The Swap Clause Examples

The Swap clause defines the fundamental agreement between two parties to exchange specified financial instruments, cash flows, or obligations according to predetermined terms. Typically, this involves exchanging fixed interest payments for floating rates, or swapping different currencies or commodities at set intervals. By clearly outlining the mechanics and obligations of each party, the clause ensures both sides understand their rights and responsibilities, thereby reducing uncertainty and facilitating effective risk management in complex financial transactions.
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The Swap. Tenant shall have the option (the “Swap Option”) to decrease the leased premises under the 222 Berkeley Lease and increase the Leased Premises under the 500 Boylston Lease, subject to and solely in accordance with the terms expressly set forth in this Article 10. If Tenant wishes to exercise the Swap Option, Tenant shall deliver notice of its exercise of the Swap Option in a notice delivered to the 2▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ and the 5▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇ or before August 1, 2005 (the “Swap Exercise Notice”). Time is of the essence in the timely exercise of the Swap Option. If Tenant fails to timely exercise the Swap Option by such date strictly in accordance with this Section 10.01, then Tenant shall be deemed to have irrevocably waived the Swap Option and this Article 10 shall have no further force or effect. Tenant’s exercise of the Swap Option shall be irrevocable and unconditional. If Tenant provides an exercise notice that purports to condition the exercise of the Swap Option, to change the terms of the Swap Option as set forth below, or to exercise the Swap Option only in part (except as expressly provided below), such exercise notice shall be invalid and without force or effect.
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The Swap. The Lenders have agreed to enter this Agreement and to give their commitments to make the Loans for the fixed interest rate provided herein on the condition and subject to the concurrent execution of the Swap pursuant to which the Swap Provider will make floating rate payments to the Paying Agent as provided in the Swap in exchange for fixed rate payments equal to the amounts of the fixed interest payments payable by Southland hereunder. Prior to the Existing Yen Facility Repayment Date the Swap Provider will make floating rate payments to the Paying Agent for the benefit of the Lenders in exchange for the accrual of the fixed rate payments due the Swap Provider (and interest thereon) at a fixed rate equal to the interest rate for the Loans hereunder, which shall be payable from the Japanese Royalties deposited in the New Lock Box Account after the Existing Yen Facility Repayment Date as provided herein and in the Swap. The Paying Agent has entered the Swap on the date hereof on behalf of and for the benefit of the Lenders. As provided in the Swap, on each Repayment Date after the Expected Existing Yen Facility Repayment Date, the fixed rate payment specified on Schedule II for such date as interest due hereunder shall be paid to the Swap Provider by the Paying Agent and the Swap Provider shall pay to the Paying Agent, for distribution to the Lenders, a floating rate payment equal to the sum of the then applicable Yen LIBOR plus the Margin. The Swap provides that payments shall be made on a net basis, and the Lenders hereby instruct the Paying Agent to apply the payments received in and to make the payments from the Japanese Royalties paid into the New Lock Box Account in accordance with the provisions hereof and the Swap to fulfill the obligations of the Paying Agent and the Swap Provider under the Swap for payment on a net basis, as applicable.
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The Swap. Within ten (10) business days after the execution of this Agreement, the Parties shall deliver their respective shares, with appropriate signature guarantee to Commerce Street Venture Group, Inc., who shall submit the share certificates to the respective transfer agent for the companies, with instructions to transfer the shares into the name of the other party. When the shares of both parties are returned, after appropriate transfer, Commerce Street Venture Group, Inc. shall then deliver the respective new shares to the parties.
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Related to The Swap

  • Securities Contract; Swap Agreement The parties hereto intend for (i) the Transaction to be a “securities contract” and a “swap agreement” as defined in the Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”), and the parties hereto to be entitled to the protections afforded by, among other Sections, Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of the Bankruptcy Code, (ii) a party’s right to liquidate the Transaction and to exercise any other remedies upon the occurrence of any Event of Default under the Agreement with respect to the other party to constitute a “contractual right” as described in the Bankruptcy Code, and (iii) each payment and delivery of cash, securities or other property hereunder to constitute a “margin payment” or “settlement payment” and a “transfer” as defined in the Bankruptcy Code.

  • Securities Intermediary The Securities Intermediary, in acting under this Indenture, is entitled to all rights, benefits, protections, immunities and indemnities accorded The Bank of New York Mellon Trust Company, N.A., a national banking association, in its capacity as Indenture Trustee under this Indenture.

  • Dealer Agreement The sales and/or servicing agreements between CAC or its subsidiaries and a participating Dealer which sets forth the terms and conditions under which CAC or its subsidiaries (i) accepts, as nominee for such Dealer, the assignment of Contracts for purposes of administration, servicing and collection and under which CAC or its subsidiary may make advances to such Dealers and (ii) accepts outright assignments of Contracts from Dealers or funds Contracts originated by such Dealer in the name of CAC or any of its subsidiaries, in each case as such agreements may be in effect from time to time.

  • CUSTODIAN CONTRACT This Contract by and between State Street Bank and Trust Company, a Massachusetts trust company, having its principal place of business at 2▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ (hereinafter called the "Custodian"), and each fund which is listed on Appendix A (as such Appendix may be amended from time to time) and which evidences its agreement to be bound hereby by executing a copy of this Contract (each such fund individually hereinafter called the "Fund," whose definition may be found in Section 22),

  • Banking Services and Swap Agreements Each Lender or Affiliate thereof providing Banking Services for, or having Swap Agreements with, any Loan Party or any Subsidiary or Affiliate of a Loan Party shall deliver to the Administrative Agent, promptly after entering into such Banking Services or Swap Agreements, written notice setting forth the aggregate amount of all Banking Services Obligations and Swap Agreement Obligations of such Loan Party or Subsidiary or Affiliate thereof to such Lender or Affiliate (whether matured or unmatured, absolute or contingent). In furtherance of that requirement, each such Lender or Affiliate thereof shall furnish the Administrative Agent, from time to time after a significant change therein or upon a request therefor, a summary of the amounts due or to become due in respect of such Banking Services Obligations and Swap Agreement Obligations. The most recent information provided to the Administrative Agent shall be used in determining which tier of the waterfall, contained in Section 2.18(b), such Banking Services Obligations and/or Swap Agreement Obligations will be placed.