Deemed Hedge Portfolio definition

Deemed Hedge Portfolio means the theoretical cleared derivatives power hedge contracts, as set forth on Schedule 1.1(b) hereto (as such schedule may be updated from time to time by the Borrower by a written notice to the Administrative Agent as further provided in the immediately succeeding sentence), settling with reference to the Applicable Settlement Price with respect to markets managed by the PJM Interconnection regional transmission organization (“PJM Contracts”) and the Electric Reliability Council of Texas (“ERCOT Contracts”) under which the Borrower would be the “floating price” payor (or equivalent). PJM Contracts, ERCOT Contracts and Calculation Months can be added to (or subtracted from) the Deemed Hedge Portfolio on the first Calculation Date (for this purpose, determined under clause (c) of the definition thereof) of each calendar month; provided that, at the time of any such addition or subtraction, the aggregate volume of the PJM Contracts and ERCOT Contracts in the Deemed Hedge Portfolio (after giving effect to such addition or subtraction) for any Calculation Month shall be no greater than the aggregate volume under actual power hedge contracts to which any Credit Party is a party for such Calculation Month.
Sample 1
Deemed Hedge Portfolio means the theoretical cleared derivatives power hedge contracts, as set forth on Schedule 1.1(b) hereto (as such schedule may be updated from time to time by the Borrower by a written notice to the Administrative Agent as further provided in the immediately succeeding sentence), settling with reference to the Applicable Settlement Price with respect to markets managed by the PJM Interconnection regional transmission organization (“PJM Contracts”) and the Electric Reliability Council of Texas, ERCOT (“ERCOT Contracts”), CAISO (“CAISO Contracts”), ISO-NE (“ISO-NE Contracts”), MISO (“MISO Contracts”) or NYISO (“NYISO Contracts”) under which the Borrower would be the “floating price” payor (or equivalent). PJM Contracts, ERCOT Contracts, CAISO Contracts, ISO-NE Contracts, MISO Contracts, NYISO Contract and Calculation Months can be added to (or subtracted from) the Deemed Hedge Portfolio on any Calculation Date; provided that, at the time of any such addition or subtraction, the aggregate volume of the PJM Contracts and, ERCOT Contracts, CAISO Contracts, ISO-NE Contracts, MISO Contracts and NYISO Contracts in the Deemed Hedge Portfolio (after giving effect to such addition or subtraction) for any Calculation Month shall be no greater than the aggregate volume under actual power hedge contracts to which any Credit Party is a party for such Calculation Month.
Sample 1
Deemed Hedge Portfolio means the theoretical cleared derivatives power hedge contracts, as set forth on Schedule 1.1(b) hereto (as such schedule may be updated from time to time by the Borrower by a written notice to the Administrative Agent as further provided in the immediately succeeding sentence), settling with reference to the Applicable Settlement Price with respect to markets managed by the PJM Interconnection regional transmission organization (“PJM Contracts”) and the Electric Reliability Council of Texas (“ERCOT Contracts”) under which the Borrower would be the “floating price” payor (or equivalent). PJM Contracts, ERCOT Contracts and Calculation Months can be added to (or subtracted from) the Deemed Hedge Portfolio on any Calculation Date; provided that, at the time of any such addition or subtraction, the aggregate volume of the PJM Contracts and ERCOT Contracts in the Deemed Hedge Portfolio (after giving effect to such addition or subtraction) for any Calculation Month shall be no greater than the aggregate volume under actual power hedge contracts to which any Credit Party is a party for such Calculation Month.
Sample 1

More Definitions of Deemed Hedge Portfolio

Deemed Hedge Portfolio means the theoretical cleared derivatives power hedge contracts, as set forth on Schedule 1.1(b) hereto, settling with reference to the Applicable Settlement Price with respect to markets managed by the PJM Interconnection regional transmission organization (“PJM Contracts”) and the Electric Reliability Council of Texas (“ERCOT Contracts”) under which the Borrower would be the “floating price” payor (or equivalent).
Sample 1

Related to Deemed Hedge Portfolio

  • Specified Hedge Agreement any Hedge Agreement entered into by the Borrower or any Subsidiary Guarantor and any Qualified Counterparty.

