Common use of Swaps Clause in Contracts

Swaps. No Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 68 contracts

Samples: Revolving Credit, Term Loan, Guaranty and Security Agreement (Dril-Quip Inc), Revolving Credit and Security Agreement (Virco MFG Corporation), Revolving Credit, Term Loan, Guaranty and Security Agreement (Dril-Quip Inc)

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Swaps. No Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 18 contracts

Samples: Revolving Credit and Security Agreement (Union Drilling Inc), Revolving Credit and Security Agreement (Teamstaff Inc), Revolving Credit and Security Agreement (Bentley Systems Inc)

Swaps. No Borrower is not a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 12 contracts

Samples: Revolving Credit, Term Loan and Security Agreement (Measurement Specialties Inc), Revolving Credit and Security Agreement (Cygne Designs Inc), Revolving Credit and Security Agreement (Badger Paper Mills Inc)

Swaps. No Borrower is not a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 11 contracts

Samples: Revolving Credit and Security Agreement (Goodman Networks Inc), Revolving Credit and Term Loan Agreement (Hudson Technologies Inc /Ny), Revolving Credit and Security Agreement (Research Pharmaceutical Services, Inc.)

Swaps. No Borrower is a party to, nor will it be a party to, any ----- swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 3 contracts

Samples: Revolving Credit and Security Agreement (Styrochem International LTD), Revolving Credit and Security Agreement (Styrochem International Inc), Revolving Credit, Term Loan and Security Agreement (Air Methods Corp)

Swaps. No Neither the Borrower or any of its Subsidiaries is a party to, nor will it be a party to, any swap agreement whereby such Borrower or Subsidiary has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 3 contracts

Samples: Senior Secured Term Loan Credit Agreement (Pacific Ethanol, Inc.), Senior Secured Term Loan Credit Agreement (Aventine Renewable Energy Holdings Inc), Senior Secured Term Loan Credit Agreement (Aventine Renewable Energy Holdings Inc)

Swaps. No Except as otherwise agreed by Agent, no Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (SMTC Corp), Revolving Credit and Security Agreement (SMTC Corp)

Swaps. No Borrower or Guarantor is a party to, nor will it be a party to, any swap agreement whereby such Borrower or Guarantor has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Build-a-Bear Workshop Inc), Revolving Credit and Security Agreement (Build a Bear Workshop Inc)

Swaps. No Borrower nor any of their respective Subsidiaries is a party to, nor will it be a party to, any swap agreement whereby such Borrower Person has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Empeiria Acquisition Corp)

Swaps. No With the exception of a swap agreement entered into with respect to this Agreement, no Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Franklin Electronic Publishers Inc)

Swaps. No Borrower is a party to, nor will it any Borrower be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Credit Agreement (STG Group, Inc.)

Swaps. No Borrower is a party to, nor will it be a party to, any swap agreement whereby such a Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (E Com Ventures Inc)

Swaps. No Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages payments upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Brightstar Corp.)

Swaps. No Neither Borrower nor Guarantor is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 1 contract

Samples: Credit and Security Agreement (Cold Metal Products Inc)

Swaps. No Other than Permitted Currency Hedge Agreements and Lender Provided Hxxxxx, Borrower is not a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Apac Customer Service Inc)

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Swaps. No Borrower is is, as of the date of this Agreement, a party to, nor will it be a party to, to any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Hutchinson Technology Inc)

Swaps. No Borrower is a party to, nor will it be a party to, other than as permitted hereunder, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Phosphate Holdings, Inc.)

Swaps. No Borrower is not a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap currencies or interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either partyrates.

Appears in 1 contract

Samples: Loan and Security Agreement (Atari Inc)

Swaps. No Other than a Lender-Provided Interest Rate Hedge, no Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Presstek Inc /De/)

Swaps. No Borrower is not a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to pledge any collateral for such arrangement or to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Danskin Inc)

Swaps. No Neither any Borrower nor any Guarantor is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Horizon Offshore Inc)

Swaps. No Borrower is not a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-two way basis” without regard to fault on the part of either party.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Union Drilling Inc)

Swaps. No Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event it is or has been (i) effected in a standard International Swap Dealer Association Agreement or such other standard form as is acceptable to Agent, (ii) shall provide for the method of default thereunder are payable on an unlimited “two-way calculating the reimbursable amount of the provider's credit exposure in a reasonable and customary basis” without regard , and (iii) is not speculative in nature but relates to fault on a hedging of indebtedness or currency exposure of the part of either partyBorrowers.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Foster L B Co)

Swaps. No Borrower is a party to, nor will it be a party to, any swap agreement whereby such any Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited "two-way basis" without regard to fault on the part of either party.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Pietrafesa Corp)

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