Common use of Replacement Swap Agreement and Swap Termination Payments Clause in Contracts

Replacement Swap Agreement and Swap Termination Payments. Upon any applicable early termination under the Swap Agreement, and, if applicable, after failure of the Swap Counterparty to transfer all of its rights and obligations in and under the Swap Agreement to a replacement Swap Counterparty as required under the Swap Agreement, the Trust shall enter into a replacement Swap Agreement within thirty days of such early termination. Any amounts payable to the Trust upon any applicable early termination under the Swap Agreement (a “Counterparty Termination Payment”) shall be paid to a replacement swap counterparty by, or as directed by, the Trust as consideration for the entering into of a swap agreement in replacement of the Swap Agreement and any excess Counterparty Termination Payment shall be deposited immediately into the Accumulations Account for application pursuant to Article 4.