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

• Irish Holdco and the Borrower will not, and will not permit any of their Restricted Subsidiaries to, enter into any Swap Agreement, except Permitted Equity Derivatives and Swap Agreements in respect of Permitted Hedging Obligations.

• The Borrower shall not enter into any Hedging Agreements other than Permitted Hedging Agreements, and in the case of the Interest Rate Protection Agreements, with a Qualified Counterparty.

• Upon the complete payment of the Obligations, the termination of the Letters of Credit, Permitted Hedging Agreements secured hereby, Credit Agreement and the Aggregate Commitments and the compliance by the Grantors with all covenants and agreements hereof, the Administrative Agent, at the written request and expense of the Borrower, will promptly release, reassign and transfer the Collateral to the Grantors and declare this Agreement to be of no further force or effect.

• The guarantee contained in this Article II shall remain in full force and effect until all the Obligations shall have been satisfied by payment in full, no Letter of Credit shall be outstanding and all Permitted Hedging Agreements secured hereby and the Credit Agreement and the Aggregate Commitments shall be terminated, notwithstanding that from time to time during the term of the Credit Agreement, no Obligations may be outstanding.

• The obligations of the parties under Section 10.03 shall survive the repayment of the Loans and the termination of the Letters of Credit, Permitted Hedging Agreements, Credit Agreement and Aggregate Commitments.

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 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 at all times: (a) no such contract requires the Company or its Subsidiaries to put up money, assets or other security (excluding unsecured letters of credit and, to the extent expressly permitted under the Second Lien Credit Agreement, Collateral (as defined in the Second Lien Credit Agreement) under the Collateral Documents (as defined in the Second Lien Credit Agreement) or collateral under the First Lien Credit Agreement) against the event of its nonperformance prior to actual default by the Company or its Subsidiaries in performing its obligations thereunder and (b) each such contract is with a counterparty or has a guarantor of the obligation of the counterparty who at the time the contract is made is rated at least A- by Standard and Poor’s Rating Group or A3 by Moody’s Investor Services, Inc.

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.