Common use of Hedging of interest rate risks Clause in Contracts

Hedging of interest rate risks. The Borrower shall deliver to the Agent by no later than the date of this Agreement the duly signed Hedge Strategy Letter, and shall from time to time, enter into such Designated Transactions with the Swap Bank in order to implement the hedging strategy outlined in the Hedge Strategy Letter whereby for the period on and from the date of this Agreement up to and including the Final Maturity Date, it will hedge all or the major part of the interest risk under this Agreement (but in any event not less than 50 per cent. of the interest rate risk under this Agreement outstanding at any time during the aforesaid period).

Hedging of interest rate risks. The Borrower shall deliver to the Agent by no later than 60 days from the date of this Agreement the Drawdown Date in relation to each Advance a duly signed Hedge Strategy Letter, and shall from time to time, enter into such Designated Transactions with the Swap Bank in order to implement the hedging strategy outlined in the Hedge Strategy Letter whereby for the period on and from the date of this Agreement up to and including the Final Maturity Date, it will hedge all or the major part of the interest risk under this Agreement (but in any event not less than 50 per cent. of the interest rate risk under this Agreement outstanding at any time during the aforesaid period).