Qualified Swap Agreement means a contract or agreement, payable from Surplus Revenues on a basis subordinate to Qualified Obligations, intended to place payment obligations on the interest rate, currency, cash flow or other basis desired by the City, including, without limitation, any interest rate swap agreement, currency swap agreement, forward payment conversion agreement or futures contract, any contract providing for payments based on levels of, or changes in, interest rates, currency exchange rates, stock or other indices, any contract to exchange cash flows or a series of payments, or any contract, including, without limitation, an interest rate floor or cap, or an option, put or call, to hedge payment, currency, rate, spread or similar exposure, between the City and a counterparty; provided that not less than 30 days prior to the City’s execution of such contract or agreement, each Rating Agency which maintains a rating with respect to any Qualified Obligations receives notice in writing of the City’s pending execution thereof; and provided further that at the time of origination each Rating Agency which maintains a rating with respect to any Qualified Obligations confirms in writing to the City that the City’s execution and delivery of such contract will not result in a downgrading, withdrawal or suspension of such rating.
Qualified Swap Agreement for purposes of this Series 2006-1 Lease means a swap agreement with a swap provider (i) rated at least “AA-” by S&P or “Aa3” by Xxxxx'x (or whose obligations are unconditionally guaranteed by an entity so rated) at the time the swap agreement is entered into and (ii) following any downgrade of such provider (or guarantor) is rated at least “BBB” by S&P and “Baa2” by Xxxxx'x and has collateralized its Obligations with a zero Threshold as such terms are defined in the Credit Support Annex (the “CSA”) to the Schedule to such swap agreement.
Qualified Swap Agreement means (a) an agreement between the Commission or the Trustee (at the written direction of the Commission) and Counterparty which is an Interest Rate Swap, forward rate agreement, commodity swap, interest rate option, forward foreign exchange agreement, rate cap agreement, rate floor agreement, rate collar agreement, currency swap agreement, embedded cap, cross-currency rate swap agreement, currency option, any other similar agreement (including any option to enter into any of the foregoing), (b) any combination of the foregoing, or (c) a master agreement for any of the foregoing together with all supplements. If at the time the Commission enters into a Qualified Swap Agreement payable from the Trust Estate a Rating Agency rates any Series of Bonds (without regard to credit enhancement) below "A-", then the approval of the Bond Insurer must be obtained prior to the entry into such Qualified Swap Agreement.
Examples of Qualified Swap Agreement in a sentence
Each party hereto agrees for the benefit of any counterparty to a Qualified Swap Agreement that covenants contained herein that are expressly applicable to such a counterparty, are also intended to benefit such counterparty and each such counterparty shall be deemed to be a third party beneficiary with respect thereto, entitled to enforce directly and in its own name any rights or claims it may have against such party and otherwise protect its rights hereunder.
The Authority, pursuant to a Supplemental Resolution, may grant to the counterparties to such Qualified Swap Agreements a lien on the System Pledged Revenues to secure payment of such Qualified Swap Agreement payments and to provide the priority of payment thereof.
The following Section shall apply in the event the Local Agency were to elect to enter into a Qualified Swap Agreement in connection with Additional Bonds.
The Authority represents that only Periodic Payments under any Qualified Swap Agreement relating to the Bonds are and, so long as any Obligations remain outstanding under this Agreement, will constitute Parity Obligations; and that all other payments under any Qualified Swap Agreement relating to the Bonds, including without limitation termination payments, are and, so long as any Obligations remain outstanding under this Agreement, will be subordinate to any and all Obligations.
Xxxx Companies or Xxxx Furniture (as ------------------------ agreed between Lessee and Agent) shall enter into a Qualified Swap Agreement by November 30, 2000 and, thereafter, have and maintain a Qualified Swap Agreement during the Base Term and, if the Base Term is renewed pursuant to Section 14.9 of the Lease, then during the balance of the Lease Term.
