Permitted Swap Agreements definition
Permitted Swap Agreements has the meaning assigned to such term in Section 6.05.
Permitted Swap Agreements means any interest rate Hedging Agreement (a) in form, structure (including approval of each counterparty) and substance, in each case, acceptable to Administrative Agent in its sole discretion, (b) that together with all rights thereunder have been pledged as Collateral to the Collateral Agent, for the benefit of the Secured Parties, pursuant to documentation in form and substance satisfactory to Administrative Agent, (c) that is unsecured, or secured by assets other than Collateral or assets of any Loan Party or any Funded Subsidiary and (d) that provides that all payments to be made under such Hedge Agreement to or for the benefit of any Loan Party will be paid directly to the Revenue Account pursuant to documentation in form and substance satisfactory to Administrative Agent.
Permitted Swap Agreements means (a) Swap Agreements entered into for the purpose of fixing, hedging or swapping interest rate, commodity price or foreign currency exchange rate risk (or to reverse or amend any such agreements previously made for such purposes), and not for speculative purposes, and (b) other Swap Agreements entered into in the ordinary course of business to hedge or mitigate risks to which the Issuer or any of its Subsidiaries is exposed in the conduct of its business or the management of its liabilities, and not for speculative purposes.
Examples of Permitted Swap Agreements in a sentence
At any time, the Borrower shall maintain in full force and effect Permitted Swap Agreements (in form and substance satisfactory to the Administrative Agent) for no less than fifty percent (50%) of the aggregate principal amount of all Term Loans then outstanding.
In addition, the Borrower may, from time to time, be obligated to various of said Lenders (or their Affiliates) in respect of Permitted Swap Agreements (as defined in the Credit Agreement).
The Borrower shall have no Interest Rate Protection Agreements except Permitted Swap Agreements with Permitted Swap Providers.
No later than 30 Business Days after the Closing Date, the Borrower shall enter into, and at all times thereafter maintain in full force and effect, one or more Permitted Swap Agreements mitigating interest rate risks as to a notional principal amount at least equal to 75% but no more than 100% of the anticipated aggregate principal amount of the Term Loans projected to be outstanding on the Conversion Date.
Such Permitted Swap Agreements shall be documented pursuant to customary International Swaps and Derivatives Association (ISDA) agreements, and shall be otherwise satisfactory in form and substance to the Administrative Agent, acting reasonably.
More Definitions of Permitted Swap Agreements
Permitted Swap Agreements means any interest rate Hedging Agreement between the Borrower and a Person that is a Permitted Swap Counterparty at the time that such interest rate Hedging Agreement is entered into by, or assigned, to such Person; provided that an Initial Hedge shall not constitute a Permitted Swap Agreement under this Agreement or any of the other Financing Documents.
Permitted Swap Agreements means any interest rate Hedging Agreement between the Borrower and a Person that is a Permitted Swap Counterparty at the time that such interest rate Hedging Agreement is entered into by, or assigned, to such Person.
Permitted Swap Agreements means any interest rate Hedging Agreement (a) in form, structure, and substance acceptable to the Administrative Agent in its sole discretion, (b) that together with all rights thereunder, has been pledged on a first Lien priority basis as Collateral to the Collateral Agent, for the benefit of the Secured Parties, pursuant to documentation in form and substance reasonably satisfactory to Administrative Agent, (c) that if secured, is secured by either (i) assets other than Collateral, other than assets of any Loan Party, or other than assets of any Subject Fund or (ii) solely if the counterparty is a Lender hereunder at the time such Hedging Agreement is entered into, Collateral on a pari-passu basis with the security interests of the other Secured Parties in such Collateral (or on a subordinated basis with respect to the security interests of the other Secured Parties), (d) pursuant to which such counterparty agrees that if it ceases to be a Lender hereunder during the term of such hedging transaction for any reason, such counterparty shall make commercially reasonable efforts to assign such Hedging Agreement and all of its rights and obligations thereunder to a Lender hereunder for fair market consideration, (e) that shall solely hedge the interest rate exposure of the Borrower under this Agreement, and (f) that provides that all payments to be made under such Hedge Agreement to or for the benefit of any Loan Party will be paid directly to the Revenue Account pursuant to documentation in form and substance reasonably satisfactory to Administrative Agent. [***] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION.
Permitted Swap Agreements means any Hedging Agreement (a) that is entered into by and between the Borrower and an entity that is a Swap Counterparty as of the date of such Hedging Agreement, (b) pursuant to which such counterparty agrees that if it ceases to be a Lender or an Affiliate of a Lender hereunder during the term of such hedging transaction for any reason, such counterparty shall make commercially reasonable efforts to assign such Hedging Agreement and all of its rights and obligations thereunder to a Lender hereunder or an Affiliate of a Lender for fair market consideration, (c) that shall solely hedge the interest rate exposure of the Borrower under this Agreement, (d) that provides that all payments to be made under such Hedge Agreement to or for the benefit of any Loan Party will be paid directly to the Revenue Account, (e) that, if secured, is secured by Collateral on a pari passu basis with the security interests of the other Secured Parties in such Collateral, and (f) that does not benefit from any credit support other than (i) the Collateral and the Guarantees of the Guarantors and (ii) the Credit Support Document(s) (as defined therein) supporting the obligations of any Swap Counterparty, if any. [***] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND FILED SEPARATELY WITH THE COMMISSION.
Permitted Swap Agreements. (a) Swap Agreements pursuant to which the Borrower acquires a call or a capped call option requiring the counterparty thereto to deliver to the Borrower shares of common stock of the Borrower, the cash value of such shares or a combination thereof from time to time upon exercise of such option and (b) if entered by the Borrower in connection with any Swap Agreement described in clause (a) above, Swap Agreements pursuant to which the Borrower issues to the counterparty thereto warrants to acquire common stock of the Borrower, in each case under clauses (a) and (b), entered into by the Borrower substantially concurrently with the issuance of Permitted Convertible Notes; provided that (i) the terms, conditions and covenants of each such Swap Agreement shall be such as are typical and customary for Swap
Permitted Swap Agreements means a Swap Agreement to which the Pledgor is a party that is permitted pursuant to Section 9.17 of the Credit Agreement.
Permitted Swap Agreements means a Swap Agreement to which any Grantor is a party that is permitted pursuant to Section 9.17 of the Credit Agreement.