Common use of Unwinding of Hedging Contracts Clause in Contracts

Unwinding of Hedging Contracts. If, at any time, and whether as a result of any prepayment (in whole or in part) of the Loan or any cancellation (in whole or in part) of any Commitment or otherwise, the aggregate notional principal amount under all Hedging Transactions in respect of the Loan entered into by the Borrowers exceeds or will exceed the amount of the Loan after such prepayment or cancellation, then (unless otherwise approved by the Majority Lenders) the Borrowers shall immediately close out and terminate sufficient Hedging Transactions as are necessary to ensure that the aggregate notional principal amount under the remaining continuing Hedging Transactions is not greater than and will in the future not be greater than, the amount of the Loan at that time and as scheduled to be repaid from time to time thereafter pursuant to clause 6.2.

Appears in 3 contracts

Samples: Facilities Agreement (GasLog Partners LP), Facilities Agreement (GasLog Partners LP), Facilities Agreement (GasLog Ltd.)

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Unwinding of Hedging Contracts. If, at any time, and whether as a result of any prepayment (in whole or in part) of the Loan or any cancellation (in whole or in part) of any Commitment or otherwise, the aggregate notional principal amount under all Hedging Transactions in respect of the Loan entered into by the Borrowers Borrower exceeds or will exceed the amount of the Loan outstanding at that time after such prepayment or cancellation, then (unless otherwise approved by the Majority Required Lenders) the Borrowers Borrower shall immediately close out and terminate sufficient Hedging Transactions as are necessary to ensure that the aggregate notional principal amount under the remaining continuing Hedging Transactions is not greater than equals, and will in the future not be greater thanequal to, the amount of the Loan at that time and as scheduled to be repaid from time to time thereafter pursuant to clause 6.2Clause 6.2 (Scheduled Repayment of Advances).

Appears in 2 contracts

Samples: Agreement (Dorian LPG Ltd.), Agreement (Dorian LPG Ltd.)

Unwinding of Hedging Contracts. 27.11 If, at any time, and whether as a result of any prepayment (in whole or in part) of the Loan or any cancellation (in whole or in part) of any Commitment or otherwise, the aggregate notional principal amount under all Hedging Transactions in respect of the Loan entered into by the Borrowers Borrower exceeds or will exceed the amount of the Loan outstanding at that time after such prepayment or cancellation, then (unless otherwise approved by the Majority Lenders) the Borrowers Borrower shall immediately close out and terminate sufficient Hedging Transactions as are necessary to ensure that the aggregate notional principal amount under the remaining continuing Hedging Transactions is not greater than equals, and will in the future not be greater thanequal to, the amount of the Loan at that time and as scheduled to be repaid from time to time thereafter pursuant to clause 6.2.6.2 (Scheduled repayment of Facility). Variations

Appears in 1 contract

Samples: Teekay LNG Partners L.P.

Unwinding of Hedging Contracts. If, at any time, and whether as a result of any prepayment (in whole or in part) of the Loan or any cancellation (in whole or in part) of any Commitment or otherwise, the aggregate notional principal amount under all Hedging Transactions in respect of the Loan entered into by the Borrowers Borrower exceeds or will exceed the amount of the Loan outstanding at that time after such prepayment or cancellation, then (unless otherwise approved by the Majority Lenders) the Borrowers Borrower shall immediately close out and terminate sufficient Hedging Transactions as are necessary to ensure that the aggregate notional principal amount under the remaining continuing Hedging Transactions is not greater than in respect of the Loan equals, and will in the future not be greater thanequal to, the amount of the Loan at that time and as scheduled to be repaid from time to time thereafter pursuant to clause 6.2.

Appears in 1 contract

Samples: Navigator Holdings Ltd.

