Secured Hedging Counterparty definition
Examples of Secured Hedging Counterparty in a sentence
If any such Secured Hedging Counterparty defaults or becomes unable to perform due to insolvency or otherwise, the Issuer may not receive payments it would otherwise be entitled to from such Secured Hedging Counterparty to cover its foreign exchange exposure.
The Borrower hereby authorizes each Secured Hedging Counterparty party to a Secured Hedging Support Document to receive confidential and other information from the counterparty to the Hedging Agreement supported by such Secured Hedging Support Document in respect of such Hedging Agreement, Secured Hedging Support Document, or otherwise in respect of the Borrower and its Affiliates.
Each determination of an interest rate or the amount of a fee hereunder shall be made by the Administrative Agent (including determinations of a Eurodollar Rate or Base Rate in accordance with the definitions of “Eurodollar Rate” and “Base Rate”, respectively) or, if applicable in the case of the Eurodollar Rate used to determine interest on Secured Hedging Reimbursement Obligations, the applicable Secured Hedging Counterparty shall be conclusive and binding for all purposes, absent manifest error.
Consequently, the Issuer will be subject to the credit risk of such Secured Hedging Counterparty as well as that of the Issuer Investments.
None of Parent, the Borrower, any L/C Issuer or any Agent (except to a successor Agent named pursuant to Section 10.7 or otherwise to facilitate a transaction contemplated by such Section 10.7) shall have the right to assign any rights or obligations hereunder or any interest herein; provided, that each Secured Hedging Counterparty may assign its rights and interests in, but not its obligations under, Secured Hedging Support Provisions.