Net Trust Swap Receipt definition

Net Trust Swap Receipt means, with respect to any Quarterly Payment Date, the difference, if positive, 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.

Net Trust Swap Receipt means, for any Collection Period, the amount of the monthly obligation, if any, of the Swap Counterparty to the Trust pursuant to the Interest Rate Swap to the extent that such monthly obligation exceeds the monthly obligation of the Trust to the Swap Counterparty pursuant to the Interest Rate Swap for such Collection Period and, following the termination of the Interest Rate Swap in accordance with its terms, the net amount of any such obligation that would have benefitted the Trust in the absence of such a termination shall be paid by applying Collections allocated to the Swap Available Subordinated Amount.

Net Trust Swap Receipt means, for any Collection Period, the amount of the monthly payment, if any, excluding any Make-Whole Receipt, made by the Swap Counterparty to the Trust pursuant to the Interest Rate Swap for such Collection Period to the extent that such monthly payment exceeds the monthly payment made by the Trust to the Swap Counterparty pursuant to the Interest Rate Swap for such Collection Period, it being understood that only such excess amount shall be paid by the Swap Counterparty to the Trust.

Examples of Net Trust Swap Receipt 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.

• In the event this Transaction terminates prior to the payment of the entire Net Trust Swap Payment Carryover Shortfall or Net Trust Swap Receipt Carryover Shortfall, such amount will remain due and payable and shall be paid in accordance with the terms of the Indenture.

• Floating Rate Payer II Additional Floating Amount: The Net Trust Swap Receipt Carryover Shortfall Amount, if any, on the related Payment Date.

• Floating Rate Payer II Day Count Fraction: Actual/360 Floating Rate Payer II Designated Maturity: 3 Months Floating Rate Payer II Spread: None Floating Rate Payer II Compounding: Not Applicable Floating Rate Payer II The first day of each Calculation Period Reset Dates: Business Days: New York and London Floating Rate Payer II Additional Floating Amount: The Net Trust Swap Receipt Carryover Shortfall Amount, if any, on the related Payment Date.

More Definitions of Net Trust Swap Receipt

Net Trust Swap Receipt means, with respect to the Group I Interest Rate Swap and each Distribution Date, the amount the Swap Counterparty will owe the Trust under the Group I Interest Rate Swap (without regard to any related Net Trust Swap Receipt 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:

Net Trust Swap Receipt 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 Swap Counterparty will owe the Trust under the Group I or Group II Interest Rate Swap, as applicable (without regard to any related Net Trust Swap Receipt 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: