Common use of Replacement Currency Swap Agreement Clause in Contracts

Replacement Currency Swap Agreement. (a) If any Transaction under this Agreement is terminated prior to the day upon which the Relevant Notes are redeemed in full, Party B may, at the direction of the Manager, enter into one or more currency swaps which replace that Transaction (collectively a "Replacement Currency Swap") provided that: (i) the Rating Agencies confirm in writing that the entry into the Replacement Currency Swap by Party B does not result in a reduction, qualification or withdrawal of the credit ratings then assigned by them to the Relevant Notes; and (ii) the liability of Party B under the Replacement Currency Swap is limited to at least the same extent that its liability is limited under that Transaction. (b) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount is payable by Party B to Party A upon termination of the Transaction referred to in Part 5(17)(a), Party B must direct the Replacement Currency Swap provider to pay any upfront premium to enter into the Replacement Currency Swap due to Party B directly to Party A in satisfaction of and to the extent of Party B's obligation to pay the Settlement Amount to Party A, and to the extent such premium is not greater than or equal to the Settlement Amount, the balance may be satisfied by Party B as an Expense. (c) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount is payable by Party A to Party B upon termination of the Transaction referred to in Part 5(17)(a), Party B may direct Party A to pay that amount to the Replacement Currency Swap provider in satisfaction of or towards and to the extent of Party B's obligation (if any) to pay an upfront premium to the Replacement Currency Swap provider to enter into the Replacement Currency Swap. (d) The obligations of Party B (and the rights of Party A) under this Part 5(17) will survive the termination of this Agreement.

Replacement Currency Swap Agreement. (a) If any Transaction under this Agreement is terminated prior to the day upon which the Relevant Notes are redeemed in full, Party B may, at the direction of the Manager, enter into one or more currency swaps which replace that Transaction (collectively a "Replacement Currency SwapREPLACEMENT CURRENCY SWAP") provided that: (i) the Rating Agencies confirm in writing that the entry into the Replacement Currency Swap by Party B does not result in a reduction, qualification or withdrawal of the credit ratings then assigned by them to the Relevant Notes; and (ii) the liability of Party B under the Replacement Currency Swap is limited to at least the same extent that its liability is limited under that Transaction. (b) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount is payable by Party B to Party A upon termination of the Transaction referred to in Part 5(17)(a)) of this Schedule, Party B must direct must, on the Replacement Currency Swap provider to direction of the Manager, pay any upfront premium to enter into the Replacement Currency Swap due to received by Party B directly from the Replacement Currency Swap provider to Party A in satisfaction of and to the extent of Party B's obligation to pay the Settlement Amount to Party A, and to the extent such premium is not greater than or equal to the Settlement Amount, the balance may be satisfied by Party B as an Expense. (c) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount is payable by Party A to Party B upon termination of the Transaction referred to in Part 5(17)(a)) of this Schedule, Party B may direct Party A to pay that amount to the Replacement Currency Swap provider in satisfaction of or towards and to the extent of Party B's obligation (if any) to pay an upfront premium to the Replacement Currency Swap provider to enter into the Replacement Currency Swap. (d) The obligations of Party B (and the rights of Party A) under this Part 5(17) will survive the termination of this Agreement.

