Required Currency Hedge definition

Required Currency Hedge means one or more foreign currency instruments including currency options, currency hedges and similar items, acceptable to the Administrative Agent, exe▇▇▇▇▇▇le at any time, with an Eligible Counterparty providing for the delivery by such Eligible Counterparty of United States dollars in exchange for the receipt of Canadian Dollars, in each case having a remaining term at any time of not less than five (5) months.
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Examples of Required Currency Hedge in a sentence

  • The Transferor agrees that at any time that it enters into any Required Currency Hedge, it shall have funds available to make payment of fees or other amounts due in connection with the purchase of such Required Currency Hedge at the time that such payments are due and payable thereunder.

  • The Transferor agrees that it will enter into any Required Currency Hedge only on a Weekly Settlement Date or on the Closing Date.

  • MRFC agrees that at any time that it enters into any Required Currency Hedge, it shall have funds available to make payment of fees or other amounts due in connection with the purchase of such Required Currency Hedge at the time that such payments are due and payable thereunder.

  • Subject to the penultimate paragraph in this Section 2.27, the Collection Agent shall solicit offer quotations from at least two Authorized Foreign Exchange Dealers for effecting such exchange and shall compare such offer quotations to the Required Currency Hedge and select the execution which will require the least amount of Canadian Dollars to purchase one (1) U.S. Dollar.

  • MRFC agrees that it will enter into a Required Currency Hedge only on a Settlement Date or on the Closing Date.

  • This Required Currency Hedge Assignment and the covenants set forth herein shall be binding upon and inure to the benefit of the Transferor, the Administrative Agent, the Funding Agents, the CP Conduit Purchasers and the Committed Purchasers, respectively, and their respective successors and permitted assigns.

  • Subject to the last paragraph in this Section 2.19, the Collection Agent shall solicit offer quotations from at least two Authorized Foreign Exchange Dealers for effecting such exchange and shall compare such offer quotations to the Required Currency Hedge and select the execution which will require the least amount of Canadian Dollars to purchase one (1) U.S. Dollar.

  • The Transferor shall deliver to the Collection Agent and the Collection Agent shall hold in trust for the Transferor, the Administrative Agent, the Initial Purchasers, each Funding Agent and the PARCO APA Banks, in accordance with their respective interests, all Records which evidence or relate to Receivables, Related Security, the Required Currency Hedge or Collections.

  • Subject to the last paragraph in this Section 3.1(i), the Servicer shall solicit offer quotations from at least two Authorized Foreign Exchange Dealers for effecting such exchange and shall compare such offer quotations to the Required Currency Hedge and select the execution which will require the least amount of Canadian Dollars to purchase one (1) U.S.

  • The Transferor has entered into this Agreement with the intention that, for Federal, State and local income, single business and franchise tax purposes, the Incremental Transfers will qualify as indebtedness of the Transferor secured by the Receivables, Related Security, the Required Currency Hedge, Collections and Proceeds with respect thereto.