  • Specified Hedging Agreement means any Interest Rate/Currency Hedging Agreement entered into by the Borrower or any Subsidiary Guarantor and any Qualified Counterparty.

  • Interest Hedge Agreement means an interest rate protection agreement that may be entered into between the Borrower and an Interest Hedge Counterparty on or after the Closing Date, for the sole purpose of hedging interest rate risk between the portfolio of Collateral Loans and the Loans, as amended from time to time in accordance with the terms thereof, with respect to which the Rating Condition is satisfied.

  • Secured Hedge Agreement means any Swap Contract permitted under Article VI or VII that is entered into by and between any Loan Party and any Hedge Bank.

  • Designated Hedge Agreement means any Hedge Agreement (other than a Commodities Hedge Agreement) to which the Borrower or any Subsidiary is a party and as to which, at the time such Hedge Agreement is entered into, a Lender or any of its Affiliates is a counterparty.

  • Secured Hedging Obligations means all debts, liabilities and obligations of the Borrower or any Restricted Subsidiary in respect of any Secured Hedging Agreement.

  • Secured Hedging Agreement means any Hedging Agreement between a Credit Party and a Hedging Agreement Provider, as amended, restated, amended and restated, modified, supplemented or extended from time to time.

  • Lender-Related Hedge Provider means any Person that, at the time it enters into a Hedging Transaction with any Loan Party, (i) is a Lender or an Affiliate of a Lender and (ii) except when the Lender-Related Hedge Provider is SunTrust Bank or any of its Affiliates, has provided prior written notice to the Administrative Agent which has been acknowledged by the Borrower of (x) the existence of such Hedging Transaction and (y) the methodology to be used by such parties in determining the obligations under such Hedging Transaction from time to time. In no event shall any Lender-Related Hedge Provider acting in such capacity be deemed a Lender for purposes hereof to the extent of and as to Hedging Obligations except that each reference to the term “Lender” in Article IX and Section 10.3(b) shall be deemed to include such Lender-Related Hedge Provider. In no event shall the approval of any such Person in its capacity as Lender-Related Hedge Provider be required in connection with the release or termination of any security interest or Lien of the Administrative Agent.

  • Forward Hedge Price means, for any Forward Contract, the product of (x) an amount equal to one (1) minus the Forward Hedge Selling Commission Rate for such Forward Contract; and (y) the Volume-Weighted Hedge Price.

  • Hedge Collateral Defined in Section 5.3(b).

  • Secured Hedge Obligations means Obligations under Secured Hedge Agreements.

  • Forward Hedge Amount means, for any Forward, the amount specified as such in the Placement Notice for such Forward (as amended by the corresponding Acceptance, if applicable), which amount shall be the target Aggregate Sales Price of the Forward Hedge Securities to be sold by the Forward Seller or an Alternative Forward Seller in respect of such Forward, subject to the terms and conditions of this Agreement or the Alternative Distribution Agreement, as applicable.

  • Permitted Hedging Agreement means a Hedging Agreement made by a Loan Party or its Subsidiary in the ordinary course of its business in accordance with the reasonable requirements of its business, and not for speculative purposes, and in any such case, if the counterparty to such Permitted Hedging Agreement is not a Lender or an Affiliate of a Lender, such Permitted Hedging Agreement shall be unsecured (except for Permitted Liens of the type described in clause (xii) of the definition thereof).

  • Designated Hedge Creditor means each Person that participates as a counterparty to any Designated Hedge Agreement.

  • Hedge Provider means Xxxxx Fargo or any of its Affiliates.

  • Net Hedging Obligations means, as of any date, the Termination Value of any such Hedging Agreement on such date.

  • Permitted Bond Hedge Transaction means any call or capped call option (or substantively equivalent derivative transaction) on the Parent’s common Equity Interests purchased by the Parent in connection with the issuance of any Convertible Indebtedness; provided that the purchase price for such Permitted Bond Hedge Transaction does not exceed the net proceeds received by the Parent from the sale of such Convertible Indebtedness issued in connection with the Permitted Bond Hedge Transaction.

