Qualified Interest Rate Cap Provider definition

Qualified Interest Rate Cap Provider means an interest rate cap counterparty whose long-term debt obligations or counterparty rating are rated by the Rating Agencies not lower than “A+” (or the equivalent).
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Qualified Interest Rate Cap Provider means (i) at the time of the entering into a Series 2006-1 Interest Rate Cap, a bank or financial institution approved by the Series 2006-1 Insurer and having a short-term unsecured debt rating of “P-1” from Moody’s and “A-1” from Standard & Poor’s and a long-term senior unsecured debt rating of at least “Aa3” from Moody’s and at least “A+” from Standard & Poor’s and (ii) at any other time, a bank or financial institution having a long-term senior unsecured debt rating (A) of at least “Aa3” from Moody’s and at least “A+” from Standard & Poor’s or (B) lower than “Aa3” from Moody’s or “A+” from Standard & Poor’s which has provided collateral for its obligations under the related Series 2006-1 Interest Rate Cap (subject to terms and with assets satisfactory to the Series 2006-1 Insurer and with respect to which the Rating Agency Condition is satisfied) within 30 days of no longer meeting the rating criteria specified in the preceding clause (i).
Sample 1
Qualified Interest Rate Cap Provider means an interest rate cap counterparty either (x) whose long-term debt obligations are rated by the Rating Agencies not lower than "AAA" (or the equivalent), or (y) whose long-term debt obligations are rated by the Rating Agencies not lower than "AA-" (or the equivalent) and whose short-term debt obligations are rated by the Rating Agencies not lower than "A-1+" (or the equivalent).
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Examples of Qualified Interest Rate Cap Provider in a sentence

  • If the rating of a Qualified Interest Rate Cap Provider that has provided an interest rate cap which Borrower pledges to the Lender pursuant to the Collateral Assignment of Hedge falls below the rating criteria specified in the definition of a Qualified Interest Rate Cap Provider, then within ten (10) Business Days following written request from Lender, the Borrower shall deliver to Lender a replacement interest rate cap satisfying all of the criteria set forth in Section 3.1 (as of the Closing Date).

  • Borrower shall have delivered to Lender the interest rate cap in a form acceptable to Lender from a Qualified Interest Rate Cap Provider with a notional amount equal to the Loan Amount and a LIBOR strike rate equal to 5.00% and the fully executed Collateral Assignment of Hedge.

  • Borrower shall have delivered to the Lender the interest rate cap in a form acceptable to the Lender from a Qualified Interest Rate Cap Provider with a notional amount equal to the outstanding Principal Indebtedness (including the requested Advance) and a strike rate equal to 5.50% and the fully executed Collateral Assignment of Hedge.

  • Borrower shall have delivered to Lender the interest rate cap in a form acceptable to Lender from a Qualified Interest Rate Cap Provider with a notional amount equal to the Loan Amount and a strike rate equal to 5.50% and the fully executed Collateral Assignment of Hedge.

  • Borrower shall have delivered to the Agent the interest rate cap in a form acceptable to the Agent from a Qualified Interest Rate Cap Provider with a notional amount equal to the Loan Amount and a strike rate equal to 5.50% and the fully executed Collateral Assignment of Hedge.

  • If the rating of a Qualified Interest Rate Cap Provider that has provided an interest rate cap which Borrower pledges to the Agent pursuant to the Collateral Assignment of Hedge falls below the rating criteria specified in the definition of a Qualified Interest Rate Cap Provider, then within ten (10) Business Days following written request from Agent, the Borrower shall deliver to Agent a replacement interest rate cap satisfying all of the criteria set forth in Section 3.1 (as of the Closing Date).

  • As of June 30, 2023, approximately 6.1 million ADSs had been repurchased under this program for a total cost of US$536.4 million.The extent to which NetEase repurchases its ADSs and its ordinary shares depends upon a variety of factors, including market conditions.

  • RCFC shall provide Standard & Poor’s with notice if Standard & Poor’s long-term unsecured debt rating of any Qualified Interest Rate Cap Provider that is a party to a Series 2007-1 Interest Rate Cap falls below “BBB-”.

  • Borrower shall have delivered to the Lender the interest rate cap in a form acceptable to the Lender from a Qualified Interest Rate Cap Provider with a notional amount equal to the outstanding Principal Indebtedness (including the requested Advance) and a strike rate equal to 5.00% and the fully executed Collateral Assignment of Hedge.

  • RCFC shall provide Standard & Poor’s with notice if Standard & Poor’s long-term unsecured debt rating of any Qualified Interest Rate Cap Provider that is a party to a Series 2005-1 Interest Rate Cap falls below “BBB-”.


