Class B Net Swap Payment definition

Class B Net Swap Payment means, with respect to any Payment Date, any net amount payable by the Issuer under the Class B Swap as a result of LIBOR being less than the Class B Swap Rate. For the avoidance of doubt, Class B Net Swap Payments do not include early termination payments or payment of breakage or other miscellaneous costs.
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Class B Net Swap Payment means, with respect to any Payment Date, any net amount payable by the Issuer under the Class B Swap as a result of LIBOR being less than the Class B Swap Rate. For the avoidance of doubt, Class B Net Swap Payments do not include early termination payments or payment of breakage or other miscellaneous costs.]
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Class B Net Swap Payment means, for any Distribution Date, the net amount payable by the Trust to the Hedge Counterparty pursuant to the Class B Swap on that Distribution Date as a result of LIBOR being less than the Class B Swap Rate. For the avoidance of doubt, Class B Net Swap Payments do not include Hedge Termination Fees or payment of breakage or other miscellaneous costs.
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Examples of Class B Net Swap Payment in a sentence

  • On any Payment Date when there shall be a Class B Net Swap Payment, the Issuer shall pay such Class B Net Swap Payment subject to the priority of payments set forth in Section 4.4(a)(iv).

  • On any Distribution Date when there shall be a Class B Net Swap Payment, such Class B Net Swap Payment shall be paid as provided in subsection 4.4(a)(iii).

  • If the Class A Available Funds, the Class M Available Funds or the Class B Available Funds are insufficient to pay the Class A Net Swap Payment, the Class M Net Swap Payment and the Class B Net Swap Payment, respectively, the Class A Net Swap Payment, the Class M Net Swap Payment, and the Class B Net Swap Payment will be paid from the Excess Spread and Shared Excess Finance Charge Collections, as provided in Sections 4.11(a), 4.11(c), 4.11(e) and 4.14(b).

  • On any Distribution Date when there shall be a Class B Net Swap Payment, such Class B Net Swap Payment shall be paid as provided in subsection 4.4(a)(ii).

  • On any Distribution Date when the Class A Net Swap Payment, the Class M Net Swap Payment or the Class B Net Swap Payment is greater than zero, the Trustee shall pay such Class A Net Swap Payment, Class M Net Swap Payment or Class B Net Swap Payment from the Class A Available Funds, the Class M Available Funds and the Class B Available Funds, respectively, as provided in Sections 4.9(a), 4.9(b) and 4.9(c).

  • On any Distribution Date when there shall be a Class B Net Swap Payment, such Class B Net Swap Payment shall be paid as provided in subsection 4.4(a)(ii) of the Indenture Supplement.

  • On any Distribution Date when there shall be a Class B Net Swap Payment, such Class B Net Swap Payment shall be paid as provided in SUBSECTION 4.4(a)(ii).


More Definitions of Class B Net Swap Payment

Class B Net Swap Payment means, for any Payment Date, the net amount payable by the Issuer under the Class B Swap Agreement (excluding any Class B Swap Termination Payment).
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Class B Net Swap Payment means, for any Transfer Date, the ------------------------ amount by which the Class B Floating Amount for such date exceeds the Class B Fixed Amount for such date.
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Class B Net Swap Payment means, with respect to any Distribution Date, the net amount due the Swap Counterparty for such Distribution Date, if any, as determined pursuant to the Class B Interest Rate Swap.
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