  • Excluded Hedging Obligation means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the guarantee of such Guarantor or the grant of such security interest becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such guarantee or security interest is or becomes illegal.

  • Excluded Hedge Obligation means, with respect to any Guarantor, (x) as it relates to all or a portion of the Guaranty of such Guarantor, any Swap Obligation if, and to the extent that, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the Guaranty of such Guarantor becomes effective with respect to such Swap Obligation or (y) as it relates to all or a portion of the grant by such Guarantor of a security interest, any Swap Obligation if, and to the extent that, such Swap Obligation (or such security interest in respect thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the security interest of such Guarantor becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Guaranty or security interest is or becomes illegal.

  • Interest Rate Hedge Agreement any interest rate swap agreement, interest rate cap, collar or other arrangement between the Borrower and a Hedge Provider, consisting of a “Master Agreement” in a form published by the International Swaps and Derivatives Association, Inc., together with a “Schedule” thereto in substantially such form as the Program Agent shall have approved, each “Confirmation” thereunder confirming the terms of each transaction thereunder and any credit support annex and schedule thereto.

  • Interest Rate Hedging Agreements means, with respect to any Person, the obligations of such Person under (i) interest rate swap agreements, interest rate cap agreements and interest rate collar agreements and (ii) other agreements or arrangements designed to protect such Person or any of its Subsidiaries against fluctuations in interest rates.

  • Lender-Provided Interest Rate Hedge means an Interest Rate Hedge which is provided by any Lender and with respect to which such Xxxxxx confirms to Agent in writing prior to the execution thereof that it: (a) is documented in a standard International Swap Dealers Association, Inc. Master Agreement or another reasonable and customary manner; (b) provides for the method of calculating the reimbursable amount of the provider’s credit exposure in a reasonable and customary manner; and (c) is entered into for hedging (rather than speculative) purposes. The liabilities owing to the provider of any Lender-Provided Interest Rate Hedge (the “Interest Rate Hedge Liabilities”) by any Borrower, Guarantor, or any of their respective Subsidiaries that is party to such Lender-Provided Interest Rate Hedge shall, for purposes of this Agreement and all Other Documents be “Obligations” of such Person and of each other Borrower and Guarantor, be guaranteed obligations under any Guaranty and secured obligations under any Guarantor Security Agreement, as applicable, and otherwise treated as Obligations for purposes of the Other Documents, except to the extent constituting Excluded Hedge Liabilities of such Person. The Liens securing the Interest Rate Hedge Liabilities shall be pari passu with the Liens securing all other Obligations under this Agreement and the Other Documents, subject to the express provisions of Section 11.5.

  • Hedge Transaction means each interest rate swap, index rate swap or interest rate cap transaction or comparable derivative arrangement between the Borrower and a Hedge Counterparty that is entered into pursuant to Section 10.6 and is governed by a Hedging Agreement.

  • Commodity Hedging Agreements means, in respect of a Person, any commodity purchase contract, commodity futures or forward contract, commodities option contract or other similar contract (including commodities derivative agreements or arrangements), to which such Person is a party or a beneficiary.

  • Interest Rate Hedge means an interest rate exchange, collar, cap, swap, floor, adjustable strike cap, adjustable strike corridor, cross-currency swap or similar agreements entered into by any Loan Party in order to provide protection to, or minimize the impact upon, such Loan Party of increasing floating rates of interest applicable to Indebtedness.

  • Interest Swap and Hedging Obligation means any obligation of any Person pursuant to any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate exchange agreement, currency exchange agreement or any other agreement or arrangement designed to protect against fluctuations in interest rates or currency values, including, without limitation, any arrangement whereby, directly or indirectly, such Person is entitled to receive from time to time periodic payments calculated by applying either a fixed or floating rate of interest on a stated notional amount in exchange for periodic payments made by such Person calculated by applying a fixed or floating rate of interest on the same notional amount.