Covered Bond Swap Rate definition

Covered Bond Swap Rate means in relation to a Covered Bond or Tranche or Series of Covered Bonds, the exchange rate specified in the Covered Bond Swap Agreement relating to such Covered Bond or Tranche or Series of Covered Bonds or, if the Covered Bond Swap Agreement has terminated, the applicable spot rate;

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Covered Bond Swap Rate means, in respect of a Covered Bond, the exchange rate specified in the Currency Hedging Agreement relating to the Series of which such Covered Bond is a part, or, if there is no Currency Hedging Agreement relating to such Series (including if the Currency Hedging Agreement for such Series has been terminated), the applicable Spot Rate.

Covered Bond Swap Rate means, in respect of a Covered Bond, the exchange rate specified in the agreement among the Issuer, the relevant currency hedge provider and the Security Agent governing a foreign exchange transaction (the “Currency Hedging Agreement”) relating to the Series of

Examples of Covered Bond Swap Rate in a sentence

• In connection with any meeting of the holders of Covered Bonds of more than one Series the Covered Bonds of any Series not denominated in CAD shall be converted into CAD at the applicable Covered Bond Swap Rate.

• In connection with any meeting of the holders of Covered Bonds of more than one Series the Covered Bonds of any Series not denominated in Canadian dollars shall be converted into Canadian dollars at the applicable Covered Bond Swap Rate.

• In connection with any meeting of the holders of Covered Bonds of more than one Series the Covered Bonds of any Series not denominated in euros shall be converted into euros at the applicable Covered Bond Swap Rate.

• All payments of any amounts due in respect of, under and in connection with the trust presents and the Covered Bonds of any Series to the relevant Covered Bondholders, Receiptholders and Couponholders shall be made in the relevant currency all in accordance with the Conditions and converted at the relevant Covered Bond Swap Rate (if necessary).

• All payments of any amounts due in respect of, under and in connection with this Bond Trust Deed and the Covered Bonds of any Series to the relevant Covered Bondholders and Couponholders will be made in the relevant currency in accordance with the Conditions, after being converted at the relevant Covered Bond Swap Rate if necessary.

• All payments of any amounts due in respect of, under and in connection herewith and the Covered Bonds of any Series to the relevant Covered Bondholders and Couponholders will be made in the relevant currency all in accordance with the applicable Terms and Conditions and converted at the relevant Covered Bond Swap Rate (if necessary).

• In connection with any meeting of the Covered Bondholders of more than one Series where such Covered Bonds are not denominated in Canadian Dollars, the nominal amount of the Covered Bonds of any Series not denominated in Canadian Dollars will be converted into Canadian Dollars at the relevant Covered Bond Swap Rate.