Swap Payments Accounts definition

Swap Payments Accounts means any account in the name of the LLP held with Santander UK plc (or any other Account Bank from time to time) through which payments under the Interest Rate Swap or the Covered Bond Swaps will be made;
View Source

Examples of Swap Payments Accounts in a sentence

  • The charges of the Account Banks for the operation of the each of the LLP Accounts (other than the Swap Payments Accounts and the Swap Collateral Accounts) held with the relevant Account Bank shall be debited to the GIC Account only on the first of each month in accordance with the order of priority set out in the LLP Deed and the Deed of Charge, and the LLP by its execution hereof irrevocably agrees that this shall be done.

  • There will be no charges for the operation of each of the Swap Payments Accounts and the Swap Collateral Accounts held with the relevant Account Bank.

  • In the case of the LLP Accounts, other than the Swap Payments Accounts and the Swap Collateral Accounts, the LLP has delivered to the relevant Account Bank prior to the First Issue Date the duly executed GIC Account Mandate, and the relevant Account Bank hereby confirms to the Security Trustee that the GIC Account Mandate has been provided to it, that the GIC Account is open and that the respective Mandate is operative.

  • In the case of the Swap Payments Accounts and the Swap Collateral Accounts, there will be no Mandate and the relevant Account Bank will act in accordance with the instructions of the Cash Manager under the Cash Management Agreement.

  • The Cash Manager undertakes (so far as it is able to procure the same) that as at the Programme Date the initial Swap Payments Accounts and the Swap Collateral Accounts will be operative and that the Cash Manager will not knowingly create or permit to subsist any Security Interest in relation to the Swap Payments Accounts and the Swap Collateral Accounts other than as created under or permitted pursuant to the Deed of Charge.