More Definitions of Qualified Swap Agreement
Qualified Swap Agreement means a Public Finance Contract, the District's obligations to make Net Payments under which are payable from the Revenues on a parity with the payment of other Parity Obligations and satisfying the conditions of Section 2.07(a), intended to place Parity Obligations or the applicable investments on the interest rate, currency, cash flow or other basis desired by the District.
Qualified Swap Agreement means a contract or agreement, payable from Distribution System Net Revenues on a parity with Distribution System Parity Obligations, intended to place payment obligations on the interest rate, currency, cash flow or other basis desired by the City, including, without limitation, any interest rate swap agreement, currency swap agreement, forward payment conversion agreement or futures contract, any contract providing for payments based on levels of, or changes in, interest rates, currency exchange rates, stock or other indices, any contract to exchange cash flows or a series of payments, or any contract, including, without limitation, an interest rate floor or cap, or an option, put or call, to hedge payment, currency, rate, spread or similar exposure, between the City and a counterparty; provided that not less than 30 days prior to the City’s execution of such contract or agreement, each Rating Agency which maintains a rating with respect to any Distribution System Parity Obligations receives notice in writing of the City’s pending execution thereof; and provided further that at the time of origination each Rating Agency which maintains a rating with respect to any Distribution System Parity Obligations confirms in writing to the City that the City’s execution and delivery of such contract will not result in a downgrading, withdrawal or suspension of such rating.
Qualified Swap Agreement means an agreement between the Commission and a counterparty creating Qualified Swap Payments.
Qualified Swap Agreement means a contract or agreement, payable from Distribution System Net Revenues on a parity with Distribution System Parity Obligations, intended to place payment obligations on the interest rate, currency, cash flow or other basis desired by the City, including, without limitation, any interest rate swap agreement, currency swap agreement, forward payment conversion agreement or futures contract, any contract providing for payments based on levels of, or changes in, interest rates, currency exchange rates, stock or other indices, any contract to exchange cash flows or a series of payments, or any contract, including, without limitation, an interest rate floor or cap, or an option, put or call, to hedge payment, currency, rate, spread or similar exposure, between the City and a counterparty; provided that not less than 30 days prior to the City’s execution of such contract or agreement, each Rating Agency which maintains a rating with respect to any Distribution System Parity Obligations receives notice in writing of the City’s pending execution thereof; and provided further that at the time of origination each Rating Agency which maintains a rating with respect
Qualified Swap Agreement means a contract or agreement, intended to place Senior Bonds or such investments as the Authority shall specify in a resolution authorizing the execution of such contract or agreement, on the interest rate, currency, cash flow or other basis desired by the Authority, payments (other than payments of fees and expenses and termination payments) with respect to which the Authority has specified in its authorizing resolution shall be payable from Revenue on a parity with the payment of Senior Bonds, including, without limitation, any interest rate swap agreement, currency swap agreement, forward payment conversion agreement or futures contract, any contract providing for payments based on levels of, or changes in, interest rates, currency exchange rates, stock or other indices, any contract to exchange cash flows or a series of payments, or any contract, including, without limitation, an interest rate floor or cap, or an option, put or call, to hedge payment, currency, rate, spread or similar exposure, between the Authority and a Swap Party, provided that in each case: (i) the notional amount of the Qualified Swap Agreement shall not exceed the principal amount of the related Senior
Qualified Swap Agreement for purposes of this Series 2004-1 Lease means a swap agreement with a provider (i) initially rated at least “AA-” by S&P or “Aa3” by Xxxxx'x (or whose obligations are unconditionally guaranteed by an entity so rated) at the time the swap agreement is entered into and (ii) following any downgrade of such provider (or guarantor) is
Qualified Swap Agreement for purposes of this Series 2004-1 Lease means a swap agreement with a provider (i) initially rated at least “AA-” by S&P or “Aa3” by Xxxxx'x (or whose obligations are unconditionally guaranteed by an entity so rated) at the time the swap agreement is entered into and (ii) following any downgrade of such provider (or guarantor) is rated at least “BBB” by S&P and “Baa2” by Xxxxx'x and has collateralized its obligations under such swap agreement with a zero threshold pursuant to a credit support annex executed by such swap provider in connection with such swap agreement.