Cap Termination Payment definition

Cap Termination Payment. Upon the designation of an “Early Termination Date” as defined in the Cap Agreement, the payment required to be made by the Cap Counterparty to the Supplemental Interest Trust pursuant to the terms of the Cap Agreement and any unpaid amounts due on previous Cap Payment Dates and accrued interest thereon as provided in the Cap Agreement, as calculated by the Cap Counterparty and furnished to the Securities Administrator.

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Cap Termination Payment. Upon an optional termination pursuant to Section 7.01(b), any payment required to be made to the Cap Provider or by the Cap Provider to the applicable trust pursuant to the terms of the applicable Deferred Interest Cap Agreement, and any unpaid amounts due on previous Cap Payment Dates and accrued interest thereon as provided in the applicable Deferred Interest Cap Agreement, as calculated by the Cap Provider and furnished to the Trustee. Capitalized Interest Account: Not applicable.

Cap Termination Payment means payments due to the Issuing Entity by the Cap Provider under an Interest Rate Cap Agreement, including interest that may accrue thereon, due to a termination of such Interest Rate Cap Agreement due to an “event of default” or “termination event” under such Interest Rate Cap Agreement.]

Examples of Cap Termination Payment in a sentence

The Cap Trustee shall segregate and hold all funds received from the Cap Provider (including any Cap Termination Payment) separate and apart from any of its own funds and general assets and shall establish and maintain in the name of the Cap Trustee one or more segregated accounts (the “Cap Trust Account”).
Any Cap Termination Payment received by the Cap Trustee from the Cap Provider shall be deposited into the Cap Trust Account and shall be used to make any upfront payment required under a replacement cap contract and any upfront payment received from the counterparty to a replacement cap contract shall be used to pay any Cap Termination Payment owed to the Cap Provider.
Any Cap Termination Payment received by the Cap Administrator shall be deposited in the Cap Account and shall be used to make any upfront payment required under a replacement cap contract.
Notwithstanding the foregoing, for purposes of the REMIC Provisions, any portion of the Repurchase Price consisting of any Swap Termination Payment, Cap Termination Payment or NIM Redemption Amount shall be treated as not having been paid into any REMIC.
The Cap Administrator shall segregate and hold all funds received from Cap Provider pursuant to the Cap Contract (including any Cap Termination Payment) separate and apart from any of its own funds and general assets and shall establish and maintain in the name of the Cap Administrator one or more segregated accounts (such account or accounts, the "Cap Account"), held in trust for the benefit of the Trustee, the Trust Administrator, the Indenture Trustee Administrator and the parties to this Agreement.
By way of example, a Mortgage Loan would be delinquent with respect to a Scheduled Payment or Cap Termination Payment due on a Due Date if such Scheduled Payment is not made by the close of business on the Mortgage Loan’s next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Scheduled Payment if such Scheduled Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date.
Any Cap Termination Payment received by the Cap Trustee, on behalf of the Cap Trust, from the Cap Provider shall be deposited into a separate, non-interest bearing account, established by the Cap Trustee and shall be used to make any upfront payment required under a replacement Cap agreement and any upfront payment received from the counterparty to a replacement Cap agreement shall be used to pay any Cap Termination Payment owed to the Cap Provider.
The Cap Administrator shall segregate and hold all funds received from Bear ▇▇▇▇▇▇▇ pursuant to the Cap Contract (including any Cap Termination Payment) separate and apart from any of its own funds and general assets and shall establish and maintain in the name of the Cap Administrator one or more segregated accounts (such account or accounts, the “Cap Account”), held in trust for the benefit of the Trustee, the Trust Administrator, the Indenture Trustee Administrator and the parties to this Agreement.
If the Cap Supplemental Interest Trust Trustee receives a Cap Termination Payment (as defined in the Cap Agreement) from the Cap Provider in connection with such Cap Early Termination, the Cap Supplemental Interest Trust Trustee will apply such cap Termination Payment to any upfront payment required to appoint the successor cap provider.
On each Payment Date, if necessary to cover the obligations of the Cap Counterparty to the Issuing Entity under the Interest Rate Cap Agreement, the Indenture Trustee will transfer from available amounts either (x) the Cap Payment for the related Payment Date to the Collection Account or (y) the Cap Termination Payment to the Cap Termination Payment Account, as applicable.

More Definitions of Cap Termination Payment

Cap Termination Payment means any termination payment payable by the Cap Provider to the Issuer under the Interest Rate Cap Agreement.

Cap Termination Payment. Upon an optional termination pursuant to Section 7.01(b) and to the extent such payments or amounts are related to the Mortgage Pool or Mortgage Pools being terminated, any payment required to be made to the applicable Cap Provider or by the applicable Cap Provider to the Trustee pursuant to the terms of the Interest Rate Cap Agreement or applicable Deferred Interest Cap Agreement, and any unpaid amounts due on previous Cap Payment Dates and accrued interest thereon as provided in the Interest Rate Cap Agreement or applicable Deferred Interest Cap Agreement, as calculated by the applicable Cap Provider and furnished to the Trustee. Capitalized Interest Account: Not applicable. Capitalized Interest Amount: Not applicable.

Cap Termination Payment. The amount, if any, owed by the Cap Provider to the Supplemental Interest Trust upon a Cap Early Termination.

Cap Termination Payment. The payment payable to the Trust Fund under the Cap Contract due to an early termination of the Cap Contract.