Cap Payment definition

Cap Payment. With respect to each Distribution Date, any payment required to be made by the Cap Counterparty to the Supplemental Interest Trust pursuant to the terms of the Cap Agreement.

Cap Payment means, for any Interest Period in which One-Month LIBOR (calculated in accordance with the Cap Agreement) exceeds 2.75%, an amount equal to the product of (x) the excess, if any, of One-Month LIBOR (calculated in accordance with the Cap Agreement) for the related Payment Date over 2.75%, (y) the notional amount of the cap for such Payment Date, as set forth in the Cap Agreement, and (z) a fraction, the numerator of which is the actual number of days elapsed in such Interest Period and the denominator of which is 360, which payment shall be deposited into the Collection Account by the Cap Counterparty on or before the second Business Day preceding the related Payment Date.

Cap Payment means any payment received by the Trust Collateral Agent under the Cap Agreement.

Examples of Cap Payment in a sentence

• All rights, liens and security interests or guarantees existing or following the date this financing statement is recorded, granted by a Cap Provider or any other person to secure or guaranty payment of any Cap Payment.

• The proceeds of the Subordinated Loan 1.6 Portfolio Informationwill be used to pay certain start-up costs and expenses incurred by the Issuer in connection with the issuance of the Notes including, but not limited to, the Initial Interest Rate Cap Payment to be paid on the Closing Date.

• The Interest Rate Cap Agreement, effective from, and including, the Closing Date to, and including, the First Optional Redemption Date, requires the Interest Rate Cap Provider, against payment of the Initial Interest Rate Cap Payment on the Closing Date, to make payments to the Issuer on a quarterly basis to the extent three-month EURIBOR for any Interest Period exceeds the cap strike rate of 3.5 per cent.

• All rights, liens and security interests or guarantees existing or following the date this financing statement is recorded, granted by a Rate Cap Provider or any other person to secure or guaranty payment of any Rate Cap Payment.

• The Interest Rate Cap Agreement, effective as from and including the Closing Date up to but excluding the First Optional Redemption Date, requires the Interest Rate Cap Provider, against payment of the Initial Interest Rate Cap Payment on the Closing Date, to make payments to the Issuer on a quarterly basis to the extent three-month EURIBOR for any Interest Period exceeds the Cap Strike Rate.

More Definitions of Cap Payment

Cap Payment. With respect to the Interest Rate Cap Agreement and for any Distribution Date, the amount, if any, required to be paid by the Cap Provider with respect to such Distribution Date under the Interest Rate Cap Agreement. Cap Provider: Goldman Sachs Mitsui Marine Derivative Products, L.P., a Delaware limitxx xxxxnxxxxxp, and its successors in interest, and any successor cap provider under any replacement Interest Rate Cap Agreement.

Cap Payment. With regard to each Cap Agreement and each Distribution Date on or prior to the Class I Termination Date, the excess, if any, of (a) the product of (i) the excess of LIBOR over the strike rate on the related Cap Agreement, (ii) the actual number of days elapsed in the related Accrual Period divided by 360 and (iii) the related notional amount over (b) the Cap Amount for the related Cap Agreement (so long as such calculation results in a positive number). The Cap Payment is subject to the verification and confirmation of the Cap Counterparties who are calculation agents for the Cap Agreements.

Cap Payment has the meaning defined in Section 3 hereof.

Cap Payment for any Payment Date through the Cap Contract Termination Date means the product of:

Cap Payment means, at any given time, a payment in the amount equal to (i) the then-applicable Cap Amount less (ii) 100% of all payments made in respect of the Purchased Assets received by the Purchaser pursuant to the Counterparty License Agreement or this Agreement through the date of such payment (determined net of any Indemnified Tax withheld in respect of any applicable payments). For the avoidance of doubt, the Cap Payment shall be calculated using the Cap Amount in effect on the date the Cap Payment is made to the Purchaser.

Cap Payment. With respect to the Cap Agreement and for any Distribution Date, the amount, if any, required to be paid by the Cap Provider on such Distribution Date under the Cap Agreement.

Cap Payment means, for any Interest Period in which [One-Month LIBOR] (calculated in accordance with the Cap Agreement) exceeds [__]%, an amount equal to the product of (x) the excess, if any, of [One-Month LIBOR] (calculated in accordance with the Cap Agreement) for the related Payment Date over [__]%, (y) [the notional amount of the cap for such Payment Date, as set forth in the Cap Agreement][the Note Balance of the Class [_] Notes immediately following the preceding Payment Date (or with respect to the first Payment Date, the Closing Date], and (z) a fraction, the numerator of which is the actual number of days elapsed in such Interest Period and the denominator of which is 360, which payment shall be deposited into the Collection Account by the Cap Counterparty on or before the second Business Day preceding the related Payment Date.]