Unwinding of Hedging Contracts. 27.11 If, at any time, and whether as a result of any prepayment (in whole or in part) of the Loan or any cancellation (in whole or in part) of any Commitment or otherwise, the aggregate notional principal amount under all Hedging Transactions in respect of the Loan entered into by the Borrowers Borrower exceeds or will exceed the amount of the Loan outstanding at that time after such prepayment or cancellation, then (unless otherwise approved by the Majority Lenders) the Borrowers Borrower shall immediately close out and terminate sufficient Hedging Transactions as are necessary to ensure that the aggregate notional principal amount under the remaining continuing Hedging Transactions is not greater than equals, and will in the future not be greater thanequal to, the amount of the Loan at that time and as scheduled to be repaid from time to time thereafter pursuant to clause 6.26.2 (Scheduled repayment of Facility).

Appears in 1 contract

Samples: www.lw.com

Unwinding of Hedging Contracts. If, at any time, and whether as a result of any prepayment (in whole or in part) of the a Loan or any cancellation (in whole or in part) of any Commitment or otherwise, the aggregate notional principal amount under all Hedging Transactions in respect of the a Loan entered into by the Borrowers Borrower exceeds or will exceed the amount of the such Loan outstanding at that time after such prepayment or cancellation, then (unless otherwise approved by the Majority Lenders) the Borrowers Borrower shall immediately close out and terminate sufficient Hedging Transactions as are necessary to ensure that the aggregate notional principal amount under the remaining continuing Hedging Transactions is not greater than in respect of the relevant Loan equals, and will in the future not be greater thanequal to, the amount of the such Loan at that time and as scheduled to be repaid from time to time thereafter pursuant to clause 6.2.

Appears in 1 contract

Samples: Facility Agreement (Navigator Holdings Ltd.)

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Unwinding of Hedging Contracts. If, at any time, and whether as a result of any prepayment (in whole or in part) of the Loan or any cancellation (in whole or in part) of any Commitment or otherwise, the aggregate notional principal amount under all Hedging Transactions in respect of the Loan entered into by the Borrowers exceeds or will exceed the amount of the Loan outstanding at that time after such prepayment or cancellation, then (unless otherwise approved by the Majority Lenders) the Borrowers shall immediately close out and terminate sufficient Hedging Transactions as are necessary to ensure that the aggregate notional principal amount under the remaining continuing Hedging Transactions is not greater than equals, and will in the future not be greater thanequal to, the amount of the Loan at that time and as scheduled to be repaid from time to time thereafter pursuant to clause 6.2.

Appears in 1 contract

Samples: Facility Agreement (Navigator Holdings Ltd.)

Unwinding of Hedging Contracts. If, at any time, and whether as a result of any prepayment (in whole or in part) of the Loan or any cancellation (in whole or in part) of any Commitment or otherwise, the aggregate notional principal amount under all Hedging Transactions in respect of the Loan entered into by the Borrowers Borrower exceeds or will exceed the amount of the Loan outstanding at that time after such prepayment or cancellation, then (unless otherwise approved by the Majority Lenders) the Borrowers Borrower shall immediately close out and terminate sufficient Hedging Transactions as are necessary to ensure that the aggregate notional principal amount under the remaining continuing Hedging Transactions is not greater than and will in the future not be greater than, the amount of the Loan at that time and as scheduled to be repaid from time to time thereafter pursuant to clause 6.2.

Appears in 1 contract

Samples: Facility Agreement (GasLog Ltd.)

Unwinding of Hedging Contracts. If, at any time, and whether as a result of any prepayment (in whole or in part) of the Loan or any cancellation (in whole or in part) of any Commitment or otherwise, the aggregate notional principal amount under all Hedging Transactions in respect of the Loan entered into by the Borrowers Borrower exceeds or will exceed the amount of the such Loan outstanding at that time after such prepayment or cancellation, then (unless otherwise approved by the Majority Lenders) the Borrowers Borrower shall immediately close out and terminate sufficient Hedging Transactions as are necessary to ensure that the aggregate notional principal amount under the remaining continuing Hedging Transactions is not greater than in respect of the Loan equals, and will in the future not be greater thanequal to, the amount of the such Loan at that time and as scheduled to be repaid from time to time thereafter pursuant to clause 6.27 (Illegality, prepayment and cancellation).

Appears in 1 contract

Samples: Agreement (Navigator Holdings Ltd.)

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