Swap Loss definition

Swap Loss means (i) where the Swap Value would be payable to the Swap Counterparty, the absolute value of the Swap Value, or (ii) otherwise, zero;
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Swap Loss means (i) where the Swap Value would be payable to the Swap Counterparty, the absolute value of the Swap Value, or (ii) otherwise, zero; “Swap Value” means, with respect to the Valuation Date, an amount determined by the Calculation Agent in EUR equal to the Early Termination Amount (as defined in the Swap Agreement) of the Swap Agreement (but excluding any Unpaid Amounts relating to the Credit Support Balance of the Issuer under the Credit Support Annex) that would be payable by the Issuer to the Swap Counterparty or by the Swap Counterparty to the Issuer, under the Swap Agreement upon a termination, on the Valuation Date, of the Swap Agreement (including, for the avoidance of doubt, the CDS Transaction). Such Early Termination Amountshall be determined on the basis that: (i) the Swap Counterparty is not the Affected Party; (ii) the Base Currency is EUR; (iii) the Swap Counterparty’s claim to any Early Termination Amount payable by the Issuer shall be limited to the prevailing Value of the Original Collateral; (iv) the occurrence of a Collateral Event where a Collateral CDS Credit Event Determination has also occurred on or prior or the Collateral Event Valuation Date shall lead to the termination of the Swap Agreement with no amount payable on such termination by either party except with respect to the CDS Transaction; (v) (v) the Calculation Agent is the Determining Party and Section 6(e)(ii)(1) of the Swap Agreement applies but without reference to Section 6(e)(ii)(3) thereof; and (vi) the portion of the Party A Payment Amounts relating to the Interest Amounts payable under the Notes shall be valued taking into account that upon an occurrence of a Credit Event Determination Date such portion of the cashflows would cease to accrue from and including the Interest Payment Date immediately preceding such Credit EventDetermination Date (or, if no such
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Swap Loss means the present value of the loss (if any) which would be made by the Swap Counterparty under the Swap Agreement as a result of the replacement by the Swap Counterparty of Defaulted Collateral under sub- paragraph 19 above, as determined by the Swap Counterparty acting in good faith and in a commercially reasonable manner. Investors should be aware that in certain circumstances, (in particular if there are amounts payable by the Issuer to the Swap Counterparty on the termination of the Swap Agreement) the Early Termination Unwind Costs may represent a considerable portion, or may even exceed the Collateral Market Value.
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Examples of Swap Loss in a sentence

  • Where Classes apply, the Affected Swap Gain or Affected Swap Loss in respect of each Class of Notes will be valued separately, in the Base Currency for such Class, and a relevant portion of the Credit Support Annex will be similarly attributed to each Class of Notes.

  • The Affected Swap Gain or Affected Swap Loss takes into account, among other things, (i) the scheduled payments under the Notes; (ii) the scheduled payments under the Original Collateral which determine the amounts payable by the Issuer to the Swap Counterparty under the Swap Agreement; and (iii) the limited recourse nature of the Swap Agreement in respect of the Issuer's obligations thereunder.

  • The Affected Swap Gain or Affected Swap Loss takes into account, among other things, (i) the scheduled payments under the Notes; (ii) the scheduled payments under the Original Collateral which determine the amounts payable by the Issuer to the Swap Counterparty under the Swap Agreement; and (iii) the limited recourse nature of the Swap Agreement in respect of the Issuer’s obligations thereunder.

  • For a description of “Applicable Proportion”, please refer to “What is the Applicable Proportion?” of the Annex to the CLN Conditions Product Supplement Frequently Asked Questions on page 225.The Affected Swap Gain or Affected Swap Loss reflects the early termination amount that the Calculation Agent determines would be payable to the Issuer (in the case of an Affected Swap Gain) or by the Issuer (in the case of an Affected Swap Loss) upon the early termination of the Swap Agreement.

  • Where Classes apply, the Affected Swap Gain or Affected Swap Loss in respect of eachClass of Notes will be valued separately, in the Base Currency for such Class, and a relevant portion of the Credit Support Annex will be similarly attributed to each Class of Notes.

