S&P Volatility Buffer means, for any Transaction, the related percentage set forth in the following table. The higher of the S&P short-term credit rating of (i) Party A and (ii) the Credit Support Provider of Party A, if applicable Remaining Weighted Average Maturity up to 3 years Remaining Weighted Average Maturity up to 5 years Remaining Weighted Average Maturity up to 10 years Remaining Weighted Average Maturity up to 30 years At least “A-2” 2.75% 3.25% 4.00% 4.75% “A-3” 3.25% 4.00% 5.00% 6.25% “BB+” or lower 3.50% 4.50% 6.75% 7.50%
S&P Volatility Buffer means, for any Transaction, the related percentage set forth in the following table.
S&P Volatility Buffer means, for any Transaction, the related percentage set forth in the following table. The higher of the Remaining Remaining Remaining Remaining S&P credit rating Weighted Weighted Weighted Weighted of (i) Party A and Average Average Average Average (ii) the Credit Maturity Maturity Maturity Maturity Support Provider up to 3 up to 5 up to 10 up to 30 of Party A, if years years years years applicable ------------------------------------------------------------- At least "A-2" 2.75% 3.25% 4.00% 4.75% ------------------------------------------------------------- "A-3" 3.25% 4.00% 5.00% 6.25% ------------------------------------------------------------- "BB+" or lower 3.50% 4.50% 6.75% 7.50% -------------------------------------------------------------
More Definitions of S&P Volatility Buffer
S&P Volatility Buffer means on any date, an amount equal to the product of (i) the relevant percentage specified in the applicable table in Appendix A or otherwise agreed between Party A and S&P as being applicable to swap transactions of a type and tenor (by reference to the legal final maturity date of a swap transaction) equivalent to the Transaction (provided that, for the purpose of identifying the equivalent tenor in the table in Appendix A, the tenor of the Transaction will, where necessary, be rounded up) and (ii) the Notional Amount of the relevant Transaction (as that term is defined in the Confirmation forming part of this Agreement).
S&P Volatility Buffer means, for any Transaction, the related percentage set forth in the following table. The higher of the S&P short-term credit rating of (i) Party A and (ii) the Credit Support Provider of Party A, if applicable At least “A-2”
S&P Volatility Buffer means, for any Transaction, the related percentage set forth in the following table. _______________________________________________________________________________________________________ The higher of the S&P short-term Remaining Remaining Remaining Remaining credit rating of (i) Party A and Weighted Weighted Weighted Weighted Average (ii) the Credit Support Provider Average Average Maturity Average Maturity of Party A, if applicable Maturity up to 5 years Maturity up to 30 years up to 3 years up to 10 years _______________________________________________________________________________________________________ At least "A-2" 2.75% 3.25% 4.00% 4.75% _______________________________________________________________________________________________________ "A-3" 3.25% 4.00% 5.00% 6.25% _______________________________________________________________________________________________________ "BB+" or lower 3.50% 4.50% 6.75% 7.50% _______________________________________________________________________________________________________
S&P Volatility Buffer means, for any Transaction, the related percentage set forth in the following tables for S&P. “Transaction Exposure” means, for any Transaction, Exposure determined as if such Transaction were the only Transaction between the Secured Party and the Pledgor.
S&P Volatility Buffer means, in respect of an outstanding Transaction, the applicable percentage set forth in the applicable table below. For Transactions relating to covered bonds issued in currencies under Currency Risk Group 1 (as defined under the S&P Criteria), use Table 1: . For Transactions relating to covered bonds issued in currencies under Currency Risk Group 2 (as defined under the S&P Criteria), use Table 2. For Transactions relating to covered bonds issued in currencies under Currency Risk Group 3 (as defined under the S&P Criteria), use Table 3. Up to 3 8.5% 4% 10% 20% 5% Greater than 3 and less than or equal to 5 12.5% 5% 15% 30% 8% Greater than 5 and less than or equal to 10 15% 6% 18% 36% 9% Greater than 10 and less than or equal to 15 18% 7% 22% 44% 11% Greater than 15 21% 8% 25% 50% 13% Up to 3 13% 6% 15% 30% 8% Greater than 3 and less than or equal to 5 19% 8% 23% 45% 12% Greater than 5 and less than or equal to 10 23% 9% 27% 54% 14% Greater than 10 and less than or equal to 15 27% 11% 33% 66% 17% Greater than 15 32% 12% 38% 75% 20% Up to 3 17% 8% 20% 40% 10% Greater than 3 and less than or equal to 5 25% 10% 30% 60% 16% Greater than 5 and less than or equal to 10 30% 12% 36% 72% 18% Greater than 10 and less than or equal to 15 36% 14% 44% 88% 22% Greater than 15 42% 16% 50% 100% 26%
S&P Volatility Buffer will be determined using the tables set forth in Schedule 3; and the “Fitch Volatility Cushion” will be determined using the tables set forth in Schedule 4. If any Certificates are outstanding under the Pooling and Servicing Agreement and are rated by more than one Rating Agency and a Collateralization Event with respect to each such Rating Agency has occurred and is continuing, the Independent Amount of Party A shall equal the highest of the applicable amounts determined as set forth above; provided, that the Independent Amount may equal the lowest of the applicable amounts determined as set forth above if the Rating Condition of each Rating Agency is satisfied with respect with respect thereto.
S&P Volatility Buffer means, on a Valuation Date, for a Transaction: