Swaptions. A swaption is the right, but not the obligation, to enter into a swap under specified conditions at a certain point in time or within a certain period. In addition, the principles outlined in connection with option transactions apply.
Swaptions. Definition 2.14 (Swaptions). A swap option, briefly swaption, is an option on an IRS. The time Tα is called the swaption maturity. The underlying IRS length Tβ − Tα is called the tenor of the swaption.
Swaptions. A swaption is a contract whereby the owner of the option has the right, but not the obligation, to cause a specified underlying swap transaction to become effective as between the buyer and the seller of the swaption, or to cause a payment to be made by reference to the value of that underlying swap transaction. The risks associated with options (including those described above) apply equally to swaptions. If the Customer enters into a physically settled swaption with the Bank and the
Swaptions. The Issuer shall, unless otherwise approved by each Rating Agency, purchase Swaptions commencing one year after the Initial Closing Date.
Swaptions. If the confirmation provides that "Cash Settlement" will apply upon exercise of the relevant swaption, then such swaption shall be settled in cash. The Calculation Agent will calculate the Cash Settlement amount pursuant to the principles laid down in the confirmation and notify the counterparty. The seller will pay such amount to the purchaser on the Settlement Date speci- fied in the confirmation. If the Confirmation provides that "Physical Settlement" will apply upon exer- cise of the relevant swaption, then the swap underlying the swaption shall come into effect. Annex C to the Swiss Master Agreement for OTC-derivatives instruments Special provisions for Foreign Exchange Transactions and Pre- cious Metal Transactions
Swaptions. MP has executed trades with respect to the Swaptions as of June 2, 2003, as more fully described in the definition of "Swaptions", and such trades have not been Modified or terminated in any respect. MP is not a party to any agreement with Swap Provider other than the Swaptions. There are no defaults under the ISDA Master Agreement referred to in the definition of "Swaptions" contained in Annex I attached hereto that would give rise to any netting or off-set rights (or any other rights or remedies) on the part of the Swap Provider or any other Person with respect to the Swaptions.
Swaptions. MP shall not cause or permit any Disposition of the Swaptions nor any Modifications or termination thereof. MP shall not default on any of its obligations with respect to the Swaptions. Borrowers shall not, and shall not permit any Borrower Party to, enter into any other transaction with the Swap Provider of any other Person which would give rise to any netting or off-set rights (or any other rights or remedies) on the part of the Swap Provider or such other Person with respect to the Swaptions.
