Class B Swap Agreement definition

Class B Swap Agreement means the interest rate swap entered into by the Issuer and the Class B Swap Counterparty in relation to the Class B Notes on or about the Closing Date to be constituted by an ISDA Master Agreement, credit support annex and Schedule thereto and a confirmation documented thereunder.
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Class B Swap Agreement means the ISDA Master Agreement, together with the applicable schedule and confirmation, dated [*] June 2005 and made between the Issuer and the Swap Counterparty in respect of payments made under the Class B Notes;
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Class B Swap Agreement means the agreement dated on or about the Closing Date between Issuer, the Swap Counterparty and the Note Trustee, which provides for certain receipts of Issuer under and/or in respect of the Series 2006-2 Investor Interest denominated in Sterling to be converted into US Dollars, and vice versa by the Swap Counterparty and for certain other payments to be made in US Dollars by the Swap Counterparty and in Sterling by Issuer; ‘‘Class C’’ shall mean, where the context requires, each of
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Examples of Class B Swap Agreement in a sentence

  • The Issuer has limited resources available to meet its obligations The ability of the Issuer to meet its obligations in full to pay principal and interest on the Notes will be dependent on the receipt by it of (i) funds under the Loans, (ii) payments under the Class A Swap Agreement and the Class B Swap Agreement and(iii) interest in respect of the balance standing to the credit of the Issuer Accounts.

  • If the floating rate payable by the Class A Swap Counterparty and the Class B Swap Counterparty under respectively the Class A Swap Agreement and the Class B Swap Agreement is substantially greater than the fixed rate payable by the Issuer, the Issuer will be more dependent on receiving payments from the Class A Swap Counterparty and the Class B Swap Counterparty in order to make interest payments on respectively the Class A Notes and Class B Notes.

  • In particular, you should read Section 4.2.8 in relation to the risk that the Class A Swap Counterparty or the Class B Swap Counterparty will not perform its obligations owed to the Issuer under the Class A Swap Agreement or the Class B Swap Agreement.

  • The Issuer will enter into the Class A Swap Agreement with the Class A Swap Counterparty and into the Class B Swap Agreement with the Class B Swap Counterparty on the Closing Date in order to mitigate its interest rate risk, as the Loans owned by the Issuer bear interest at fixed rates or fixed rates subject to reset from time to time while the Notes will bear interest at floating rates.

  • The Issuer makes payments under the Class A Swap Agreement to the Class A Swap Counterparty and payments under the Class B Swap Agreement to the Class B Swap Counterparty on each Monthly Payment Date whereas the Class A Swap Counterparty and Class B Swap Counterparty only makes payments on Quarterly Payment Dates.

  • If the Class A Swap Counterparty and/or the Class B Swap Counterparty fails to make payments required under the Class A Swap Agreement or the Class B Swap Agreement, respectively, when due, and payments on the Notes may be reduced or delayed.

  • The Class A Swap Agreement and the Class B Swap Agreement are both based on the 1992/2002 ISDA Documentation and in relation to the Class A Swap Agreement only, the 1995 Credit Support Annex, as amended, which are each governed by English law.

  • To hedge the mismatch related to the difference in interest rates and also to cover part of the Initial Purchase Price corresponding to the accrued interest on the Loans, the Issuer shall on or before the Closing Date enter into a Class A Swap Agreement and a Class B Swap Agreement.

  • At the occasion of the Optional Tap Issue, the Issuer may either enter into an amendment agreement in connection with the Class A Swap Agreement and the Class B Swap Agreement or enter into a new ISDA Master Agreement (including a schedule, credit support annex (for the Class A Notes) and a confirmation documenting the transaction entered into thereunder) in connection with respectively the Additional Class A Notes and the Additional Class B Notes.

  • The Class A Swap Agreement and the Class B Swap Agreement are both based on the ISDA Documentation and in relation to the Class A Swap Agreement only, the 1995 Credit Support Annex, as amended, which are each governed by English law.


