Commodity Hedge definition
Examples of Commodity Hedge in a sentence
The Company will not, and will not permit any of the Guarantors to, directly or indirectly enter into any Commodity Hedge Agreement that will constitute First Lien Debt, other than Eligible Commodity Hedge Agreements.
Enter into any Commodity Hedge Agreement, whether with an Approved Hedge Counterparty or another Person, other than the Minimum Required Commodity Hedge Agreements or liquidate or terminate any of Minimum Required Commodity Hedge Agreements.
Enter into any Commodity Hedge Agreement if, after giving effect thereto the total volume of Hydrocarbons to be hedged under Commodity Hedging Agreements would exceed, at the time of entering into any Commodity Hedge Agreement, 80% of the projected PDP production from the Oil and Gas Properties of the Borrower and the Subsidiaries for the period during which such Commodity Hedging Agreement is in effect.
If there is any inconsistency among the documents comprising the Agreement, the order of precedence among them is as follows, with the first listed document having the highest priority: This Agreement and its Modifications, Change Orders, Change Directives and any Exhibits thereto; The Department’s collective SCP, as amended, and any missing term in this Agreement shall be addressed in accordance with the collective SCP; and The Construction Documents released or approved by the Department.
Except as otherwise expressly provided herein, the Secured Commodity Hedge Counterparty will be entitled to manage and supervise their respective transactions under their respective Secured Commodity Hedge and Power Sales Agreement in accordance with law and as they may otherwise, in their sole discretion, deem appropriate.