Swap Contract Sample Clauses
A Swap Contract clause defines the terms under which two parties agree to exchange specific financial instruments, cash flows, or liabilities over a set period. Typically, this involves exchanging fixed interest rate payments for floating rate payments, or swapping different currencies or commodities, according to a predetermined schedule. The core function of this clause is to formalize the arrangement, allocate risk between the parties, and provide a clear framework for managing financial exposure or hedging against market fluctuations.
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Swap Contract. (a) On or before the Closing Date, the Certificate Administrator, not in its individual capacity but solely in its capacity as Certificate Administrator, on behalf of the Trust (for the benefit of the Holder of the Class A-FL Certificates), shall enter into the Swap Contract and related agreements with the Swap Counterparty.
(b) On the Business Day prior to each P&I Advance Date, based on the reports provided by the Master Servicer pursuant to Section 4.02(f), information that the Certificate Administrator obtains from the Swap Counterparty and the Swap Contract, and subject to the priorities set forth in Section 4.01(b), the Certificate Administrator shall calculate the Class A-FL Net Swap Payment and notify the Swap Counterparty in accordance with the terms of the Swap Contract.
(c) No later than 4:00 p.m. New York City time on each Distribution Date, the Certificate Administrator shall remit the Class A-FL Net Swap Payment, if any, and the Class A-FL Percentage Interest of any Recovered Interest Amounts, Yield Maintenance Charges and Prepayment Premiums in respect of the Class A-FX Regular Interest, if any, to the Swap Counterparty from the Class A-FL Sub-Account in respect of the Class A-FL Certificates; provided that upon the occurrence and during the continuation of a Class A-FL Distribution Conversion Event, the Certificate Administrator shall not make such payments to such Swap Counterparty. Promptly upon receipt of any payment or other receipt from the Swap Counterparty in respect of the Swap Contract, the Certificate Administrator shall deposit the same into the Class A-FL Sub-Account. For the avoidance of doubt, payments by the Swap Counterparty to the Certificate Administrator and payments by the Certificate Administrator to the Swap Counterparty (including payments referenced in the first paragraph of Section 4.01(b)(iii)(A) and Section 4.01(b)(iii)(B)) pursuant to the Swap Contract with respect to any related Distribution Date (other than any Swap Termination Payments) shall be on a net basis in accordance with the terms of the Swap Contract.
(d) The Trustee shall at all times enforce the Trust’s rights under the Swap Contract. In the event of a Class A-FL Swap Default, the Certificate Administrator shall promptly provide written notice to the Holders of the Class A-FL Certificates and shall be required, subject to the Certificate Administrator’s determination that costs of enforcement will be recoverable from or indemnified by the Holders of...
Swap Contract. Any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement.
Swap Contract. The County shall at all times require that any termination fees or settlement amounts payable in connection with any Swap Contract entered into by the County be subordinate to the lien on Pledged Revenues securing the Notes and the Obligations hereunder.
Swap Contract. Section 3.33
Swap Contract. CHL shall cause The Bank of New York to enter into the Swap Contract Administration Agreement and shall assign all of its right, title and interest in and to the interest rate swap transaction evidenced by the Swap Contract to, and shall cause all of its obligations in respect of such transaction to be assumed by, the Swap Contract Administrator, on the terms and conditions set forth in the Swap Contract Assignment Agreement. The Trustee's rights to receive certain proceeds of the Swap Contract as provided in the Swap Contract Administration Agreement shall be rights of the Trustee as Swap Trustee hereunder, shall be an asset of the Swap Trust and shall not be an asset of the Trust Fund nor of any REMIC. The Swap Trustee shall deposit any amounts received from time to time from the Swap Contract Administrator with respect to the Swap Contract into the Swap Account. The Master Servicer shall deposit any amounts received on behalf of the Swap Trustee from time to time with respect to the Swap Contract into the Swap Account.
Swap Contract. The occurrence of a default by Borrower or a termination event with respect to Borrower under any swap, derivative, foreign exchange or hedge transaction or arrangement (or similar transaction or arrangement howsoever described or defined) at any time entered into between Borrower and Bondowner Representative in connection with the Loan; or
Swap Contract. A Swap Contract is: (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., or any International Foreign Exchange Master Agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement.
Swap Contract. Any termination payments in an amount greater than $5,000,000 shall be due by any Loan Party under any Swap Contract and such amount is not paid within thirty (30) Business Days of the due date thereof.
Swap Contract. Except as set forth on Schedule 6.20, no Loan Party is a party or subject to any Swap Contract on the Closing Date. Each report required to be delivered pursuant to Section 7.02(a) sets forth a true and complete list of all Swap Contracts of Borrower and each Subsidiary, the material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes), the net m▇▇▇ to market value thereof, all credit support documents relating thereto (including any margin required or supplied) and the counterparty to each such agreement.
Swap Contract. 4 1.33 SWAP OBLIGATIONS ................................... 4 1.34 TANGIBLE NET WORTH ................................. 4