Swap Event definition

Swap Event means the termination of a Swap Agreement in whole for any reason; and
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Swap Event means the occurrence of any Swap Termination or any modification to any Swap Agreement, in each case to the extent that, after taking into account the net hedging position under all then outstanding Swap Agreements of the Borrower and its Subsidiaries taken as a whole (including any Swap Agreements entered into concurrently with such Swap Termination or modification), such Swap Termination or such modification could reasonably be expected to reduce the Borrowing Base assuming that a redetermination thereof was then being effected (the amount of such reduction being referred to as the “Swap Event Reduction Amount”).
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Swap Event means, in respect of a Series, the occurrence of an Early Termination Date under (i) if no AR Automatic Novation Event has occurred, the Original Swap Agreement, and (ii) if an AR Automatic Novation Event has occurred, the AR Swap Agreement.
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Examples of Swap Event in a sentence

  • The Issuer may, from time to time, enter into one or more replacement Swap Agreements in the event that any Swap Agreement is terminated prior to its scheduled expiration pursuant to a Swap Event of Default or a Swap Termination Event.

  • The Issuer may, from time to time, enter into one or more replacement Swap Agreement in the event that the Swap Agreement is terminated prior to its scheduled expiration pursuant to a Swap Event of Default or a Swap Termination Event.

  • The Issuer may, from time to time, enter into one or more replacement Interest Rate Swap Agreements in the event that any Interest Rate Swap Agreement is terminated prior to its scheduled expiration pursuant to a Swap Event of Default or a Swap Termination Event.

  • The Issuer shall give the Indenture Trustee and the Rating Agencies prompt written notice of each Event of Default hereunder, each default on the part of the Servicer or the Seller of its obligations under the Sale and Servicing Agreement, each default on the part of TMCC of its obligations under the Receivables Purchase Agreement, each Swap Event of Default and any default by the Holder of the Revolving Liquidity Note of its obligations under the Revolving Liquidity Note Agreement.

  • Subsequent to a Swap Event of Default, a Swap Termination Event or a Swap Additional Termination Event, such amounts shall be distributed to the Class III-A-1-1 Certificates.

  • The Issuer shall give the Indenture Trustee and the Rating Agencies prompt written notice of each Event of Default hereunder, each default on the part of the Servicer or the Seller of its obligations under the Sale and Servicing Agreement[,] [and] each default on the part of TMCC of its obligations under the Receivables Purchase Agreement[, each Swap Event of Default] and [any default by the Holder of the Revolving Liquidity Note of its obligations under the Revolving Liquidity Note Agreement].

  • Prior to a Swap Event of Default, a Swap Termination Event or a Swap Additional Termination Event, any amount owed to the Class III-A-1-1 Underlying Interest in respect of any Net Rate Shortfall Carryforward Amounts shall be distributed to the Swap Provider.

  • Prior to any Swap Event with respect to which the Swap Event Reduction Amount would exceed $5,000,000, the Borrower shall provide written notice thereof to Administrative Agent.

  • The Issuing Entity may, from time to time, enter into one or more Replacement Interest Rate Swap Agreements if any Interest Rate Swap Agreement is terminated prior to its scheduled expiration pursuant to a Swap Event of Default or a Swap Termination Event.

  • The Issuer may, from time to time, enter into one or more replacement Interest Rate Swap Agreements if any Interest Rate Swap Agreement is terminated prior to its scheduled expiration pursuant to a Swap Event of Default or a Swap Termination Event.


