Hedging Reserve definition
Hedging Reserve means a reserve under the Borrowing Base Limitation equal to the lesser of (i) One Million Dollars ($1,000,000) and (ii) the aggregate amount of Net Hedging Obligations outstanding from time to time (determined in the manner set forth herein) maintained by the Company for the benefit of those Banks or their Affiliates which provide Hedging Agreements to the Company or any Domestic Subsidiary under or in connection with this Agreement, and allocated to such Banks or their Affiliates in the amounts so determined and reported by the Company in its quarterly Borrowing Base Certificates or any updated Borrowing Base Certificates from time to time submitted by the Company hereunder; provided that the adequacy of the amounts established by the Company for the applicable exposure under a Hedging Agreement shall be subject to review and approval by the Majority Banks and each affected Bank, from time to time at the request of such Banks.
Hedging Reserve means a Reserve determined by the Collateral Agent in its reasonable credit judgment and giving effect to the aggregate amount owing by Borrower or the applicable Borrowing Base Guarantor to a counterparty to a Specified Hedging Agreement, less the amount such counter-party owes Borrower or the applicable Borrowing Base Guarantor, as applicable, thereunder, less the aggregate amount of Property pledged to cash collateralize such obligation (other than the Collateral granted under the Loan Documents), in each case based on a ▇▇▇▇-to-market analysis and with due regard to recent market volatility as of the last Business Day of the month (or if not available, the nearest prior Business Day for which such evaluation is available).
Hedging Reserve means, as of any date of determination, an amount determined by Agent in its reasonable credit judgment to reflect as of such date, the aggregate termination values of (i) all Hedging Agreements then in effect which constitute Hedging Obligations and (ii) all Swap Related Reimbursement Obligations, in the event such Hedging Agreements or the relevant hedging arrangement with respect to any Swap Related Reimbursement Obligations were to be terminated on such date after taking into account the effect of any legally enforceable netting agreement relating to such Hedging Agreements or any such hedging agreement related to a Swap Related Reimbursement Obligation.
Examples of Hedging Reserve in a sentence
The Borrower Representative may from time to time (i) reduce or eliminate the amount of any Cash Management Reserve or Designated Hedging Reserve by delivering to the Security Agents a notice of such reduction or elimination or (ii) increase the amount of any Cash Management Reserved by notice in writing to the Security Agents so long as in the case of this clause (ii), immediately after giving effect to such increase, Availability would be not less than zero.
State Street will, upon payment of all sums due to State Street from Fund hereunder or otherwise, deliver at State Street's office (i) all accounts and records to the successor investment accounting and recordkeeping agent or, if none, to Fund; and (ii) all Assets, duly endorsed and in form for transfer, to the successor custodian, or as specified by the court.
The Administrative Agent agrees to give the Company ten (10) Business Days' prior notice of the establishment of any such reserve (other than the Hedging Reserve and Grower Payable Reserve).
The number of Hedging Reserve Shares to be purchased and sold, the price to be paid by the Underwriter to the Share Borrower for the Hedging Reserve Shares to be purchased and the time for delivery of and payment for any Hedging Reserve Shares shall be mutually agreed between the Share Borrower and the Underwriter.
Hedging Reserve The hedging reserve comprises the cumulative net change in the value of hedging instruments used in cash flow ▇▇▇▇▇▇ pending subsequent recognition in profit or loss as the hedged cash flows affect profit or loss.
More Definitions of Hedging Reserve
Hedging Reserve means any reserve established by the Administrative Agent in its Reasonable Credit Judgment in respect of Hedging Obligations based upon the credit exposure of any Hedge Banks to a Borrower in respect of Hedging Obligations, as notified by such Hedge Bank in writing to the Administrative Agent.
Hedging Reserve means a reserve established by the Administrative Agent in its Reasonable Credit Judgment in respect of Hedging Obligations based upon the credit exposure of any Hedge Banks to any Loan Party in respect of any Hedging Obligations, as notified by such Hedge Bank in writing to the Administrative Agent; provided that (x) the maximum amount of Hedging Reserves in respect of each Hedge Bank shall not exceed the lesser of (i) the actual credit exposure of such Hedge Bank to the Loan Parties and (ii) the aggregate Designated Amounts with respect to such Hedge Bank and (y) the aggregate maximum amount of Hedging Reserves shall in no event exceed the lesser of (i) $25,000,000 and (ii) the actual credit exposure of all Hedge Banks to the Loan Parties.
Hedging Reserve means a reserve determined by the Administrative Agent in its reasonable credit judgment and giving effect to the aggregate amount owing to Loan Parties by a counterparty to a Hedging Agreement, less the amount the applicable Loan Party owes such counterparty thereunder, less the aggregate amount of Property pledged to cash collateralize such obligation (other than the Collateral granted under the Loan Documents), in each case valued on a ▇▇▇▇-to-market basis as of the last Business Day of the month (or if not available, the nearest prior Business Day for which such evaluation is available). The Administrative Agent shall endeavor to provide the Borrower with no less than two (2) Business Days prior notice of any such Hedging Reserve; provided that the failure to provide such notice shall not affect the application of such Hedging Reserve.
Hedging Reserve means any reserve established by the Administrative Agent (or, during a Co-Collateral Agent Period, the Administrative Agent and the Co-Collateral Agents) in its Reasonable Credit Judgment in respect of Hedging Obligations based upon the credit exposure of any Hedge Banks to a Borrower in respect of Hedging Obligations, as notified by such Hedge Bank in writing to the Administrative Agent with a copy to the Co-Collateral Agents.
Hedging Reserve means all reserves which the Agent from time to time establishes in its reasonable credit judgment for Hedging Agreements then provided or outstanding which shall, at all times, be at least an amount that is equal to all Hedging Exposure in respect to such Hedging Agreements outstanding.
Hedging Reserve means a reserve under the Borrowing Base Limitation equal to the lesser of (i) One Million Dollars ($1,000,000) and (ii) the aggregate amount of Net Hedging Obligations outstanding from time to time (determined in the manner set forth herein) maintained by the Company for the benefit of those Banks or their Affiliates which provide Hedging Agreements to the Company, any Domestic Subsidiary or a Permitted Borrower under or in connection with this Agreement, and allocated to such Banks or their Affiliates in the amounts so determined and reported by the Company in its quarterly Borrowing Base Certificates or any updated Borrowing Base Certificates from time to time submitted by the Company hereunder; provided that the adequacy of the amounts established by the Company for the applicable exposure under a Hedging Agreement shall be subject to review and approval by the Majority Banks and each affected Bank, from time to time at the request of such Banks.
Hedging Reserve means a reserve determined by the Co-Collateral Agents in their Permitted Discretion and giving effect to the aggregate amount owing to the applicable Borrower by a counterparty to a Hedging Agreement, less the amount the applicable Borrower owes such counterparty thereunder, less the aggregate amount of Property pledged to cash collateralize such obligation (other than the Collateral granted under the Loan Documents), in each case valued on a ▇▇▇▇-to-market basis as of the last Business Day of the month (or if not available, the nearest prior Business Day for which such evaluation is available).