Hedging Debt definition

Hedging Debt means all present and future moneys, debts and liabilities due, owing or incurred by any Obligor to any Hedging Bank under or in connection with any Hedging Document (in each case, whether alone or jointly, or jointly and severally, with any other person, whether actually or contingently, and whether as principal, surety or otherwise) together with any related Additional Debt.

Hedging Debt means all liabilities payable to a Hedge Counterparty under or in connection with any Hedging Document. Hedging Document means any document entered into between the Company and a Hedge Counterparty for the purpose of implementing the hedging strategy required by the Hedging Letter.

Hedging Debt means, subject to Clause 4.2 (Hedging Agreements), all present and future moneys, debts and liabilities due, owing or incurred from time to time by the Company to any Hedge Counterparty under or in connection with any Hedging Agreement.

Examples of Hedging Debt in a sentence

• Any claim or right of indemnity under this paragraph shall constitute Hedging Debt (if owned to a Hedging Bank) or otherwise Subordinated Debt.

• Unless a Declared Default has occurred, the relevant Obligor may pay, and (as the case may be) the Hedging Banks or Long Term Hedging Banks may receive and retain, scheduled payments in respect of Hedging Debt or Long Term Hedging Debt arising under the original terms of the Hedging Documents or the Long Term Hedging Documents (subject to any amendments permitted by this Agreement).

• Each of the Agent, the Hedging Banks and the Long Term Hedging Banks will on request by any of the others or the Security Agent from time to time notify the others and the Security Agent of details of the amount of outstanding Senior Debt, Hedging Debt or Long Term Hedging Debt respectively.

• Unless expressly provided to the contrary in this Agreement, the Senior Debt and the Hedging Debt shall rank pari passu between themselves in right and priority of payment.

• The subordination and priority provisions in this Deed constitute a continuing subordination and priority and benefit to the ultimate balance of the Senior Debt, the Hedging Debt and the Note Debt respectively regardless of any intermediate payment or discharge of the Senior Debt, the Hedging Debt or the Note Debt in whole or in part.

More Definitions of Hedging Debt

Hedging Debt means hedging transactions entered into by a Group Company in respect of payments to be made under the Bonds or for hedging exposures (including hedging exposures in relation to fluctuation in currency rates) arising in the ordinary course of business, but not for speculative or investment purposes, to the extent the hedging counterparty has acceded to the Intercreditor Agreement and as further defined in the Intercreditor Agreement.

Hedging Debt means, all present and future moneys, debts and liabilities due, owing or incurred by the Issuer to the Hedging Bank under or in connection with any derivative or hedging transactions entered into with the Hedging Bank pursuant to the Hedging Documents (as defined in the Notes Trust Deed);

Hedging Debt means all present and future moneys, debts and liabilities due, owing and/or incurred by the Borrower to any Hedging Bank in connection with any Hedging Contract (in each case, whether alone or jointly, or jointly and severally, with any other person, whether actually or contingently, and whether as principal, surety or otherwise) determined pursuant to the respective Hedging Contract. Hedging Exposure means, as at any relevant date, the aggregate of the amount certified by each of the Hedging Banks to the Security Agent to be the net amount in dollars (a) in relation to all Hedging Contracts that have been closed out on or prior to the relevant date, that is due and owing by the Borrower to the Hedging Banks (or, to the extent that such amount is due and owing by the Hedging Banks to the Borrower, which amount shall be expressed as a negative amount) in respect of such Hedging Contracts on the relevant date and (b) in relation to all Hedging Contracts that are continuing on the relevant date, that would be payable by the Borrower to the Hedging Banks (or, to the extent that such amount would be payable by the Hedging Banks to the Borrower, which amount shall be expressed as a negative amount) under (and calculated in accordance with) the early termination provisions of the Hedging Contracts as if an Early Termination Date (as defined in the Hedging Master Agreements) had occurred on the relevant date in relation to all such continuing Hedging Contracts.

Hedging Debt means all Debt payable, owing due or incurred by any Obligor to a Hedging Bank under or in connection with the Secured Hedging Agreements.

Hedging Debt has the meaning given to it in the Priority Agreement.

Hedging Debt means all present and future Liabilities payable or owing by the Company to the Hedge Counterparties under or in connection with the Hedging Agreements. Holding Company means, in relation to a person, any other person in respect of which it is a Subsidiary. HSBC Facility Agreement means the £10,000,000 term loan facility dated 23 May 2017 between the Company and the Fourth Facility Bank. Insolvency Proceedings means any corporate action, legal proceedings or other procedure or step (including a petition, proposal or convening a meeting) is taken in relation to:

Hedging Debt means all liabilities due to any Hedging Lender under any Hedging Agreement;