Permitted Hedging definition
Permitted Hedging has the meaning given to such term in Paragraph 17 (Hedging) of Schedule H (General Undertakings).
Permitted Hedging means Financial Instruments:
Permitted Hedging means non-speculative hedging of currency, interest rate and commodity risks.
Examples of Permitted Hedging in a sentence
Each of the Parties hereto agrees to deliver to the Intercreditor Agent executed counterparts of any Permitted Hedging Instrument or any Senior Debt Instrument relating to Replacement Debt, Project Phase 2 Development Debt, Working Capital Debt, Permitted Internal Expansion Debt, Permitted Relevering Debt, Permitted Completion Senior Debt, PDE Senior Debt, Restoration Debt and of any instrument amending or modifying any agreement previously delivered to the Intercreditor Agent.
More Definitions of Permitted Hedging
Permitted Hedging. Instrument” means (a) each Initial Permitted Senior Debt Hedging Instrument; (b) each Upsize Permitted Senior Debt Hedging Instrument or (c) a Hedging Instrument entered into by the Borrower in the ordinary course of business, including any Hedging Instrument entered into in connection with forward sale or factoring contracts related to Pre-Completion Revenues, and that (i) is with a Hedging Bank, a Gas Hedge Provider or any other party that is a counterparty to a Hedging Instrument, and (ii) is entered for non-speculative purposes and is on arm’s-length terms; provided that if such Hedging Instrument is a Gas Hedging Instrument, it is for a period not to exceed the three prompt month contracts (or in the case of Basis Swaps, thirty six months) and the aggregate quantum under all (1) Futures Contracts, Fixed-Floating Futures Swaps, NYMEX Natural Gas Futures Contracts and Swing Swaps does not exceed 207.5 TBtu of gas utilizing intra-month and up to 24 prompt month contracts, (2) Index Swaps does not exceed 98.8 TBtus per month of gas utilizing up to 24 prompt month contracts, and (3) Basis Swaps does not exceed 98.8 TBtu per month with a tenor up to 60 months, where the limitations in each of the categories described in sub-clauses (1), (2) and (3) are not aggregated. “Permitted Hedging Instrument” includes any “Permitted Senior Debt Hedging Instrument.” For the avoidance of doubt, each Anticipatory Hedge shall constitute (i) a Permitted Hedging Instrument and (ii) upon the relevant counterparty acceding to the Common Security and Account Agreement, a Permitted Senior Debt Hedging Instrument, in each case for all purposes hereunder and under the other Transaction Documents. As used in the preceding sentence, “Anticipatory Hedge” means any interest rate transaction between a Hedging Bank and Venture Global LNG, Inc. or the Borrower entered into prior to the Initial Closing Date, and any Hedging Instrument entered into between a Hedging Bank and the Borrower, which results from an assignment, novation, participation, or any other conveyance or transfer of an Anticipatory Hedge (including any restructuring thereof or offsetting transactions related thereto) to the Borrower.
Permitted Hedging means any obligation of any Group Company under a derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price in the ordinary course of business and not for speculative purposes.
Permitted Hedging means Financial Instruments entered into by the Borrower and its Subsidiaries:
Permitted Hedging means Financial Instruments which are entered into in the ordinary course of business and for hedging purposes and not for speculative purposes (determined, where relevant, by reference to GAAP); provided that Commodity Agreements entered into for hedging purposes shall not exceed 80% of the estimated production of Petroleum Substances during the immediately following 12 month period from the proved developed producing properties of the Loan Parties as reflected in the most recent Engineering Report delivered pursuant to Section 5.01(e).
Permitted Hedging means any non-speculative hedging by an Obligor in its ordinary course of business, provided that the Financial Indebtedness outstanding thereunder does not exceed USD 10,000,000 (or the equivalent in other currencies).
Permitted Hedging means any non-speculative secured or unsecured hedging of interest, currency and commodity risks or other similar derivative transactions including, without limitation, swaps, forward contracts, call options and put options in whatever form.
Permitted Hedging means non-speculative Hedging Agreements and Commodity Agreements entered into by the Borrower or a Restricted Subsidiary in the ordinary course of business; provided that such hedging or purchases do not exceed the anticipated commodity inputs (in the case of commodity hedging and purchases), the anticipated indebtedness for borrowed money (in the case of interest rate hedging) or the anticipated revenue (in the case of currency hedging) and further provided that the Huntsman Preferred Stock Obligations shall be included as Permitted Hedging.