Replacement Currency Swap Agreement. (a) If any Transaction under this Agreement is terminated prior to the day upon which the Relevant Notes are redeemed in full, Party B may, at the direction of the Manager, and must, if so directed by the Manager, enter into one or more currency swaps which replace that Transaction (collectively a "“Replacement Currency Swap"”) provided that: (i) the Manager has issued a Rating Agencies confirm in writing that Notification with respect to the entry into terms of the Replacement Currency Swap by Party B does not result in a reduction, qualification or withdrawal and the provider of the credit ratings then assigned by them to the Relevant NotesReplacement Currency Swap; and (ii) the liability of Party B under the Replacement Currency Swap is limited to at least the same extent that its liability is limited under that Transaction. (b) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement an amount payable pursuant to Section 6(e) (the “Amount”) (or any interest on that Amount in accordance with Section 6(d)(ii)) is payable by Party B to Party A upon termination of the Transaction referred to in Part 5(17)(a5(16)(a), Party B must (unless otherwise agreed between Party A, Party B and the Manager) direct the Replacement Currency Swap provider to pay any upfront premium to enter into the Replacement Currency Swap due to Party B directly to Party A in satisfaction of and to the extent of Party B's ’s obligation to pay the Settlement Amount (and any interest on that Amount in accordance with Section 6(d)(ii)) to Party A, and provided that to the extent such premium is not greater less than or equal to the Settlement Amount, the balance may will be satisfied by Party B as an the Series Trust Expense. (c) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement an Amount (and any interest on that Amount in accordance with Section 6(d)(ii)) is payable by Party A to Party B upon termination of the Transaction referred to in Part 5(17)(a5(16)(a), Party B may must (unless otherwise agreed between Party A, Party B and the Manager) direct Party A to pay that amount to the Replacement Currency Swap provider in satisfaction of or towards and to the extent of Party B's ’s obligation (if any) to pay an upfront premium to the Replacement Currency Swap provider to enter into the Replacement Currency SwapSwap and if Party A’s policies in effect at such time permit it to make payments directly to the Replacement Currency Swap provider, Party A will comply with such direction and thereby satisfy its obligations under Section 6. (d) The rights and obligations of Party B (and the rights of Party A) parties under this Part 5(175(16) will survive the termination of this Agreement.

Replacement Currency Swap Agreement. (a) If any Transaction under this Agreement is terminated prior to the day upon which the Relevant Class A-1 Notes are redeemed in full, Party B may, at the direction of the Manager, enter into one or more currency swaps which replace that Transaction (collectively a "Replacement Currency Swap") provided that: (i) the Rating Agencies confirm in writing that the entry into the Replacement Currency Swap by Party B does not result in a reduction, qualification or withdrawal of the credit ratings then assigned by them to the Relevant Class A-1 Notes; and (ii) the liability of Party B under the Replacement Currency Swap is limited to at least the same extent that its liability is limited under that Transaction. (b) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount is payable by Party B to Party A upon termination of the Transaction referred to in Part 5(17)(a), Party B must direct the Replacement Currency Swap provider to pay any upfront premium to enter into the Replacement Currency Swap due to Party B directly to Party A in satisfaction of and to the extent of Party B's obligation to pay the Settlement Amount to Party A, and to the extent such premium is not greater than or equal to the Settlement Amount, the balance may be satisfied by Party B as an Expense. (c) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount is payable by Party A to Party B upon termination of the Transaction referred to in Part 5(17)(a), Party B may direct Party A to pay that amount to the Replacement Currency Swap provider in satisfaction of or towards and to the extent of Party B's obligation (if any) to pay an upfront premium to the Replacement Currency Swap provider to enter into the Replacement Currency Swap. (d) The obligations of Party B (and the rights of Party A) under this Part 5(17) will survive the termination of this Agreement.

Replacement Currency Swap Agreement. (a) If any Transaction under this Agreement is terminated prior to the day upon which the Relevant Notes are redeemed in fullterminated, Party B may, at the direction of the Manager, enter into one or more currency swaps which replace that Transaction (collectively a "Replacement Currency SwapREPLACEMENT CURRENCY SWAP") provided that: (i) the Current Rating Agencies Authorities in relation to the Transaction confirm in writing that the entry into the Replacement Currency Swap by Party B does will not result in a reduction, qualification or withdrawal of the credit ratings then assigned by them to the Relevant NotesNotes in relation to the Transaction; and (ii) the liability of Party B under the Replacement Currency Swap is limited to at least the same extent that its liability is limited under that Transaction. (b) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount (or any interest on that Settlement Amount in accordance with Section 6(d)(ii)) is payable by Party B to Party A upon termination of the Transaction referred to in Part 5(17)(a), Party B must (unless otherwise agreed between Party A, Party B and the Manager) direct the Replacement Currency Swap provider to pay any upfront premium to enter into the Replacement Currency Swap due to Party B directly to Party A in satisfaction of and to the extent of Party B's obligation to pay the Settlement Amount (and any interest on that Settlement Amount in accordance with Section 6(d)(ii)) to Party A, and to the extent such premium is not greater than or equal to the Settlement Amount, the balance may be satisfied by Party B as an ExpenseFees and Expenses of the relevant Sub-Fund. (c) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount (or any interest on that Settlement Amount in accordance with Section 6(d)(ii)) is payable by Party A to Party B upon termination of the Transaction referred to in Part 5(17)(a), Party B may must (unless otherwise agreed between Party A, Party B and the Manager) direct Party A to pay that amount to the Replacement Currency Swap provider in satisfaction of or towards and to the extent of Party B's obligation (if any) to pay an upfront premium to the Replacement Currency Swap provider to enter into the Replacement Currency Swap. (d) The rights and obligations of Party B (and the rights of Party A) parties under this Part 5(17) will survive the termination of this Agreement.

