Interest Rate Swap Termination Payment definition

Interest Rate Swap Termination Payment means any termination payments payable under Section 6(e) of the Agreement in the event the Interest Rate Swap is terminated pursuant to the provisions of the Interest Rate Swap following an exercise by the Protection Buyer of its option described at “Optional Termination of the Default Swap” above, with termination payments payable by the fixed rate payer of the Interest Rate Swap expressed as a negative number and termination payments payable by the floating rate payer of the Interest Rate Swap expressed as a positive number.Final Exchange Payer Payment Dates:
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Interest Rate Swap Termination Payment means any termination payments payable under Section 6(e) of the Agreement in the event the Interest Rate Swap is terminated pursuant to the provisions of the Interest Rate Swap following an exercise by the Protection Buyer of its option described at “Optional Termination of the Default Swap” above, with termination payments payable by the fixed rate payer of the Interest Rate Swap expressed as a negative number and termination payments payable by the floating rate payer of the Interest Rate Swap expressed as a positive number.Final Exchange Payer Payment Dates:3. Floating Payments:On the Optional Redemption Date (as defined in the Offering Circular Supplement).Conditions to Settlement: In respect of each ABS Reference Obligation:Credit Event NoticeNotifying Party: Protection BuyerNotice of Publicly Available Information: ApplicableFor the avoidance of doubt, the Conditions to Settlement may be satisfied more than once in relation to this Transaction, but once only in respect of any one ABS Reference Obligation provided that, in the event a Credit Event occurs in respect of an ABS Reference Entity where there is more than one ABS Reference Obligation of such ABS Reference Entity in the Reference Portfolio at such time, the Conditions to Settlement may be satisfied in respect of each such ABS Reference Obligation.Event Determination Date: In respect of an ABS Reference Obligation, the first date onwhich the Credit Event Notice including Publicly Available Information is effective and Section 1.8 of the CreditDerivatives Definitions shall not apply.Credit Event Notice: The Protection Buyer shall, upon the delivery of a CreditEvent Notice in accordance with the Credit Derivatives Definitions as amended by this Confirmation, procure that a copy of such Credit Event Notice is delivered to the Calculation Agent, the Portfolio Administrator and the Rating Agency. For the avoidance of doubt, such additional delivery shall not constitute a Condition to Settlement.Notice Delivery Period: Section 1.9 of the Credit Derivatives Definitions shall notapply and “Notice Delivery Period” shall mean the period from and including the Effective Date to and including the Latest Determination Time provided that a Credit Event Notice may be delivered after the Latest Determination Time in respect of any ABS Reference Obligation for which a Potential ABS Failure to Pay has been notified on or before the Latest Determination Time.Credit Events: In respect of each ABS Reference Obli...
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Interest Rate Swap Termination Payment means any amount due by the Bond Bank to the Interest Rate Swap Counterparty or by the Interest Rate Swap Counterparty to the Bond Bank in connection with the early termination of the Interest Rate Swap.
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Examples of Interest Rate Swap Termination Payment in a sentence

  • The Working Group developed an indicative list of measures that might be taken by Parties in respect of Parties that are not in compliance with the Protocol (Annex II, Section II of the Group's report).

  • The Trustee shall pay theprincipal of the Bonds and any such Interest Rate Swap Termination Payment from amounts in the Principal Account as the same become due.

  • The Bond Bank’s obligations under the Interest Rate Swap, with respect to (1) to Rate Swap Receipts and (2) the aggregate amount of any Interest Rate Swap Termination Payment due and payable by the Bond Bank following the early termination of the Interest Rate Swap as a result of an Event of Default or Termination Event thereunder, with respect to which the Bond Bank is the Defaulting Party or the sole Affected Party, will be secured under the Trust Agreement equally and ratably with the Bonds.

  • There shall be on deposit in the Principal Account at all times after the transfers required by the Revenue Fund pursuant to the Trust Agreement the portion of the amount of principal of the Bonds, if any, due on the next October 15, as accrued to the same date as that of each such transfer, or, if such date is not the same, the following date as stated in the TRUST AGREEMENT-EXHIBIT D, plus any Interest Rate Swap Termination Payment due and payable by the Bond Bank as set forth in the Trust Agreement.


