Permitted Hedge means a transaction entered into or maintained by a Beneficiary for the purpose of mitigating any or all of the economic risk of owning either the Trust Shares or any security the value of which is principally related to the Trust Shares, so long as the following conditions are satisfied:
(i) pursuant to such transaction, such Beneficiary may not Transfer or, without the right to settle such obligation on a monetary basis, be required to Transfer, directly or indirectly, any Trust Shares (or, in the event the restrictions in Section 3.08(c) remain applicable, shares or other securities with respect to which the Beneficiary would be required to exercise conversion or exchange rights pertaining to Trust Shares);
(ii) pursuant to such transaction, no Third Party Transferee (as defined hereafter) may have the right to acquire, directly or indirectly, or cause the Transfer of any Trust Shares (or, in the event the restrictions in Section 3.08(c) remain applicable, shares or other securities with respect to which the Beneficiary would be required to exercise conversion or exchange rights pertaining to Trust Shares), except a Transfer that constitutes a Permitted Encumbrance; and
(iii) the Beneficiary creating such Encumbrance shall have delivered to the Trustee and each Continuing Representative such information as is necessary to evidence compliance with the foregoing conditions (including but not limited to a legal opinion which confirms compliance with the foregoing conditions);
Permitted Hedge means a transaction entered into or maintained by a Beneficiary for the purpose of mitigating any or all of the economic risk of owning either the Trust Shares or any security the value of which is principally related to the Trust Shares, so long as the following conditions are satisfied:
(i) pursuant to such transaction, such Beneficiary may not Transfer or, without the right to settle such obligation on a monetary basis, be required to Transfer, directly or indirectly, any Trust Shares (or, in the event the restrictions in Section 3.08 remain applicable, shares or other securities with respect to which the Beneficiary would be required to exercise conversion or exchange rights pertaining to Trust Shares);
(ii) pursuant to such transaction, no Third Party Transferee may have the right to acquire, directly or indirectly, or cause the Transfer of any Trust Shares (or, in the event the restrictions in Section 3.08 remain applicable, shares or other securities with respect to which the Beneficiary would be required to exercise conversion or exchange rights pertaining to Trust Shares), except a Transfer that constitutes a Permitted Encumbrance; and
(iii) the Beneficiary creating such Encumbrance shall have delivered to the Trustee and each Continuing Representative such information as is necessary to evidence compliance with the foregoing conditions (including but not limited to a legal opinion which confirms compliance with the foregoing conditions);
Permitted Hedge means (i) any back-to-back Hedge between WPC or any of its Subsidiaries and the Counterparty or any of its Subsidiaries that matches in all material respects (other than price) any Qualifying Hedge entered into by the Counterparty at the request of WPC or a Subsidiary of WPC if (a) such back-to-back Hedge is changed each time such Qualifying Hedge is changed (whether such Qualifying Hedge is changed by amendment, termination or otherwise, but excluding changes related to price) and (b) all obligations of each Credit Party under such back-to-back Hedge are Subordinated Intercompany Obligations, and (ii) any WPX Hedge.
Examples of Permitted Hedge in a sentence
Upon the termination of the commitment of the Lender under Section 2.01(a) to make Loans and the indefeasible payment in full in Cash of all of the Secured Obligations and any other obligations and liabilities of the Borrower and the Guarantors to any Permitted Hedge Counterparty under any Permitted Interest Rate Hedge, this Loan Agreement shall terminate (other than any provisions hereof expressly stated to survive termination).
The Borrower shall not enter into any Hedge Agreements other than (a) Permitted Hedge Agreements and (b) transactions in futures, floors, collars and similar Hedge Agreements involving the stock price of a Person involved in a merger transaction permitted by Section 7.2.
The Trustee agrees that the Trustee will not permit or create any Encumbrance upon any Trust Shares, except pursuant to a Permitted Encumbrance or a Permitted Hedge.
The Borrower shall not enter into any hedge agreements other than Permitted Hedge Agreements.
The provisions of this Section shall survive the execution and delivery of this Agreement, the repayment of any of the Secured Obligations, the termination of the Commitments and the termination or expiration of all Letters of Credit under the Credit Agreement, the termination of this Agreement or any other Credit Document, and the termination of, and settlement of the Borrower’s obligations under, any Permitted Hedge Agreement to which any Hedge Party is a party.
More Definitions of Permitted Hedge
Permitted Hedge means a transaction entered into or maintained by a Beneficiary for the purpose of mitigating any or all of the economic risk of owning either the Trust Shares or any security the value of which is principally related to the Trust Shares, provided that a Permitted Hedge shall not include (i) a transaction in which such Beneficiary may be required to Transfer, without the right to settle such obligation on a monetary basis, or does Transfer, directly or indirectly, any Trust Shares (or securities convertible into or exchangeable for any Trust Shares) to a Third Party Transferee or (ii) a transaction (including a pledge) in which any Third Party Transferee may have the right to acquire, directly or indirectly, any Trust Shares or securities convertible into or exchangeable for any Trust Shares);
Permitted Hedge means an equity derivative contract, including a prepaid or other forward sale of securities, or other agreement to transfer an interest in Covered Shares, between a Stockholder and a counterparty, provided that such counterparty executes and delivers to TD a Joinder Agreement with respect to the securities which are the subject of such equity derivative contract or other agreement; provided, further, in the case of any Permitted Hedge involving a Transfer to the Rxxxxxxx Grandchildren Trust, that such Transfer is not part of a plan to avoid the provisions of Section 2.3 with respect to the Transferring party.
Permitted Hedge any Swap Agreement permitted by Section 6.10.
Permitted Hedge means a transaction entered into or maintained by a Beneficiary for the purpose of mitigating any or all of the economic risk of owning either the Trust Shares or any security the value of which is principally related to the Trust Shares, so long as the following conditions are satisfied:
Permitted Hedge has the meaning set forth in Appendix II.
Permitted Hedge means any Hedge entered into by or on behalf of Oaktree (or any other member of the Oaktree Group) with respect to any particular period of time and any particular JV Interests that (a) covers production of Hydrocarbons attributable to such period of time attributable to not more than eighty- five percent (85%) of Oaktree’s forecasted production volumes attributable to the Oaktree Initial Interest or Oaktree Reversionary Interest, as applicable (as applicable, the “Oaktree Interest”), in and to the PDP Reserves included in such JV Interests based upon Oaktree’s then most-recent good faith forecast of such production volumes from or attributable to such JV Interests and attributable to such period of time (as applicable, the “Production Forecast”) and (b) otherwise complies in all material respects with the applicable provisions of this Appendix II.
Permitted Hedge means an equity derivative contract, including a prepaid or other forward sale of securities, or other agreement to transfer an interest in Covered Shares, between a Stockholder and a counterparty, provided that such counterparty executes and delivers to TD a Joinder Agreement with respect to the securities which are the subject of such equity derivative contract or other agreement; provided, further, in the case of any Permitted Hedge involving a Transfer to the Ricketts Grandchildren Trust, that such Transfer is not part of a plan to avoid the provisions of Section 2.3 with respect to the Transferring party.