Common use of Rights of Swap Provider Clause in Contracts

Rights of Swap Provider. The Swap Provider shall be deemed a third-party beneficiary of this Indenture to the same extent as if it were a party hereto and shall have the right, upon designation of an “Early Termination Date” (as defined in the Swap Agreement), to enforce its rights under this Indenture, which rights include but are not limited to the obligation of the Indenture Trustee (A) to deposit any Net Swap Payment required pursuant to Section 8.01(a)(v) and any Swap Termination Payment required pursuant to Section 8.01(a)(v) into the Payment Account and (B) to pay any Net Swap Payment required pursuant to Section 8.01(b)(i) or Swap Termination Payment required pursuant to Section 8.01(b)(i)

Appears in 8 contracts

Sources: Indenture (NovaStar Certificates Financing LLC), Indenture (Accredited Mortgage Loan Trust 2005-1), Indenture (Accredited Mortgage Loan Trust 2004-4)

Rights of Swap Provider. The Swap Provider shall be deemed a third-party beneficiary of this Indenture to the same extent as if it were a party hereto and shall have the right, upon designation of an “Early Termination Date” (as defined in the Swap Agreement), to enforce its rights under this Indenture, which rights include but are not limited to the obligation of the Indenture Trustee (A) to deposit any Net Swap Payment required pursuant to Section 8.01(a)(v) and any Swap Termination Payment required pursuant to Section 8.01(a)(v) or 5.07(ii) into the Payment Account and (B) to pay any Net Swap Payment required pursuant to Section 8.01(b)(i) or Swap Termination Payment required pursuant to Section 8.01(b)(i) or 5.07(ii)

Appears in 1 contract

Sources: Indenture (Accredited Mortgage Loan REIT Trust)

Rights of Swap Provider. The Swap Provider shall be deemed a third-party beneficiary of this Indenture to the same extent as if it were a party hereto and shall have the right, upon designation of an “Early Termination Date” (as defined in the Swap Agreement), to enforce its rights under this Indenture, which rights include but are not limited to the obligation of the Indenture Trustee (A) to deposit any Net Swap Payment required pursuant to Section 8.01(a)(v) and any Swap Termination Payment required pursuant to Section 8.01(a)(v) or 5.07(ii) into the Payment Account and (B) to pay any Net Swap Payment required pursuant to Section 8.01(b)(i) or Swap Termination Payment required pursuant to Section 8.01(b)(i)to

Appears in 1 contract

Sources: Indenture (Accredited Mortgage Loan Trust 2006-2)