Asset Swap Transaction means each asset swap transaction entered into under a 1992 ISDA Master Agreement (Multicurrency-Cross Border) or 2002 ISDA Master Agreement (or such other ISDA pro forma master agreement as may be published by ISDA from time to time) (together with the schedule and confirmation relating thereto, including any guarantee thereof and any credit support annex entered into pursuant to the terms thereof, and each as amended or supplemented from time to time, an “Asset Swap Agreement”) entered into by the Issuer with an Asset Swap Counterparty in connection with a Non-Euro Obligation under which the Issuer swaps cash flows receivable on such Non-Euro Obligation for Euro-denominated cash flows from such Asset Swap Counterparty.
Asset Swap Transaction means in respect of a Non-Euro Obligation, an asset swap transaction entered into in respect thereof on the terms described in the Portfolio Management Agreement under an Asset Swap Agreement.
Asset Swap Transaction means a substantially concurrent purchase and sale, or exchange, of a Broadcasting Asset of the Borrower, or all the Equity Interests in a Subsidiary owning a Broadcasting Asset, for a Broadcasting Asset of another Person or group of affiliated Persons, or all the Equity Interests in a Person or group of affiliated Persons owning a Broadcasting Asset, provided that (a) the portion of Broadcast Cash Flow (for the period of four consecutive fiscal quarters most recently ended prior to the date of such transaction for which financial statements are available) attributable to the Broadcasting Asset being sold or exchanged and all other Broadcasting Assets so sold or exchanged pursuant to such transactions during such period or subsequent to the end of such period and on or prior to the date of determination shall not exceed 20% of the Broadcast Cash Flow of the Borrower for such period, (b) the portion of Broadcast Cash Flow (for the period from the Effective Date to and including the last day of the period of four consecutive fiscal quarters most recently ended prior to the date of such transaction for which financial statements are available) attributable to the Broadcasting Asset being sold or exchanged and all other Broadcasting Assets so sold or exchanged pursuant to such transactions during such period or subsequent to the end of such period and on or prior to the date of determination shall not exceed 45% of the Broadcast Cash Flow of the Borrower for such period and (c) the Borrower provides the Administrative Agent with appropriate supporting documentation if reasonably requested by the Administrative Agent, including any asset purchase and sale or exchange agreement in connection with such transaction, opinions of counsel in connection therewith and copies of an FCC consent on Form 732 (or any comparable form issued by the FCC) relating to the transfer of control or assignment of the FCC Licenses of the acquired Broadcasting Asset to the Borrower or its Subsidiaries and, unless the Administrative Agent shall otherwise agree, such consent shall have become a Final Order. For purposes of determining the portion of Broadcast Cash Flow attributable to a Broadcasting Asset pursuant to clause (a) or (b) above, if such Broadcasting Asset was acquired by a Loan Party subsequent to the first day of the relevant period for which the determination is being made, then the portion of Broadcast Cash Flow attributable to such Broadcasting Asset for such period shal...
Examples of Asset Swap Transaction in a sentence
In the event that the terms of the Asset Swap Transaction provide for the Asset Swap Calculation Agent to make a determination or calculation pursuant to the Asset Swap Transaction (in accordance with the terms of the Asset Swap Transaction), such determination or calculation shall be made in good faith and in a commercially reasonable manner.
Notwithstanding that Non-Euro Obligations are required to have an associated Asset Swap Transaction which will include currency protection provisions, losses may be incurred due to fluctuations in the Euro exchange rates in the event of a default under any such Asset Swap Transaction or the sale of the related Non-Euro Obligation.In addition, fluctuations in Euro exchange rates may result in a decrease in value of the Portfolio for the purposes of sale thereof upon enforcement of the security over it.
Upon the termination of the Asset Swap Transaction the Issuer will no longer receive amounts from the Swap Counterparty with which to fund interest payments under the Notes.
Investors should note that the Asset Swap Transaction will terminate on or shortly after the Bond Collateral Liquidation Date.
Under the terms of the Asset Swap Transaction, on the Issue Date the Issuer will pay to the Swap Counterparty the issue proceeds of the Notes and the Swap Counterparty will deliver the Initial Bonds to the Custodian for the account of the Issuer.
