Synthetic Interest definition

Synthetic Interest means any Synthetic Long Interest or Synthetic Short Interest;
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Examples of Synthetic Interest in a sentence

  • CIBC’s contemporaneous projections of its payment obligations to Cerberus also disprove its claimed “understandings.” CIBC’s monthly cashflow projections, from the closing of the A Note forward, did not limit Synthetic LIBOR and Synthetic Interest to the interest paid on the Altius IV bonds, and did not equate Altius IV Individual RONA with the Altius IV bonds’ unpaid principal balance.

  • It is not credible that Patel defined CIBC’s Synthetic Interest and Synthetic LIBOR obligations based on the Swaps’ Relevant Notional Amount without understanding exactly what that meant, given that she: (1) was CIBC’s in-house expert on swap transactions; (2) negotiated and drafted the Altius IV Swaps; and (3) knew—and advised Goldman—the Relevant Notional Amount froze upon physical delivery.

  • After CIBC reversed its position before this Court and admitted that the Altius IV Swaps’ Relevant Notional Amount was frozen by physical settlement, the First Department held the Contracts unambiguously require CIBC to pay Synthetic Interest and Synthetic LIBOR based on the frozen Relevant Notional Amount.

  • Cerberus noted that, after liquidation, CIBC would continue to owe Synthetic LIBOR (and Synthetic Interest) on the Relevant Notional Amount of the Altius IV Swaps, which was frozen through 2042.Contrary to its post-litigation purported “understandings,” CIBC did not respond that its Synthetic LIBOR payment obligations were based on the unpaid principal balance of the Altius IV bonds or were limited to the bonds’ cashflows.

  • The player-driven and software blocking approaches were considered inferior due to significant limitations as identified in the table.

  • This Court denied Cerberus’s motion, holding “CIBC sufficiently alleges that the terms of the A Note should have specifically reflected that payments for Synthetic Libor and Synthetic Interest would be reduced by various means, including principal payments.” (Dkt.

  • Under the first, if the underlying bonds did not pay interest, CIBC still must pay Synthetic Interest and Synthetic LIBOR based on the bonds’ unpaid principal balance.

  • Synthetic LIBOR was “LIBOR … times the notional amount of the swap[s];” Synthetic Interest was “the premiums from the swaps,” calculated “based on the notional amount of the swap[s].” (Tr. 97:10-99:15; PX-0344.0005).

  • The synthetic assets are the bonds.”) with Ex. O at 43:15-24 (“The synthetic assets were the CDS that CIBC had on those reference obligations Altius III and Altius IV.”).Finally, CIBC told this Court that Synthetic Interest for Altius IV is based on Altius IV Individual RONA.

  • Here, taken as a whole, the overarching purpose and intent of the B Certificate was to follow form from the A Note with respect to the calculation of monthly payments, including Synthetic Interest and LIBOR.

Related to Synthetic Interest

  • Synthetic Debt means, with respect to any Person as of any date of determination thereof, all obligations of such Person in respect of transactions entered into by such Person that are intended to function primarily as a borrowing of funds (including any minority interest transactions that function primarily as a borrowing) but are not otherwise included in the definition of “Indebtedness” or as a liability on the consolidated balance sheet of such Person and its Subsidiaries in accordance with GAAP.

  • Synthetic Long Position means any option, warrant, convertible security, stock appreciation right, swap agreement or other security, contract right or derivative position, whether or not presently exercisable, that has an exercise or conversion privilege or a settlement payment or mechanism at a price related to the value of Common Stock or a value determined in whole or part with reference to, or derived in whole or in part from, the value of Common Stock and that increases in value as the value of Common Stock increases or that provides to the holder an opportunity, directly or indirectly, to profit or share in any profit derived from any increase in the value of Common Stock, in any case without regard to whether (i) such derivative conveys any voting rights in such securities to such Person or any of such Person’s Affiliates or Associates, (ii) such derivative is required to be, or capable of being, settled through delivery of such securities, or (iii) such Person or any of such Person’s Affiliates or Associates may have entered into other transactions that hedge the economic effect of such derivative. A Synthetic Long Position shall not include any interests, rights, options or other securities set forth in Rule 16a-1(c)(1)-(5) or (7) of the General Rules and Regulations under the Exchange Act.

  • Synthetic Lease means any synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing arrangement whereby the arrangement is considered borrowed money indebtedness for tax purposes but is classified as an operating lease or does not otherwise appear on a balance sheet under GAAP.

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.

  • Synthetic Lease Obligation means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Subsidiary REMIC Interest Any one of the Subsidiary REMIC Interests or the SR-A-R Interest.

  • Synthetic Lease Obligations means, with respect to any Person, the sum of (i) all remaining rental obligations of such Person as lessee under Synthetic Leases which are attributable to principal and, without duplication, (ii) all rental and purchase price payment obligations of such Person under such Synthetic Leases assuming such Person exercises the option to purchase the lease property at the end of the lease term.

  • Participation Interest means the purchase by a Lender of a participation interest in Letters of Credit as provided in Section 2.2 and in Swingline Loans as provided in Section 2.3.

  • Synthetic Leases means, in respect of any Person, all leases which shall have been, or should have been, in accordance with GAAP, treated as operating leases on the financial statements of the Person liable (whether contingently or otherwise) for the payment of rent thereunder and which were properly treated as indebtedness for borrowed money for purposes of U.S. federal income taxes, if the lessee in respect thereof is obligated to either purchase for an amount in excess of, or pay upon early termination an amount in excess of, 80% of the residual value of the Property subject to such operating lease upon expiration or early termination of such lease.

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Class R-III Interest The uncertificated Residual Interest in REMIC III.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Periodic Interest means, with respect to any Payment Date, the periodic interest for such Payment Date as specified in the Series Supplement.

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Lower Tier Interest As described in the Preliminary Statement.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Participation Interests shall have the meaning specified in subsection 2.09(a)(ii).

  • Water interest means any right to the beneficial use of water, including:

  • REMIC I Interests The REMIC I Regular Interests and the Class R-I Certificates.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Asset Interest is defined in Section 2.1(b).

  • Participating Interest is defined in Section 1.2(d) hereof.

  • Participation Percentage means the rounded percentage of the total actual Project costs that will be contributed by the OPWC, not to exceed the maximum dollar contribution of the OPWC identified in this Project Agreement, and the rounded percentage of the total actual Project costs that will be contributed by the Recipient. Both percentages are identified in Appendix B. If the total actual Project costs exceed the estimated Project costs identified in Appendix B, the Local Subdivision Participation Percentage will increase to reflect the cost overrun, while the OPWC percentage contribution will decrease recognizing that there is a maximum dollar contribution from the OPWC which is identified in this Project Agreement.