Replacement Currency Swap Agreement. (a) If any Transaction under this Agreement is terminated prior to the day upon which the Relevant Notes are redeemed in full, Party B may, at the direction of the Manager, enter into one or more currency swaps which replace that Transaction (collectively a "Replacement Currency SwapREPLACEMENT CURRENCY SWAP") provided that: (i) the Rating Agencies confirm in writing that the entry into the Replacement Currency Swap by Party B does not result in a reduction, qualification or withdrawal of the credit ratings then assigned by them to the Relevant Notes; and (ii) the liability of Party B under the Replacement Currency Swap is limited to at least the same extent that its liability is limited under that Transaction. (b) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount is payable by Party B to Party A upon termination of the Transaction referred to in Part 5(17)(a), Party B must direct the Replacement Currency Swap provider to pay any upfront premium to enter into the Replacement Currency Swap due to Party B directly to Party A in satisfaction of and to the extent of Party B's obligation to pay the Settlement Amount to Party A, and to the extent such premium is not greater than or equal to the Settlement Amount, the balance may be satisfied by Party B as an Expense. (c) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount is payable by Party A to Party B upon termination of the Transaction referred to in Part 5(17)(a), Party B may direct Party A to pay that amount to the Replacement Currency Swap provider in satisfaction of or towards and to the extent of Party B's obligation (if any) to pay an upfront premium to the Replacement Currency Swap provider to enter into the Replacement Currency Swap. (d) The obligations of Party B (and the rights of Party A) under this Part 5(17) will survive the termination of this Agreement.

Replacement Currency Swap Agreement. (a) If any Transaction under this Agreement which is a currency swap is terminated prior to the day upon which the Relevant Class A Notes are redeemed in full, Party B may, at the direction of the Global Trust Manager, enter into one or more currency swaps which replace that Transaction (collectively a "Replacement Currency Swap") provided that:currency (i) the Current Rating Agencies confirm in writing that the entry into the Replacement Currency Swap by Party B does not result in a reduction, qualification or withdrawal of the credit ratings then assigned by them to the Relevant Notesan Adverse Rating Effect; and (ii) the liability of Party B under the Replacement Currency Swap is limited to the satisfaction of Party B and, in any case, to at least the same extent that its liability is limited under that Transaction. (b) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount the amount calculated to be payable under Section 6(e) ("TOTAL SETTLEMENT AMOUNT") is payable by Party B to Party A upon termination of the Transaction referred to in Part 5(17)(a5(6)(a), Party B must direct the Replacement Currency Swap provider to pay any upfront premium to enter into the Replacement Currency Swap due to Party B directly to Party A in satisfaction of and to the extent of Party B's obligation to pay the Total Settlement Amount to Party A, and to the extent such premium is not greater than or equal to the Total Settlement Amount, the balance may be satisfied by Party B as an ExpenseExpense of the Trust. (c) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Total Settlement Amount is payable by Party A to Party B upon termination of the Transaction referred to in Part 5(17)(a5(6)(a), Party B may direct Party A to pay that amount to the Replacement Currency Swap provider in satisfaction of or towards and to the extent of Party B's obligation (if any) to pay an upfront premium to the Replacement Currency Swap provider to enter into the Replacement Currency Swap. (d) The rights and obligations of Party A and Party B (and the rights of Party A) under this Part 5(175(6) will survive the termination of this Agreement.

