Approved Swap Agreement definition

Approved Swap Agreement means each agreement authorized by the Board constituting a “bond enhancement agreement” under Section 65.461, Texas Education Code, as amended, and/or a “credit agreement” under Chapter 1371, Texas Government Code, as amended, in relation to the payment or exchange of payments on PUF Bonds.
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Approved Swap Agreement means each interest rate, currency or other similar swap or hedging agreement between Borrower and any Lender, as amended or replaced from time to time.
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Approved Swap Agreement means a Swap Agreement with any Approved Counterparty entered into in the ordinary course of business by any Credit Party for purposes of fixing prices and not for speculative purposes. For the avoidance of doubt, Approved Swap Agreements must be in the form of puts, floors, swap agreements and collars, but shall exclude put options, “put spreads”, and “three way collars” (as such terms are commonly understood by swap dealers); provided that the price floor for any such put or collar shall be set at an amount no less than 15% below the Five Year Strip Price, determined as of the date of purchase of such put or collar.
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Examples of Approved Swap Agreement in a sentence

  • Any obligation owed to a Bank under an Approved Swap Agreement shall rank pari passu with the Obligations under the Loan Documents up to an amount equal to the risk assessment factor then generally utilized by the Administrative Agent in assessing similar interest rate protection agreements times the notional amount of Indebtedness covered by that Approved Swap Agreement, and shall be subordinate to the Obligations under other Loan Documents to the extent of any excess over such amount.

  • Each Approved Swap Agreement shall be secured by the Lien of the Collateral Documents (a) on a pari ---- passu basis to the extent of the associated Swap Termination Value, and (b) to ----- the extent of any excess, on a basis which is in all respects subordinated to all other Obligations.

  • Any obligation owed to a Lender under the Approved Swap Agreement shall rank pari passu with the Obligations under the Loan Documents.

  • Each Approved Swap Agreement shall be secured by the Lien of the Collateral Documents (a) on a pari passu basis to the extent of the associated Swap Termination Value, and (b) to the extent of any excess, on a basis which is in all respects subordinated to all other Obligations.

  • Any obligation owed to a Lender under the Approved Swap Agreement shall rank PARI PASSU with the Obligations under the Loan Documents.

  • Any obligation owed to a Lender under an Approved Swap Agreement shall rank pari passu with the Obligations under the ---- ----- Loan Documents up to an amount equal to the Swap Termination Value (as determined by the -88- Administrative Agent) of that Approved Swap Agreement, and shall be subordinate to the Obligations under other Loan Documents to the extent of any excess over such amount.

  • In highly distressed areas, the MTO prescribes hand HMA patching to avoid future distress propagation.

  • Each Approved Swap Agreement shall be secured by the Lien of the Collateral Documents (a) on a pari passu basis to the extent of the Bank of America's risk assessment factor times the notional amount thereof, and (b) to the extent of any excess, on a basis which is in all respects subordinated to all other Obligations.

  • Section 13.1 RBC Swap Agreement as Approved Swap Agreement and Parity Swap Agreement.

  • Any obligation owed to a Lender under an Approved Swap Agreement shall rank pari passu with the Obligations under the Loan Documents up to an amount equal to the Swap Termination Value (as determined by the Administrative Agent) of that Approved Swap Agreement, and shall be subordinate to the Obligations under other Loan Documents to the extent of any excess over such amount.


More Definitions of Approved Swap Agreement

Approved Swap Agreement means an agreement with respect to the exchange of payments representing interest rates entered into by the Joint Venture in compliance with and according to the terms of the US$ Senior Loan Contract.
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Approved Swap Agreement means each interest rate, currency or
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Approved Swap Agreement means either (i) an interest rate swap agreement, interest rate cap or other agreement of a type described in Section 2.12 with respect to which the Agency’s obligations to make payments is a subordinate obligation issued pursuant to Section 5.16 or (ii) a Parity Swap Agreement which, in either case, has been approved as not causing a reduction or withdrawal of the rating then assigned to Bonds, by each Rating Agency.
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Approved Swap Agreement means each Swap Agreement between Borrower and a Lender.
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Approved Swap Agreement means each interest rate, currency or other similar swap or hedging agreement between Borrower and any Lender, either as originally executed or as the same may from time to time be supplemented, modified, amended, renewed, extended, replaced or supplanted.
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Approved Swap Agreement the term "Lender" shall also include any Affiliate of a Lender which enters into a Swap Agreement which expressly relates to the Indebtedness evidenced by this Agreement and the Loan Documents.
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Related to Approved Swap Agreement

  • Secured Swap Agreement means a Swap Agreement between (x) any Loan Party and (y) a Secured Swap Provider.

  • Swap Agreement means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower or the Subsidiaries shall be a Swap Agreement.

  • Approved Counterparty means (a) any Lender or any Affiliate of a Lender and (b) any other Person whose long term senior unsecured debt rating is A-/A3 by S&P or Xxxxx’x (or their equivalent) or higher.

  • Hedge Agreement means an Interest Rate Agreement or a Currency Agreement designed to hedge against fluctuations in interest rates or currency values, respectively.

  • Hedging Agreements means, collectively, interest rate protection agreements, equity index agreements, foreign currency exchange agreements, option agreements or other interest or exchange rate or commodity price hedging agreements (other than forward contracts for the delivery of power or gas written by the Borrower to its jurisdictional and wholesale customers in the ordinary course of business).

  • Interest Hedge Agreement means an interest rate protection agreement that may be entered into between the Borrower and an Interest Hedge Counterparty on or after the Closing Date, for the sole purpose of hedging interest rate risk between the portfolio of Collateral Loans and the Loans, as amended from time to time in accordance with the terms thereof, with respect to which the Rating Condition is satisfied.

  • Commodity Hedging Agreement means a commodity price risk management or purchase agreement or similar arrangement (including commodity price swap agreements, forward agreements or contracts of sale which provide for prepayment for deferred shipment or delivery of oil, gas or other commodities).

  • Secured Hedging Agreement means any Hedging Agreement between a Credit Party and a Hedging Agreement Provider, as amended, restated, amended and restated, modified, supplemented or extended from time to time.