Swap Collateral and Swap Excluded Payable Amounts Sample Clauses

Swap Collateral and Swap Excluded Payable Amounts. The Cash Administrator (or any successor) (at the direction of the Issuer or the Servicer Consultant on the Issuer's behalf) or, following the service of an Enforcement Notice, the Trustee shall instruct the Custodian to (i) liquidate any securities constituting Swap Collateral in the Swap Collateral Account on a delivery versus payment basis and (ii) convert at the then obtainable market rate any amounts constituting Swap Collateral in the Swap Collateral Account and any amounts received pursuant to (i) above, which are denominated in a currency other than sterling to sterling, promptly following the designation of an Early Termination Date under (and as defined in) the relevant Swap Agreement. Any Swap Collateral Accounts surplus will be returned to the Swap Counterparty prior to liquidation. Notwithstanding anything to the contrary herein or in any other Transaction Document, Swap Excluded Payable Amounts may be paid directly to the relevant Swap Counterparty and shall not be subject to application in accordance with the Priority of Payments. The Cash Administrator (or any successor) (at the direction of the Issuer or the Servicer Consultant on the Issuer's behalf) or, following the service of an Enforcement Notice, the Trustee shall, promptly following any determination by the Cash Administrator of such amounts due to a Swap Counterparty, provide to the Account Bank and/or the Swap Collateral Account Bank and/or the Custodian all instructions necessary to effect a transfer of amounts standing to the credit of the relevant Bank Accounts from the Issuer to such Swap Counterparty for the purpose of satisfying the Issuer's obligation to pay any Swap Excluded Payable Amounts to such Swap Counterparty. X Note Proceeds The proceeds of the X Notes will be used to fund: the Issuer Costs and Expenses; part of the Initial Purchase Consideration; and the Liquidity Reserve Fund.
Sample 1
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Swap Collateral and Swap Excluded Payable Amounts. 4.10.1 The Cash/Bond Administrator (where the Cash/Bond Administrator is KMC) or the Mortgage Administrator (where the Cash/Bond Administrator is no longer KMC) (or any successor) or, following the service of an Enforcement Notice, the Trustee shall instruct the Custodian to (i) liquidate any securities constituting Swap Collateral in the Swap Securities Collateral Account on a delivery versus payment basis and (ii) convert at the then prevailing market rate any amounts constituting Swap Collateral in the Swap Cash Collateral Account or the Swap Cash-Linked Collateral Account and any amounts received pursuant to (i) above, which are denominated in a currency other than sterling to sterling, promptly following the designation of an Early Termination Date under (and as defined in) the relevant Swap Agreement.
Sample 1

Related to Swap Collateral and Swap Excluded Payable Amounts

  • Basic Obligations (1) The Authority shall carry out international search and international preliminary examination in accordance with, and perform such other functions of an International Searching Authority and International Preliminary Examining Authority as are provided under, the Treaty, the Regulations, the Administrative Instructions and this Agreement.

  • Non-Sufficient Funds and Dishonored Payments If my check is returned by a bank or other entity for any reason, if any of my credit card or debit card payments are rejected, or if Xxxxx Management is unable, through no fault of its own or their bank, to successfully process any of my ACH debit, credit card, or debit card transaction, then:

  • Recipient Obligations 2.1 The Recipient agrees to support the Project in accordance with this Agreement.

  • Client Obligations 3.1 The Client shall:

  • Specific Obligations The HSP:

  • Repayment Obligation In the event that any State and/or federal funds are deferred and/or disallowed as a result of any audits or expended in violation of the laws applicable to the expenditure of such funds, the Contractor shall be liable to the Agency for the full amount of any claim disallowed and for all related penalties incurred. The requirements of this paragraph shall apply to the Contractor as well as any subcontractors.

  • Allocation of Subordinate Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Senior Reduction Amount and the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Subordinate Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Permitted Investments At any time, any one or more of the following obligations and securities:

  • Collateral Threshold If the Parties have in place between them an Edison Electric Institute Master Power Purchase and Sale Agreement, and have selected Collateral Threshold Applicable under EEI on the Cover Sheet, then, notwithstanding whether an Event of Default has occurred, the Termination Payment that would be owed to by a Party hereunder will be included in the calculation of each Party’s Termination Payment under (and as defined in) such agreement, and an event of default under such agreement will be an Event of Default hereunder and an Event of Default hereunder will be an event of default under such agreement. If the Parties have in place between them an ISDA Master Agreement with Credit Support Annex, and have selected Collateral Threshold Applicable under ISDA on the Cover Sheet, then, notwithstanding whether an Event of Default has occurred, the Termination Payment that would be owed to by a Party hereunder will be included in the calculation of each Party’s Exposure under (and as defined in) such agreement, and an event of default under such agreement will be an Event of Default hereunder and an Event of Default hereunder will be an event of default under such agreement. If the Parties have elected either of the two foregoing options but at any time do not have in effect between them the referenced other agreements, or such referenced agreements do not provide for the exchange of margin or collateral thresholds, or if the Parties have selected Collateral Threshold Applicable Standalone on the Cover Sheet, if at any time and from time to time, notwithstanding whether an Event of Default has occurred, the Termination Payment that would be owed to by a Party plus that Party’s Independent Amount, if any, exceeds the Collateral Threshold specified, then the Party to whom such amount would be owed, on any Business Day, may request that owing Party to provide Performance Assurance in an amount equal to the amount of such excess, less any Performance Assurance already posted. Such Performance Assurance will be provided within three Business Days of the date of request. On any Business Day, but no more frequently than weekly with respect to letters of credit and daily with respect to cash, if there has been a reduction in the amount of such excess, the posting Party may request that such Performance Assurance be reduced correspondingly by the amount of such excess, if any. Failure to provide such Performance Assurance to the requesting Party within three Business Days of request is an Event of Default. For purposes of this Section, the Termination Payment will be calculated pursuant to Article 5 by the requesting Party as if the posting Party had defaulted and all outstanding Transactions had been liquidated, even if that is not actually the case, and in addition thereto, and include the net amount of all amounts owed but not yet paid between the Parties, whether or not such amounts are due, for performance already provided pursuant to any and all Transactions. A Party holding Performance Assurance in the form of cash posted by the other Party will pay the posting Party interest on such cash, monthly, at the Federal Funds rate of interest.

  • Funding Amount “Funding Amount” means an amount not to exceed Five Hundred Thousand Dollars ($500,000.00) of tax increment finance revenues to be used for paying the costs associated with the construction, equipping, inspection, and delivery of the Local Public Improvements.

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