Swap Termination Payments Clause Samples

Swap Termination Payments. After the Effective Date, the City will not enter into any new Swap Contract or amend any existing Swap Contract with respect to any Pledged Revenues (i) wherein any termination payments or settlement amounts are senior to or on parity with the payment of the Commercial Paper Notes or the Obligations hereunder or (ii) which requires the City to post cash collateral to secure its obligations thereunder, in each case, without the prior written consent of the Bank.

Swap Termination Payments. From the date hereof, no Lien on the Security securing any swap termination payments payable from Pledged Revenues shall be senior in priority to or pari passu with the Lien on the Security granted in support of the Parity Obligations under the Ordinance.

Swap Termination Payments. In the event an Early Termination Date is designated with respect to which this Transaction is an Affected Transaction (other than as a result of a self-tender), there shall be payable to Party A as a termination payment in lieu of the termination payment determined in accordance with Section 6(e) of the Agreement an amount equal to the excess (if any) of the sale proceeds in excess of the principal of and interest on the Units. If an early termination occurs due to a tender of the Bonds to the Bond Issuer, the Swap Termination Payment shall be determined under Section 6(e) determined on the basis of "Market Quotation" under the Swap Agreement (with Party B as sole Affected Party). If an early termination occurs due to a tender of the Bonds to the Bond Issuer, the Swap Termination Payment shall be paid prior to any payment on the Units.

Swap Termination Payments. The City shall not allow any Lien on General Airport Revenues securing any termination payment under any Swap Contract providing interest rate support to any Senior and Parity Debt to be first in priority to, or on parity with, the payment of the Covered Notes or any other Payment Obligation hereunder.

Swap Termination Payments. There is no lien on the Net Revenues securing any swap termination payments payable pursuant to any Swap Contract entered into by the City that is superior in priority to or on a parity with the lien securing the Bonds, the Bank Bonds and any other Obligations owed to the Bank hereunder or under the Bank Fee Agreement.

Swap Termination Payments. The District shall ensure that all termination payments, if any, under any interest rate swap agreement or similar instrument that are secured by Revenues shall be expressly subordinate to the repayment of the Bonds and Reimbursement Obligations.

Swap Termination Payments. The Borrower is not a party to any Swap Contract that is related to the Reimbursements.

Swap Termination Payments. The Department is not a party to any Swap Contract that provides that any termination payment thereunder is payable from or secured by Revenues on a basis that is senior to or on a parity with the lien securing the Bank Notes, the Advances, the Revolving Loans and the Term Loans.

Swap Termination Payments. If the Swap Agreement terminates, the Issuer may be obliged to pay a termination payment to the Swap Counterparty. The amount of any termination payment will be based on the market value of the terminated swap based on the losses, costs or gains to the Issuer and the Swap Counterparty under the then prevailing circumstances in replacing (or providing the economic equivalent of) the Swap Agreement. There can be no assurance that the Issuer will have sufficient funds available to make any termination payment under the relevant Swap Agreement or that the Issuer, following termination of the Swap Agreement, will have sufficient funds to make subsequent payments to the Noteholders in respect of the Class A Notes and Class B Notes and/or, in turn, the Class C Notes. Except where the Swap Counterparty has caused the Swap Agreement to terminate by its default or an Additional Termination Event (as defined in the Swap Agreement) occurs under the Swap Agreement as a result of a Initial Fitch Rating Event, Subsequent Fitch Rating Event, Initial S&P Rating Event or Subsequent S&P Rating Event (each as defined in the Swap Agreement), any termination payment in respect of the Swap Agreement due from the Issuer will rank in priority to payments of interest due on the Notes. Therefore, if the Issuer is obliged to make a termination payment to the 9 NTD: To be confirmed by BNPP after pricing. Swap Counterparty or to pay any other additional amount as a result of the termination of the Swap Agreement, this may reduce or otherwise adversely affect the amount of funds which the Issuer has available to make payments on the Notes. If the Swap Agreement terminates, there can be no assurance that the Issuer will be able to enter into a replacement swap agreement with a replacement swap counterparty with the relevant Required Ratings, to prevent the downgrading of the then current rating or ratings of the Notes by the Rating Agencies. The ratings assigned to the Class A Notes and Class B Notes by each of the Rating Agencies take into consideration the structural and legal aspects associated with the Class A Notes, the Class B Notes and the Portfolio, the credit quality of the Portfolio and the extent to which the Debtors' payments under the Purchased HP Contracts are adequate to make the payments required under the Class A Notes and Class B Notes as well as other relevant features of the structure, including, inter alia, the credit quality of the Swap Counterparty, the Transaction...