Currency Swap definition

Currency Swap means a contract entered into between a Person and a counterparty on a case by case basis in connection with forward rate, currency swap or currency exchange and other similar currency related transactions, the purpose and effect of which is to mitigate or eliminate such Person’s exposure to fluctuations in exchange rates;

Currency Swap means each currency swap which enables the Issuer to hedge currency risks arising from (a) covered Notes which are issued in currencies other than NOK and (b) assets (other than loans) which are registered to the Cover Pool and are denominated in currencies other than NOK; Currency Swap Agreement means the ISDA Master Agreement, schedule and confirmation(s) (as amended and supplemented from time to time) relating to the Currency Swap(s) entered into from time to time between the Issuer and each Currency Swap Provider;

Currency Swap means each currency swap which enables the Issuer to hedge currency risks arising from (a) Notes which are issued in currencies other than NOK and (b) assets (other than loans) which are registered to the Cover Pool and are denominated in currencies other than NOK;

Examples of Currency Swap in a sentence

• Any payments received by the Issuer from the Currency Swap Counterparty under such a Currency Swap Agreement shall not be deposited in the Collection Account and shall be paid by the Indenture Trustee directly to or to the order of the Certificateholders on the related Distribution Date.

• In the event that any Class is subject to a Class Currency Swap, the Trustee, for the benefit of the Certificateholders of such Class, shall cause to be established and maintained in the name of the Paying Agent, an account outside the United States (the "Class Foreign Currency Distribution Account") bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Certificateholders of such Class.

• On the Distribution Date occurring in the same calendar month as each Payment Date, any payments to be made by the Trustee to the Currency Swap Counterparty under the Class Currency Swap will be deposited in the Currency Swap Dollar Escrow Account.

• Any payments made by the Currency Swap Counterparty pursuant to the Class Currency Swap (other than payments in connection with the termination thereof or the replacement of the Currency Swap Counterparty, which payments will be made in accordance with the Class Currency Swap) will be deposited in the Class Foreign Currency Distribution Account.

• The Bank deals in Forward Rate Agreement, Interest Rate Swaps, Cross Currency Swap and Currency Options in Over the Counter Derivatives group.

More Definitions of Currency Swap

Currency Swap. DESIGNATED RATING AGENCY" "EXTRAORDINARY RESOLUTION" "FINAL MATURITY DATE" "HEDGE AGREEMENT" "INSOLVENCY EVENT" "INVESTED AMOUNT" "MORTGAGED PROPERTY" "NOTES" "NOTEHOLDER" "NOTE TRUSTEE" "PRINCIPAL PAYING AGENT" "PURCHASED RECEIVABLES" "SECURITY TRUST DEED" "SECURITY TRUSTEE" "STATED AMOUNT" "SUPPORT FACILITY PROVIDER" "TRUST" "TRUST EXPENSE"

Currency Swap means an OTC foreign exchange derivative contract which commits two counterparties to exchange streams of interest payments and/or principal amounts in different currencies on specified dates over the duration of the swap at a pre-agreed exchange rate.

Currency Swap means the temporary exchange, for the Swap Period, of interest on the Base Currency and Quote Currency Amounts and the Notional Amount using the Exchange Rate agreed by the Contracting Parties and recorded in the Confirmation. More detailed basic information on Currency Swaps and their types is given in point V letter B) in Annex 1 of these Terms and Conditions.

Currency Swap means, as the context requires, the Class A-1 Currency Swap and/or the Class A-3 Currency Swap.

Currency Swap means a Transaction entered into between Party A, Party B and the Manager on substantially the terms specified in the Confirmation set out in Annexure 1 or Annexure 2 (or as otherwise agreed between Party A, Party B and the Manager).

Currency Swap means a Transaction which, in the relevant Confirmation, is expressed to be a Currency Swap for the purposes of the Agreement.

Currency Swap means a currency swap transaction which is entered into for the purpose of exchanging any applicable Qualifying Currency into any other Qualifying Currency as applicable, on the same day at the then current Spot Rate.