Cap Provider definition

Cap Provider means the third-party financial institution approved by Lender that is the counterparty under any Cap Agreement or Replacement Cap Agreement.

Cap Provider means the interest rate cap provider or other counterparty to a Cap Agreement or any guarantor of the obligations of any such cap provider or counterparty.

Cap Provider means a third party cap provider having a rating acceptable to the Rating Agencies.

Examples of Cap Provider in a sentence

• Borrower will instruct each Cap Provider and any guarantor of a Cap Provider’s obligations to make Cap Payments directly to Lender or to Loan Servicer on behalf of Lender.

• Borrower has instructed each Cap Provider and any guarantor of a Cap Provider’s obligations to make Cap Payments directly to Lender or to Loan Servicer on behalf of Lender.

• The Cap Agreement, including any Replacement Cap Agreement, must be from a Cap Provider, be in a form acceptable to Lender, and obligate the Cap Provider to make monthly payments directly to Lender or to Loan Servicer on behalf of Lender in an amount equal to the excess of (i) the interest on the Notional Amount at the Rate Cap Index Rate over (ii) interest on the Notional Amount at the Strike Rate.

• The Deposit Account Bank will notify the Issuer, the Interest Rate Cap Provider, the Administrator and the Trustee immediately if, at any time before this Agreement is terminated in accordance with clause 16 (Termination and Resignation), any of the representations and warranties contained in clause 11 (Deposit Account Bank Representations and Warranties) cease to be true.

• Lender may direct Cap Provider to make all future Cap Payments to Lender or to the Loan Servicer rather than to Borrower.

More Definitions of Cap Provider

Cap Provider. Barclays Bank PLC, a bank authorized and regulated by the United Kingdom's Financial Services Authority and a member of the London Stock Exchange, and its successors in interest.

Cap Provider. The counterparty (or any guarantor) to the Trustee required to make payments to the Trust Fund under the Cap Agreement.

Cap Provider means an unaffiliated third party, as cap provider, under each Initial Interest Rate Cap Agreement, or any successor or replacement cap provider (including any Replacement Cap Provider) from time to time.]

Cap Provider. JPMorgan Chase Bank, National Association.

Cap Provider. Bear Xxxxxxx Financial Products Inc.

Cap Provider has the meaning set forth in Section 2.3.

Cap Provider. The Bank of New York.