More Definitions of Interest Rate Swap Termination Payment

Interest Rate Swap Termination Payment means the amount payable to an Interest Rate Swap Counterparty by the Issuer upon termination or modification of an Interest Rate Swap Transaction pursuant to the relevant Interest Rate Swap Agreement (which amount shall, where applicable, take into account any "Unpaid Amounts" (as defined in the relevant Interest Rate Swap Agreement)) owing to either party to such Interest Rate Swap Agreement);
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Related to Interest Rate Swap Termination Payment

  • Swap Termination Payment Upon the designation of an “Early Termination Date” as defined in the Swap Agreement, the payment to be made by the Swap Administrator to the Swap Provider from payments from the Trust Fund, or by the Swap Provider to the Swap Administrator for payment to the Trust Fund, as applicable, pursuant to the terms of the Swap Agreement.

  • Defaulted Swap Termination Payment Any Swap Termination Payment required to be paid by the Trust to the Swap Provider pursuant to the Interest Rate Swap Agreement as a result of an Event of Default (as defined in the Interest Rate Swap Agreement) with respect to which the Swap Provider is the defaulting party or a Termination Event (as defined in the Interest Rate Swap Agreement) (other than Illegality or a Tax Event that is not a Tax Event Upon Merger (each as defined in the Interest Rate Swap Agreement )) with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement).

  • Estimated Swap Termination Payment means, with respect to an Early Termination Date, an amount determined by Party A in good faith and in a commercially reasonable manner as the maximum payment that could be owed by Party B to Party A in respect of such Early Termination Date pursuant to Section 6(e) of the ISDA Master Agreement, taking into account then current market conditions.

  • Interest Rate Swap Agreement means the agreement(s) (including any further replacement agreements) entered into between the Guarantor LP and the Interest Rate Swap Provider(s) in the form of an ISDA Master Agreement, as the same may be amended, varied, supplemented, restated or extended from time to time, including a schedule and confirmations in relation to each Tranche or Series of Covered Bonds;

  • Interest Rate Swap means any interest rate swap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Termination Payment has the meaning set forth in Section 6.03.

  • Termination Payments has the meaning specified in Section 10(a).

  • Swap Termination Value means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the xxxx-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender).

  • Termination Payment Date means the earlier of the first Distribution Date following the liquidation or sale of the Receivables as a result of an Insolvency Event and the occurrence of the Scheduled Series 1995-1 Termination Date.

  • Interest Rate Cap Payment (a) With respect to the Class A-2, Class A-3 and Class A-4 Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 35 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class A-2, Class A-3 and Class A-4 Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, (ii) the applicable Class A-2 and Class A-3 notional amount set forth on Schedule A to the Class A-2, Class A-3 and Class A-4 Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; (b) with respect to the Class M Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class M Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis; (ii) the applicable Class M notional amount set forth on Schedule A to the Class M Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; and (c) with respect to the Class B Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class B Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis; (ii) the applicable Class B notional amount set forth on Schedule A to the Class B Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement.

  • Early Termination Payment is defined in Section 4.3(b) of this Agreement.

  • Swap Payment Date For so long as the Swap Agreement is in effect or any amounts remain unpaid thereunder, the Business Day immediately preceding each Distribution Date.

  • Net Swap Payment With respect to each Distribution Date, the net payment required to be made pursuant to the terms of the Swap Agreement by either the Swap Provider or the Swap Administrator, which net payment shall not take into account any Swap Termination Payment.

  • Fixed Swap Payment With respect to any Distribution Date, a fixed amount equal to the related amount set forth in the Interest Rate Swap Agreement.

  • Floating Swap Payment With respect to any Distribution Date on or prior to the Distribution Date in January 2010, an amount equal to the product of (x) Swap LIBOR, (y) the Swap Agreement Notional Balance for that Distribution Date and (z) a fraction, the numerator of which is equal to the number of days in the related calculation period as provided in the Swap Agreement and the denominator of which is 360.

  • Swap Termination Event means the occurrence of a “Termination Event” under the Swap Agreement, as defined in the Swap Agreement.]

  • Early Termination Amount means, in respect of any Note, its principal amount or such other amount as may be specified in, or determined in accordance with, these Conditions or the relevant Final Terms;

  • Termination Amount has the meaning set forth in Section 7.02(a).