  • The Affected Swap Gain or Affected Swap Loss takes into account, among other things, (i) the scheduled payments under the Notes; (ii) the scheduled payments under the Original Collateral which determine the amounts payable by the Issuer to the Swap Counterparty under the Swap Agreement; and(iii) the limited recourse nature of the Swap Agreement in respect of the Issuer's obligations thereunder.

  • For a description of "Applicable Proportion", please refer to "What is the Applicable Proportion?" of the Annex to the CLN Conditions Product Supplement Frequently Asked Questions on page 251.The Affected Swap Gain or Affected Swap Loss reflects the early termination amount that the Calculation Agent determines would be payable to the Issuer (in the case of an Affected Swap Gain) or by the Issuer (in the case of an Affected Swap Loss) upon the early termination of the Swap Agreement.

  • For a description of "Applicable Proportion", please refer to "What is the Applicable Proportion?" of the Annex to the CLN Conditions Product Supplement Frequently Asked Questions on page 270.The Affected Swap Gain or Affected Swap Loss reflects the early termination amount that the Calculation Agent determines would be payable to the Issuer (in the case of an Affected Swap Gain) or by theIssuer (in the case of an Affected Swap Loss) upon the early termination of the Swap Agreement.

  • For a description of "Applicable Proportion", please refer to "What is the Applicable Proportion?" of the Annex to the CLN Conditions Product Supplement Frequently Asked Questions on page 240.The Affected Swap Gain or Affected Swap Loss reflects the early termination amount that the Calculation Agent determines would be payable to the Issuer (in the case of an Affected Swap Gain) or by the Issuer (in the case of an Affected Swap Loss) upon the early termination of the Swap Agreement.

  • For a description of "Applicable Proportion", please refer to "What is the Applicable Proportion?" of the Annex to the CLN Conditions Product Supplement Frequently Asked Questions on page 218.The Affected Swap Gain or Affected Swap Loss reflects the early termination amount that the Calculation Agent determines would be payable to the Issuer (in the case of an Affected Swap Gain) or by the Issuer (in the case of an Affected Swap Loss) upon the early termination of the Swap Agreement.

Related to Swap Loss

  • Swap Receipt Amount Swap Termination Payment"

  • Swap LIBOR With respect to any Distribution Date (and the related Accrual Period) the product of (i) the Floating Rate Option (as defined in the Swap Agreement for the related Swap Payment Date), (ii) two and (iii) the quotient of (a) the actual number of days in the Accrual Period for the Lower Tier REMIC Interests divided by (b) 30.

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

  • Swap Contract means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement.

  • Excess Loss The amount of any (i) Fraud Loss realized after the Fraud Loss Coverage Termination Date, (ii) Special Hazard Loss realized after the Special Hazard Coverage Termination Date or (iii) Bankruptcy Loss realized after the Bankruptcy Coverage Termination Date.

  • Fixed Swap Payment With respect to any Distribution Date, a fixed amount equal to the related amount set forth in the Interest Rate Swap Agreement.

  • REMIC Swap Rate For each Distribution Date (and the related Accrual Period), a per annum rate equal to the Fixed Rate under the Swap Agreement for such Distribution Date, as set forth in the Prospectus Supplement.

  • Swap Payment Date For so long as the Swap Agreement is in effect or any amounts remain unpaid thereunder, the Business Day immediately preceding each Distribution Date.

  • Swap Notional Amount With respect to any Distribution Date is the amount set forth on Schedule II attached hereto with respect to such Distribution Date.

  • Specified Swap Obligation means, with respect to any Loan Party, any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act or any rules or regulations promulgated thereunder.

  • Interest Swap and Hedging Obligation means any obligation of any Person pursuant to any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate exchange agreement, currency exchange agreement or any other agreement or arrangement designed to protect against fluctuations in interest rates or currency values, including, without limitation, any arrangement whereby, directly or indirectly, such Person is entitled to receive from time to time periodic payments calculated by applying either a fixed or floating rate of interest on a stated notional amount in exchange for periodic payments made by such Person calculated by applying a fixed or floating rate of interest on the same notional amount.

