Swap Termination means the occurrence of an “Early Termination Date” under the Swap Agreement, as defined in the Swap Agreement.]
Swap Termination means any assignment, termination, sale or unwind of any hedge position under any Swap Agreement prior to its maturity or the creation of any off-setting position (whether evidenced by a floor, put or Swap Agreement) with respect to any such position.
Swap Termination means any Swap Agreement, which has been given value in the then effective Borrowing Base, (a) is terminated or (b) is not fully performed for any reason by the counterparty thereto (unless such counterparty is a Non-Defaulting Lender or an Affiliate of a Non-Defaulting Lender).
Examples of Swap Termination in a sentence
In no event shall Swap Termination Payments have a lien on the Revenues that is prior to or on a parity with the Lien securing the Parity Debt and the Reimbursement Obligations.
Lastly, given the general relevance of the issues under discussion in the judgments referred to above and that the Programme Documents will include terms providing for the subordination of Excluded Swap Termination Amounts, there is a risk that the final outcome of the dispute in such judgments (including any recognition action by the New Zealand courts) may result in negative rating pressure in respect of the Covered Bonds.
A New Zealand court would be unlikely to apply a law other than the law of New Zealand to the priority of distribution in respect of Excluded Swap Termination Amounts under the Establishment Deed.
Such provisions are similar in effect to the terms which are included in the Programme Documents (in particular the Establishment Deed and the Security Deed) relating to the subordination of Excluded Swap Termination Amounts.
On each Distribution Date to and including the Distribution Date in March 2011, Net Swap Payments and Swap Termination Payments (other than Swap Termination Payments resulting from a Swap Provider Trigger Event) payable by the Supplemental Interest Trust to the Swap Provider pursuant to the Swap Agreement for such Distribution Date shall be remitted to the Supplemental Interest Trustee for deposit into the Supplemental Interest Trust.
More Definitions of Swap Termination
Swap Termination. In respect of a Series, upon the occurrence of an “Event of Default” under Section 5(a)(vii) (Bankruptcy) of the Swap Agreement in respect of the Swap Counterparty:
Swap Termination means any termination, including early termi- nation, of a Swap.
Swap Termination. Value shall mean, in respect of any one or more Interest Rate Xxxxxx, after taking into account the effect of any legally enforceable netting agreement relating to such Interest Rate Xxxxxx, (a) for any date on or after the date such Interest Rate Xxxxxx 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 amounts(s) determined as the xxxx-to-market values(s) for such Interest Rate Xxxxxx, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Interest Rate Xxxxxx. Synthetic Lease means, at any time, any lease (including leases that may be terminated by the lessee at any time) of any property (a) that is accounted for as an operating lease under GAAP and (b) in respect of which the lessee retains or obtains ownership of the property so leased for U.S. federal income tax purposes, other than any such lease under which such Person is the lessor. Taxes shall mean all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Official Body, including any interest, additions to tax or penalties applicable thereto. Unfunded Capital Expenditures shall mean capital expenditures made from any Borrower’s funds other than funds borrowed as term debt (including Capital Leases) to finance such capital expenditures.
Swap Termination. Value shall mean, in respect of any one or more Interest Rate Xxxxxx, after taking into account the effect of any legally enforceable netting agreement relating to such Interest Rate Xxxxxx, (a) for any date on or after the date such Interest Rate Xxxxxx 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 amounts(s) determined as the xxxx-to-market values(s) for such Interest Rate Xxxxxx, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Interest Rate Xxxxxx. Swap shall mean any "swap" as defined in Section 1a(47) of the CEA and regulations thereunder, other than (a) a swap entered into, or subject to the rules of, a board of trade designated as a contract market under Section 5 of the CEA, or (b) a commodity option entered into pursuant to CFTC Regulation 32.3(a). Swap Obligation shall mean any obligation to pay or perform under any agreement, contract or transaction that constitutes a Swap which is also a Lender Provided Interest Rate Hedge, or a Lender Provided Foreign Currency Hedge.
Swap Termination. Value shall mean, in respect of any Swap Contract, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contract, (a) for any date on or after the date such Swap Contract has been closed out and a termination value determined in accordance therewith, such termination value and (b) for any date prior to the date referenced in clause (a), the amount determined as the xxxx-to-market value for such Swap Contract, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contract (which may include Lender or any Affiliate of Lender). Taxes shall have the meaning ascribed thereto in Section 2.20(a). Transaction Documents shall mean this Agreement, the Note, the Pledge Agreement, and any and all other agreements, documents and instruments heretofore, now or hereafter delivered to Lender with respect to or in connection with or pursuant to this Agreement, any Advances made hereunder, any of Borrower’s Obligations and/or any guarantee of any of Borrower’s Obligations, and executed by or on behalf of Borrower and/or Guarantor, each as the same may from time to time be amended, modified, extended, renewed or restated. Voting Stock shall mean, with respect to any corporation or other entity, any shares of stock or other equity interests of such corporation or other entity whose holders are entitled under ordinary circumstances to vote for the election of directors (or Persons performing similar functions) of such corporation or other entity (irrespective of whether at the time stock or other equity interests of any other class or classes shall have or might have voting power by reason of the happening of any contingency).
Swap Termination means any Disposition, termination, sale or unwind of any hedge position under any Swap Contract or the creation of any off-setting position (whether evidenced by a floor, put or Swap Contract) with respect to any such position.
Swap Termination. Value shall mean, in respect of any Swap Contract, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contract, (a) for any date on or after the date such Swap Contract has been closed out and a termination value determined in accordance therewith, such termination value and (b) for any date prior to the date referenced in clause (a), the amount determined as the xxxx-to-market value for such Swap Contract, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contract (which may include a Lender or any affiliate of a Lender).