Swap Breakage Gain definition
Examples of Swap Breakage Gain in a sentence
So long as no Event of Default shall have occurred and be continuing, each Lender shall pay to the Borrower any Swap Breakage Gain (net of any Taxes imposed thereon) received by it as a result of such default, acceleration, failure to make a borrowing or making any repayment or prepayment.
Any Swap Breakage Loss or Swap Breakage Gain payable pursuant to the terms of the Operative Documents shall be payable in Dollars.
Within five Business Days of receipt of such Notice, the Borrower will pay directly to such Lender any such Swap Breakage Loss, or such Lender will pay directly to the Borrower any such Swap Breakage Gain, as the case may be.
If an Event of Default shall have occurred and be continuing at the time any Lender realizes any Swap Breakage Gain, such Swap Breakage Gain shall be retained by the relevant Lender and shall be deemed to be zero.
Upon the request of the Owner or the Lessee to the Junior Agent, such Agent shall obtain from each Junior Purchaser, and each such Junior Purchaser shall provide to such Agent, a good faith written estimate of the Swap Breakage Loss or Swap Breakage Gain, as the case may be, in connection with the occurrence, or anticipated occurrence, of any event contemplated by the Operative Documents that might give rise to an obligation to pay Swap Breakage Loss or the right to receive Swap Breakage Gain.
Upon determination by a Junior Purchaser of any Swap Breakage Loss or Swap Breakage Gain payable to or by it, as the case may be, such Purchaser will provide to the Owner and the Lessee a written confirmation confirming such Swap Breakage Loss or Swap Breakage Gain, which confirmed amount shall be determined in accordance with the procedures set out in the definition of “Swap Break Amount”.
The Junior Purchaser agrees that, so long as no Special Default or Event of Default shall have occurred and be continuing, it shall promptly pay to the Lessee at such account as the Lessee may specify any Swap Breakage Gain in respect of the Junior Notes, except that it may first deduct therefrom any amounts then due and payable to it under the Operative Documents and apply any amount so retained to the satisfaction thereof.
Subject to due compliance and payment in ------------ full of all obligations owing to it, any Swap Breakage Gain actually received by any Noteholder that arises as a result of a prepayment contemplated by Section 2.10 of the Indenture shall be paid by such Noteholder to the Owner Trustee promptly following the same is paid to such Noteholder, in immediately available funds to such account as the Owner Trustee shall direct.
Anything herein or in any other Operative Document notwithstanding, if any Junior Purchaser shall be a Special Junior Lender, such Junior Purchaser shall neither be entitled to receive any Swap Breakage Loss nor be obligated to pay any Swap Breakage Gain in any circumstance in which Break Amount shall be payable hereunder or under any other Operative Document.
Anything herein or in any other Operative Document notwithstanding, if any Junior Loan Participant shall be a Special Junior Lender, such Junior Loan Participant shall neither be entitled to receive any Swap Breakage Loss nor be obligated to pay any Swap Breakage Gain in any circumstance in which Break Amount shall be payable hereunder or under any other Operative Document.