Interest Rate Exchange Agreement means an agreement entered into by the Authority relating to Bonds or First Resolution Bonds which provides that during the term of such agreement the Authority is to pay to the Counterparty an amount based on the interest accruing at a fixed or variable rate per annum on an amount equal to all or a portion of the principal amount of such Bonds or First Resolution Bonds and that the Counterparty is to pay to the Authority either (i) an amount based on the interest accruing on such principal amount at a fixed or variable rate per annum, in each case computed according to a formula set forth in such agreement, or that one shall pay to the other any net amount due under such agreement or (ii) an amount based on the amount by which the rate at which such Bonds or First General Resolution Bonds bear interest exceeds a rate stated in such agreement.

Interest Rate Exchange Agreement means an agreement entered into by the I-Bank, with the prior written consent of the State Treasurer, in connection with the issuance of or which relates to any Bonds which provides that during the term of such agreement the I-Bank is to pay to the Counterparty an amount based on the interest accruing at a fixed or variable rate per annum on a notional amount equal to the principal amount of such Bonds and that the Counterparty is to pay to the I-Bank an amount based on the interest accruing on such notional amount at a fixed or variable rate, in each case computed according to a formula set forth in such agreement, or that one shall pay to the other any net amount due under such agreement.

Interest Rate Exchange Agreement means the Initial Interest Rate Exchange Agreement and any similar agreement entered into by Access Group and a Swap Counterparty as described under “Description of the Indenture—Interest Rate Exchange Agreements.”

Examples of Interest Rate Exchange Agreement in a sentence

For example, the amount the Authority receives under an Interest Rate Exchange Agreement may be lower than the amount the Authority is required to pay on the bonds associated with the transaction, which would require the Authority to make up the shortfall.
The Authority’s obligations under the Interest Rate Exchange Agreement are payable as operating expenses.
Second, the Authority has the right to terminate the Interest Rate Exchange Agreement if the counterparty is downgraded below “A3” and “A-“ by Moody’s and S&P, respectively.
Second, the Authority has the right to terminate the Interest Rate Exchange Agreement if the counterparty is downgraded below “A3” and “A-” by Moody’s and S&P, respectively.
The use of such products shall conform to the City’s Interest Rate Exchange Agreement Policy (see FIN 2.13 Interest Rate Exchange Agreement).

More Definitions of Interest Rate Exchange Agreement

Interest Rate Exchange Agreement means any interest rate exchange agreement authorized by law and entered into with respect to the Notes or any portion of the Trust Estate that is entered into in accordance with the Master Indenture.

Interest Rate Exchange Agreement means an agreement entered into by the Authority which relates to Bonds of one or more Series or other bonds, notes or other obligations issued by the Authority in connection with Facilities, which provides that the Authority is to pay to the Counterparty an amount based on the interest accruing at a fixed or variable rate per annum on a stated principal amount and that the Counterparty is to pay to the Authority an amount based on the interest accruing on the same principal amount at a fixed or variable rate per annum, in each case computed according to a formula set forth in such agreement, or that one shall pay to the other any net amount due under such agreement;

Interest Rate Exchange Agreement means an agreement entered into by the City and County relating to Bonds of one or more Series which provides that during the term of such agreement the City and County is to pay to the Counterparty an amount based on the interest accruing at a fixed or variable rate per annum on a notional amount and that the Counterparty is to pay to the City and County either (i) an amount based on the interest accruing on such notional amount at a fixed, capped or variable rate per annum, in each case computed according to a formula set forth in such agreement, or that one will pay to the other any net amount due under such agreement, or

Interest Rate Exchange Agreement. ’ means an agreement entered into by the Authority relating to Bonds or First General Resolution Bonds which provides that during the term of such agreement the Authority is to pay to the Counterparty an amount based on the interest accruing at a ﬁxed or variable rate per annum on an amount equal to all or a portion of the principal amount of such Bonds or First General Resolution Bonds and that the Counterparty is to pay to the Authority either (i) an amount

Interest Rate Exchange Agreement means an agreement entered into by the Corporation in connection with the issuance of or which relates to Bonds which (i) provides that during the term of such agreement the Corporation is to pay to the Counterparty an amount based on the interest accruing at a fixed or variable rate per annum on an amount equal to the principal amount of such Bonds and that the Counterparty is to pay to the Corporation an amount based on the interest accruing on a principal amount equal to the same principal amount of such Bonds at a fixed or variable rate per annum, in each case computed according to a formula set forth in such agreement, or that one shall pay to the other any net amount due under such agreement and