Permitted Hedge Obligations definition
Permitted Hedge Obligations means any and all present and future amounts, obligations and liabilities, contingent or otherwise, of the Borrower and its Subsidiaries under, collectively, all Permitted Commodity ▇▇▇▇▇▇ and all Permitted Interest ▇▇▇▇▇▇.
Permitted Hedge Obligations means obligations owed by any Loan Party to a Permitted Hedge Provider in connection with a Permitted Hedge.
Permitted Hedge Obligations means all obligations (contingent or otherwise) of Parent or any Subsidiary existing or arising under Hedge Agreements; provided, that such obligations are (or were) entered into by such Person in the Ordinary Course of Business for the purpose of directly mitigating risks associated with liabilities, commitments or assets held or reasonably anticipated by such Person, or changes in the value of securities issued by such Person in conjunction with a securities repurchase program not otherwise prohibited hereunder, and not for purposes of speculation or taking a “market view”.
Examples of Permitted Hedge Obligations in a sentence
Notwithstanding anything to the contrary in this Agreement or any other Loan Document, no provider or holder of any Cash Management Obligations or Permitted Hedge Obligations (other than in their capacities as Agent or Lenders, to the extent applicable) has any individual right to enforce the Guaranty or bring any remedies with respect to any Liens on Collateral granted pursuant to the Loan Documents.
Neither Parent nor any of its Subsidiaries has incurred any outstanding obligations under any Hedge Agreement, other than Permitted Hedge Obligations.
More Definitions of Permitted Hedge Obligations
Permitted Hedge Obligations means all obligations (contingent or otherwise) of Parent or any Subsidiary existing or arising under Hedge Agreements; provided , that such obligations are (or were) entered into by such Person in the Ordinary Course of Business for the purpose of directly mitigating risks associated with liabilities, commitments or assets held or reasonably anticipated by such Person, or changes in the value of securities issued by such Person in conjunction with a securities repurchase program not otherwise prohibited hereunder, and not for purposes of speculation or taking a “market view”.
Permitted Hedge Obligations means, in respect of a Borrower, any Hedge Agreement which is entered into by such Borrower in the ordinary course of business for the purpose of directly mitigating risks associated with Eligible Assets, or changes in the value of Eligible Assets, and not for purposes of speculation or taking a "market view"; provided that:
Permitted Hedge Obligations means any and all obligations and liabilities of the Borrower and its Subsidiaries under, collectively, all Permitted Commodity ▇▇▇▇▇▇, all Permitted Currency ▇▇▇▇▇▇ and all Permitted Interest ▇▇▇▇▇▇. "Permitted Interest Hedge" shall mean any forward contract, futures contract, swap, option or other financial agreement or arrangement (including without limitation caps, floors, collars, puts and similar agreements or any option with respect to any such transaction) relating to, or the value of which is dependent upon, interest rates, entered into by the Borrower with one or more financial institutions or one or more futures exchanges in the ordinary course of business with the purpose and effect of hedging interest rates on a principal amount of the Borrower's Debt that is accruing interest at a variable rate and not for purposes of speculation and not intended primarily as a borrowing of funds, and which are designed to protect the Borrower against fluctuations in interest rates with respect to Debt, provided that at all times: (1) the aggregate notional amount of such contracts never exceeds one hundred (100%) percent of the anticipated outstanding principal balance of the Debt of the Borrower to be hedged by such contracts or an average of such principal balances calculated using a generally accepted method of matching interest swap contracts to declining principal balances; (2) the floating rate index of each such contract generally matches the index used to determine the floating rates of interest on the corresponding Debt of the Borrower to be hedged by such contract; and (3) each such contract shall be either with any Bank or any Affiliate of any Bank (without restriction as to rating), or with a counterparty who (or have a guarantor of the obligation of the counterparty who), at the time the contract is made, has long-term obligations rated AA or Aa2 or better, respectively, by Standard & Poors Corporation or ▇▇▇▇▇'▇ Investors Services, Inc. (or a successor credit rating agency).