Net Trust Swap Payment definition

Net Trust Swap Payment. For each Swap Payment Date on or prior to the Swap Termination Date, the excess, if any, of the Trust Swap Payment over the Swap Counterparty Payment for such date.
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Net Trust Swap Payment means, with respect to any Quarterly Payment Date, the difference, if negative, between the regularly scheduled amount (without regard to any carryover amounts or Termination Payments) owed by any Swap Counterparty to the Trust on a Quarterly Payment Date and the regularly scheduled amount (without regard to any carryover amounts or Termination Payments) owed by the Trust to such Swap Counterparty on such Quarterly Payment Date pursuant to Section 2 of a Swap Agreement.
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Net Trust Swap Payment means, for any Collection Period, the monthly obligation, if any, of the Trust to the Swap Counterparty pursuant to the Interest Rate Swap to the extent that such monthly obligation exceeds the obligation of the Swap Counterparty to the Trust pursuant to the Interest Rate Swap for such Collection Period.
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Examples of Net Trust Swap Payment in a sentence

  • For avoidance of doubt, the parties acknowledge and agree that the amendment payment, if any, will be a payment pursuant to Section 2 of this Transaction for purposes of determining Net Trust Swap Payment or Net Trust Swap Receipt, as applicable.

  • As discussed above, for federal income tax purposes any payments to the Swap Counterparty under the Swap Agreement shall be treated as a payment to the Class X Certificateholders of the Net Trust Swap Payment and a payment from the holder of said certificate to the Swap Counterparty.


More Definitions of Net Trust Swap Payment

Net Trust Swap Payment means, with respect to any Quarterly Payment Date, the difference, if negative, between the regularly scheduled amount (without regard to any carryover amounts or Termination Payments) owed by the Swap Counterparty to the Trust on a Quarterly Payment Date and the regularly scheduled amount (without regard to any carryover amounts or Termination Payments) owed by the Trust to the Swap Counterparty on such Quarterly Payment Date pursuant to Section 2 of the Swap Agreement.
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Net Trust Swap Payment means, with respect to the Group I Interest Rate Swap and each Distribution Date, the amount the Trust will owe the Swap Counterparty under the Group I Interest Rate Swap (without regard to any related Net Trust Swap Payment Carryover Shortfalls or related Termination Payments), equal to the sum of the following amounts for each of the Monthly Periods in the related Collection Period, beginning with the Monthly Period commencing [ ], [ ]: the product of:
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Net Trust Swap Payment means, with respect to each of the Group I and Group II Interest Rate Swaps (to be calculated separately) and each Distribution Date, the amount the Trust will owe the Swap Counterparty under the Group I or Group II Interest Rate Swap, as applicable (without regard to any related Net Trust Swap Payment Carryover Shortfalls or related Termination Payments), equal to the sum of the following amounts for each of the Monthly Periods in the related Collection Period, beginning with the Monthly Period commencing September 1, 2001: the product of:
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Net Trust Swap Payment means the Class A-2FL Net Fixed Rate Swap Payment or the Class A-MFL Net Floating Rate I Swap Payment, as applicable.
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Net Trust Swap Payment means, with respect to the Group I Interest Rate Swap and each Distribution Date, the amount the Trust will owe the Swap Counterparty under the Group I Interest Rate Swap (without regard to any related Net Trust Swap Payment Carryover Shortfalls or related Termination Payments), equal to the sum of the following amounts for each of the Monthly Periods in the related Collection Period, beginning with the Monthly Period commencing September 1, 2003:the product of:
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Related to Net Trust Swap Payment

  • 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, a floating amount equal to the product of (i) Swap LIBOR, (ii) the related Base Calculation Amount (as defined in the Interest Rate Swap Agreement), (iii) 250 and (iv) a fraction, the numerator of which is the actual number of days elapsed from and including the previous Floating Rate Payer Payment Date (as defined in the Interest Rate Swap Agreement) to but excluding the current Floating Rate Payer Payment (or, for the first Floating Rate Payer Payment Date, the actual number of days elapsed from the Closing Date to but excluding the first Floating Rate Payer Payment Date), and the denominator of which is 360.

