Swap Payments Clause Samples
The Swap Payments clause defines the obligations of parties to make periodic payments to each other under a swap agreement, typically based on the difference between fixed and floating interest rates or other financial benchmarks. In practice, each party calculates its payment amounts according to the terms of the swap, such as payment frequency, calculation method, and reference rates, and then exchanges the net payment on specified dates. This clause ensures that the financial flows between parties are clearly established, reducing the risk of disputes and providing a predictable framework for managing interest rate or currency exposure.
Swap Payments. The Trust shall pay to the Swap Counterparty, (i) all interest payments paid to the Trust in respect of the Underlying Securities on the date such amounts are received by the Trust, excluding any amount of interest that accrued with respect to the Underlying Securities from the Underlying Securities Payment Date next preceding the Closing Date to, but excluding, the Closing Date and (ii) upon the occurrence of a Swap Termination Event, other than a Special Termination Event, an amount equal to any Early Termination Payment owed by it to the Swap Counterparty under the Swap Agreement. All amounts received by the Trustee from the Swap Counterparty on any date under the Swap Agreement shall be deposited into the Certificate Account on such date.
Swap Payments. Semiannual fixed amounts payable by the Issuer to a Counterparty in respect of fixed interest under a Swap Agreement are includable in Intangible Transition Charges.
Swap Payments. On each Distribution Date to and including the Distribution Date in March 2011, Net Swap Payments and Swap Termination Payments (other than Swap Termination Payments resulting from a Swap Provider Trigger Event) payable by the Supplemental Interest Trust to the Swap Provider pursuant to the Swap Agreement for such Distribution Date shall be remitted to the Supplemental Interest Trustee for deposit into the Supplemental Interest Trust.
Swap Payments they will ensure that any Swap Payments shall be paid to the Operating Accounts (in pro rata shares between them) provided that, on the occurrence of a Default the Borrowers shall forthwith, and the Security Agent may during such time, instruct the persons from whom any Swap Payments are then payable, to pay the same to the Security Agent or as it may direct and any Swap Payments which are then in the hands of the Borrowers’ agents shall be deemed to have been received by them for the use and on behalf of the Security Agent;
Swap Payments. For so long as the Swap Agreement shall not have been terminated, the Trust shall pay to the Swap Counterparty (i) all interest payments paid to the Trust in respect of the Underlying Securities on the date such amounts are received by the Trust, excluding any amount of interest that accrued with respect to the Underlying Securities from the Underlying Securities Payment Date next preceding the Closing Date to, but excluding, the Closing Date and (ii) upon the occurrence of any Swap Agreement Termination Event that is also a Trust Termination Event or a Swap Termination Event due to an Optional Redemption or other prepayment of the Underlying Securities or an Optional Exchange, an amount equal to any Early Termination Payment owed by it to the Swap Counterparty under the Swap Agreement.
Swap Payments other sums paid by the Swap Provider under the Master Swap Agreement (including sums arising from any arbitration award);
Swap Payments. For so long as the Swap Agreement shall not have been terminated, the Trust shall pay to the Swap Counterparty (i) all interest payments paid to the Trust in respect of the Underlying Securities on the date such amounts are received by the Trust, excluding any amount of interest that accrued with respect to the Underlying Securities from the Underlying Securities Payment Date next preceding the Closing Date to, but excluding, the Closing Date and (ii) upon the occurrence of any Swap Agreement Termination Event that is also a Trust Termination Event, an amount equal to any Early Termination Payment owed by it to the Swap Counterparty under the Swap Agreement.
Swap Payments. For so long as the Swap Agreement shall not have been terminated, the Trust shall pay to the Swap Counterparty, (i) all interest payments paid to the Trust in respect of the Underlying Securities on the date such amounts are received by the Trust, excluding any amount of interest that accrued with respect to the Underlying Securities from the Underlying Securities Payment Date next preceding the Closing Date to, but excluding, the Closing Date and (ii) upon the occurrence of an Optional Exchange for the Underlying Securities, an amount equal to any Early Termination Payment owed by it to the Swap Counterparty under the Swap Agreement, provided, however, that such amount will be an obligation of the Warrant Holder seeking to effectuate the Optional Exchange.
Swap Payments. Promptly after the end of each Calculation Period for each outstanding Gas Swap, Party A shall deliver to Party B invoices in respect of Gas Swap settlement payments that are due with respect to such Transactions. Gas Swap settlement payments shall be due on the fifth Business Day after the end of each relevant Calculation Period (the “Gas Swap Settlement Date”); provided, however, that Gas Swap settlement payments due from Party B shall not be deemed past due so long as such payments are made by the Gas Due Date that occurs in the third month following the end of the applicable Calculation Period.
Swap Payments. Promptly after the end of each Calculation Period for each outstanding Energy Swap, Party A shall deliver to Party B invoices in respect of Energy Swap settlement payments that are due with respect to such Transactions. Energy Swap settlement payments shall be due on the fifth Business Day after the end of each relevant Calculation Period (the “Energy Swap Settlement Date”); provided, however, that Energy Swap settlement payments due from Party B shall not be deemed past due so long as such payments are made by the Energy Due Date that occurs in the third month following the end of the applicable Calculation Period.