Charged Agreement Clause Samples
A Charged Agreement clause establishes that the agreement or certain rights under it are subject to a security interest or charge, typically in favor of a lender or creditor. In practice, this means that the party granting the charge uses the agreement or its benefits as collateral to secure an obligation, such as a loan or other financial commitment. This clause ensures that the creditor has a legal claim over the specified assets if the debtor defaults, thereby reducing the creditor's risk and providing a clear mechanism for recourse.
Charged Agreement. (a) Counterparty: Banco Bilbao Vizcaya Argentaria, S.A Ciudad BBVA ▇/ ▇▇▇▇▇▇▇ ▇▇, 28050 Madrid (Spain).
(b) Swap Agreement: The Master Agreement as supplemented by the Swap Transaction Confirmation (the Swap Transaction Confirmation and the Master Agreement, the “Swap Agreement”). The Calculation Agent under the Swap Agreement shall be the Counterparty (the “Swap Calculation Agent”).
Charged Agreement. (a) Counterparty: Banco Bilbao Vizcaya Argentaria, S.A. ▇/ ▇▇▇▇▇ ▇▇▇ Rey, 26, 28002 Madrid, Spain.
(b) Swap Agreement: The Master Agreement as supplemented by the Swap Transaction Confirmation (the Swap Transaction Confirmation and the Master Agreement, the "Swap Agreement"). The Calculation Agent under the Swap Agreement shall be the Counterparty (the "Swap Calculation Agent").
(a) Security Ranking Basis: Counterparty Priority Basis.
(b) Instructing Creditor: For the purposes of these Securities only, the Instructing Creditor shall be the Counterparty.
Charged Agreement. (a) Counterparty: Banco Bilbao Vizcaya Argentaria, S.A Ciudad BBVA ▇/ ▇▇▇▇▇▇▇ ▇▇, 28050 Madrid (Spain). (b) Swap Agreement: The Master Agreement as supplemented by the Swap Transaction Confirmation (the Swap Transaction Confirmation and the Master Agreement, the “Swap Agreement”). The Calculation Agent under the Swap Agreement shall be the Counterparty (the “Swap Calculation Agent”). The form of the Swap Transaction Confirmation is set out in Annex 1 hereto (see Annex 1 - Form of Swap Transaction Confirmation).
(a) Security Ranking Basis: Counterparty Priority Basis.
Charged Agreement. The Charged Agreement with respect to the Notes is the International Swaps and Derivatives Association, Inc. 2002 form of Master Agreement (Multicurrency – Cross Border) and a schedule thereto dated as of the Issue Date between the Issuer and the Swap Counterparty, which the Issuer and the Swap Counterparty have entered into by executing the Constituting Instrument (the “ISDA Master Agreement”) as supplemented by a (a) confirmation entered into on the Issue Date and amended and restated on 14 June 2023, and further amended and restated on the Amendment Date (the “Swap Confirmation”) relating to an interest rate and asset swap transaction between the Issuer and the Swap Counterparty (the “Swap Transaction”); and (b) the ISDA 1995 form of the credit support annex (Bilateral Form-Transfer) (English Law) dated as of the same date and entered into with respect to the Swap Transaction (the “Credit Support Annex”). The description of the Swap Transaction and the Credit Support Annex set out below are a summary of certain features of the Swap Transaction and the Credit Support Annex and are qualified by reference to the detailed provisions of the Swap Transaction and the Credit Support Annex. The Issuer paid to the Swap Counterparty an amount equal to the net proceeds of the issue of the Notes and sums equal to principal and interest payable from time to time in respect of the Collateral Securities on each date under the terms of the Swap Transaction on which such amounts of principal and interest are scheduled to be paid (all as set out in the terms and conditions of the Collateral Securities in force as of the Issue Date) and the Swap Counterparty delivered the Collateral Securities on the Issue Date and pay the interest and principal amounts payable on the Notes on each Interest Payment Date, Instalment Date and the Maturity Date. On the Amendment Date, the Issuer will deliver the Released Charged Assets to the Swap Counterparty and the Swap Counterparty shall pay EUR 630,417 to the Issuer as an Interim Exchange Amount under the Swap Transaction. The Swap Transaction may terminate prior to the Maturity Date of the Notes in, among others, the following circumstances:
(i) if at any time the Notes become subject to mandatory redemption (in whole) under Condition 7(b), Condition 7(c), Condition 7(e) or Condition 9;
(ii) at the option of one party, if there is a failure by the other party to pay any amounts due, or to comply with or perform any obligation, under the...