Hedge Value definition

Hedge Value. With respect to any Business Day and a specific Hedging Instrument, the positive amount, if any, that is equal to the amount that would be paid to the Issuer in consideration of an agreement between the Issuer and an unaffiliated third party, that would have the effect of preserving for the Issuer the net economic equivalent, as of such Business Day, of all payment and delivery requirements payable to and by the Issuer under such Hedging Instrument until the termination thereof, as determined by the Market Value Agent in accordance with Section 6.03 hereof.

Hedge Value means, with respect to any commodity Hedge Transaction, the xxxx to market value of such Hedge Transaction.

Hedge Value means, with respect to any Business Day and a specific Interest Rate Protection Agreement, the amount, if any, that is equal to the amount that would be paid to Seller (expressed as a positive number) or paid by Seller (expressed as a negative number) in consideration of an agreement between Seller and an unaffiliated third party, that would have the effect of preserving for Seller the net economic equivalent, as of such Business Day, of all payment and delivery requirements payable to and by Seller under such Interest Rate Protection Agreement until the termination thereof, as determined by Buyer absent manifest error.

Examples of Hedge Value in a sentence

• In the event of the occurrence of an Enforcement Event, in lieu of the delivery of the Repurchase Price by Seller on the Mandatory Early Repurchase Date, Seller shall be obliged to pay to Buyer an amount equal to the Repurchase Price as of the Mandatory Early Repurchase Date minus the value (positive or negative) of any agreement entered into by Buyer for the purpose of hedging its interest rate exposure resulting from its entry into each Transaction hereunder (the "Hedge Value").

• The total amount to be paid by Buyer to Seller, on behalf of itself and each of SPCP Group and SPCP Group III, for the Assigned Equity and to the ORRI Sellers for the Acquired XXXXx shall in the aggregate be equal to $100,760,379.09, which represents the sum of (i) $95,647,652.15 (the “Purchase Price”) and (ii) $5,112,726.94 (the “Commodity Hedge Value, and together with the Purchase Price, the “Closing Date Payment Amount”).

• Buyer shall promptly notify Seller of the occurrence of an Enforcement Event and of the resulting Mandatory Early Repurchase Date, which notice shall state that on the Mandatory Early Repurchase Date all Transactions will be terminated in their entirety and the amount of the Repurchase Price and Hedge Value as of the Mandatory Early Repurchase Date.

• Buyer shall promptly (but, in any event, within three (3) Business Days) notify Seller of the occurrence of an Enforcement Event and of the resulting Mandatory Early Repurchase Date, which notice shall state that on the Mandatory Early Repurchase Date all Transactions will be terminated in their entirety and the amount of the Repurchase Price and Hedge Value as of the Mandatory Early Repurchase Date.

• Such mandatory reduction of the Borrowing Base shall be effective as of the date Administrative Agent notifies Borrower of the negative Net Hedge Value resulting from such event.

More Definitions of Hedge Value

Hedge Value. With respect to any Business Day and a specific Hedging Instrument, the amount, if any, that is equal to the amount that would be paid to the Issuer (expressed as a positive number) or paid by the Issuer (expressed as a negative number) in consideration of an agreement between the Issuer and an unaffiliated third party, that would have the effect of preserving for the Issuer the net economic equivalent, as of such Business Day, of all payment and delivery requirements payable to and by the Issuer under such Hedging Instrument until the termination thereof, as determined by the Market Value Agent in accordance with SECTION 4.14 hereof.

Hedge Value means, with respect to each Scheduled Hedge Agreement, the product of (a) the positive difference (if any) of the prices to be received by a Credit Party thereunder during its remaining life minus the corresponding prices in the Current Bank Price Deck times (b) the volumes hedged thereunder. The Hedge Value of any Scheduled Hedge Agreement shall be as set forth in the most recent Hedge Schedule (or, if applicable, Supplemental Hedge Schedule) delivered by the Borrower to the Administrative Agent.

Hedge Value means, with respect to each contract, instrument or other arrangement creating a Hedging Obligation, the net obligations of the Borrower or any Subsidiary thereunder equal to the termination value thereof as determined in accordance with its provisions (if such Hedging Obligation has been terminated) or the mark xx market value thereof as determined on the basis of available quotations from any recognized dealer in, or from Bloomberg or other similar service providing market quotations for, the applicable Hedging Obligation (if such Hedging Obligation has not been terminated).

Hedge Value. With respect to any Business Day and a specific Hedging Instrument, the positive amount, if any, that is equal to the amount that would be paid to the Trust in consideration of an agreement between the Trust and an unaffiliated third party, that would have the effect of preserving for the Trust the net economic equivalent, as of such Business Day, of all payment and delivery requirements payable to and by the Trust under such Hedging Instrument until the termination thereof, as determined by the Market Value Agent in accordance with Section 8.03 hereof.

Hedge Value with respect to each Hedging Obligation, the net obligations of Borrowers, Parent, or any Subsidiary of Parent thereunder equal to the termination value thereof as determined in accordance with its provisions (if such Hedging Obligation has been terminated) or the xxxx to market value thereof as determined on the basis of available quotations from any recognized dealer in, or from Bloomberg or other similar service providing market quotations for, the applicable Hedging Obligation (if such Hedging Obligation has not been terminated). Hedging Obligations: without duplication, any and all obligations of Borrowers, Parent or any Subsidiary, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under any Hedging Agreement. For purposes of any computation hereunder, each Hedging Obligation shall be valued at the Hedge Value thereof. Increased Reporting Trigger Period: the period (a) commencing on the day that an Event of Default occurs or Availability is less than the greater of 12.5% of the Revolver Commitment or $13,750,000 at any time, and (b) continuing until no Event of Default has existed and Availability has been greater than the greater of 12.5% of the Revolver Commitment or $13,750,000 for at least 60 consecutive days. Indemnified Taxes: (a) Taxes other than Excluded Taxes, imposed on or relating to any payment of an Obligation, and (b) to the extent not otherwise described in clause (a), Other Taxes. Indemnitees: Agent Indemnitees, Lender Indemnitees, Issuing Bank Indemnitees and Bank of America Indemnitees. Insolvency Proceeding: any case, filing, or proceeding commenced by or against a Person under any state, federal or foreign law for, or any agreement of such Person to, (a) the entry of an order for relief under the Bankruptcy Code, or any other insolvency, debtor relief or debt adjustment law; (b) the appointment of a receiver, interim receiver, trustee, liquidator, administrator, monitor, conservator or other custodian for such Person or any part of its Property; or (c) an assignment or trust mortgage for the benefit of creditors.

Hedge Value shall have the meaning set forth in the Pricing Side Letter.

Hedge Value. With respect to any Business Day and a specific Hedging Instrument, the positive amount, if any, that is equal to the amount that would be paid to the Issuer in consideration of an agreement between the Issuer and an unaffiliated third party, that would have the effect of preserving for the Issuer the net economic equivalent, as of such Business Day, of all payment and delivery requirements payable to and by the Issuer under such Hedging Instrument until the termination thereof, as determined by the Market Value Agent in accordance with SECTION 4.14 hereof.