Senior Priority Swap Termination Amount definition

Senior Priority Swap Termination Amount means any unpaid amount owing to the Swap Counterparty in respect of Termination Payments relating to a termination of the Interest Rate Swap arising from (a) the Swap Counterparty not receiving any Net Swap Payment owing to it, (b) bankruptcy, insolvency or similar event of the Issuer or (c) the liquidation of all of the Pledged Loans (excluding Defaulted Loans) pursuant to this Indenture.
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Senior Priority Swap Termination Amount means any unpaid amount owing to the Swap Counterparty in respect of Termination Payments relating to a termination or a partial termination of the Interest Rate Swap arising from (a) the Swap Counterparty not receiving any Net Swap Payment owing to it, (b) bankruptcy, insolvency, conservatorship, receivership or similar event of the Issuer, (c) the occurrence of an Event of Default under Section 11.1(a), 11.1(b) or 11.1(d) and, as a result thereof, the liquidation of all or a portion of the Pledged Loans pursuant to Article IX of this Indenture or (d) an amendment or supplement to this Indenture made without the consent of the Swap Counterparty.
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Senior Priority Swap Termination Amount means any unpaid amount owing to the Swap Counterparty in respect of Termination Payments relating to a termination or a partial termination of the Interest Rate Swap arising from (a) an Event of Default under the Interest Rate Swap with respect to which the Issuer is the Defaulting Party (as defined in the Interest Rate Swap); (b) an Illegality as defined in the Interest Rate Swap; (c) the occurrence of a Tax Event as defined in the Interest Rate Swap; (d) a Termination Event (other than an Illegality or Tax Event) or an Additional Termination Event under the Interest Rate Swap with respect to which the Issuer is an Affected Party (as defined in the Interest Rate Swap); (e) the occurrence of an Event of Default under Section 11.1(a), 11.1(b) or 11.1(d) of this Indenture and, as a result thereof, the liquidation of all or a portion of the Pledged Loans pursuant to Article XI of this Indenture; (f) the occurrence of an optional redemption under Section 2.12 of this Indenture; or (g) an amendment or supplement to this Indenture made without the prior written consent of the Swap Counterparty.
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More Definitions of Senior Priority Swap Termination Amount

Senior Priority Swap Termination Amount means the amount, if any, owing to the Swap Counterparty in respect of Termination Payments relating to a termination of the Interest Rate Swap arising from (a) the Swap Counterparty not receiving any Net Swap Payment owing to it, (b) bankruptcy, insolvency or similar event of the Issuer or (c) the liquidation of all of the Pledged Loans (excluding Defaulted Loans) pursuant to this Indenture.
Sample 1
Senior Priority Swap Termination Amount means any unpaid amount owing to the Swap Counterparty in respect of Termination Payments relating to a termination or a partial termination of the Interest Rate Swap arising from (a) the Swap Counterparty not receiving any Net Swap Payment owing to it; (b) bankruptcy, insolvency, conservatorship, receivership or similar event of the Issuer; (c) the occurrence of an Event of Default under Section 11.1(a), 11.1(b) or 11.1(d) and, as a result thereof, the liquidation of all or a portion of the Pledged Loans pursuant to Article XI of this Indenture, provided, however, that for purposes of this definition only, the reference to the “Notes” in Section 11.1(a) shall mean the “Class A Notes” and the reference to “Aggregate Principal Amount” in Section 11.1(b) shall mean the Principal Amount of the Class A Notes; (d) an Illegality as defined in the Swap Agreement; (e) the occurrence of a Tax Event as defined in the Swap Agreement, or (f) an amendment or supplement to this Indenture made without the consent of the Swap Counterparty.
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Related to Senior Priority Swap Termination Amount

  • First Priority Principal Distribution Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the Class A Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes on such Payment Date), over (b) the related Adjusted Pool Balance; provided, however, that (i) the First Priority Principal Distribution Amount on the Class A-1 Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-1 Notes to zero; (ii) the First Priority Principal Distribution Amount on the Class A-2a Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-2a Notes to zero; (iii) the First Priority Principal Distribution Amount on the Class A-2b Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-2b Notes to zero; (iv) the First Priority Principal Distribution Amount on the Class A-3 Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-3 Notes to zero; and (v) the First Priority Principal Distribution Amount on the Class A-4 Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-4 Notes to zero.

  • Second Priority Principal Distribution Amount means, with respect to any Payment Date, an amount equal to (a) the excess, if any, of (i) the Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes and the Class B Notes on such Payment Date), over (ii) the Adjusted Pool Balance for such Payment Date minus (b) the First Priority Principal Distribution Amount for such Payment Date; provided, however, that the Second Priority Principal Distribution Amount on the Class B Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class B Notes to zero.

  • Senior Reduction Amount With respect to any Payment Date is either:

  • Noteholders’ Principal Distributable Amount means, with respect to any Distribution Date, (other than the Final Scheduled Distribution Date for any Class of Notes), the sum of the Principal Distributable Amount for such Distribution Date and the Noteholders’ Principal Carryover Amount, if any, as of the close of business on the preceding Distribution Date. The Noteholders’ Principal Distributable Amount on the Final Scheduled Distribution Date for any Class of Notes will equal the sum of (i) the Principal Distributable Amount for such Distribution Date, (ii) the Noteholders’ Principal Carryover Amount as of such Distribution Date, and (iii) the excess of the outstanding principal amount of such Class of Notes, if any, over the amounts described in clauses (i) and (ii).

  • Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the Note Percentage of the Principal Distributable Amount for such Payment Date.