Commodity Hedging Transaction definition
Commodity Hedging Transaction means any swap transaction, cap, floor, collar, exchange transaction, forward transaction, or other exchange or protection transaction relating to hydrocarbons or any option with respect to any such transaction, including derivative financial instruments.
Commodity Hedging Transaction means any Hedging Transaction relating to Hydrocarbons.
Commodity Hedging Transaction means any swaps (including without limitation heat rate swaps), caps, collars, puts, calls, floors, futures, options, spots, forwards, power purchase, tolling or sale agreements, fuel purchase or sale agreements (including any and all fuels used for power generation, whether or not used by the Borrower and its Restricted Subsidiaries), weather risk management transactions, emissions or renewable energy credit or allowance purchase or sales agreements, power transmission agreements, fuel enrichment, processing, fabrication, transportation or storage agreements, netting agreements, or commercial or trading agreements, each with respect to, or involving the purchase, transmission, distribution, sale, lease or hedge of, energy, generation capacity or fuel (including any and all fuels used for power generation, whether or not used by the Borrower and its Restricted Subsidiaries), or any other energy related commodity or service, price or price indices for any such commodities or services or any other similar derivative agreements, and any other similar agreements from time to time entered into by the Borrower or any Restricted Subsidiary in the ordinary course of its business as a merchant power generator (as its risk management practices and methods may evolve from time to time, consistent with all requirements of law and applicable regulation) in order to manage fluctuations in the price or availability of any energy commodity or to manage any regulatory or other risk of the Borrower or such Restricted Subsidiary in connection with its business as a merchant power generator (and in any case not for speculative purposes).
Examples of Commodity Hedging Transaction in a sentence
As of the date of this Agreement the Borrower is, and as of the date of the Borrower’s entry into any Commodity Hedging Transaction the Borrower will be, an “Eligible Contract Participant” as defined in 7 U.S.C. § 1a(18).
As of the date of this Agreement the Borrower is, and as of the date of the Borrower’s entry into any Commodity Hedging Transaction the Borrower will be, an “Eligible Contract Participant” as defined in 7 U.S.C. § 1a(l8).
As of the date of this Agreement each Loan Party is, and as of the date of any Loan Party's entry into any Commodity Hedging Transaction such Loan Party will be, an "Eligible Contract Participant" as defined in 7 U.S.C. § 1a(18).
Commodity Hedging Transactions that hedge different elements of commodity risk (such as, for example, basis risk and price risk), shall not be aggregated together when calculating the foregoing limitations on notional volumes; provided, further, that no Loan Party shall enter into a Commodity Hedging Transaction where it is the seller of a call option unless it is a component of a collar transaction or otherwise has an offsetting put for the same volumes and same period.
As of the date of this Agreement the Borrower is, and as of the date of the Borrower’s entry into any Commodity Hedging Transaction such Borrower will be, an “Eligible Contract Participant” as defined in 7 U.S.C. § 1a(18).
Within 3 Business Days of the last day of each fiscal quarter after the Hedge Trigger Date, Borrower shall enter into, and thereafter maintain, such Acceptable Commodity Hedging Transaction as would be required as if the last day of such fiscal quarter were the Hedge Trigger Date, as otherwise provided in this Section 7.17.
More Definitions of Commodity Hedging Transaction
Commodity Hedging Transaction means a Treasury Transaction, referencing, inter alia, the price of commodities, governed by an OCB Secured Hedging Agreement and entered into by an Obligor and a Commodity Hedge Counterparty.
Commodity Hedging Transaction means any commodity hedging transaction pertaining to Hydrocarbons or minerals, whether in the form of a swap agreement, option to acquire or Dispose of a future contract, whether on an organized commodities exchange or otherwise, or similar type of financial transaction classified as “notional principal contracts” pursuant to Treasury Regulations Section 1.446-3. Any Commodity Hedging Transaction shall be identified in the books and records of the Company as a “hedging transaction” in the manner and at the times prescribed by Treasury Regulations Section 1.1221-2(f).
