Senior Swap Payment definition

Senior Swap Payment. The amount, if any, payable by the Issuing Entity to the Swap Provider, pursuant to Section 8.01(b)(i) of the Indenture, other than a Defaulted Swap Termination Payment.
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Senior Swap Payment means, on any Payment Date, a net payment to a Swap Provider by any Issuer Group Member, other than any Subordinated Swap Payment.
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Examples of Senior Swap Payment in a sentence

  • On any Payment Date when there shall be a Class C Senior Swap Payment, the Issuer shall pay such Class C Senior Swap Payment subject to the priority of payments set forth in Section 4.4(a)(v).

  • On any Payment Date when there shall be a Class A Senior Swap Payment, the Issuer shall pay such Class A Senior Swap Payment subject to the priority of payments set forth in Section 4.4(a)(iii).

  • On any Payment Date when there shall be a Class B Senior Swap Payment, the Issuer shall pay such Class B Senior Swap Payment subject to the priority of payments set forth in Section 4.4(a)(iv).

  • On any Payment Date when there shall be a Class A-1 Senior Swap Payment, the Issuer shall pay such Class A-1 Senior Swap Payment subject to the priority of payments set forth in Section 4.4(a)(iii).

Related to Senior Swap 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.

  • 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.

  • 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.

  • Senior Subordinate Certificates The Class B1, Class B2 and Class B3 Certificates.