  • Interest Rate Cap Agreement means, as applicable, an Interest Rate Cap Agreement (together with the confirmation and schedules relating thereto) in form and substance reasonably satisfactory to Lender between Borrower and an Acceptable Counterparty or a Replacement Interest Rate Cap Agreement.

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Interest Rate Contract means any interest rate swap agreement, interest rate cap agreement, interest rate floor agreement, interest rate collar agreement, interest rate option or any other agreement regarding the hedging of interest rate risk exposure executed in connection with hedging the interest rate exposure of any Person and any confirming letter executed pursuant to such agreement, all as amended, restated, supplemented or otherwise modified from time to time.

  • Interest Rate Cap Provider if any, shall mean the entity listed as the Interest Rate Cap Provider in the Series Term Sheet, in its capacity as obligor under the Class Interest Rate Caps, or if any Replacement Class Interest Rate Caps or Qualified Substitute Cap Arrangements are obtained pursuant to Section 15, the obligor with respect to such Replacement Class Interest Rate Caps or Qualified Substitute Cap Arrangements.

  • Interest Rate Agreement means with respect to any Person any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement as to which such Person is party or a beneficiary.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Interest Remittance Amount With respect to any Mortgage Pool and Distribution Date, (a) the sum of (1) all interest collected (other than in connection with Payaheads and Prepayment Premiums) or advanced in respect of Scheduled Payments in such Mortgage Pool during the related Collection Period by the Servicers, the Master Servicer, or the Trustee (solely acting in its capacity as successor Master Servicer), minus (x) the Servicing Fee with respect to the Mortgage Loans and (y) previously unreimbursed Advances and other amounts due to the Servicers, the Master Servicer or the Trustee (solely acting in its capacity as successor Master Servicer) to the extent allocable to interest and the allocable portion of previously unreimbursed Servicing Advances with respect to the Mortgage Loans, (2) any Compensating Interest Payments with respect to the Mortgage Loans in such Mortgage Pool with respect to the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period), (3) the portion of any Purchase Price, as applicable, or Substitution Amount paid with respect the Mortgage Loans in such Mortgage Pool during the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period) allocable to interest, and (4) all Net Liquidation Proceeds, Insurance Proceeds and any other recoveries collected with respect to the Mortgage Loans during the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period), to the extent allocable to interest, as reduced by (b) other costs, expenses or liabilities reimbursable to the Trustee, the Master Servicer or each Servicer to the extent provided in this Agreement and each Servicing Agreement, and the Custodian pursuant to the Custodial Agreement; provided, however, that in the case of the Trustee, such reimbursable amounts may not exceed $500,000 during any Anniversary Year up to and including the Anniversary Year in which the Stepdown Date occurs and $200,000 during any Anniversary Year thereafter (the “Applicable Maximum Reimbursement Amount”). In the event that the Trustee incurs reimbursable amounts in excess of the Applicable Maximum Reimbursement Amount in any Anniversary Year, it may obtain reimbursement for such amounts in subsequent Anniversary Years, but in no event shall more than the Applicable Maximum Reimbursement Amount in aggregate be reimbursed to the Trustee per Anniversary Year. Notwithstanding the foregoing, costs and expenses incurred by the Trustee pursuant to Section 6.14(a) in connection with any transfer of servicing shall be excluded in determining the Applicable Maximum Reimbursement Amount limitation on reimbursable amounts per Anniversary Year. For the avoidance of doubt, (i) the Interest Remittance Amount available on each Swap Payment Date for distributions to the Supplemental Interest Trust Account shall be equal to the Interest Remittance Amount on the related Distribution Date and (ii) the Interest Remittance Amount for each Distribution Date shall be calculated without regard to any distributions to the Supplemental Interest Trust Account on the related Swap Payment Date.

  • Loan Termination Date means the earliest to occur of the following: (i) as to the REVOLVING NOTES, November 1, 2012, as to the TERM NOTES, October 31, 2016, (ii) the date the OBLIGATIONS are accelerated pursuant to this AGREEMENT, and (iii) the date ADMINISTRATIVE AGENT has received (a) notice in writing from BORROWER of BORROWER’s election to terminate this AGREEMENT and (b) indefeasible payment in full of the OBLIGATIONS.