Commodity Hedging Transaction means any Hedging Transaction relating to Hydrocarbons. Notwithstanding the foregoing, solely for purposes of Section 7.08, the term “Commodity Hedging Transaction” shall be deemed to exclude any purchased put options or floors for Hydrocarbons that are not related to corresponding calls, collars or swaps and with respect to which neither the Issuer nor any Restricted Subsidiary has any payment obligation other than premiums and charges the total amount of which are fixed and known at the time such transaction is entered into. “Compliance Certificate” means a Compliance Certificate substantially in the form of Exhibit D or such other form reasonably satisfactory to the Lead Holder. “Confidential Information” as defined in Section 11.17. “Conforming Borrowing Base” means a conforming borrowing base determined based on customary oil and gas lending criteria as they exist at the particular time for commercial banks that are regularly engaged in making, purchasing, holding or otherwise investing in revolving commercial loans in reserve-based oil and gas credit facilities in the United States, including by employing customary mechanisms for periodic redeterminations thereof (it being acknowledged and agreed that the Borrowing Base as determined on the date hereof in accordance with the RBL Credit Agreement as in effect on the date hereof satisfies such standard). “Consolidated Net Leverage Ratio” means: (a) for purposes of Section 7A.01(a)(i), as of the last day of the applicable Fiscal Quarter, the ratio of (i) Consolidated Total Debt as of such date to (ii) EBITDAX for the Rolling Period ending on such date; and (b) for any other purpose hereunder, as of any date of determination, the ratio of (i) Consolidated Total Debt as of such date to (ii) EBITDAX for the most recently ended Rolling Period for which financial statements are available. “Consolidated Restricted Subsidiaries” means any Restricted Subsidiaries that are Consolidated Subsidiaries. “Consolidated Subsidiaries” means each Subsidiary of the Issuer (whether now existing or hereafter created or acquired) the financial statements of which shall be (or should have been) consolidated with the financial statements of the Issuer in accordance with GAAP. “Consolidated Total Debt” means, at any date, (a) the aggregate amount of Debt of the Issuer and its Consolidated Restricted Subsidiaries on a consolidated basis in accordance with GAAP as of such date minus (b) the aggregate amount of unrestricted cash a...
Commodity Hedging Transaction means any Hedging Transaction relating to Hydrocarbons. “Compliance Certificate” means a certificate, substantially in the form of Exhibit B, or in any other form agreed to by Borrower and Administrative Agent, prepared by and certified by a Responsible Officer of Borrower. “Conforming Changes” means, with respect to the use, administration of or any conventions associated with SOFR or any proposed Successor Rate or Term SOFR, as applicable, any conforming changes to the definitions of “Base Rate,” “SOFR,” “Term SOFR” and “Interest Period,” timing and frequency of determining rates and making payments of interest and other technical, administrative or operational matters (including, for the avoidance of doubt, the definitions of “Business Day” and “U.S. Government Securities Business Day”, timing of borrowing requests or prepayment, conversion or continuation notices and length of lookback periods) as may be appropriate, in the reasonable discretion of Administrative Agent, to reflect the adoption and implementation of such applicable rate(s) and to permit the administration thereof by Administrative Agent in a manner substantially consistent with market practice (or, if Administrative Agent reasonably determines that adoption of any portion of such market practice is not administratively feasible or that no market practice for the administration of such rate exists, in such other manner of administration as Administrative Agent determines is reasonably necessary in connection with the administration of this Agreement and any other Loan Document). “Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. “Consolidated Cash Balance” means, at any time, (a) the aggregate amount of cash and Cash Equivalents held or owned by (either directly or indirectly), credited to the account of or otherwise required to be reflected as an asset on the balance sheet, in each case, of Borrower or any of its Restricted Subsidiaries (other than cash collateral in respect of Letters of Credit held by Administrative Agent pursuant to Section 2.5) less (b) the sum of (i) any cash or Cash Equivalents set aside to pay royalty obligations, working interest obligations, suspense payments, severance Taxes, payroll, payroll Taxes, other Taxes, employee wage and benefit