Common use of Rights of the Swap Counterparty Clause in Contracts

Rights of the Swap Counterparty. The Swap Counterparty shall be deemed a third-party beneficiary of this Agreement to the same extent as if it were a party hereto and shall have the right, upon designation of an “Early Termination Date” (as defined in the related Swap Agreement), to enforce its rights under this Agreement, which rights include but are not limited to the obligation of the Securities Administrator to pay any Net Swap Payment or Swap Termination Payment required pursuant to Sections 6.02 to the Swap Counterparty. For the protection and enforcement of the provisions of this Section the Swap Counterparty shall be entitled to such relief as can be given either at law or in equity.

Rights of the Swap Counterparty. The Swap Counterparty shall be deemed a third-party beneficiary of this Agreement to the same extent as if it were a party hereto and shall have the right, upon designation of an “Early Termination Date” (as defined in the related Swap Agreement), to enforce its rights under this Transfer and Servicing Agreement Agreement, which rights include but are not limited to the obligation of the Securities Administrator to pay any Net Swap Payment or Swap Termination Payment required pursuant to Sections 6.02 to the Swap Counterparty. For the protection and enforcement of the provisions of this Section the Swap Counterparty shall be entitled to such relief as can be given either at law or in equity.