Trust Swap Payment definition

Trust Swap Payment. For each Swap Payment Date until the Swap Termination Date, the Fixed Amount as defined in the Swap Agreement. Trustee: U.S. Bank National Association, in its capacity as trustee under this Agreement and assigns in such capacity.
Sample 1Sample 2Sample 3
Trust Swap Payment means, as to the Swap Agreements with respect to any Quarterly Distribution Date, the excess, of (i) the aggregate amount accrued on the Notional Amounts of the Swap Agreements during the three Interest Periods immediately preceding such Quarterly Distribution Date (or in the case of the first Distribution Date, since the Closing Date) pursuant to the Swap Agreements over (ii) the aggregate amount payable under the Swap Agreements on such Quarterly Distribution Date by each Counterparty to the Trust.
Sample 1Sample 2Sample 3

Examples of Trust Swap Payment in a sentence

  • For avoidance of doubt, the parties acknowledge and agree that the amendment payment, if any, will be a payment pursuant to Section 2 of this Transaction for purposes of determining Net Trust Swap Payment or Net Trust Swap Receipt, as applicable.

  • As discussed above, for federal income tax purposes any payments to the Swap Counterparty under the Swap Agreement shall be treated as a payment to the Class X Certificateholders of the Net Trust Swap Payment and a payment from the holder of said certificate to the Swap Counterparty.


More Definitions of Trust Swap Payment

Trust Swap Payment. With respect to each Swap Payment Date, an amount equal to the product of (a) the lesser of (1) the sum of (A) the Formula Rate for the Class A1 Certificates for that Distribution Date and (B) the Swap Fee Rate and (2) the Subgroup 1 Net WAC Rate for the related Calculation Period, (b) the Swap Notional Amount and (c) a fraction, the numerator of which is the actual number of days elapsed in the related Calculation Period and the denominator of which 360, subject to reduction in the circumstances set forth in the Swap Agreement.
Sample 1Sample 2
Trust Swap Payment. With respect to each Swap Payment Date, an amount equal to the product of (a) 1/12, (b) 4.60% (c) the Swap Notional Amount and (d) the Swap Factor.
Sample 1Sample 2
Trust Swap Payment means, with respect to any Series with a Swap Agreement, the amount determined as set forth in the Terms Supplement for such Series.
Sample 1
Trust Swap Payment. With respect to each Swap Payment Date, an amount equal to the product of (a) the lesser of (1) the sum of (A) the Formula Rate for the Class III-A1 Certificates for the related Distribution Date and (B) the Swap Fee Rate for the related Calculation Period and (2) the Net WAC Rate with respect to the Group III Senior Certificates for the related Distribution Date, (b) the Swap Notional Amount and (c) a fraction, the numerator of which is the actual number of days elapsed in the related Calculation Period and the denominator of which 360, subject to reduction in the circumstances set forth in the Swap Agreement.
Sample 1

Related to Trust Swap Payment

  • Net Swap Payment With respect to each Distribution Date, the net payment required to be made pursuant to the terms of the Swap Agreement by either the Swap Provider or the Swap Administrator, which net payment shall not take into account any Swap Termination Payment.

  • Fixed Swap Payment With respect to any Distribution Date, a fixed amount equal to the related amount set forth in the Interest Rate Swap Agreement.

  • Floating Swap Payment With respect to any Distribution Date, a floating amount equal to the product of (i) Swap LIBOR, (ii) the related Base Calculation Amount (as defined in the Interest Rate Swap Agreement), (iii) 250 and (iv) a fraction, the numerator of which is the actual number of days elapsed from and including the previous Floating Rate Payer Payment Date (as defined in the Interest Rate Swap Agreement) to but excluding the current Floating Rate Payer Payment (or, for the first Floating Rate Payer Payment Date, the actual number of days elapsed from the Closing Date to but excluding the first Floating Rate Payer Payment Date), and the denominator of which is 360.

  • Swap Payment Date For so long as the Swap Agreement is in effect or any amounts remain unpaid thereunder, the Business Day immediately preceding each Distribution Date.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to zero until the outstanding principal amount of each Class of Notes has been reduced to zero, and thereafter, an amount equal to the Principal Distribution Amount (as reduced by the Noteholders’ Principal Distributable Amount, if any for such Distribution Date) for such Distribution Date.

