Swap Party definition

Swap Party means any party to a Swap Contract that is the Lender or any Affiliate of the Lender (including, without limitation, CRM).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Swap Party means each Secured Swap Provider (as defined in the Credit Agreement) that is a holder of an Allowed Secured Swap Claim.

Swap Party any party to a Hedging Agreement that is a Lender or an Affiliate of a Lender (or at the time the applicable Hedging Agreement was entered into was a Lender or an Affiliate of a Lender (or if entered into prior to the Closing Date, then was a Lender or Affiliate of a Lender on the Closing Date)), provided that in the case of any such Affiliate, (a) the Majority Lenders shall have consented to such Person being a Swap Party (which consent shall not be unreasonably withheld or delayed) and (b) such Affiliate shall have executed and delivered to the Agent a joinder to this Agreement (in form and substance and within a time frame satisfactory to the Majority Lenders) agreeing to be bound by the provisions of this Agreement respecting the role of the Agent, including, without limitation, all exculpatory provisions and indemnification provisions, as if such Affiliate were a Lender hereunder and the obligations under the Hedging Agreement were Obligations hereunder.

Examples of Swap Party in a sentence

• No Secured Swap Party shall have any voting rights under any Loan Document as a result of the existence of obligations owed to it under any such Swap Agreements.

• No Secured Swap Party or Treasury Management Lender shall have any voting or approval rights under any Loan Document as a result of the existence of obligations owed to it under any such Swap Agreements or Lender Treasury Management Agreements, as applicable.

• Except as expressly set forth in Section 12.02(b), no Secured Swap Party shall have any voting rights under any Loan Document as a result of the existence of any Secured Swap Obligations owed to it.

• Except as provided in Section 12.02(b), no Secured Swap Party or Secured Cash Management Provider shall have any voting rights under any Loan Document as a result of the existence of any Secured Swap Obligation or Secured Cash Management Obligation owed to it.

• By accepting the benefits of the Collateral, each Secured Swap Party agrees that, notwithstanding anything to the contrary in any of its Swap Agreements with Parent Guarantor, the Borrower or any other Credit Party, Parent Guarantor, the Borrower and the other Credit Parties may grant Liens under the Loan Documents that burden and attach to such Swap Agreements and the rights of Parent Guarantor, the Borrower and the other Credit Parties thereunder.

More Definitions of Swap Party

Swap Party any party to a Swap Agreement that is a Lender or an Affiliate of a Lender (or at the time the applicable Swap Agreement was entered into was a Lender or an Affiliate of a Lender), provided that in the case of any such Affiliate, (a) the Agent shall have consented to such Person being a Swap Party (which consent shall not be unreasonably withheld or delayed) and (b) such Affiliate shall have executed and delivered to the Agent a joinder to this Agreement (in form and substance satisfactory to the Agent) agreeing to be bound by the provisions of this Agreement respecting the role of the Agent, including all exculpatory provisions and indemnification provisions, as if such Affiliate were a Lender hereunder and the obligations under the Interest Rate Protection Agreement were Obligations hereunder or such other arrangement as Agent shall agree to.

Swap Party means a person who is party to a SWAP agreement and whose senior obligations are rated at the time of the execution and delivery of such SWAP agreement in one of the three highest rating categories (without regard to gradations within a category) by (i) Standard & Poor’s Corporation or its successor and (ii) Moody’s Investors Service or its successor.

Swap Party means each entity that is a party to either a Qualified Swap Agreement or a Swap entered into with the Authority.

Swap Party means any Person who becomes party hereto as "Swap Party" in accordance with Section 2.03 hereof.

Swap Party means a counterparty to any Hedge Agreement.

Swap Party means any Existing Lender, New Lender or Affiliate thereof that enters into or has entered into a Secured Swap Arrangement with a NOVA Party, in each such case for so long as any obligations of a NOVA Party to such counterparty under such Secured Swap Arrangement remain in effect.

Swap Party means any Lender or any of its Affiliates in its capacity as an individual counterparty under any Rate Contract entered into as contemplated by Section 6.13.