Fixed Swap Payment definition

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.

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Fixed Swap Payment. With respect to any Distribution Date, a fixed amount equal to the product of (i) a per annum rate for that Distribution Date as set forth on Schedule V to this Agreement, (ii) the related Swap Notional Amount (as set forth on Schedule V attached hereto), (iii) 250 and (iv) a fraction, the numerator of which is 30 (or, for the first Distribution Date, 9) and the denominator of which is 360.

Fixed Swap Payment. With respect to any Distribution Date, a fixed amount equal to the fixed swap payment for such Distribution Date as set forth on Schedule 3 attached hereto.

Examples of Fixed Swap Payment in a sentence

As to any Distribution Date in the case of payments to be made by (a) the External Trust to the Swap Counterparty, the excess, if any, of, (i) the Fixed Swap Payment over (ii) the Floating Swap Payment and (b) the Swap Counterparty to the External Trust, the excess, if any, of (i) the Floating Swap Payment over (ii) the Fixed Swap Payment.
Based on the date of termination, the Trustee, prior to any final distributions to the Holders of the Class A-2FL Certificates and/or the Holders of the Class A-4FL Certificates as contemplated by Section 9.01, shall pay the Class A-2FL Net Fixed Swap Payment, if any to the Class A-2FL Swap Counterparty and/or the Class A-4FL Net Fixed Swap Payment, if any, to the Class A-4FL Swap Counterparty.
In the case of payments made by the Supplemental Interest Trust, the excess, if any, of (x) the Fixed Swap Payment over (y) the Floating Swap Payment.
Based on the date of termination, the Trustee, prior to any final distributions to the Holders of the Class A-2FL Certificates and/or the Holders of the Class AJ-FL Certificates as contemplated by Section 9.01, shall pay the Class A-2FL Net Fixed Swap Payment, if any, to the Class A-2FL Swap Counterparty and/or the Class AJ-FL Net Fixed Swap Payment, if any, to the Class AJ-FL Swap Counterparty.
In the case of payments made by the Swap Provider, the excess, if any, of (x) the Floating Swap Payment over (y) the Fixed Swap Payment.

More Definitions of Fixed Swap Payment

Fixed Swap Payment. With respect to each Distribution Date commencing with the Distribution Date in March 2007 and ending with the Distribution Date in February 2011, an amount equal to the product of (x) a fixed rate equal to approximately 5.20% per annum, (y) the Swap Agreement Notional Balance for that Distribution Date and (z) a fraction, the numerator of which is (a) 32 for the Distribution Date in March 2007 and (b) 30 for any Distribution Date occurring after the Distribution Date in March 2007, and the denominator of which is 360.

Fixed Swap Payment. With respect to any Distribution Date on or prior to the distribution date in February 2012, an amount equal to the product of (x) a fixed rate equal to 5.235% per annum, (y) the Swap Agreement Notional Balance for that Distribution Date and (z) a fraction, the numerator of which is (a) 33 for the Distribution Date in March 2007 and (b) 30 for any Distribution Date occurring after the Distribution Date in March 2007, and the denominator of which is 360. As described in the swap agreement, the fixed rate payer period end dates are not adjusted in accordance with the business day convention.

Fixed Swap Payment. With respect to any Payment Date, a fixed amount equal to the product of (i) the Strike Rate, (ii) the Notional Amount (as defined in the Interest Rate Swap Agreement) for that Payment Date, and (iii) a fraction, the numerator of which is 30 (or, for the first Payment Date, the number of days elapsed from and including the effective date (as defined in the Interest Rate Swap Agreement) to but excluding the first Payment Date, determined on a 30/360 basis) and the denominator of which is 360.

Fixed Swap Payment. With respect to the Business Day prior to any Distribution Date on or prior to the Distribution Date in September 2010, an amount equal to the product of (x) a fixed rate equal to 5.10% per annum, (y) the Swap Agreement Notional Balance for that Distribution Date and (z)(i) with respect to the Business Day prior to the initial Distribution Date, a fraction, the numerator of which is the number of days from and including the Closing Date to and including the day preceding the initial Distribution Date (on a 30/360 day count basis) and the denominator of which is 360 and (ii) with respect to the Business Day prior to each Distribution Date thereafter, a fraction, the numerator of which is 30 and the denominator of which is 360.

Fixed Swap Payment. With respect to any Distribution Date on or prior to the Distribution Date in [________] 20[_], an amount equal to the product of (x) a fixed rate equal to [__]%, (y) the Swap Agreement Notional Balance for that Distribution Date and (z) a fraction, the numerator of which is (a) 19 for the Distribution Date in [________] 20[_] and (b) 30 for any Distribution Date occurring after the Distribution Date in [________] 20[_], and the denominator of which is 360.

Fixed Swap Payment. With respect to any Distribution Date, the Fixed Amount required to be paid to the Swap Counterparty by the Trust Fund under the Swap Contract.

Fixed Swap Payment. With respect to any Distribution Date on or prior to the Distribution Date in September 2012, an amount equal to the product of (x) a fixed rate equal to 5.250% per annum, (y) the Swap Agreement Notional Balance for that Distribution Date and (z) a fraction, the numerator of which is equal to the number of days in the related calculation period as provided in the Swap Agreement, the number of days to be calculated on the basis of a year of 360 days with twelve 30-day months, and the denominator of which is 360.

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