Initial Hedge Counterparty definition

Initial Hedge Counterparty has the meaning specified in Section 16.1(a) herein.

Initial Hedge Counterparty means The Royal Bank of Scotland plc.

Initial Hedge Counterparty means Merrill Lynch International Bank Limited.

Examples of Initial Hedge Counterparty in a sentence

• Pursuant to the Interest Rate Cap Transaction, on each Loan Payment Date until the scheduled termination date, the Initial Hedge Counterparty is obliged to pay to the Hedging Borrower an amount equal to the excess (if any) of the rate of interest (set by reference to three-month Loan LIBOR) above the agreed strike rate (being 2.75 per cent.) multiplied by the notional amount of the Interest Rate Cap Transaction and the applicable day count fraction.

• At the end of 2017, Wells Fargo ranked third in assets among U.S. banks and was the world's second most valuable bank by market capitalisation.DESCRIPTION OF THE INITIAL HEDGE COUNTERPARTY AND THE LIQUIDITY FACILITY PROVIDER Initial Hedge Counterparty Merrill Lynch International is a private limited company incorporated under the laws of England and Wales with registered office at 2 King Edward Street, London EC1A 1HQ, United Kingdom.

• Except for the foregoing paragraph, Merrill Lynch International, as Initial Hedge Counterparty, has not been involved in the preparation of, and does not accept responsibility for, this Offering Circular.

• Should the Interest Rate Cap Transaction and/or the Interest Rate Swap Transaction be terminated or should the Initial Hedge Counterparty default in its obligations under the Initial Hedging Agreement to make payments to the Hedging Borrower on any payment date the Borrowers may (in particular during a period of high or volatile Loan LIBOR) have insufficient funds available to it to make payments of interest due under the Facility Agreement.

• A Hedge Counterparty (including the Initial Hedge Counterparty) must have the Requisite Rating for a Hedge Counterparty at the time such hedging transaction is put in place and the hedging documentation complies with the rating requirements of the Rating Agencies.

More Definitions of Initial Hedge Counterparty

Initial Hedge Counterparty means each counterparty with which the Issuer enters into an Initial Hedge Agreement.

Initial Hedge Counterparty means Wachovia Bank, National Association.

Initial Hedge Counterparty means Bank of America, N.A. under the initial Hedge Agreement and any of its successors, assigns or replacements under the initial Hedge Agreement appointed in accordance with the terms of this Indenture and the initial Hedge Agreement.

Initial Hedge Counterparty means the Hedge Counterparty with respect to the Initial Hedge Agreement.

Initial Hedge Counterparty means any person which becomes party hereto as an “Initial Hedge Counterparty” pursuant to Clause 21.10 (Creditor Accession Undertaking) and which is or has become party to the Initial Senior Facilities Agreement as a “Hedge Counterparty” (as defined in the Initial Senior Facilities Agreement).

Initial Hedge Counterparty. Deutsche Bank AG, New York Branch, a national banking association, or its successor and assigns.

Initial Hedge Counterparty means Credit Suisse International in its capacity as hedge counterparty under the Initial Hedge Agreement.