Examples of Swap in a sentence
Notwithstanding anything in this Guaranty to the contrary, no Guarantor shall be required to make any payment pursuant to this Guaranty to any party, and the right of set-off provided in Section 4.08 shall not apply with respect to any Guarantor, in each case, with respect to Excluded Swap Obligations, if any, of such Guarantor.
In the event the Loaner UNIT member becomes ill during a Swap, then the Loaner UNIT member will be relieved from duty.
Each of the Bond Trustee and the Guarantor agree that all amounts payable by the Covered Bond Swap Provider to the Guarantor under the Covered Bond Swap Agreement and in accordance with the Priorities of Payments, shall be paid directly to the Paying Agent, and the Guarantor (or the Cash Manager on its behalf) shall direct the Covered Bond Swap Provider accordingly.
The Cash Manager, in its capacity as Calculation Agent under the Interest Rate Swap Agreement, shall determine, in accordance with the terms of the Interest Rate Swap Agreement, the Receipt Ratio and the Average Loan Balance in respect of the relevant Calculation Period and shall notify the Guarantor and the Bond Trustee of such amounts and balances on the Toronto Business Day that is at least two days prior to the first Guarantor Payment Date following the relevant Calculation Period.
If the Loaner UNIT member fails to report to the assigned duty for the approved Swap, the Loaner UNIT member forfeits the amount of PTO, in hours, for the time period not covered, at a rate of one and one half (1 ½) times the hours of the approved Swap, or be banned from being a Requestor or Loaner for twelve (12) months from the date of occurrence.