Permitted Swap Contract definition

Permitted Swap Contract means any Swap Contract by Borrower to provide protection against fluctuations in interest or currency exchange rates in the Ordinary Course of Business for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets, or property held or reasonably anticipated by such Person and not for purposes of speculation but only to the extent Administrative Agent provides its prior written consent to the entry into such Swap Agreement.

Permitted Swap Contract means any Swap Contract entered into in accordance with the terms and provisions of Section 8.17.

Permitted Swap Contract means shall mean any Swap Contract entered into in accordance with the terms and provisions of Section 7.17.

Examples of Permitted Swap Contract in a sentence

• Create, incur, assume or permit to exist any Indebtedness except (a) Indebtedness owed to the Lenders hereunder; (b) Indebtedness secured by Permitted Liens; (c) Subordinated Debt; (d) Indebtedness permitted under section 6.7(e); and (e) Indebtedness arising in connection with a Permitted Swap Contract.

• Upon failure by the Principal to pay punctually any such amount, each of the Guarantors agrees that it shall forthwith on demand pay to the Agent for the benefit of the Lenders and, if applicable, their Affiliates, the amount not so paid at the place and in the manner specified in the Credit Agreement, any Note, any Permitted Swap Contract or the other relevant Loan Document, as the case may be.

• If acceleration of the time for payment of any of the Guaranteed Obligations is stayed upon the insolvency, bankruptcy or reorganization of the Principal, all such amounts otherwise subject to acceleration under the terms of the Credit Agreement, any Note, any Permitted Swap Contract or any other Loan Document shall nonetheless be payable by each of the Guarantors hereunder forthwith on demand by the Agent made at the request of the Majority Lenders.

• This Guaranty is for the benefit of the Agent and the Lenders and their respective successors and permitted assigns and in the event of an assignment of any amounts payable under the Credit Agreement, any Note, any Permitted Swap Contract, or the other Loan Documents, the rights hereunder, to the extent applicable to the indebtedness so assigned, shall be transferred with such indebtedness.

• Each of the Guarantors covenants that, so long as any Lender has any commitment outstanding under the Credit Agreement, any Note remains unpaid, any Permitted Swap Contract remains in effect or any of the other Guaranteed Obligations shall remain unpaid, that it will, and, if necessary, will enable the Principal to, fully comply with those covenants and agreements set forth in the Credit Agreement.

More Definitions of Permitted Swap Contract

Permitted Swap Contract means any Swap Contract entered into by the Borrower or any Subsidiary for which each of the following conditions is satisfied: (a) such contract is (or was) entered into by such Person in the Ordinary Course of Business for the purpose of directly

Permitted Swap Contract means any Swap Contract entered into in the ordinary course of business constituting (a) interest rate protecting agreements and/or other types of interest rate hedging agreements, (b) foreign exchange contracts, currency swap agreements or similar agreements or arrangements designed to protect against fluctuations on currency values, relating to (i) Indebtedness of the Borrower and/or any Restricted Subsidiary and/or (ii) obligations to purchase or sell assets or properties; provided, however, that Swap Contracts subject to this clause (b) shall not increase the Indebtedness or other obligations of the Borrower or any Restricted Subsidiary outstanding other than as a result of fluctuations in foreign currency exchange rates or by reason of fees, indemnities and compensation payable thereunder, or (c) forward contracts, commodity swaps, commodity options or other similar financial agreement or arrangement relating to, or the value of which is dependent upon, fluctuations in commodity prices, which shall not increase the amount of Indebtedness or other Obligations of the Borrower or any Restricted Subsidiary outstanding other than as a result of fluctuations in commodity prices or by reason of fees, indemnities and compensation payable thereunder.

Permitted Swap Contract means shall mean any Swap Contract entered into in accordance with the terms and provisions of Section 7.17. “Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental

Permitted Swap Contract means any Swap Contract entered into by the Company or any Subsidiary for which each of the following conditions is satisfied: (a) such contract is (or was) 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 (including any Swap Contract entered into by the Company or any Subsidiary for the purpose of hedging interest rate risk arising in connection with the Obligations (a "Specified Swap Contract")), or with 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"; and (b) such Swap Contract does not contain: (i) any provision (a "walk-away" provision) exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party, or (ii) with respect to any Swap Contract that it is not a Specified Swap Contract, any provision creating or permitting the declaration of an event of default, termination event, or similar event upon the occurrence of an Event of Default hereunder (other than an Event of Default under Section 8.01(a)).

Permitted Swap Contract means any Swap Contract entered into in accordance with the terms and provisions ofSection 8.17.

Permitted Swap Contract means an interest rate Swap Contract intended to hedge the Borrower’s exposure to changes in interest rates on the Loans.

Permitted Swap Contract means any Swap Contract entered into by the Company or any Subsidiary for which each of the following conditions is satisfied: (a) such contract is (or was) entered into by such Person in the ordinary course of business for the purpose of directly mitigating the risks associated with liabilities, commitments or assets held or reasonably anticipated by such Person, or with 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"; and (b) such Swap Contract does not contain: (i) any provision (a "walk-away" provision) exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party, or (ii) any provision creating or permitting the declaration of an event of default, termination event, or similar event upon the occurrence of an Event of Default hereunder (other than an Event of Default under Section 8.01(a)).