Other Swaps Sample Clauses
The "Other Swaps" clause defines how transactions or agreements outside the primary contract, but related to swaps, are treated under the contract. It typically clarifies whether such additional swap agreements are covered by the same terms and conditions, or if they are considered separate and distinct. For example, it may specify if a new swap entered into between the parties after the main agreement is automatically governed by the existing contract or requires a separate agreement. This clause ensures clarity regarding the scope of the contract, preventing disputes about which transactions are subject to its terms.
Other Swaps. The Trust agrees that it has not and will not enter into any other swap transactions after the date hereof which provide for payments upon termination that are senior to or pari passu with any payment due under any Confirmation.
Other Swaps. Each Borrower may enter into other master agreements and/or derivative instruments with any third party swap provider for the purposes of hedging its exposure under this Agreement to interest rate fluctuations provided that:
a. the Swap Banks shall have a right of first refusal in respect of providing such swap/derivative lines to the Borrowers; and
b. in the event a Swap Bank is not the chosen provider of such swap/derivative lines to the Borrowers, such third party swap provider does not share in any Security Interest created under any Finance Document and is fully subordinated to the rights of the Creditor Parties under the Finance Documents.
Other Swaps. The Borrower may enter into other master agreements and/or derivative instruments with any third party provided that such third party does not share in any Security Interest created under any Finance Document.