More Definitions of Swap Event

Swap Event means the occurrence of any one or more of the following: (a) the Swap Provider shall have voluntarily commenced any proceeding or filed any petition under any bankruptcy, insolvency or similar law seeking the dissolutions, liquidation or reorganization of the Swap Provider, (b) involuntary proceedings or an involuntary petition shall have been commenced or filed against the Swap Provider by any person or entity under any bankruptcy, insolvency or similar law seeking the dissolution, liquidation or reorganization of the Swap Provider or an order of relief shall have been entered or such proceeding or petition shall not have been dismissed within sixty (60) days, or (c) the Swap Provider (i) shall fail to make any payment or deposit when due under the Swap Agreement or (ii) shall fail to perform or shall breach any covenant or any other agreement under the Swap Agreement and such failure to perform or breach is not cured within five Business Days, such period to begin at the time at which the Swap Provider knew, or reasonably should have known, of such breach or failure to perform.
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Swap Event means the termination of a Swap Agreement in whole or in part for any reason.
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Swap Event means any period following the termination of the Swap Agreement, in which the Trust shall have not entered into a new swap agreement with a swap counterparty acceptable to the Rating Agencies.
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Swap Event means the termination of a Swap Agreement in whole or in part for any reason or the termination of a transaction in whole under a Swap Agreement on an Early Termination Date (as defined in the relevant Swap Agreement) following an Event of Default or Termination Event thereunder (each as defined in the relevant Swap Agreement), in each case, in respect of the relevant Series.
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Swap Event has the meaning given to it in Section 5.4 herein. 1.54 "TERMINATION FOR CONVENIENCE" has the meaning given to it in Section 3.4 herein. 1.55 "THIRD PARTY LEASE(S)" has the meaning given to it in Special Terms, Section E of the US Equipment Schedule. 1.56 "UNIT" means an item of Equipment listed on an Equipment Schedule.
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Swap Event means in respect of each Hedging Agreement, either (a) an event of default (howsoever described) under that Hedging Agreement having occurred and continuing, or (b) the designation of an Early Termination Date (as defined in such Hedging Agreement) under that Hedging Agreement as a result of the occurrence of an event of default (howsoever described).
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Related to Swap Event

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Swap Termination Event means the occurrence of a “Termination Event” under the Swap Agreement, as defined in the Swap Agreement.]

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Book-Up Event means an event that triggers a positive adjustment to the Capital Accounts of the Partners pursuant to Section 5.5(d).

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Hedging Disruption Event means any event which, in the Issuer’s reasonable opinion, would make it illegal or commercially unfeasible for the Issuer to continue to hedge its obligations in relation to the Bond.

  • Mandatory Tender Event means (a) each failure by the Fund to make a scheduled payment of dividends on a Dividend Payment Date; (b) the occurrence of a Liquidity Provider Ratings Event (which shall constitute a single Mandatory Tender Event upon the occurrence of such Liquidity Provider Ratings Event, whether or not continuing and whether or not such Liquidity Provider Ratings Event also results in a Mandatory Purchase Event; provided that, a subsequent Liquidity Provider Ratings Event, following restoration of the short-term debt ratings to the requisite level, shall constitute a new Mandatory Tender Event); (c) in the event of a failure by the Fund to pay the Liquidity Provider the applicable fee due in advance under the terms of the VRDP Fee Agreement by seven Business Days prior to the beginning of the month to which such payment relates if the Liquidity Provider (in its sole discretion) thereafter provides written notice to the Fund that such failure to pay such fee constitutes a Mandatory Tender Event; (d) the eighth day prior to the scheduled date of the occurrence of an Extraordinary Corporate Event; (e) the Fund shall have obtained and delivered to the Tender and Paying Agent an Alternate VRDP Purchase Agreement by the fifteenth day prior to the Scheduled Termination Date, Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be, of the VRDP Purchase Agreement being replaced; (f) the Fund shall have provided a Notice of Proposed Special Rate Period in accordance with this Statement; or (g) in the event of a breach by the Fund of its Effective Leverage Ratio covenant with the Liquidity Provider in the VRDP Fee Agreement and the failure to cure such breach within 60 days from the date of such breach (which 60-day period would include the Effective Leverage Ratio Cure Period), if the Liquidity Provider (in its sole discretion) thereafter provides written notice to the Fund that the failure to timely cure such breach constitutes a Mandatory Tender Event (subject to the Fund curing such breach prior to the delivery date of such notice from the Liquidity Provider).

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Hedging Event means, with respect to the Notes, the occurrence of an event that has a material adverse effect on Royal Bank’s ability to place, maintain or modify any hedge, including without limitation:

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • Book-Down Event means an event that triggers a negative adjustment to the Capital Accounts of the Partners pursuant to Section 5.5(d).

  • Relevant Event means any Termination Event, Mandatory Prepayment Event or Further Novation Event, or any event which only with the passage of time, the giving of any notice or the fulfilment of any other condition (or a combination thereof) would constitute a Termination Event, Mandatory Prepayment Event or Further Novation Event;

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Flip-Over Event means any event described in clause (x), (y) or (z) of Section 13(a) hereof.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Downgrade Event means, unless otherwise specified on the Cover Sheet, for a Party means that Party’s Credit Rating falls below BBB- from S&P or Baa3 from Moody’s or becomes no longer rated by either S&P or Moody’s.

  • Master Servicer Event of Default wherever used herein, means any one of the following events:

  • Swap Termination Value means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the xxxx-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender).

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Termination Event means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to be applicable, a Credit Event Upon Merger or an Additional Termination Event.

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.