Swap Collateral definition

Swap Collateral means, at any time, any asset (including, without limitation, cash and/or securities) which is paid or transferred by a Swap Provider to the Guarantor (and not transferred back to the Swap Provider) as credit support to support the performance by such Swap Provider of its obligations under the relevant Swap Agreement together with any income or distributions received in respect of such asset and any equivalent of such asset into which such asset is transformed; for greater certainty, Contingent Collateral shall at all times be excluded from Swap Collateral;

Swap Collateral means all right, title and interest of Party B in this Agreement, each Transaction hereunder, and all present and future amounts payable by Party A to Party B under or in connection with this Agreement or any Transaction governed by this Agreement, including, without limitation, any transfer or termination of any such Transaction.

Swap Collateral means the collateral which may be transferred by the Swap Providers to the Guarantor in support of its obligations under the Swap Agreements.

Examples of Swap Collateral in a sentence

• To: CMF 2024-1 PLC 00xx Xxxxx, 0 Xxxxxxxxx Xxxxx, London E14 5HU (the Issuer) For the attention of: The Directors [⚫] 2024 Dear Sirs, Re: CMF 2024-1 PLC Deposit Account Number (the Deposit Account) and Swap Collateral Cash Account Number (the Swap Collateral Cash Account) We acknowledge receipt of your letter dated [⚫] 2024, a copy of which is attached (the Letter).

• The Issuer Account Bank acknowledges that the Deposit Account Mandate, the Swap Collateral Cash Account Mandate and any other mandates delivered from time to time pursuant to the terms of this Agreement shall, notwithstanding anything to the contrary therein, be subject to the terms of the Deed of Charge and this Agreement and in the event of any conflict between the Deposit Account Mandate or the Swap Collateral Cash Account Mandate and this Agreement, the terms of this Agreement shall prevail.

• For the avoidance of doubt, only sterling Cash may be deposited into the Swap Collateral Cash Account and no other currencies or securities will be held in the Swap Collateral Cash Account.

• We agree that you are not bound to enquire whether the right of the Security Trustee to withdraw any monies from the Deposit Account, the Swap Collateral Cash Account and any additional Issuer Account held with you has arisen or be concerned with (A) the propriety or regularity of the exercise of that right or (B) notice to the contrary or (C) to be responsible for the application of any monies received by the Security Trustee.

• In consideration of your agreeing to maintain the Deposit Account and the Swap Collateral Cash Account with us, we now agree and confirm to the Security Trustee that for so long as the instructions in the Letter are not revoked (by operation of law or otherwise) we accept and will comply with the authorisations and instructions contained in the Letter and will not accept or act upon any instructions contrary thereto unless the same shall be in writing signed by the Security Trustee.

More Definitions of Swap Collateral

Swap Collateral means the collateral that may be transferred by the Swap Providers to the Issuer or to the Guarantor, as the case may be, in support of their own obligations pursuant to the Swap Agreements.

Swap Collateral means all right, title and interest of the Trust in this Agreement, each Transaction hereunder, and all present and future amounts payable by the Counterparty to the Trust under or in connection with this Agreement or any Transaction governed by this Agreement, whether or not evidenced by a Confirmation, including, without limitation, any transfer or termination of any such Transaction. Notwithstanding the grant of the Permitted Security Interest, the Trust shall not be released from any of its obligations under this Agreement or any Transaction, and the Counterparty may exercise its rights and remedies under this Agreement without notice to, or the consent of the Indenture Trustee, except as otherwise expressly provided in this Agreement or in the Indenture with respect to the Counterparty’s right to bring legal proceedings against the Trust or the Indenture Trustee for purposes of enforcing this Agreement against the Trust. The Counterparty’s consent to the Permitted Security Interest is expressly limited to the Indenture Trustee for the benefit of the Noteholders under the Indenture, and the Counterparty does not consent to the sale or transfer by the Indenture Trustee of the Swap Collateral to any other person or entity (other than a successor to the Indenture Trustee under the Indenture acting in that capacity), and the manner in which the Indenture Trustee may realize upon the Swap Collateral shall be to declare an Event of Default, Additional Termination Event or designate an Early Termination Date by notice given to the Counterparty pursuant to the provisions of this Schedule and the Agreement. The Trust hereby acknowledges that, as a result of the Permitted Security Interest, all rights of the Trust under this Agreement, including any Transaction, have been assigned to the Indenture Trustee pursuant to the Indenture, and notwithstanding any other provision in this Agreement, the Trust may not take any action hereunder to exercise any of such rights without the prior written consent of the Indenture Trustee, including, without limitation, providing any notice under this Agreement, the effect of which would be to cause an Early Termination Date to occur or be deemed to occur. If the Trust gives any notice to the Counterparty for the purposes of exercising any of the Trust’s rights under this Agreement, the Counterparty shall have the option of treating that notice as void unless that notice is signed by the Indenture Trustee acknowledging its consen...

Swap Collateral means any asset (including, without limitation, cash and/or securities) paid or transferred to the Current Issuer by a Swap Provider in accordance with the terms of the relevant Current Issuer Swap Agreement as collateral to secure the performance of that Swap Provider's obligations under the relevant Current Issuer Swap Agreement together with any income or distributions received in respect of such asset and any equivalent of or replacement of such asset into which such asset is transformed;

Swap Collateral means all right, title and interest of Counterparty in the Form Master Agreement, each Transaction hereunder, and all present and future amounts payable by Bear Stearns to Counterparty under or in connection with the Form Master Agreement or any Transaction governed by the Form Master Agreement, whether or not evidenced by a Confirmation, including, without limitation, any transfer or termination of any such Transaction.

Swap Collateral means all right, title and interest of Party B in this Agreement, each Transaction hereunder, and all present and future amounts payable by Party A to Party B under or in connection with the Agreement or any Transaction governed by the Agreement, including, without limitation, any transfer or termination of any such Transaction.

Swap Collateral means, in respect of the Funding 2 Basis Rate Swap Agreement, any asset (including, without limitation, Cash and/or securities) delivered to Funding 2 by the Funding 2 Basis Rate Swap Provider in accordance with the terms of the Funding 2 Basis Rate Swap Agreement in respect of the Funding 2 Basis Rate Swap Provider's obligations under the Funding 2 Basis Rate Swap Agreement;

Swap Collateral has the meaning specified in Section 3.1A of the Indenture.]