Common use of Ledger Clause in Contracts

Ledger. 16.1 The CBC shall maintain the Swap Replacement Ledger to which the Swap Replacement Amounts shall be credited. 16.2 The CBC shall only debit from the Swap Replacement Ledger: (a) those amounts payable to the replacement Swap Counterparty by the CBC in consideration of the entry into between the CBC and such replacement Swap Counterparty of a swap transaction to replace any Swap Agreement, to the extent that Swap Replacement Amounts have been received by the CBC in respect of such Swap Agreement as is being so replaced; (b) those amounts payable by the CBC to a Swap Counterparty in respect of the termination of any Swap Agreement, to the extent that Swap Replacement Amounts have been received by the CBC in respect of such Swap Agreement as is being so terminated; and (c) any Excess Swap Replacement Amounts, which amounts shall form part of the Interest Available Amount on the immediately succeeding CBC Payment Date and shall be distributed on such CBC Payment Date accordingly.

Ledger. 16.1 The CBC shall maintain the Swap Replacement Ledger to which the Swap Replacement Amounts shall be creditedcredited if Swap Agreements are entered into. 16.2 The CBC shall only debit from the Swap Replacement Ledger: (ai) those amounts payable to the replacement Swap Counterparty by the CBC in consideration of the entry into between the CBC and such replacement Swap Counterparty of a swap transaction to replace any Swap Agreement, to the extent that Swap Replacement Amounts have been received by the CBC in respect of such Swap Agreement as is being so replaced; (bii) those amounts payable by the CBC to a Swap Counterparty in respect of the termination of any Swap Agreement, to the extent that Swap Replacement Amounts have been received by the CBC in respect of such Swap Agreement as is being so terminated; and (ciii) any Excess Swap Replacement Amounts, which amounts shall form part of the Interest Available Amount on the immediately succeeding CBC Payment Date and shall be distributed on such CBC Payment Date accordingly.