Cap Counterparty definition

Cap Counterparty. Not applicable.

Cap Counterparty. The Royal Bank of Scotland plc.

Cap Counterparty means Bank of America, N.A., or any Eligible Replacement Cap Counterparty, to the extent such Eligible Replacement Cap Counterparty replaces the existing Cap Counterparty under the Cap Agreement or any replacement interest rate cap agreement.

Examples of Cap Counterparty in a sentence

• The Cap Collateral Account shall be subject to a tri-party account control agreement to be entered into among the Cap Counterparty, the Issuer and the Cap Custodian (the “Control Agreement”).

• In the event that the Cap Custodian no longer satisfies the requirements set forth in the immediately preceding sentence, the Issuer, the Servicer and the Cap Counterparty shall use their reasonable best efforts to move the Cap Collateral Account and any collateral posted therein to another financial institution satisfying the requirements set forth in the immediately preceding sentence within sixty (60) calendar days.

• The only permitted withdrawal from or application of funds on deposit in, or otherwise to the credit of, the Cap Collateral Account shall be (i) for application to obligations of the Cap Counterparty to the Issuer under the Cap Agreement in accordance with the terms of the Cap Agreement or (ii) to return collateral to the Cap Counterparty when and as required by the Cap Agreement or applicable law.

• All of the rights of the Cap Counterparty in, to and under this Agreement or any other Transaction Document, other than the Cap Agreement (including, but not limited to, the Cap Counterparty’s rights to receive notice of any action hereunder or under any other Transaction Document and to give or withhold consent to any action hereunder or under any other Transaction Document), shall terminate upon the termination of the Cap Agreement in accordance with the terms thereof.

• Investment earnings on the Cap Collateral Account, if any, will be distributed to the Cap Counterparty.

More Definitions of Cap Counterparty

Cap Counterparty. The Bank of New York.

Cap Counterparty is as identified in the Adoption Annex.

Cap Counterparty. Swiss Re Financial Products Corporation.

Cap Counterparty. The counterparty to the Supplemental Interest Trust under the Interest Rate Cap Agreement, and any successor in interest or assigns. Initially, the Cap Counterparty shall be IXIS Financial Products Inc.

Cap Counterparty. A Hedge Counterparty.

Cap Counterparty means Royal Bank of Canada, as a party to the initial Interest Rate Cap Agreement, and each other Eligible Cap Counterparty that enters into an Eligible Interest Rate Cap relating to the Series 2017-VFN Notes.

Cap Counterparty means any entity which has entered into an Eligible Interest Rate Cap with the Transferor.