Examples of Net Swap Receipt in a sentence
Pursuant to the terms of the Interest Rate Swap, the Swap Counterparty shall pay to the Trustee, on behalf of the Issuer, on each Payment Date, the Net Swap Receipt, if any, plus the amount of any Net Swap Receipt due but not paid with respect to any previous Payment Date.
The "Net Swap Receipt," for any transfer date, means, (a) if the netting provisions of the interest rate swap apply, the amount by which the fixed amount payable by the swap counterparty to the trust for such date exceeds the Floating Amount for such date, and (b) otherwise, an amount equal to the fixed amount payable by the swap counterparty to the trust for such date.
With respect to each distribution date, the Net Swap Receipt, if any, for the related transfer date will be deposited into the finance charge account by the trustee and treated as part of Class A Available Funds.
Pursuant to the terms of the Interest Rate Swap, the Swap Counterparty shall pay to the Trustee on each Transfer Date the Net Swap Receipt, if any, plus the amount of any Net Swap Receipt due but not paid with respect to any previous Transfer Date.
Swap Cash Flows (a) The amount of the Net Swap Receipt for the related Transfer Date$955,708.33(b) The amount of the Net Swap Payment forthe related Transfer Date $ 0.00 14.