Interest Rate Swap. (a) T he Trustee shall enter into the Interest Rate Swap, certain terms of which are set forth herein for the convenience of the parties thereto for incorporation therein by reference, with the Swap Counterparty on the Closing Date. Pursuant to the terms of the Interest Rate Swap, the Swap Counterparty shall pay to the Trustee on each Transfer Date the Net Swap Receipt, if any, plus the amount of any Net Swap Receipt due but not paid with respect to any previous Transfer Date. The Trustee shall deposit such Net Swap Receipts, if any, into the Finance Charge Account and shall apply such amounts as Class A Available Funds pursuant to subsection 4.09(a). In addition, in accordance with the terms of the Interest Rate Swap, the Trustee shall pay to the Swap Counterparty the Net Swap Payment, if any, for such Transfer Date, plus the amount of any Net Swap Payment due but not paid on any previous Transfer Date, from amounts applied pursuant to subsections 4.09(a)(ii). If the Interest Rate Swap has not been terminated and the Trustee has not received any Net Swap Receipt due with respect to the related Distribution Date prior to 10:00 a.m. on the date such payment is due, (i) the Trustee shall notify the Swap Counterparty, the Seller and the Servicer of such fact prior to 12:00 p.m. on such date, (ii) the Trustee, if directed by the Servicer, shall designate an Early Termination Date (as such term is defined in the Interest Rate Swap) pursuant to the Interest Rate Swap and shall, if the Seller so directs, terminate the Interest Rate Swap pursuant to its terms, and (iii) the Servicer shall provide the Trustee, prior to 4:30 p.m. on the related Transfer Date, with new statements substantially in the forms of Exhibit B and Exhibit C to this Series Supplement revised, if necessary, to reflect that the Net Swap Receipt (or any portion thereof) was not received by the Trustee for such Transfer Date.
Interest Rate Swap. As of the Issue Date, the City has not entered into an interest rate swap agreement or any other similar arrangement designed to modify its interest rate risk with respect to the Certificates. The City will not enter into any such arrangement in the future without obtaining an Opinion of Special Tax Counsel.
Interest Rate Swap. Any agreement, whether or not in writing, relating to any rate swap, forward rate transaction, commodity swap, equity index swap or option, interest rate option, cap or collar transaction, or any other similar transaction, including, unless the context otherwise clearly requires, any form of master agreement published by the International Swaps and Derivatives Association, Inc., or any other master agreement, entered into by Borrower (or its affiliate), in connection with the Loan, together with any related schedule and confirmation, as amended, supplemented, superseded or replaced from time to time.
Interest Rate Swap. The Issuer will not enter into any Interest Rate Swap after the Closing Date unless (i) as of the date that such Interest Rate Swap is entered into, the related Swap Counterparty has the Swap Required Ratings and (ii) such Interest Rate Swap provides that, if the related Swap Counterparty fails to have the Swap Required Ratings, such Swap Counterparty will take the actions that are specified in the Interest Rate Swap entered into by the Issuer on the Closing Date. Promptly following the termination of any Interest Rate Swap due to an Event of Default or Termination Event (as each such term is defined in such Interest Rate Swap), the Issuer will use reasonable efforts to enter into a replacement Interest Rate Swap on terms similar to those of such terminated Interest Rate Swap with an eligible Swap counterparty unless the Indenture Trustee sells the Collateral pursuant to Section 5.6(a)(iv).
Interest Rate Swap. Within 30 days after the Closing Date, after consultation with the Lender, the Borrower may enter into an interest rate protection agreement satisfactory to the Lender for a notional amount of up to $20,000,000. The Borrower is not required to enter into such agreement with the Lender.
Interest Rate Swap. As of the Issue Date the Corporation has not entered into an interest rate swap agreement or any other similar arrangement designed to modify its interest rate risk with respect to the Note. The Corporation will not enter into any such arrangement in the future without obtaining an Opinion of Bond Counsel.
