Obligations with Respect to the Swap Counterparty Clause Samples
The "Obligations with Respect to the Swap Counterparty" clause defines the duties and responsibilities that a party must fulfill in relation to the counterparty involved in a swap agreement. This may include requirements such as providing timely information, maintaining certain credit standards, or ensuring compliance with regulatory obligations throughout the life of the swap. By clearly outlining these obligations, the clause helps prevent misunderstandings and ensures that both parties are aware of their respective roles, thereby reducing the risk of disputes and promoting smooth execution of the swap transaction.
Obligations with Respect to the Swap Counterparty. [Any obligations or duties owed to, or rights of, the Swap Counterparty hereunder, including the right of the Swap Counterparty to consent to, or receive notice of, any actions hereunder shall terminate upon payment in full of the Class A-2b Notes and indefeasible payment of all amounts owed to the Swap Counterparty under the Swap Agreement.]