Examples of Swap Calculation Period in a sentence
The Issuer pays a fixed amount which is equal to the relevant notional amount applicable for any given Swap Calculation Period (as defined herein) multiplied by a fixed rate and the relevant day count fraction.
For each Swap Transaction, the Swap Notional Amount in respect of any Swap Calculation Period is determined as at the relevant Observation Date.
The floating amount calculated in respect of the Swap Provider for a Swap Calculation Period under the Swap Transaction will be equal to the product of: (a) EURIBOR for such Swap Calculation Period, subject to a floor of minus 0.90% until the Step-Up Date under the Notes and minus 1.35% thereafter, (b) the notional of the Swap Transaction for that Swap Calculation Period and (c) the relevant day count fraction.
If for any Swap Calculation Period EURIBOR for one-month euro deposits is negative, the Issuer will be required to pay to the Swap Counterparty the absolute value of the relevant Swap Counterparty Swap Amount determined using the applicable negative EURIBOR for one-month euro deposits rate as calculated in accordance with the terms of the Balance Guaranteed Swap Agreement (the "Issuer Swap Additional Amount").
Swap Calculation Period: each period from, and including, the 16th calendar day of each month to, but excluding, the 16th calendar day of the next following month, except that (i) the initial Swap Calculation Period will commence on, and include, the Closing Date and (ii) the final Swap Calculation Period will end on, but exclude, the Termination Date.
The Interest Rate Swap Transaction has the following key commercial terms: Fixed Rate Notional Amount: in respect of any Swap Calculation Period will be an amount in Sterling equal to the product of (i) the aggregate Current Balance of the Fixed Rate Loans in the Portfolio on the last calendar day of the calendar month in which such Swap Calculation Period begins and (ii) the applicable Performance Ratio on the last calendar day of the calendar month in which such Swap Calculation Period begins.
The terms of the particular Transaction to which this Confirmation relates are as follows:Transaction Type: Heating Degree Day ("HDD") Swap Calculation Period: The period from and including the Effective Date to and including the Termination Date.
Y = the sum of all payments due in respect of the relevant Loans in the Portfolio being hedged pursuant to the Interest Rate Swap Transaction during the month in which such Swap Calculation Period begins.
The floating amount calculated in respect of the Swap Provider for a Swap Calculation Period under the Swap Transaction will be equal to the product of: (a) EURIBOR for such Swap Calculation Period, subject to a floor of minus 0.77% until the Step-Up Date under the Notes and minus 1.155% thereafter, (b) the notional of the Swap Transaction for that Swap Calculation Period and (c) the relevant day count fraction.
In addition, the Issuer and Swap Provider may, at any time, agree to reduce the Notional Amount of one or more Swap Transactions in respect of any Swap Calculation Period two Local Business Days (as defined in the Swap Agreement) prior to a Reduction Date (as defined in the Swap Agreement), subject to certain conditions being met.