Replacement Currency Swap Agreement. (a) If any Transaction under this Agreement which is a currency swap is terminated prior to the day upon which the Relevant relevant Offshore Notes to which that currency swap relates are redeemed in full, Party B may, at the direction of the Global Trust Manager, enter into one or more currency swaps which replace that Transaction (collectively a "Replacement Currency Swap") provided that: (i) the Current Rating Agencies confirm in writing that the entry into the Replacement Currency Swap by Party B does not result in a reduction, qualification or withdrawal of the credit ratings then assigned by them to the Relevant Notesan Adverse Rating Effect; and (ii) the liability of Party B under the Replacement Currency Swap is limited to the satisfaction of Party B and, in any case, to at least the same extent that its liability is limited under that Transaction. (b) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a the amount calculated to be payable under Section 6(e) ("Total Settlement Amount Amount") is payable by Party B to Party A upon termination of the Transaction referred to in Part 5(17)(a5(6)(a), Party B must direct the Replacement Currency Swap provider to pay any upfront premium to enter into the Replacement Currency Swap due to Party B directly to Party A in satisfaction of and to the extent of Party B's obligation to pay the Total Settlement Amount to Party A, and to the extent such premium is not greater than or equal to the Total Settlement Amount, the balance may must be satisfied by Party B as an Expensea payment due under clause 14.10(f) or clause 14.18(f)(iv) (as the case may be) of the Supplemental Deed. (c) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Total Settlement Amount is payable by Party A to Party B upon termination of the Transaction referred to in Part 5(17)(a5(6)(a), Party B may direct Party A to pay that amount to the Replacement Currency Swap provider in satisfaction of or towards and to the extent of Party B's obligation (if any) to pay an upfront premium to the Replacement Currency Swap provider to enter into the Replacement Currency Swap. (d) The rights and obligations of Party A and Party B (and the rights of Party A) under this Part 5(175(6) will survive the termination of this Agreement.

Replacement Currency Swap Agreement. (a) If any Transaction under this Agreement which is a currency swap is terminated prior to the day upon which the Relevant Notes [Class/Classes of US Notes] are redeemed in full, Party B may, at the direction of the Global Trust Manager, enter into one or more currency swaps which replace that Transaction (collectively a "Replacement Currency Swap") provided that: (i) the Current Rating Agencies confirm in writing that the entry into the Replacement Currency Swap by Party B does not result in a reduction, qualification or withdrawal of the credit ratings then assigned by them to the Relevant Notesan Adverse Rating Effect; and (ii) the liability of Party B under the Replacement Currency Swap is limited to the satisfaction of Party B and, in any case, to at least the same extent that its liability is limited under that Transaction. (b) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a the amount calculated to be payable under Section 6(e) ("Total Settlement Amount Amount") is payable by Party B to Party A upon termination of the Transaction referred to in Part 5(17)(a5(6)(a), Party B must direct the Replacement Currency Swap provider to pay any upfront premium to enter into the Replacement Currency Swap due to Party B directly to Party A in satisfaction of and to the extent of Party B's obligation to pay the Total Settlement Amount to Party A, and to the extent such premium is not greater than or equal to the Total Settlement Amount, the balance may be satisfied by Party B as an ExpenseExpense of the Trust. (c) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Total Settlement Amount is payable by Party A to Party B upon termination of the Transaction referred to in Part 5(17)(a5(6)(a), Party B may direct Party A to pay that amount to the Replacement Currency Swap provider in satisfaction of or towards and to the extent of Party B's obligation (if any) to pay an upfront premium to the Replacement Currency Swap provider to enter into the Replacement Currency Swap. (d) The rights and obligations of Party A and Party B (and the rights of Party A) under this Part 5(175(6) will survive the termination of this Agreement.

Replacement Currency Swap Agreement. (a) If any Transaction under this Agreement is terminated prior to the day upon which the Relevant Notes are redeemed in full, Party B may, at the direction of the Trust Manager, enter into one or more currency swaps which replace that Transaction (collectively a "Replacement Currency Swap") provided that: (i) the Designated Rating Agencies confirm in writing that the entry into the Replacement Currency Swap by Party B does not result in a reduction, qualification or withdrawal of the credit ratings then assigned by them to the Relevant Notesan Adverse Rating Effect; and (ii) the liability of Party B under the Replacement Currency Swap is limited to at least the same extent that its liability is limited under that Transaction. (b) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount is payable by Party B to Party A upon termination of the Transaction referred to in Part 5(17)(a), Party B must direct the Replacement Currency Swap provider to pay any upfront premium to enter into the Replacement Currency Swap due to Party B directly to Party A. Any such premium received by Party A is to be applied in satisfaction of and to the extent of Party B's obligation to pay the balance of the Settlement Amount and to the extent that any premium is less than the Settlement Amount, Party B's obligation to pay the balance of the Settlement Amount to Party A, and to the extent such premium is not greater than or equal to the Settlement Amount, the balance A may be satisfied met by Party B as an ExpenseExpense of the Trust. (c) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount is payable by Party A to Party B upon termination of the Transaction referred to in Part 5(17)(a), Party B may direct Party A to pay that amount to the Replacement Currency Swap provider in satisfaction of or towards and to the extent of Party B's obligation (if any) to pay an upfront premium to the Replacement Currency Swap provider to enter into the Replacement Currency Swap. (d) The obligations of Party B (and the rights of Party A) under this Part 5(17) will survive the termination of this Agreement.

