Early Payment shall be applicable. For each Calculation Period, the Floating Rate Payer Payment Date shall be the first Business Day prior to the related Floating Rate Payer Period End Date. Floating Rate Payer Period End Dates:... The 25th calendar day of each month during the Term of this Transaction, commencing May 25, 2006 and ending on the Termination Date, subject to adjustment in accordance with the Business Day Convention. Floating Rate Option:................... USD-LIBOR-BBA Floating Amount:........................ To be determined in accordance with the following formula: 10 * Floating Rate * Notional Amount *Floating Rate Day Count Fraction. Designated Maturity:.................... One month Floating Rate Day Count Fraction:....... Actual/360 Reset Dates:............................ The first day of each Calculation Period. Compounding:............................ Inapplicable Business Days:.......................... New York Business Day Convention:................ Following Amendment to Section 2(c) of the Agreement: Notwithstanding anything to the contrary in Section 2(c) of the Agreement, amounts that are payable with respect to Calculation Periods which end in the same calendar month (prior to any adjustment of period end dates) shall be netted, as provided in Section 2(c) of the Agreement, even if such amounts are not due on the same payment date. For avoidance of doubt any payments pursuant to Section 6(e) of the Agreement shall not be subject to netting.
Appears in 1 contract
Sources: Swap Transaction Confirmation (Morgan Stanley Mortgage Loan Trust 2006-6ar)
Early Payment shall be applicable. For each Calculation Period, the Floating Rate Payer Payment Date shall be the first Business Day prior to the related Floating Rate Payer Period End Date. Floating Rate Payer Period End Dates:... The 25th calendar day of each month during the Term of this Transaction, commencing May November 25, 2006 and ending on the Termination Date, subject to adjustment in accordance with the Business Day Convention. Floating Rate Option:................... USD-LIBOR-BBA Floating Amount:........................ To be determined in accordance with the following formula: 10 * Floating Rate * Notional Amount *Floating Rate Day Count Fraction. Designated Maturity:.................... One month Floating Rate Day Count Fraction:....... Actual/360 Reset Dates:............................ The first day of each Calculation Period. Compounding:............................ Inapplicable Business Days:.......................... New York Business Day Convention:................ Following Amendment to Section 2(c) of the Agreement: Notwithstanding anything to the contrary in Section 2(c) of the Agreement, amounts that are payable with respect to Calculation Periods which end in the same calendar month (prior to any adjustment of period end dates) shall be netted, as provided in Section 2(c) of the Agreement, even if such amounts are not due on the same payment date. For avoidance of doubt any payments pursuant to Section 6(e) of the Agreement shall not be subject to netting.
Appears in 1 contract
Sources: Swap Transaction Confirmation (Morgan Stanley Mortgage Loan Trust 2006-16ax)
Early Payment shall be applicable. For each Calculation Period, the Floating Rate Payer Payment Date shall be the first Business Day prior to the related Floating Rate Payer Period End Date. Floating Rate Payer Period End Dates:... The 25th calendar day of each month during the Term of this Transaction, commencing May October 25, 2006 and ending on the Termination Date, subject to adjustment in accordance with the Business Day Convention. Floating Rate Option:................... USD-LIBOR-BBA Floating Amount:........................ To be determined in accordance with the following formula: 10 * Floating Rate * Notional Amount *Floating Rate Day Count Fraction. Designated Maturity:.................... One month Floating Rate Day Count Fraction:....... Actual/360 Reset Dates:............................ The first day of each Calculation Period. Compounding:............................ Inapplicable Business Days:.......................... New York Business Day Convention:................ Following Amendment to Section 2(c) of the Agreement: Notwithstanding anything to the contrary in Section 2(c) of the Agreement, amounts that are payable with respect to Calculation Periods which end in the same calendar month (prior to any adjustment of period end dates) shall be netted, as provided in Section 2(c) of the Agreement, even if such amounts are not due on the same payment date. For avoidance of doubt any payments pursuant to Section 6(e) of the Agreement shall not be subject to netting.
Appears in 1 contract
Sources: Swap Transaction Confirmation (Morgan Stanley Mortgage Loan Trust 2006-13arx)