COMPUTATIONS UNDER FUNDING 2 SWAP Clause Samples
COMPUTATIONS UNDER FUNDING 2 SWAP. On each Calculation Date, the Cash Manager shall determine, in accordance with the terms of the Funding 2 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 2 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 2 and the Funding 2 Security Trustee of such amounts, balances and rates.
COMPUTATIONS UNDER FUNDING 2 SWAP. On each Calculation Date, the Cash Manager shall determine, in accordance with the terms of the Funding 2 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 2 Swap Agreement);
(b) the weighted average of the fixed rates of interest charged to borrowers of Fixed Rate Loans;
(c) the weighted average of the rate of interest, linked to the Bank of England repo rate, charged to borrowers of Tracker Rate Loans; and
(d) the weighted average of the rate of interest, linked to a variable rate, charged to borrowers of Variable Rate Loans, and shall notify Funding 2 and the Funding 2 Security Trustee of such amounts, balances and rates.