Replacement Currency Swap Agreement. (a) If any Transaction under this Agreement is terminated prior to the day upon which the Relevant Notes are redeemed in full, Party B may, at the direction of the Trust Manager, enter into one or more currency swaps which replace that Transaction (collectively a "Replacement Currency SwapREPLACEMENT CURRENCY SWAP") provided that: (i) the Designated Rating Agencies confirm in writing that the entry into the Replacement Currency Swap by Party B does not result in a reduction, qualification or withdrawal of the credit ratings then assigned by them to the Relevant Notesan Adverse Rating Effect; and (ii) the liability of Party B under the Replacement Currency Swap is limited to at least the same extent that its liability is limited under that Transaction. (b) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount is payable by Party B to Party A upon termination of the Transaction referred to in Part 5(17)(a), Party B must direct the Replacement Currency Swap provider to pay any upfront premium to enter into the Replacement Currency Swap due to Party B directly to Party A in satisfaction of and to the extent of Party B's obligation to pay the Settlement Amount to Party A, and to the extent such premium is not greater than or equal to the Settlement Amount, the balance may be satisfied by Party B as an ExpenseExpense of the Trust. (c) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Settlement Amount is payable by Party A to Party B upon termination of the Transaction referred to in Part 5(17)(a), Party B may direct Party A to pay that amount to the Replacement Currency Swap provider in satisfaction of or towards and to the extent of Party B's obligation (if any) to pay an upfront premium to the Replacement Currency Swap provider to enter into the Replacement Currency Swap. (d) The obligations of Party B (and the rights of Party A) under this Part 5(17) will survive the termination of this Agreement.

Replacement Currency Swap Agreement. (a) If any Transaction under this Agreement which is a currency swap is terminated prior to the day upon which the Relevant relevant Offshore Notes to which that currency swap relates are redeemed in full, Party B may, at the direction of the Global Trust Manager, enter into one or more currency swaps which replace that Transaction (collectively a "Replacement Currency Swap") provided that: (i) the Current Rating Agencies confirm in writing that the entry into the Replacement Currency Swap by Party B does not result in a reduction, qualification or withdrawal of the credit ratings then assigned by them to the Relevant Notesan Adverse Rating Effect; and (ii) the liability of Party B under the Replacement Currency Swap is limited to the satisfaction of Party B and, in any case, to at least the same extent that its liability is limited under that Transaction. (b) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a the amount calculated to be payable under Section 6(e) ("Total Settlement Amount Amount") is payable by Party B to Party A upon termination of the Transaction referred to in Part 5(17)(a5(6)(a), Party B must direct the Replacement Currency Swap provider to pay any upfront premium to enter into the Replacement Currency Swap due to Party B directly to Party A in satisfaction of and to the extent of Party B's obligation to pay the Total Settlement Amount to Party A, and to the extent such premium is not greater than or equal to the Total Settlement Amount, the balance may must be satisfied by Party B as an Expensea payment due under clause 14.10(e) or clause 14.18(f)(iv) (as the case may be) of the Supplemental Deed. (c) If Party B enters into a Replacement Currency Swap pursuant to paragraph (a) and a Total Settlement Amount is payable by Party A to Party B upon termination of the Transaction referred to in Part 5(17)(a5(6)(a), Party B may direct Party A to pay that amount to the Replacement Currency Swap provider in satisfaction of or towards and to the extent of Party B's obligation (if any) to pay an upfront premium to the Replacement Currency Swap provider to enter into the Replacement Currency Swap. (d) The rights and obligations of Party A and Party B (and the rights of Party A) under this Part 5(175(6) will survive the termination of this Agreement.