  • Class A Noteholders’ Interest Distributable Amount means, with respect to any Payment Date, the sum of the Class A Noteholders’ Monthly Interest Distributable Amount for such Payment Date and the Class A Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • Class A Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class A Noteholders’ Interest Distribution Amount and the Class A Noteholders’ Principal Distribution Amount for that distribution date.

  • Class A Certificateholder The registered holder of a Class A Certificate.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • REMIC Swap Rate For each Distribution Date (and the related Accrual Period), a per annum rate equal to the Fixed Rate under the Swap Agreement for such Distribution Date, as set forth in the Prospectus Supplement.

  • Class A Noteholders’ Interest Distribution Amount means, for any distribution date, the sum of: • the amount of interest accrued at the class A note interest rates for the related accrual period on the aggregate outstanding principal balances of all classes of class A notes on the immediately preceding distribution date, after giving effect to all principal distributions to class A noteholders on that preceding distribution date; and • the Class A Note Interest Shortfall for that distribution date.

  • Class A-2 Certificateholder The registered holder of a Class A-2 Certificate.

  • Class A-PO Certificateholder The registered holder of a Class A-PO Certificate.

  • Class A-3 Certificateholder The registered holder of a Class A-3 Certificate.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Class A Noteholders’ Principal Distribution Amount means, for any distribution date, the Principal Distribution Amount times the Class A Percentage for that distribution date, plus any Class A Note Principal Shortfall as of the close of business on the preceding distribution date; provided that the Class A Noteholders’ Principal Distribution Amount will not exceed the outstanding principal balance of the class A notes, less all amounts, other than investment earnings, on deposit in the accumulation account.In addition, on the maturity date for any class of class A notes, the principal required to be distributed to the related noteholders will include the amount required to reduce the outstanding principal balance of that class to zero.

  • Net Swap Receipt With respect to any Distribution Date, any net payment (other than a Swap Termination Payment) made by the Swap Provider to the Trust on the related Floating Rate Payer Payment Date (as defined in the Interest Rate Swap Agreement).

  • Class A-1 Certificateholder The registered holder of a Class A-1 Certificate.

  • Noteholders’ Interest Carryover Amount means, with respect to any Class of Notes and any date of determination, all or any portion of the Noteholders’ Interest Distributable Amount for such Class of Notes for the immediately preceding Distribution Date which remains unpaid as of such date of determination, plus interest on such unpaid amount, to the extent permitted by law, at the respective Interest Rate borne by the applicable Class of Notes from such immediately preceding Distribution Date to but excluding such date of determination.

  • Eligible Swap Counterparty means an entity, which may be an affiliate of a remarketing agent, engaged in the business of entering into derivative instrument contracts that satisfies the Rating Agency Condition.

  • Class A Servicing Fee shall have the meaning specified in Section 3.01.

  • Class A-4 Certificateholder The registered holder of a Class A-4 Certificate.

  • Class A-R Certificateholder The registered holder of the Class A-R Certificate.

  • Noteholders’ Monthly Interest Distributable Amount means, with respect to any Distribution Date and any Class of Notes, interest accrued at the respective Interest Rate during the applicable Interest Period on the principal amount of the Notes of such Class outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date), calculated (x) for the Class A-1 Notes and the Class A-2-B Notes on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period and (y) for all other Classes of Notes on the basis of a 360-day year consisting of twelve 30-day months (without adjustment for the actual number of business days elapsed in the applicable Interest Period), except with respect to the first Interest Period.

  • Class B Noteholders’ Monthly Interest Distributable Amount means, with respect to any Payment Date, interest accrued for the related Interest Accrual Period on the Class B Notes at the interest rate for such Class on the Outstanding Amount of the Notes of such Class on the immediately preceding Payment Date (or, in the case of the initial Payment Date, on the Closing Date), after giving effect to all payments of principal to the Noteholders of such Class on or prior to such preceding Payment Date. For all purposes of this Agreement and the Basic Documents, interest with respect to all Class B Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The interest due on these Classes of notes on each Payment Date will be the product of: · the Outstanding Principal Balance of the Class B Notes; · the Class B Interest Rate; and · 30 (or, in the case of the initial Payment Date, 26) divided by 360.