Basis Swap definition

Basis Swap means a commodity derivative contract that is cash-settled based on the difference between: (a) the price of natural gas at one particular pricing point and (b) the price of natural gas at a different delivery location or pricing point.

Basis Swap means the Transaction entered into between Party A, Party B and the Manager on the terms specified in the form of the Confirmation set out in Annexure 1 (or as otherwise agreed between Party A, Party B and the Manager).

Basis Swap. A contract in which two parties exchange cash flows linked to the difference between the price of a specific quantity of commodities at a particular physical location or quality / grade and the price of the same quantity of commodities on an organized exchange at a different physical location or of a different quality/grade. Cap: Contract which has a maximum price. This is generally purchased by customers that want the opportunity to benefit from expected future price declines, though want to limit their exposure to future price increases.

Examples of Basis Swap in a sentence

• If the Servicer is notified of a Threshold Rate under clause 9.1, it will, not more than 7 Business Days following the date on which the Basis Swap is terminated, ensure that the interest rate payable on each Purchased Receivable which is subject to a variable rate is set not less than the Threshold Rate and shall promptly notify the relevant Obligors of the change in accordance with the Receivable Agreements.

• The basis risk between the floating rate obligations of the Trustee (including interest payable on the Notes) and the variable housing rates set by Westpac will be hedged by means of the Basis Swap.

• Vanilla Basis Swap – float rate leg versus floating rate leg within a single eligible currency.

• Westpac is acting in the capacities of Redraw Facility Provider, Liquidity Facility Provider, Basis Swap Provider and Interest Rate Swap Provider.

• The following is an Additional Termination Event in relation to which Party B is the only Affected Party and the Basis Swap is the only Affected Transaction: If, on any day on which the weighted average Mortgage Rate applicable to the Mortgage Loans forming part of the Assets of the Series Trust which are charged interest at a variable rate is equal to or greater than the then Threshold Rate, Party A notifies Party B and each Rating Agency of its intention to terminate the Basis Swap.

More Definitions of Basis Swap

Basis Swap has the same meaning as in the Interest Rate Swap Agreement.

Basis Swap means the Transaction entered into between Party A, Party B and the Global Trust Manager on the terms specified in the form of the Confirmation set out in Annexure 1 (or as otherwise agreed between Party A, Party B and the Global Trust Manager).

Basis Swap means a basis swap in which both legs reference standard indices over the same currency and a horizon of up to 12 months.

Basis Swap means the Transaction entered into between Party A, Party B and the Trust Manager on the terms specified in the form of the Confirmation set out in Annexure 1 (or as otherwise agreed between Party A, Party B and the Trust Manager).

Basis Swap means the ISDA Master Agreement, together with the Schedule and Confirmation thereto, each dated as of the Closing Date, between the Trustee, on behalf of the Trust, and the Swap Counterparty, as such Basis Swap may be amended, modified or replaced.

Basis Swap. A transaction in which one party pays periodic amounts of a given currency based on a floating rate (usually NYMEX +/- basis rate) and the other party pays periodic amounts of the same currency based on another floating rate (usually an index such as Inside FERC), with both rates reset periodically.

Basis Swap. Each of the 2007-RN1 Note Basis Swap, the Class A Term Note Basis Swap, the Class B Term Note Basis Swap, the Class C Term Note Basis Swap and any other basis swap for a series of Notes or class of Certificates entered into between the Issuing entity and the Swap Counterparty, as each of the same may be amended, supplemented, renewed, extended or replaced from time to time. From and after the date, if any, on which any Contingent Basis Swaps become effective as provided in the Triparty Agreement, each shall constitute an “Basis Swap” for all purposes under the Basic Documents.