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 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;
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 Series 2019B Certificates shall be issued for the purpose of (i) providing for the payment of the principal and interest portions of Basic Lease Payments represented by the Refunded Certificates, (ii) paying Costs of Issuance of the Series 2019B Certificates and (iii) paying amounts due under the Series 2015C Interest Rate Exchange Agreement upon the termination thereof.
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 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.”
Interest Rate Exchange Agreement means a contract providing for an interest rate cap, floor, swap or other similar instrument entered into pursuant to Section 7.08 hereof and approved in writing by each Credit Facility Provider, if any.
Interest Rate Exchange Agreement means an agreement entered into by the City relating to Bonds of one or more Series which provides that during the term of such agreement the City 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 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 shall pay to the other any net amount due under such agreement, or (ii) an amount based on the amount by which the rate per annum at which such Bonds bear interest exceeds a rate per annum stated in such agreement.
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. (“IREA”), “swap” or “derivative” shall mean a written contract between FRMC and a counterparty, entered into in connection with the issuance of FRMC debt or in connection with FRMC debt already outstanding, to provide for an exchange of payments based upon fixed and/or variable interest rates. The failure by FRMC to comply with any provision of this policy will not invalidate or impair any Interest Rate Exchange Agreement. This policy shall be administered, monitored and reviewed as necessary by the Board of FRMC. Additionally, any proposed Interest Rate Exchange Agreements shall be subject to approval by the Board. Interest Rate Exchange Agreements may be used for the following purposes only:
Interest Rate Exchange Agreement means (i) an agreement entered into by the Authority or the Institution in connection with the issuance of or which relates to all or a portion of Bonds of a Series which provides that during the term of such agreement the Authority or the Institution 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 a principal amount of such Bonds, or the applicable portion thereof, and that the Counterparty is to pay to the Authority or the Institution 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 or (ii) interest rate cap agreements, interest rate floor agreements, interest rate collar agreements and any other interest rate related hedge agreements or arrangements;