the form of Exhibit F or (II) otherwise in form and substance reasonably acceptable to the Indenture Trustee acting at the direction of the Controlling Class and (viii) a copy of which has been delivered to the Indenture Trustee.

Required Hxxxxx. The Borrower or Parent will, within thirty (30) days (or such later date as the Administrative Agent may agree in its sole discretion) after the Closing Date enter into the Required Hxxxxx and provide reasonably satisfactory evidence thereof to the Administrative Agent.