More Definitions of Class B Swap Agreement

Class B Swap Agreement means an ISDA Master Agreement between the Series [*] Issuer and the Swap Counterparty, including a schedule, credit support annex and one or more confirmations entered into pursuant thereto each of which relates to the Class B Notes of Series [*];
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Class B Swap Agreement means an ISDA Master Agreement between the Issuer and the Class B Swap Counterparty and one or more confirmations entered into pursuant thereto each of which relates to the Class B Notes of Series 2006-2; ‘‘Class C Credit Support Annex’’ means a 1995 ISDA Credit Support Annex (Bilateral Form – Transfer) to the Class C Swap Agreement entered into between the Issuer and the Class C Swap Counterparty in support of the obligations of the Class C Swap Counterparty under the Class C Swap Agreement;
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Class B Swap Agreement means the ISDA Master Agreement, together with the applicable schedule and confirmation, dated [ ] September 2003 and made between the Issuer and the Swap Counterparty in respect of payments made under the Class B Notes;
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Class B Swap Agreement means the currency and interest rate swap agreement relating to the Class B Notes of Series 2005-A entered into on or about the date of this Arran Funding Note Trust Deed Supplement between the Issuer and the Class B Swap Counterparty in relation to the exchange of US dollar amounts and sterling amounts;
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Related to Class B Swap Agreement

  • Secured Swap Agreement means a Swap Agreement between (x) any Loan Party and (y) a Secured Swap Provider.

  • Specified Swap Agreement any Swap Agreement entered into by the Borrower and any Qualified Counterparty (or any Person who was a Qualified Counterparty as of the Closing Date or as of the date such Swap Agreement was entered into) in respect of interest rates to the extent permitted under Section 7.13.

  • Swap Agreement means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower or the Subsidiaries shall be a Swap Agreement.

  • Interest Rate Swap Agreement means the agreement(s) (including any further replacement agreements) entered into between the Guarantor LP and the Interest Rate Swap Provider(s) in the form of an ISDA Master Agreement, as the same may be amended, varied, supplemented, restated or extended from time to time, including a schedule and confirmations in relation to each Tranche or Series of Covered Bonds;

  • Currency Swap Agreement means any currency swap agreement, including all schedules and confirmations thereto, entered into by the Issuer and the Currency Swap Counterparty, as the same may be amended, supplemented, renewed, extended or replaced from time to time.

  • Swap Agreements means, collectively, each Asset Swap Agreement, Liability Swap Agreement and any other swap agreement that may be entered into in connection with the Programme;

  • Fixed Swap Payment With respect to any Distribution Date, a fixed amount equal to the related amount set forth in the Interest Rate Swap Agreement.

  • Secured Swap Provider means (i) a Lender or an Affiliate of a Lender (or a Person who was a Lender or an Affiliate of a Lender at the time of execution and delivery of a Rate Contract) who has entered into a Secured Rate Contract with Borrower, or (ii) a Person with whom Borrower has entered into a Secured Rate Contract provided or arranged by GE Capital or an Affiliate of GE Capital, and any assignee thereof.

  • Cap Contract Any of the Class A-1 Cap Contract, the Class A-2 Cap Contract or the Subordinate Certificates Cap Contract.

  • Swap Agreement Obligations means any and all obligations of the Loan Parties and their Subsidiaries, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (a) any and all Swap Agreements permitted hereunder with a Lender or an Affiliate of a Lender, and (b) any and all cancellations, buy backs, reversals, terminations or assignments of any such Swap Agreement transaction.

  • Interest Hedge Agreement means an interest rate protection agreement that may be entered into between the Borrower and an Interest Hedge Counterparty on or after the Closing Date, for the sole purpose of hedging interest rate risk between the portfolio of Collateral Loans and the Loans, as amended from time to time in accordance with the terms thereof, with respect to which the Rating Condition is satisfied.

