Examples of Fixed Rate Collateral Obligation in a sentence
For all purposes under this Indenture, any Floating Rate Collateral Obligation that is subject to an Asset Specific Hedge that effectively provides for the conversion of such floating rate of interest to a fixed rate of interest shall be deemed a Fixed Rate Collateral Obligation bearing interest at a fixed rate equal to the fixed rate to be received by the Issuer pursuant to the applicable Asset Specific Hedge.
Any interest rate exchange agreement between the Issuer and aHedge Counterparty that is entered into by the Issuer in connection with the purchase or holding of a Fixed Rate Collateral Obligation or a Floating Rate Collateral Obligation.
For all purposes under this Indenture, any Fixed Rate Collateral Obligation that is subject to an Asset Specific Hedge that effectively provides for the conversion of such fixed rate of interest to a floating rate of interest shall be deemed a Floating Rate Collateral Obligation bearing interest at a floating rate equal to LIBORthe Reference Rate plus the spread over LIBORthe Reference Rate to be received by the Issuer pursuant to the applicable Asset Specific Hedge.
Any Deferrable Obligation which by its terms carries a current cash pay interest rate of not less than (a) in the case of a Floating Rate Collateral Obligation, the Benchmark plus 1.00% per annum or (b) in the case of a Fixed Rate Collateral Obligation, the zero-coupon swap rate in a fixed/floating interest rate swap with a term equal to five years.
Each Collateral Obligation bearing interest at a fixed rate; provided that, Rating Agency Confirmation is required for the purchase of a Fixed Rate Collateral Obligation.
If an Asset Specific Hedge effectively provides for the conversion of a floating rate of interest under the related Collateral Obligation to a fixed rate of interest, such Collateral Obligation shall, for all purposes under this Indenture, (a) be considered a Fixed Rate Collateral Obligation and (b) be deemed to pay interest at a fixed rate to be received by the Issuer under the related Asset Specific Hedge.