  • Supplemental Interest Trust Trustee Xxxxx Fargo Bank, N.A., a national banking association, not in its individual capacity but solely in its capacity as supplemental interest trust trustee, and any successor thereto.

  • Class A Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class A Noteholders’ Interest Distribution Amount and the Class A Noteholders’ Principal Distribution Amount for that distribution date.

  • Class A-PO Certificateholder The registered holder of a Class A-PO Certificate.

  • Supplemental Interest Trust The corpus of a trust created pursuant to Section 5.07 of this Agreement and designated as the “Supplemental Interest Trust,” consisting of the Swap Agreement, the Swap Account, the Interest Rate Cap Agreement, the Interest Rate Cap Account, the right to receive the Class X Distributable Amount as provided in Section 5.02(f)(vi), the Class LT4-I interest in REMIC 4 and the right to receive Class I Shortfalls.

  • Class A Certificateholder The registered holder of a Class A Certificate.

  • Class C Certificateholder means the person in whose name a Class C Certificate is registered on the Certificate Register.

  • Class A-2 Certificateholder The registered holder of a Class A-2 Certificate.

  • Class B Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class B Noteholders’ Interest Distribution Amount and the Class B Noteholders’ Principal Distribution Amount for that distribution date.

  • Class A-4 Certificateholder The registered holder of a Class A-4 Certificate.

  • Class A-1 Certificateholder The registered holder of a Class A-1 Certificate.

  • Class A-R Certificateholder The registered holder of the Class A-R Certificate.

  • Class A-3 Certificateholder The registered holder of a Class A-3 Certificate.

  • Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to zero until the outstanding principal amount of each Class of Notes has been reduced to zero, and thereafter, an amount equal to the Principal Distribution Amount (as reduced by the Noteholders’ Principal Distributable Amount, if any for such Distribution Date) for such Distribution Date.

  • Class A Noteholders’ Interest Distribution Amount means, for any distribution date, the sum of: • the amount of interest accrued at the class A note interest rates for the related accrual period on the aggregate outstanding principal balances of all classes of class A notes on the immediately preceding distribution date, after giving effect to all principal distributions to class A noteholders on that preceding distribution date; and • the Class A Note Interest Shortfall for that distribution date.

  • Class A-1 Noteholders Interest Carryover Shortfall” means, with respect to any Payment Date, the excess of the Class A-1 Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class A-1 Noteholders’ Interest Carryover Shortfall on such preceding Payment Date, over the amount in respect of interest that is actually paid to Holders of Class A-1 Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Holders of Class A-1 Notes on the preceding Payment Date, to the extent permitted by law, at the Class A-1 Interest Rate for the related Interest Period.

  • Noteholders’ Distributable Amount means, with respect to any Distribution Date, the sum of the Noteholders’ Principal Distributable Amount and the Noteholders’ Interest Distributable Amount.

  • 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.

  • Class A Noteholders’ Principal Distribution Amount means, for any distribution date, the Principal Distribution Amount times the Class A Percentage for that distribution date, plus any Class A Note Principal Shortfall as of the close of business on the preceding distribution date; provided that the Class A Noteholders’ Principal Distribution Amount will not exceed the outstanding principal balance of the class A notes, less all amounts, other than investment earnings, on deposit in the accumulation account.In addition, on the maturity date for any class of class A notes, the principal required to be distributed to the related noteholders will include the amount required to reduce the outstanding principal balance of that class to zero.

  • Class A Noteholders’ Interest Distributable Amount means, with respect to any Payment Date, the sum of the Class A Noteholders’ Monthly Interest Distributable Amount for such Payment Date and the Class A Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • Master Trust Trustee means the entity acting as trustee under the applicable Pooling and Servicing Agreement.

  • Class B Certificateholder means the Person in whose name a Class B Certificate is registered in the Certificate Register.

  • Trust Amount has the meaning set forth in the Trust Agreement.

  • Class A Servicing Fee shall have the meaning specified in Section 3.01.