Excluded Swap Obligation

Example Definitions of "Excluded Swap Obligation"
Excluded Swap Obligation. Means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) (a) by virtue of such Guarantor's failure for any... reason to constitute an "eligible contract participant" as defined in the Commodity Exchange Act and the regulations thereunder at the time the guarantee of such Guarantor or the grant of such security interest becomes or would become effective with respect to such obligation or liability in respect of a Secured Hedge Agreement or (b) in the case of an obligation or liability in respect of a Secured Hedge Agreement that is required to be cleared pursuant to Section 2(h) of the Commodity Exchange Act (or any successor provision thereto), because such Guarantor is a "financial entity," as defined in Section 2(h)(7)(C)(i) the Commodity Exchange Act (or any successor provision thereto), at the time the guarantee of (or grant of security interest by, as applicable) such Guarantor becomes or would become effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one Swap Agreement, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to Swap Agreements for which such guarantee or security interest is or becomes illegal. View More
Found in Harvest Oil & Gas Corp. contract
Excluded Swap Obligation. Means, with respect to any Guarantor, the Grantor, any Swap Obligation if, and to the extent that, all or a portion of the guarantee of such Guarantor of, or the grant by such Guarantor Grantor of a security interest to secure, secure such Swap Obligation (or any guarantee guaranty thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) (a) by... virtue of such Guarantor's Grantor's failure for any reason to constitute an "eligible contract participant" as defined in the Commodity Exchange Act and the regulations thereunder at the time the guarantee of such Guarantor or the grant of such security interest becomes or would become effective with respect to such obligation or liability in respect of a Secured Hedge Agreement or (b) in the case of an obligation or liability in respect of a Secured Hedge Agreement that is required to be cleared pursuant to Section 2(h) of the Commodity Exchange Act (or any successor provision thereto), because such Guarantor is a "financial entity," as defined in Section 2(h)(7)(C)(i) the Commodity Exchange Act (or any successor provision thereto), at the time the guarantee of (or grant of security interest by, as applicable) such Guarantor becomes or would become effective with respect to such Swap Obligation. Obligation (or guaranty thereof). If a Swap Obligation arises under a master agreement governing more than one Swap Agreement, swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to Swap Agreements swaps for which such guarantee or security interest is or becomes illegal. View More
Found in XCel Brands, Inc. contract
Excluded Swap Obligation. Means, with respect As to any Guarantor, each Borrower, any Swap Obligation if, and to the extent that, all or a portion of the guarantee of such Guarantor Borrower of, or the grant by such Guarantor Borrower of a security interest to secure, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) (a) by virtue... of such Guarantor's Borrower's failure for any reason to constitute an "eligible contract participant" as defined in the Commodity Exchange Act and the regulations thereunder at the time the guarantee of such Guarantor Borrower or the grant of such security interest becomes or would become effective with respect to such obligation or liability in respect of a Secured Hedge Agreement Swap Obligation or (b) in the case of an obligation or liability in respect of a Secured Hedge Agreement that is required Swap Obligation subject to be cleared a clearing requirement pursuant to Section 2(h) of the Commodity Exchange Act (or any successor provision thereto), because such Guarantor Borrower is a "financial entity," as defined in Section 2(h)(7)(C)(i) of the Commodity Exchange Act (or any successor provision thereto), at the time the guarantee of (or grant of security interest by, as applicable) such Guarantor Borrower becomes or would become effective with respect to such related Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one Swap Agreement, swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to Swap Agreements swaps for which such guarantee or security interest is or becomes illegal. View More
Found in DULUTH HOLDINGS INC. contract
View Variations (2)
Excluded Swap Obligation. Means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the guaranty by such Guarantor of, or the grant by such Guarantor of a security interest or lien to secure, or the provision by such Guarantor of other support of, such Swap Obligation is or becomes illegal under the Commodity Exchange Act by virtue of such party's failure for any reason to constitute an Eligible Contract Participant at the time such guaranty, grant of security interest or... lien or provision of support of, such Swap Obligation becomes effective. If a Swap Obligation arises under a master agreement governing more than one Swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to Swaps for which such guaranty, grant of security interest or lien to secure or provision of other support is or becomes illegal. View More
Found in WARREN RESOURCES INC contract
Excluded Swap Obligation. With respect to any Credit Party, any Swap Obligation if, and to the extent that, all or a portion of the Guaranty of such Credit Party of, or the grant by such Credit Party of a Lien to secure, such Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act (or the application or official interpretation thereof) by virtue of such Credit Party's failure for any reason to constitute an "eligible contract participant" as defined in the Commodity Exchange Act... (determined after giving effect to Section 10.11 and any other "keepwell, support or other agreement" for the benefit of such Credit Party and any and all guarantees of such Credit Party's Swap Obligations by other Credit Parties) at the time the Guaranty of such Credit Party, or grant by such Credit Party of a Lien, becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a Master Agreement governing more than one Swap Contract, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to Swap Contracts for which such Guaranty or Lien is or becomes excluded in accordance with the first sentence of this definition View More
Found in STONEMOR PARTNERS LP contract
Excluded Swap Obligation. With respect to any Guarantor that is a Subsidiary of the Borrower or another Borrower Party, any Wells Fargo Swap Obligation if, and to the extent that, all or a portion of the guaranty of such Subsidiary of, or the grant by such Subsidiary of a security interest to secure, such Wells Fargo Swap Obligation (or any guaranty thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official... interpretation of any thereof) by virtue of such Subsidiary's failure for any reason to constitute an "eligible contract participant" as defined in the Commodity Exchange Act and the regulations thereunder at the time the guaranty of such Subsidiary or the grant of such security interest becomes effective with respect to such Wells Fargo Swap Obligation. If a Wells Fargo Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Wells Fargo Swap Obligation that is attributable to swaps for which such guaranty or security interest is or becomes illegal View More
Found in Astec Inds Inc contract
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