  • Net Swap Payment With respect to each Distribution Date, the net payment required to be made pursuant to the terms of the Swap Agreement by either the Swap Provider or the Swap Administrator, which net payment shall not take into account any Swap Termination Payment.

  • Swap means any agreement, contract, or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act.

  • 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).

  • Mid-Swap Rate means, in relation to a Reset Determination Date and subject to Condition 4(b)(ii), either:

  • Floating Swap Payment With respect to any Distribution Date, a floating amount equal to the product of (i) Swap LIBOR, (ii) the related Base Calculation Amount (as defined in the Interest Rate Swap Agreement), (iii) 250 and (iv) a fraction, the numerator of which is the actual number of days elapsed from and including the previous Floating Rate Payer Payment Date (as defined in the Interest Rate Swap Agreement) to but excluding the current Floating Rate Payer Payment (or, for the first Floating Rate Payer Payment Date, the actual number of days elapsed from the Closing Date to but excluding the first Floating Rate Payer Payment Date), and the denominator of which is 360.

  • Excess Fraud Loss Any Fraud Loss, or portion thereof, which exceeds the then applicable Fraud Loss Amount.

  • Net Hedging Obligations means, as of any date, the Termination Value of any such Hedging Agreement on such date.

  • Net Loss means, for each fiscal year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period as determined for federal income tax purposes by the General Partner, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

  • Hedge Breakage Costs means, with respect to each Hedge Counterparty upon the early termination of any Hedge Transaction with such Hedge Counterparty, the net amount, if any, payable by the Borrower to such Hedge Counterparty for the early termination of that Hedge Transaction or any portion thereof.

  • Commodity Hedging Agreement means any agreement with respect to a commodity swap or other agreement regarding the hedging of commodity purchase and sale exposure executed in connection with hedging the commodity purchase and sale exposure of the Borrower and its Subsidiaries, and any confirming letter executed pursuant to such commodity hedging agreement, all as amended, restated or otherwise modified.

  • Shared Loss Payment Trigger means when the sum of the Cumulative Loss Amount under this Single Family Shared-Loss Agreement and the Shared-Loss Amount under the Commercial and Other Assets Shared-Loss Agreement, exceeds the First Loss Tranche. If the First Loss Tranche is zero or a negative number, the Shared Loss Payment Trigger shall be deemed to have been reached upon Bank Closing.

  • Cram Down Loss means, with respect to any Receivable (other than a Defaulted Receivable) as to which any court in any bankruptcy, insolvency or other similar Proceeding issues an order reducing the principal amount to be paid on such Receivable or otherwise modifies any payment terms with respect thereto, an amount equal to the amount of the principal reduction ordered by such court. A “Cram Down Loss” will be deemed to have occurred on the date of issuance of such court’s order.

  • Ultimate Net Loss as used in this Contract shall mean the sum or sums (including loss in excess of policy limits, extra contractual obligations and loss adjustment expense, as defined herein) paid or payable by the Company in settlement of claims and in satisfaction of judgments rendered on account of such claims, after deduction of all salvage, all recoveries and all claims on inuring insurance or reinsurance, whether collectible or not. Nothing herein shall be construed to mean that losses under this Contract are not recoverable until the Company's ultimate net loss has been ascertained.

  • Unrealized Loss attributable to any item of Partnership property means, as of any date of determination, the excess, if any, of (a) the Carrying Value of such property as of such date (prior to any adjustment to be made pursuant to Section 5.5(d) as of such date) over (b) the fair market value of such property as of such date (as determined under Section 5.5(d)).

  • Estimated Swap Termination Payment means, with respect to an Early Termination Date, an amount determined by Party A in good faith and in a commercially reasonable manner as the maximum payment that could be owed by Party B to Party A in respect of such Early Termination Date pursuant to Section 6(e) of the ISDA Master Agreement, taking into account then current market conditions.