COMPUTATIONS UNDER FUNDING 1 SWAP. On each Calculation Date, the Cash Manager shall determine, in accordance with the terms of the Funding 1 Swap, in respect of the relevant Calculation Period: (a) the Average Fixed Rate Loan Balance, the Average Variable Rate Loan Balance and the Average Tracker Rate Loan Balance (each as defined in the Funding 1 Swap Agreement); (b) the weighted average of the fixed rates of interest charged to borrowers of Fixed Rate Loans; (c) the Tracker Swap Rate; and (d) the Variable Rate Swap SVR, and shall notify Funding 1 and the Funding 1 Security Trustee of such amounts, balances and rates.
Appears in 4 contracts
Samples: Cash Management Agreement (Permanent Funding (No. 2) LTD), Cash Management Agreement (Permanent Funding (No. 2) LTD), Cash Management Agreement (Permanent Funding (No. 2) LTD)
COMPUTATIONS UNDER FUNDING 1 SWAP. On each Calculation Date, the Cash Manager shall determine, in accordance with the terms of the Funding 1 Swap, in respect of the relevant Calculation Period:
(a) the Average Fixed Rate Loan Balance, the Average Variable Rate Loan Balance and the Average Tracker Rate Loan Balance (each as defined in the Funding 1 Swap Agreement);
(b) the weighted average of the fixed rates of interest charged to borrowers of Fixed Rate Loans;
(c) the Tracker Swap Rate; and
(d) the Variable Rate Swap SVR, and shall notify Funding 1 and the Funding 1 Security Trustee of such amounts, balances and rates.
Appears in 1 contract
Samples: Cash Management Agreement (Permanent Mortgages Trustee LTD)
