Common use of Designated Transactions under a Master Agreement Clause in Contracts

Designated Transactions under a Master Agreement. At any time the Borrower may request the Swap Banks (by advising the Agent who shall (after first advising the Swap Banks of the amount and the maturity of the intended hedge and consulting with them) then advise the Swap Banks of the rate as determined by the Agent and invite each Swap Bank to participate on a pro-rata basis in the intended hedge by entering into a Designated Transaction at such rate) to conclude Designated Transactions for the purpose of swapping their interest payment obligations and/or their currency exposure under this Agreement. Signature of a Master Agreement does not commit the Swap Bank concerned to conclude Designated Transactions, or even to offer terms for doing so, but does provide a contractual framework within which Designated Transactions may be concluded and secured, assuming that the Swap Bank concerned is willing to conclude any Designated Transaction at the relevant time and that, if that is the case, mutually acceptable terms can then be agreed at the relevant time.

Designated Transactions under a Master Agreement. At any time the Borrower Borrowers may request the Swap Banks (by advising the Agent who shall (after first advising the Swap Banks of the amount and the maturity of the intended hedge and consulting with them) then advise the Swap Banks of the rate as determined by the Agent and invite each Swap Bank to participate on a pro-rata basis in the intended hedge by entering into a Designated Transaction at such rate) to conclude Designated Transactions for the purpose of swapping their interest payment obligations and/or their currency exposure under this Agreement. Signature of a Master Agreement does not commit the Swap Bank concerned to conclude Designated Transactions, or even to offer terms for doing so, but does provide a contractual framework within which Designated Transactions may be concluded and secured, assuming that the Swap Bank concerned is willing to conclude any Designated Transaction at the relevant time and that, if that is the case, mutually acceptable terms can then be agreed at the relevant time.