Swap Collateral Excluded Amounts definition
Swap Collateral Excluded Amounts means, at any time, the amount of Swap Collateral which may not be applied under the terms of the relevant Swap Agreement at that time in satisfaction of the relevant Swap Provider’s obligations to the Guarantor including Swap Collateral, which is to be returned to the relevant Swap Provider from time to time in accordance with the terms of the Swap Agreements and ultimately upon termination of the relevant Swap Agreement;
Swap Collateral Excluded Amounts means at any time, the amounts of Swap Collateral which may not be applied under the terms of the relevant Swap Agreement at that time in satisfaction of the relevant Swap Provider's obligations to the Guarantor or, as the case may be, the Issuer including Swap Collateral which is to be returned to the relevant Swap Provider from time to time in accordance with the terms of the Swap Agreements and ultimately upon termination of the relevant Swap Agreement.
Swap Collateral Excluded Amounts means equivalent collateral of the same type, nominal value and description as the Swap Collateral received by the Guarantor pursuant to the provisions of the relevant Swap Agreement, which is to be transferred back by the Guarantor to the relevant Swap Counterparty from time to time in accordance with the terms of the relevant Swap Agreement.
Examples of Swap Collateral Excluded Amounts in a sentence
Following the occurrence of a Guarantor Event of Default and service of a Guarantor Acceleration Notice, any Swap Collateral Excluded Amounts in respect of a Swap Agreement will be returned to the relevant Swap Provider subject to the terms of the relevant Swap Agreement, and any Third Party Amounts will be returned to the Seller, with the Seller paying such Third Party Amounts to the relevant third party.
Any moneys received or recovered by the Security Trustee following enforcement of the Security granted by the Covered Bond Guarantor over the Charged Property will be distributed according to the Post- Enforcement Priority of Payments (other than any Swap Collateral Excluded Amounts).
More Definitions of Swap Collateral Excluded Amounts
Swap Collateral Excluded Amounts means, in respect of a Swap Agreement, an amount (which will be transferred directly and outside the Priorities of Payments to the relevant Swap Provider as calculated in accordance with the Swap Agreement) equal to the amount (i) by which the value of the Swap Collateral provided by the Swap Provider to the Guarantor pursuant to the Swap Agreement (and accrued interest and any distributions received in respect thereof) exceeds the Swap Provider’s liability (if any) under the Swap Agreement upon termination of the relevant Swap Agreement (such liability for the avoidance of doubt shall be calculated prior to any netting of an Unpaid Amount and shall be determined in accordance with the terms of the Swap Agreement except that, for the purpose of this definition only, the value of the collateral will not be applied as an unpaid amount owed by the Guarantor to the Swap Provider) or (ii) which the Swap Provider is otherwise entitled to have returned to it from time to time under the terms of the Swap Agreement including any Return Amount as defined in the credit support annex forming part of the relevant Swap Agreement.
Swap Collateral Excluded Amounts means at any time, the amounts of Swap Collateral which may not be applied under the terms of the relevant Swap Agreement at that time in satisfaction
Swap Collateral Excluded Amounts means, at any time, cash and/or securities equivalent of the same type, nominal value and description as the Swap Collateral which is to be transferred back by the Guarantor to the Covered Bond Swap Counterparty from time to time in accordance with the terms of the Swap Agreements.