Permitted Swap Indebtedness definition

Permitted Swap Indebtedness means Swap Indebtedness of any Loan Party to a Swap Lender under a Permitted Swap and for which the only security is the Security;
View Source
Permitted Swap Indebtedness means Swap Indebtedness permitted by the provisions of Sections 12.3(c), 12.3(d), 12.3(e) and 12.3(f), provided that if a Swap Lender does not have actual knowledge that such Swap Indebtedness was not permitted under such Section at the time the applicable Hedging Agreement was entered into by such Swap Lender, then such Swap Indebtedness will be deemed to be a Permitted Swap Indebtedness for purposes of Section 13.3.
View Source
Permitted Swap Indebtedness means the actual indebtedness or obligations of any Loan Party pursuant to Permitted Swaps, provided that, in respect of Swap Indebtedness, if a Swap Lender does not have actual knowledge that Swap Indebtedness was not permitted under such Section at the time the applicable Hedging Agreement was entered into by such Swap Lender, then the applicable Swap Indebtedness will be deemed to be a Permitted Swap Indebtedness for purposes of Section 14.5, and for such purpose each Swap Lender shall be entitled to conclusively rely upon the representation of the applicable Loan Party that such Swap Indebtedness was permitted under this Agreement.
View Source

Examples of Permitted Swap Indebtedness in a sentence

  • The parties agree that all Cash Management Obligations and Creditcard Obligations shall be secured by the Security and shall rank, as to the Security, pari passu with the Syndicated Borrowings, the Operating Borrowings and the Permitted Swap Indebtedness, notwithstanding that they do not form part of the Syndicated Borrowings and Operating Borrowings.

  • All Swap Indebtedness of a Loan Party to any Swap Lender, other than Permitted Swap Indebtedness, shall, as to the Security, rank junior and be subordinate in every respect to the Syndicated Borrowings, the Operating Borrowings, the Permitted Swap Indebtedness, the Cash Management Obligations and the Creditcard Obligations.

  • Notwithstanding the foregoing or the provisions of any Swap, the Lenders and Swap Lenders shall not effect or purport to effect any set-off of Swap Indebtedness that is not Permitted Swap Indebtedness against or on account of any Secured Obligations owed to it.

  • All Permitted Swap Indebtedness shall, as to the Security, rank pari passu with the Syndicated Borrowings, the Operating Borrowings, the Cash Management Obligations and the Creditcard Obligations.

  • All Swap Indebtedness (other than Permitted Swap Indebtedness and Excluded Swap Obligations) shall, as‌ to the Security, rank junior and be subordinate in every respect to the Borrowings, all obligations of the Loan Parties in respect of Cash Management Services and the Permitted Swap Indebtedness.

  • The parties agree that all Swap Indebtedness (other than Excluded Swap Obligations) shall be secured by the Security and all Permitted Swap Indebtedness (other than Excluded Swap Obligations) shall, as to the Security, rank pari passu with the Borrowings and all obligations of the Loan Parties arising in respect of Cash Management Services.


More Definitions of Permitted Swap Indebtedness

Permitted Swap Indebtedness means Swap Indebtedness permitted by the provisions of Section 13.3(b), (c), (d) and (e), provided that if a Swap Lender does not have actual knowledge that such Swap Indebtedness was not permitted under such Section at the time the applicable Hedging Agreement was entered into by such Swap Lender, then such Swap Indebtedness will be deemed to be a Permitted Swap Indebtedness for purposes of Section 16.4.
View Source