More Definitions of Asset Swap Transaction
Asset Swap Transaction means each asset swap transaction entered into under an Asset Swap Agreement.
Asset Swap Transaction means each asset swap transaction entered into under a 1992 or 2002 ISDA Master Agreement (Multicurrency-Cross-Border) (or such other ISDA pro forma Master Agreement as may be published by ISDA from time to time), together with the schedule and confirmation relating thereto including any guarantee thereof and any credit support annex entered into pursuant to the terms thereof, each as amended or supplemented from time to time, an “Asset Swap Agreement” entered into by the Issuer with an Asset Swap Counterparty, including any Replacement Asset Swap Transaction.
Asset Swap Transaction means each asset swap transaction entered into under an Asset Swap Agreement for the sole purpose described in the definition of Asset Swap Agreement.
Asset Swap Transaction means each cross currency asset swap transaction entered into by the Issuer pursuant to a confirmation to an Asset Swap Agreement in respect of a Non-Euro Obligation;
Asset Swap Transaction means each asset swap transaction entered into pursuant to a Hedge Agreement by the Issuer with a Hedge Counterparty in connection with Non-Euro Portfolio Collateral under which the Issuer swaps cash flows receivable on such Non-Euro Portfolio Collateral for Euro denominated cash flows from such Hedge Counterparty.
Asset Swap Transaction means each asset swap transaction entered into under a 1992 ISDA Master Agreement (Multicurrency-Cross Border Currency) or 2002 ISDA Master Agreement (or such other ISDA pro forma master agreement as may be published by ISDA from time to time) (together with the schedule and confirmation relating thereto, including any guarantee thereof and any credit support annex entered into pursuant to the terms thereof, and each as amended or supplemented from time to time, with, prior to the occurrence of a Class A Controlling Party Termination Event, the approval in writing of a majority of the Controlling Class (such approval not to be unreasonably withheld and a decision to be provided within 21 days of receipt of a request for such approval), an “Asset Swap Agreement”) entered into by the Issuer with an Asset Swap Counterparty in connection with a Non-Euro Obligation under which the Issuer swaps cash flows receivable on such Non-Euro Obligation for Euro-denominated cash flows from such Asset Swap Counterparty.
Asset Swap Transaction the Borrower for such immediately preceding four-fiscal-quarter period, (ii) the Consolidated EBITDA of the Broadcasting Asset being sold or exchanged plus the Consolidated EBITDA of all Broadcasting Assets that were sold pursuant to subsection 7.5(h) or exchanged pursuant to subsection 7.5(i) in such fiscal quarter and in the immediately preceding eight-fiscal-quarter period shall not exceed 40% of the Consolidated EBITDA of the Borrower for such eight-fiscal-quarter period and (iii) the Consolidated EBITDA of the Broadcasting Asset being sold or exchanged plus the Consolidated EBITDA of all Broadcasting Assets that were sold pursuant to subsection 7.5(h) or exchanged pursuant to subsection 7.5(i) in such fiscal quarter and in the preceding twenty-fiscal-quarter period shall not exceed 60% of the Consolidated EBITDA of the Borrower for such twenty-fiscal-quarter period, (d) any Net Cash Proceeds of such Asset Swap Transaction shall be deemed Net Cash Proceeds of an Asset Sale, and shall be applied pursuant to subsection 2.9(d) or reinvested pursuant to subsection 2.9(b), (e) the Borrower provides the Administrative Agent with a certificate showing compliance with all of the covenants contained in subsection 7.1, (f) the Borrower takes such actions as may be required or reasonably requested to ensure that the Administrative Agent, for the ratable benefit of the Lenders, has a perfected first priority security interest in any assets required to be secured pursuant to subsection 6.10 or any other Loan Document, subject to Liens permitted by subsection 7.3, and (g) the Borrower provides the Administrative Agent with appropriate supporting documentation if reasonably requested by the Administrative Agent, including, without limitation, any exchange agreement in connection with such transaction, opinions of counsel, including FCC counsel, in connection therewith and copies of an FCC consent on Form 732 (or any comparable form issued by the FCC) relating to the transfer of control or assignment of the Station Licenses of the acquired Broadcast Station to the Borrower or its Subsidiary and, unless the Administrative Agent shall otherwise agree, such consent shall have become a Final Order.