Eligible Replacement Cap Counterparty definition
Eligible Replacement Cap Counterparty means a counterparty that meets the eligibility requirements set forth in the Cap Agreement.
Examples of Eligible Replacement Cap Counterparty in a sentence
Promptly following the termination of the Cap Agreement due to an “Event of Default” or “Termination Event” (as each such term is defined in the Cap Agreement), the Issuer will use reasonable efforts to enter into a replacement cap agreement on terms similar to those of the terminated Cap Agreement with an Eligible Replacement Cap Counterparty unless the Indenture Trustee sells the Collateral pursuant to Section 5.6(a)(ii).