Specified Hedging Obligations Clause Samples

Specified Hedging Obligations. (a) Pursuant to the provisions of each Collateral Document, a Specified Hedging Obligation may be equally and ratably secured by all or any portion of the Notes Collateral so long as the Specified Counterparty to such Specified Hedging Obligation: (i) certifies that it has received true and correct copies of this Indenture, the Collateral Documents and the Intercreditor Agreement; (ii) agrees to be bound by the provisions of this Indenture (but solely to the extent such provisions relate to the Notes Collateral or the administration thereof), the Collateral Documents and the Intercreditor Agreement, in each case to the extent such provisions apply to the Holders; and (iii) acknowledges and agrees that it shall have no rights (other than the right to receive its pro rata share of any Notes Collateral) under any Collateral Document, including, but not limited to, any rights with respect to such Specified Counterparty’s ability to (a) consent to any amendments, waivers or other modifications to any such Collateral Document, including any such amendment, waiver or other modification that would result in the release of all or substantially all of the Notes Collateral pursuant to Section 10.05 (except in connection with the payment in full of the Secured Obligations or the consummation of a Discharge), other than any such amendment, waiver or other modification that would result in such Specified Counterparty not being entitled to receive its pro rata distribution of any Notes Collateral or the proceeds thereof that are to be distributed to the Holders; and (b) direct the Collateral Agent to take or refrain from taking any action with respect to all or any portion of the Notes Collateral. (b) Upon the creation of a Specified Hedging Obligation in accordance with Section 10.06(a), the Holders acknowledge and agree that, upon the exercise of any remedies pursuant to this Indenture or the Collateral Documents, they are only entitled to their ratable share of any payment with respect to the Notes Collateral.