Examples of Designated Hedge Obligations in a sentence
Notwithstanding anything to the contrary herein, neither the Administrative Agent nor the Collateral Agent shall owe any fiduciary duty, duty of loyalty, duty of care, duty of disclosure or any other obligation whatsoever to any holder of any Designated Hedge Obligations or any Designated Cash Management Services Obligations.
In furtherance of the foregoing and not in limitation thereof, no agreement relating to any Designated Cash Management Obligations or Designated Hedge Obligations will create (or be deemed to create) in favor of any holder of Obligations that is a party thereto any rights in connection with the management or release of the obligations of any Loan Party under any Loan Document.
Notwithstanding anything to the contrary in the foregoing, no Secured Party shall apply any payments it receives in respect of the Obligations, or any proceeds of Collateral it receives, to satisfy any Designated Hedge Obligations if, with respect to the Obligor making such payment or owning such Collateral, such Designated Hedge Obligations constitute Excluded Hedge Obligations.
Upon failure by any Credit Party to pay punctually any of the Designated Hedge Obligations, Borrowers shall forthwith on demand by Agent pay the amount not so paid at the place and in the currency and otherwise in the manner specified in this Agreement or any other applicable agreement or instrument.
In the event that acceleration of the time for payment of any amount payable by any Credit Party under any of the Designated Hedge Obligations is stayed upon insolvency, bankruptcy or reorganization of such Credit Party, all such amounts otherwise subject to acceleration under the terms of any applicable agreement or instrument evidencing or relating to any of the Designated Hedge Obligations shall nonetheless be payable by Borrowers under this Article XI forthwith on demand by Agent.