  • Interest Swap and Hedging Obligation means any obligation of any Person pursuant to any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate exchange agreement, currency exchange agreement or any other agreement or arrangement designed to protect against fluctuations in interest rates or currency values, including, without limitation, any arrangement whereby, directly or indirectly, such Person is entitled to receive from time to time periodic payments calculated by applying either a fixed or floating rate of interest on a stated notional amount in exchange for periodic payments made by such Person calculated by applying a fixed or floating rate of interest on the same notional amount.

  • Floating Swap Payment With respect to any Distribution Date, a floating amount equal to the product of (i) Swap LIBOR, (ii) the related Base Calculation Amount (as defined in the Interest Rate Swap Agreement), (iii) 250 and (iv) a fraction, the numerator of which is the actual number of days elapsed from and including the previous Floating Rate Payer Payment Date (as defined in the Interest Rate Swap Agreement) to but excluding the current Floating Rate Payer Payment (or, for the first Floating Rate Payer Payment Date, the actual number of days elapsed from the Closing Date to but excluding the first Floating Rate Payer Payment Date), and the denominator of which is 360.

  • Eligible Swap Counterparty means an entity, which may be an affiliate of a remarketing agent, engaged in the business of entering into derivative instrument contracts that satisfies the Rating Agency Condition.

  • Swap Contract means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement.

  • Interest Rate Cap Agreement means, as applicable, an Interest Rate Cap Agreement (together with the confirmation and schedules relating thereto) in form and substance reasonably satisfactory to Lender between Borrower and an Acceptable Counterparty or a Replacement Interest Rate Cap Agreement.

  • Replacement Interest Rate Cap Agreement means an interest rate cap agreement from an Acceptable Counterparty with terms identical to the Interest Rate Cap Agreement except that the same shall be effective in connection with replacement of the Interest Rate Cap Agreement following a downgrade, withdrawal or qualification of the long-term unsecured debt rating of the Counterparty; provided that to the extent any such interest rate cap agreement does not meet the foregoing requirements, a “Replacement Interest Rate Cap Agreement” shall be such interest rate cap agreement approved in writing by each of the Rating Agencies and Lender with respect thereto.

  • Interest Rate Swap means any interest rate swap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Cap Agreement means any interest rate cap agreement, interest rate swap agreement or other interest rate-hedging contract or agreement, in a form acceptable to Lender, obtained by Borrower from a Cap Provider as a requirement of any Loan Document or as a condition of Lender’s making the Loan.

  • Interest Rate Hedging Agreement means any interest rate protection agreement or other interest rate hedging arrangement.

  • Net Swap Payment With respect to each Distribution Date, the net payment required to be made pursuant to the terms of the Swap Agreement by either the Swap Provider or the Swap Administrator, which net payment shall not take into account any Swap Termination Payment.

  • Hedge Agreement means any interest rate, currency or commodity swap agreements, cap agreements, collar agreements, floor agreements, exchange agreements, forward contracts, option contracts or similar interest rate or currency or commodity hedging arrangements.

  • Credit Enhancement Agreement means the Agreement among the Sellers, the Master Servicer, the Trustee and the Credit Enhancement Provider with respect to the Credit Enhancement.

  • Hedging Agreement Provider means any Person that enters into a Secured Hedging Agreement with a Credit Party or any of its Subsidiaries that is permitted by Section 6.1(d) to the extent such Person is a Lender, an Affiliate of a Lender or any other Person that was a Lender (or an Affiliate of a Lender) at the time it entered into the Secured Hedging Agreement but has ceased to be a Lender (or whose Affiliate has ceased to be a Lender) under the Credit Agreement.

  • Interest Rate Hedge Agreement any interest rate swap agreement, interest rate cap, collar or other arrangement between the Borrower and a Hedge Provider, consisting of a “Master Agreement” in a form published by the International Swaps and Derivatives Association, Inc., together with a “Schedule” thereto in substantially such form as the Program Agent shall have approved, each “Confirmation” thereunder confirming the terms of each transaction thereunder and any credit support annex and schedule thereto.

  • Swap Provider means any Person that, at the time it enters into a Swap Agreement is a Lender or an Affiliate of a Lender, in its capacity as a party to such Swap Agreement.