Common use of Hedge Counterparty Clause in Contracts

Hedge Counterparty. (a) Each Hedge Counterparty shall on request by any Secured Debt Agent or the Security Agent from time to time notify the Secured Debt Agents and the Security Agent of the Notional Amount (as defined in the relevant Hedging Agreement) of each Hedging Agreement to which it is a party and the residual maturity of each such Hedging Agreement. (b) If any Hedge Counterparty does not promptly on request notify the Secured Debt Agents and the Security Agent of any matter pursuant to paragraph (a) above, the Secured Debt Agents and the Security Agent may assume that the Notional Amount (as defined in the relevant Hedging Agreement) of each relevant Hedging Agreement is that set out in that Hedging Agreement and may calculate the residual maturity of each relevant Hedging Agreement by reference to that Hedging Agreement.