Examples of Commercial Paper Funding in a sentence
In order to mitigate losses, certain triggers are predefined in the Receivable Purchase Agreements between the respective seller and the respective Purchaser and also in the Commercial Paper Funding Agreements between the Purchaser and the Company.
These triggers are designed to provide for the early termination of the Receivable Purchase Agreements and/or the Commercial Paper Funding Agreements to avoid and/or limit the potential loss by both the purchasers and the Company.
Subsequently, the Fed announced an unlimited purchase program, considered consistent with the ongoing emergency, and the Commercial Paper Funding Facility26 (CPFF) was introduced to facilitate lending to households and businesses, as already happened in 2008.
The Purchaser and the Administrative Agent acknowledge that no Breakage Payments or deposits into the Commercial Paper Funding Account will be required with respect to Notes redeemed and reissued on the same day.
Pending such transfers, moneys in the Commercial Paper Funding Account shall be invested by the Administrative Agent in obligations that are rated A-1+ by S&P and P-1 by Xxxxx'x.
In addition, in connection with any such purchase, the Seller will be obligated to fund the Commercial Paper Funding Account if and as required by Section 2.10 hereof.
Moneys in the Commercial Paper Funding Account shall be transferred to the Collateral Agent on each maturity date of Commercial Paper Notes in an amount sufficient to repay such Commercial Paper Notes.
If for any Interest Accrual Period, or any portion thereof, the Class A Notes Interest Rate, the Class B Notes Interest Rate or the Class C Notes Interest Rate for all or a portion of such Notes is determined by reference to the Commercial Paper Funding Rate, then the Trustee shall determine the Commercial Paper Funding Rate for the respective Notes on the basis of written notice received from the applicable Managing Agent.
For purposes of this definition and its use in this Agreement, the Commercial Paper Rate established by MMP-5 or another CP Conduit shall be associated with the Commercial Paper Funding undertaken by MMP-5 or such other CP Conduit, as the case may be.
Forward Looking Statements: This presentation contains forward-looking statements as defined by United States securities laws, including statements about certain existing and announced Federal Reserve facilities, the ABCP Money Market Liquidity Facility and the Commercial Paper Funding Facility and the effects of these facilities on State Street’s business, financial condition, results of operations and strategies.