More Definitions of Qualified Interest Rate Cap Provider

Qualified Interest Rate Cap Provider means a counterparty to a Series 2000-2 Interest Rate Cap who (i) is an S&P Qualified Interest Rate Cap Provider, (ii) a Moody's Qualified Interest Rate Cap Provider and (iii) has either a short-term unsecured debt rating of "A-1" or a "AAA" counterparty rating from Standard & Poor's or is otherwise acceptable to the Insurer.
Sample 1
Qualified Interest Rate Cap Provider means a bank or financial institution which (i) has been approved by the Series 2007-1 Insurer, (ii) satisfies the Moody’s First Trigger Required Ratings and/or the Moody’s Second Trigger Required Ratings (or whose present and future obligations owing to the Issuer are guaranteed pursuant to an eligible guarantee provided by a guarantor which satisfies the Moody’s First Trigger Required Ratings and/or the Moody’s Second Trigger Required Ratings) and (iii) has a short-term unsecured debt rating of “A-1” from Standard & Poor’s and a long-term senior unsecured debt rating of at least “A+” from Standard & Poor’s.
Sample 1
Qualified Interest Rate Cap Provider means an Interest Rate Cap Provider that (A) (i) has a short-term senior and unsecured debt rating of at least “A-1” from Standard & Poor’s and (ii) has a long-term senior and unsecured debt rating of at least “A” or a counterparty rating of “AAA”, in each case, from Standard & Poor’s, (B) (i) has a short-term senior unsecured debt rating of “P-1” from Moody’s and a long-term senior unsecured debt rating of at least “A1” from Moody’s or (ii) has a counterparty rating of “Aaa” from Moody’s and has collateralized its obligations under the Interest Rate Cap, and each Rating Agency has reaffirmed the ratings of the Series 2004-1 Notes, without giving effect to the Surety Bond and (C) is acceptable to the Surety Provider.
Sample 1
Qualified Interest Rate Cap Provider means a counterparty to a Series 2000-1 Interest Rate Cap who is an S&P Qualified Interest Rate Cap Provider and a Xxxxx'x Qualified Interest Rate Cap Provider.
Sample 1
Qualified Interest Rate Cap Provider means a counterparty to a Series 2004-4 Interest Rate Cap which is (i) a Standard & Poor’s Qualified Interest Rate Cap Provider and (ii) a Moody’s Qualified Interest Rate Cap Provider.
Sample 1

Related to Qualified Interest Rate Cap Provider

  • 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 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.

  • Replacement Interest Rate Cap Agreement means an interest rate cap agreement from an Acceptable Counterparty with terms identical to the Interest Rate Cap Agreement except that the same shall be effective in connection with replacement of the Interest Rate Cap Agreement following a downgrade, withdrawal or qualification of the long-term unsecured debt rating of the Counterparty; provided that to the extent any such interest rate cap agreement does not meet the foregoing requirements, a “Replacement Interest Rate Cap Agreement” shall be such interest rate cap agreement approved in writing by each of the Rating Agencies and Lender with respect thereto.

  • 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.

  • Interest Rate Cap means a Cap.

  • Mortgage Interest Rate Cap With respect to an Adjustable Rate Mortgage Loan, the limit on each Mortgage Interest Rate adjustment as set forth in the related Mortgage Note.

  • Periodic Interest Rate Cap As to each adjustable rate Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date pursuant to the terms of the Mortgage Note.

  • Lender-Provided Interest Rate Hedge means an Interest Rate Hedge which is provided by any Lender and with respect to which such Xxxxxx confirms to Agent in writing prior to the execution thereof that it: (a) is documented in a standard International Swap Dealers Association, Inc. Master Agreement or another reasonable and customary manner; (b) provides for the method of calculating the reimbursable amount of the provider’s credit exposure in a reasonable and customary manner; and (c) is entered into for hedging (rather than speculative) purposes. The liabilities owing to the provider of any Lender-Provided Interest Rate Hedge (the “Interest Rate Hedge Liabilities”) by any Borrower, Guarantor, or any of their respective Subsidiaries that is party to such Lender-Provided Interest Rate Hedge shall, for purposes of this Agreement and all Other Documents be “Obligations” of such Person and of each other Borrower and Guarantor, be guaranteed obligations under any Guaranty and secured obligations under any Guarantor Security Agreement, as applicable, and otherwise treated as Obligations for purposes of the Other Documents, except to the extent constituting Excluded Hedge Liabilities of such Person. The Liens securing the Interest Rate Hedge Liabilities shall be pari passu with the Liens securing all other Obligations under this Agreement and the Other Documents, subject to the express provisions of Section 11.5.

  • 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;

  • Fixed Rate Certificate A Certificate that provides for a payment of interest at a Fixed Pass-Through Rate.

  • Fixed Rate Mortgage Loan A fixed rate mortgage loan purchased pursuant to this Agreement.

  • Swap Provider means any Person that, at the time it enters into a Swap Agreement is a Lender or an Affiliate of a Lender, in its capacity as a party to such Swap Agreement.

  • 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.

  • Reference Interest Rate Replacement Date means the earliest to occur of the following events with respect to the then-current Reference Interest Rate

  • Cap Provider means the third-party financial institution approved by Lender that is the counterparty under any Cap Agreement or Replacement Cap Agreement.

  • Floating Rate Certificate A Certificate that provides for the payment of interest at a Floating Pass-Through Rate determined periodically by reference to a formula specified in the related Supplement.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • 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;

  • Reference Interest Rate Replacement means the first alternative set forth in the order below that can be determined by the Issuer or its designee as of the Reference Interest Rate Replacement Date:

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of (i) (a) the prime rate as reported in The Wall Street Journal, plus (b) 5.90%, and (ii) 9.15%.

  • Mortgage Interest Rate For any Mortgage Loan, the per annum rate at which interest accrues on such Mortgage Loan pursuant to the terms of the related Mortgage Note.

  • Interest Rate Hedging Agreement means any interest rate protection agreement or other interest rate hedging arrangement.

  • Revolving Interest Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

  • Fixed Rate Certificates As specified in the Preliminary Statement.

  • Interest Rate Contracts means all interest rate swap agreements, interest rate cap agreements, interest rate collar agreements and interest rate insurance.