Swap Transaction. This Mortgage secures the Mortgagor’s obligations in any Swap Transaction between Mortgagee and Mortgagor pursuant to applicable Swap Documents entered into in connection with the Note or any future notes secured hereby, including without limitation Mortgagor’s obligation to pay any applicable Swap Breakage Fee. Mortgagor hereby acknowledges and agrees that: (1) the Mortgagor’s obligations under the Swap Documents are and shall be expressly included within the obligations hereunder; (2) the Swap Documents shall be cross-collateralized and cross-defaulted, pari passu, with this Mortgage and the other Loan Documents; (3) Mortgagor shall pay any Swap Breakage Fee in the event the swap must be terminated prior to maturity thereof for any reason, including without limitation acceleration of any Term Loan pursuant to the terms of the Loan Documents; and (4) the Swap Breakage Fee will be calculated based on relevant market conditions and swap value as Mortgagee may determine in its discretion at the time of such termination and, as such, the amount of the Swap Breakage Fee may be substantial.
Swap Transaction. The LLC shall pay on or before the applicable ---------------- Payment Date (as defined in the Swap Agreement) any and all payments required to be made by St. Xxxxxxx Place II, LLC under the Swap Agreement dated September 21, 2001, ISDA Master Agreement, dated as of September 21, 2001 (the "Master Agreement"), between First Union National Bank and St. Xxxxxxx Place II, LLC and the Swap Transaction Confirmation, dated October 1, 2001 (together with the Master Agreement, the "Swap Agreement"), (attached hereto as Exhibit B) for the interest rate swap transaction (Ref. No. 81083/161578) which have a Payment Date (as defined in the Swap Agreement) occurring on or before the later of (i) Final Completion (as that term is defined under Schedule 6.12 hereof) of Trinity ------------- Commons II or (ii) November 1, 2002. At the direction of Cornerstone, the LLC will make all payments required pursuant to this
Swap Transaction. Concurrently with or promptly following their execution and delivery of this Amendment, Borrower and the Bank shall enter into such documents, instruments and agreements as shall be necessary or appropriate to reflect the Swap Transaction presently contemplated by the parties. Such transaction shall, for all purposes relevant to the Amended Loan Agreement, constitute a "Swap Transaction", and shall be subject to and governed by all of the terms and conditions set forth in the Amended Loan Agreement applicable to Swap Transactions, including but not limited to the terms and conditions set forth in Section 7 thereof.
Swap Transaction. (a) Borrower may, but shall not be required to, enter into an Swap Transaction with a Lender acceptable to the Required Lenders (such financial institution is referred to herein as “Swap Bank”). The Lenders agree that the Swap Bank may be Bank of America, N. A. or an Affiliate of Bank of America, N.A. Borrower agrees that if Borrower executes an Swap Transaction, the provisions of this Section 1.19 shall govern and apply to such Swap Transaction. Borrower acknowledges and agrees that the failure of Borrower to comply with its obligations under the Swap Transaction and to make payments when due thereunder, will be a default under this Loan and Lenders may advance funds, on Borrower’s behalf to cure Borrower’s default under the Swap Transaction. All amounts advanced by Lenders to Swap Bank, Borrower or others in respect of Borrower’s obligations under the Swap Transaction shall be added to the Loan and shall be deemed a part of the Obligations secured by the Deed of Trust and the other Loan Documents. All amounts payable to Borrower pursuant to the Swap Transaction shall be paid to Administrative Agent for the ratable benefit of Lenders and applied by Lenders to the payment of interest on the Loan or other costs of the Project. Borrower acknowledges and agrees that, notwithstanding the terms of the Swap Transaction, Borrower shall not modify or terminate the Swap Transaction without the prior written consent of Administrative Agent.
Swap Transaction. The terms of the particular Swap Transaction to which this Confirmation relates are as follows: Trade Date: July 24, 2001 Effective Date: July 31, 2001 Termination Date: November 30, 2004, subject to adjustment in accordance with the Modified Following Business Day Convention Notional Amount: USD 7,500,000 amortizing in accordance with the Outstanding Notional Balance Schedule attached hereto Business Days: New York and London Calculation Agent: Party A FIXED AMOUNTS: Fixed Rate Payer: Party B Fixed Rate: 4.70 percent Fixed Rate Day Count Fraction: Actual/360
Swap Transaction. (a) Any Borrower may, but shall not be required to, enter into a Swap Transaction with a Lender acceptable to the Required Lenders (such financial institution is referred to herein as “Swap Bank”). The Lenders agree that the Swap Bank may be Administrative Agent or an Affiliate of Administrative Agent. Borrowers agree that if any Borrower executes a Swap Transaction, the provisions of this Section 1.19 shall govern and apply to such Swap Transaction. Borrowers acknowledge and agree that the failure of any Borrower to comply with its obligations under the Swap Transaction and to make payments when due thereunder, will be a default under this Loan.