Swap Policy definition

Swap Policy means the Interest Rate Swap Insurance Policy dated as of the Closing Date issued by the Note Insurer for the benefit of the Initial Swap Counterparty with respect to the Initial Interest Rate Swap Agreement.

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Swap Policy means the financial guaranty insurance policy, including any endorsements thereto, issued by Financial Security with respect to the Swap Agreement, substantially in the form attached as Annex I(B) to the Insurance Agreement.

Swap Policy means the Interest Rate Swap Insurance Policy No. SW0350BE issued by Ambac, which guarantees certain payments due under the Swap Agreement.

Examples of Swap Policy in a sentence

• Each of Party A and Party B hereby acknowledges that, to the extent of payments made by the Insurer to Party A under the Swap Policy, the Insurer shall be fully subrogated to the rights of Party A against Party B under the Transaction to which such payments relate, including, but not limited to, the right to receive payment from Party B and the enforcement of any remedies against Party B.

• The Insurer may disclaim any of its rights and powers under this Agreement (but not its duties and obligations under the Note Policy or the Swap Policy) upon delivery of a written notice to the Owner Trustee.

• In addition, Party A shall not be precluded from communicating with the Indenture Trustee, the Insurer or any party to, or any third party beneficiary under, the Indenture or the Sale and Servicing Agreement for the purpose of exercising, enforcing or protecting any of Party A’s rights or remedies under this Agreement or any rights, interests or benefits granted to Party A under the Indenture, the Sale and Servicing Agreement or the Swap Policy.

• Notwithstanding Section 2(a)(iii) of this Agreement or Paragraph 4(a) of the Credit Support Annex, if applicable, Party A shall not suspend any payments due under a Transaction or the transfer of Eligible Credit Support under the Credit Support Annex, if applicable, unless the Insurer is in default in respect of any payment obligation under the Swap Policy.

• Each of Party A and Party B acknowledges and agrees that the Insurer’s obligations with respect to the Transactions shall be limited to the terms of the Swap Policy.

More Definitions of Swap Policy

Swap Policy means the interest swap insurance policy issued by the Insurer to the Swap Counterparty with respect to the Swap Agreement, including any endorsements thereto.

Swap Policy means the Financial Guaranty Insurance Policy For Swap Agreement No. 07030063 issued by the Insurer, which guarantees certain payments due under the Swap Agreement.

Swap Policy has the meaning set forth in the recitals to this Agreement.

Swap Policy. The financial guaranty insurance policy issued on ----------- September 25, 1997 by the Swap Guarantor (Policy No. SF0046BE). "Swap Termination Event": A Termination Event under and as defined in ----------------------- the Swap Agreement. "Trust": Mortgage Index Amortizing Trust 1997-1; the trust created by ----- the Trust Agreement and by the filing with the Secretary of State of the State of Delaware a Certificate of Trust of the Trust. "Trust Agreement": The trust agreement entered into between the Owner --------------- Trustee and the Depositor, dated as of September 1, 1997, as amended, supplemented or otherwise modified from time to time pursuant to the terms thereof. "Trust Estate": The meaning specified in the Granting Clause. ------------ "UCC": The Uniform Commercial Code as in effect in the State of New --- York as of the date hereof. "Uncertificated Security": The meaning specified in Section 8-102(1)(b) ----------------------- of the UCC. "Underlying Agreement": The Pooling and Servicing Agreement dated as -------------------- of September 1, 1992 as supplemented by the series supplements thereto relating to Series 1997-5, Series 1997-2, Series 1997-1 and Series 1996-4, between First USA Bank, as transferor and servicer, and The Bank of New York (Delaware), as trustee pursuant to which the CABS were originally issued.

Swap Policy means the Debt Service Insurance Policy dated December 14, 2000 issued by the Insurer to ▇▇▇▇▇▇▇ ▇▇▇▇▇ Capital Services, Inc., a copy of which is attached as Exhibit L, including any novation and assumption of liability by the Reinsurer, as provided in the Assumption of Liability and Novation Endorsement (Swap) to the Swap Reinsurance Agreement.

Swap Policy means the financial guaranty issued by the Swap Policy Provider, insuring the contractual amounts due for payment by or on behalf of the School Board pursuant to the Swap Agreement.

Swap Policy means the interest swap insurance policy issued by the Insurer to the Hedge Provider with respect to the Hedge Agreement, including any endorsements thereto.