Defaulted Swap Termination Payment. Any Swap Termination Payment required to be paid by the Supplemental Interest Trust to the Swap Provider pursuant to either the LIBOR Swap Agreement or the Federal Funds Swap Agreement, as a result of an Event of Default (as defined in the applicable interest rate swap agreement) with respect to which the Swap Provider is the defaulting party or a Termination Event (as defined in the applicable interest rate swap agreement) (other than Illegality or a Tax Event that is not a Tax Event Upon Merger (each as defined in the applicable interest rate swap agreement)) with respect to which the Swap Provider is the sole Affected Party (as defined in the applicable interest rate swap agreement) or with respect to a termination resulting from a Substitution Event (as defined in the applicable Interest Rate Swap Agreement).
Appears in 3 contracts
Samples: Servicing and Trust Agreement (GSAA Home Equity Trust 2007-7), Servicing and Trust Agreement (GSAA Home Equity Trust 2007-7), Servicing and Trust Agreement (GSAA Home Equity Trust 2007-7)
Defaulted Swap Termination Payment. Any Swap Termination Payment required to be paid by the Supplemental Interest Trust to the Swap Provider pursuant to either the LIBOR Interest Rate Swap Agreement or the Federal Funds Swap Agreement, as a result of an Event of Default (as defined in the applicable interest rate swap agreementInterest Rate Swap Agreement) with respect to which the Swap Provider is the defaulting party or a Termination Event (as defined in the applicable interest rate swap agreementInterest Rate Swap Agreement) (other than Illegality or a Tax Event that is not a Tax Event Upon Merger (each as defined in the applicable interest rate swap agreementInterest Rate Swap Agreement)) with respect to which the Swap Provider is the sole Affected Party (as defined in the applicable interest rate swap agreementInterest Rate Swap Agreement) or with respect to a termination resulting from a Substitution Event (as defined in the applicable Interest Rate Swap Agreement).
Appears in 2 contracts
Samples: Servicing Agreement (GSAA Home Equity Trust 2007-5), Servicing Agreement (GSAA Home Equity Trust 2007-4)
Defaulted Swap Termination Payment. Any Swap Termination Payment required to be paid by the Supplemental Interest Trust to the Swap Provider pursuant to either the LIBOR applicable Interest Rate Swap Agreement or the Federal Funds Swap Agreement, as a result of an Event of Default (as defined in the applicable interest rate swap agreementInterest Rate Swap Agreement) with respect to which the Swap Provider is the defaulting party or a Termination Event (as defined in the applicable interest rate swap agreementInterest Rate Swap Agreement) (other than Illegality or a Tax Event that is not a Tax Event Upon Merger (each as defined in the applicable interest rate swap agreementInterest Rate Swap Agreement)) with respect to which the Swap Provider is the sole Affected Party (as defined in the applicable interest rate swap agreementInterest Rate Swap Agreement) or with respect to a termination resulting from a Substitution Event (as defined in the applicable Interest Rate Swap Agreement).
Appears in 1 contract
Samples: Servicing and Trust Agreement (GSAA Home Equity Trust 2007-8)