Common use of Risk Management; Derivatives Clause in Contracts

Risk Management; Derivatives. (1) The Company and the Company Subsidiaries have in place risk management policies and procedures sufficient in scope and operation to protect against risks of the type and in amounts expected to be incurred by persons of similar size and in similar lines of business as the Company and the Company Subsidiaries. (2) All derivative instruments, including swaps, caps, floors and option agreements, whether entered into for the Company’s own account, or for the account of one or more of the Company Subsidiaries or their customers, were entered into (A) only for purposes of mitigating identified risk and in the ordinary course of business, (B) in accordance with prudent practices and in material compliance with all applicable laws, rules, regulations and regulatory policies, and (C) with counterparties believed by the Company to be financially responsible at the time; and each of them constitutes the valid and legally binding obligation of the Company or one of the Company Subsidiaries, enforceable in accordance with its terms. Neither the Company nor the Company Subsidiaries, nor, to the knowledge of the Company, any other party thereto, is in breach of any of its obligations under any such agreement or arrangement.

Risk Management; Derivatives. (1) The Company and the Company Subsidiaries have in place risk management policies and procedures sufficient in scope and operation to protect against risks of the type and in amounts expected to be incurred by persons of similar size and in similar lines of business as the Company and the Company Subsidiaries. (2) All derivative instruments, including swaps, caps, floors and option agreements, whether entered into for the Company’s own account, or for the account of one or more of the Company Subsidiaries or their customers, were entered into (Ai) only for purposes of mitigating identified risk and in the ordinary course of business, (Bii) in accordance with prudent practices and in material compliance with all applicable laws, rules, regulations and regulatory policies, and (Ciii) with counterparties believed by the Company to be financially responsible at the time; and each of them constitutes the valid and legally binding obligation of the Company or one of the Company Subsidiaries, enforceable in accordance with its terms. Neither the Company nor the Company Subsidiaries, nor, to the knowledge of the Company, any other party thereto, is in breach of any of its obligations under any such agreement or arrangement.

Risk Management; Derivatives. (1) The Company and the Company Subsidiaries have in place risk management policies and procedures sufficient in scope and operation to protect against risks of the type and in amounts expected to be incurred by persons of similar size and in similar lines of business as the Company and the Company Subsidiaries. (2) All derivative instruments, including swaps, caps, floors and option agreements, whether entered into for the Company’s 's own account, or for the account of one or more of the Company Subsidiaries or their customers, were entered into (Ai) only for purposes of mitigating identified risk and in the ordinary course of business, (Bii) in accordance with prudent practices and in material compliance with all applicable laws, rules, regulations and regulatory policies, and (Ciii) with counterparties believed by the Company to be financially responsible at the time; and each of them constitutes the valid and legally binding obligation of the Company or one of the Company Subsidiaries, enforceable in accordance with its terms. Neither the Company nor the Company Subsidiaries, nor, to the knowledge of the Company, any other party thereto, is in breach of any of its obligations under any such agreement or arrangement.

Risk Management; Derivatives. (1) The Company and the Company Subsidiaries have in place risk management policies and procedures sufficient in scope and operation to protect against risks of the type and in amounts reasonably expected to be incurred by persons companies of similar size and in similar lines of business as the Company and the Company Subsidiaries. (2) All derivative instruments, including swaps, caps, floors and option agreements, whether entered into for the Company’s own account, or for the account of one or more of the Company Subsidiaries or their customers, were entered into (Ai) only for purposes of mitigating identified risk and in the ordinary course of business, (Bii) in accordance with prudent practices and in material compliance with all applicable laws, rules, regulations and regulatory policies, and (Ciii) with counterparties believed by the Company to be financially responsible at the time; and each of them constitutes the valid and legally binding obligation of the Company or one of the Company Subsidiaries, enforceable in accordance with its terms. Neither the Company nor the Company Subsidiaries, nor, to the knowledge Knowledge of the Company, any other party thereto, is in breach of any of its obligations under any such agreement or arrangement.

Risk Management; Derivatives. (1) The Company and the Company Subsidiaries have in place risk management policies and procedures sufficient in scope and operation to protect against risks of the type and in amounts reasonably expected to be incurred by persons of similar size and in similar lines of business as the Company and the Company Subsidiaries. (2) All material derivative instruments, including swaps, forwards, caps, floors and option agreements, whether entered into for the Company’s own account, or for the account of one or more of the Company Subsidiaries or their customers, were entered into (Ai) only for purposes of mitigating identified risk and in the ordinary course of business, (Bii) in accordance with prudent practices and in all material compliance respects with all applicable laws, rules, regulations and regulatory policies, and (Ciii) with counterparties believed by the Company to be financially responsible at the time; and each of them constitutes the valid and legally binding obligation of the Company or one of the Company Subsidiaries, enforceable in accordance with its terms. Neither the Company nor the Company Subsidiaries, nor, to the knowledge of the Company, nor any other party thereto, is in material breach of any of its obligations or has materially defaulted under any such agreement or arrangementarrangement except as listed on Schedule 2.2(s) (such agreements, the “Disclosed Agreements”).

Risk Management; Derivatives. (1) The Company and the Company Subsidiaries have in place risk management policies and procedures sufficient in scope and operation to protect against risks of the type and in amounts expected to be incurred by persons of similar size and in similar lines of business as the Company and the Company Subsidiaries. (2) . All derivative instruments, including swaps, caps, floors and option agreements, whether entered into for the Company’s own account, or for the account of one or more of the Company Subsidiaries or their customers, were entered into (Ai) only for purposes of mitigating identified risk and in the ordinary course of business, (Bii) in accordance with prudent practices and in material compliance with all applicable laws, rules, regulations and regulatory policies, and (Ciii) with counterparties believed by the Company to be financially responsible at the time; and each of them constitutes the valid and legally binding obligation of the Company or one of the Company Subsidiaries, enforceable in accordance with its terms. Neither the Company nor the Company Subsidiaries, nor, to the knowledge of the Company, any other party thereto, is in breach of any of its obligations under any such agreement or arrangement.

Risk Management; Derivatives. (1) The Company and the Company Subsidiaries have in place risk management policies and procedures sufficient in scope and operation to protect against risks of the type and in amounts reasonably expected to be incurred by persons companies of similar size and in similar lines of business as the Company and the Company Subsidiaries. (2) All derivative instruments, including swaps, caps, floors and option agreements, whether entered into for the Company’s own account, or for the account of one or more of the Company Subsidiaries or their customers, were entered into (Ai) only for purposes of mitigating identified risk and in the ordinary course of business, (Bii) in accordance with prudent practices and in material compliance with all applicable laws, rules, regulations and regulatory policies, policies and (Ciii) with counterparties believed by the Company to be financially responsible at the time; and each of them constitutes the valid and legally binding obligation of the Company or one of the Company Subsidiaries, enforceable in accordance with its terms. Neither the Company Company, nor the Company Subsidiaries, nor, to the knowledge of the Company, any other party thereto, thereto is in breach of any of its obligations under any such agreement or arrangement.