Interest Rate Swap. 20 8.28 Expropriation................................................. 20
Interest Rate Swap. The Borrower will, upon notice from GDB, promptly enter into an interest rate swap arrangement between counter parties satisfactory to the GDB and the Bank, for a period commencing on the date such arrangement is entered into and ending on the seventh anniversary of the date hereof, if, within a period of five years from the date hereof, quotes by the Bank for a 90 day Libor based Fixed for Floating Rate Swap for a term of seven years equal or exceed 9.5% per annum at a time when three month Libor equals or exceeds 8.5% per annum.
Interest Rate Swap. Borrower and Lender or an affiliate of Lender (“Lender Parties”) may. from time to time, enter into an agreement including, but not limited to, an International Swap Dealers Association, Inc. (ISDA) Master Agreement or other arrangement which provides for an interest rate, currency, equity, credit or commodity swap, cap, floor or collar, spot or foreign currency exchange transaction, cross currency rate swap, currency option, any combination of, or option with respect to, any of the foregoing or similar transactions (collectively, a “Swap Transaction”), for the purpose of hedging Borrower’s exposure to fluctuations in interest rates, exchange rates, currency, stock, portfolio or loan valuations or commodity prices, together with schedules and documents related thereto and confirmations issued in connection therewith (all such agreements, arrangements, schedules, documents and confirmations, as the same may hereafter be renewed, extended, supplemented, increased or modified and in effect from time to time, are hereinafter referred to collectively as “Swap Documents”). Borrower represents, warrants, covenants and agrees that all Swap Documents executed by Borrower shall be included under the term Loan Documents. The indebtedness evidenced by the Note and any of the related documents including all principal and interest together with all other indebtedness and costs and expenses for which Borrower is responsible under the Note, or under any of the related documents, or under any of the Swap Documents to any of the Lender Parties including, without limitation, all assessments, losses, fees, penalties, costs and amounts of any kind or nature due from Borrower to any of the Lender Parties under or in connection with any Swap Documents (collectively, the “Swap Indebtedness”) shall, for all purposes of this Note, be considered as Obligations of Borrower to Lender under the Note and, notwithstanding anything contained herein or in any of the other Loan Documents to the contrary, all such Swap Indebtedness due from Borrower to any of the Lender Parties under any such Swap Documents shall further be considered to be part of the indebtedness owing by Xxxxxxxx to Lender under the Note, hereunder and under each of the other Loan Documents, the repayment of which shall be secured by all of the Loan Documents. Notwithstanding any other provisions of the Loan Documents, Borrower shall not have the right to prepay the Note, in whole or in part, while any Swap Documents are ...
Interest Rate Swap. In regard to the Interest Rate Swap:
(a) The Credit Facility under the Interest Rate Swap has been extended by SunTrust Bank, Atlanta, an affiliate of SunTrust. Notwithstanding that SunTrust Bank, Atlanta, may not be a signatory to this Agreement or one or more other Credit Documents, SunTrust Bank, Atlanta, shall be deemed to be a Lender hereunder and be entitled to the benefits and privileges set forth in this Agreement and each other Credit Document. Specifically, the Collateral shall secure any obligations due SunTrust Bank, Atlanta in connection with the Interest Rate Swap, and any mortgage, security interest or other lien held by any one or more of the Agents shall further be held to secure Facility C due and owing to SunTrust Bank, Atlanta.
(b) As and when mandatory principal reductions are paid on the Synthetic Lease as set forth in Section 3.2(c) above, the Interest Rate Swap shall be "unwound" on a pro-rata basis.
(c) The Interest Rate Swap will, in any event, be fully unwound at such time as obligations due under the Synthetic Lease (including, but not limited to, the Synthetic Lease Notes) is paid in full but in no event later than the Maturity Date. As and when the Interest Rate Swap is "unwound" from time to time, the Borrower shall pay to the Lender (in this case, SunTrust Bank, Atlanta, which has provided this Facility) any obligation arising out of said Interest Rate Swap.
(a) Subsection 5.1(s) regarding the mortgage is amended in its entirety to read as follows:
