Examples of Wachovia Swap Agreement in a sentence
On October 28, 2009, Wachovia delivered a Notice of Amount Due Following Early Termination to FairPoint Communications (the “Wachovia Notice”) notifying FairPoint Communications that an “Early Termination Date” had occurred under the Wachovia Swap Agreement and that the outstanding amounts owed to Wachovia under the Wachovia Swap Agreement total approximately $59.2 million on the effective date of the Wachovia Notice.
In addition, on September 25, 2009, FairPoint Communications entered into a forbearance agreement (the “Wachovia Forbearance Agreement”) with Wachovia Bank, N.A. (“Wachovia”) relating to the Wachovia Swap Agreement.
Pursuant to the Wachovia Forbearance Agreement, subject to no intervening defaults, Wachovia agreed until October 30, 2009 not to exercise any of its rights or remedies under the Wachovia Swap Agreement if FairPoint failed to make a payment that was due under the Wachovia Swap Agreement on September 30, 2009.Finally, on September 25,30, 2009, FairPoint Communications entered into a forbearance agreement (the “Morgan Stanley Forbearance Agreement”) with Morgan Stanley Capital Services Inc.