The Swap Agreements Sample Clauses

The Swap Agreements. (a) The Trustee is hereby authorized and directed, not in its individual capacity but solely as Trustee and on behalf, and for the benefit, of the Trust, to execute and deliver each Swap Agreement on the Closing Date and to perform obligations as described herein with respect to each Swap Agreement. Furthermore, the Trustee is hereby authorized and directed to, and shall, perform all obligations on the part of the Trustee and/or the Trust under each Swap Agreement; provided that (i) payments to be made to the Class A-2FL Swap Counterparty pursuant to Section 3.29(d) shall be made out of amounts allocable as interest (or, in the case of Class A-2FL Additional Fixed Swap Payments, Yield Maintenance Charges and Prepayment Premiums) distributable on or with respect to the Class A-2FL REMIC II Regular Interest, (ii) payments to be made to the Class A-4FL Swap Counterparty pursuant to Section 3.29(d) shall be made out of amounts allocable as interest (or, in the case of Class A-4FL Additional Fixed Swap Payments, Yield Maintenance Charges and Prepayment Premiums) distributable on or with respect to the Class A-4FL REMIC II Regular Interest and (iii) any termination payment owing to a Swap Counterparty shall be payable solely out of any upfront payment made by a replacement swap counterparty with respect thereto in connection with entering into a replacement interest rate swap agreement with the Trust, and the Trustee shall not be responsible for using its own funds in making such payments. Upon the Trustee entering into the Swap Agreements on behalf of the Trust, the Trust shall be bound by the terms and conditions of the Swap Agreements.
Sample 1Sample 2See All (6)
AutoNDA by SimpleDocs
The Swap Agreements. (a) On the Closing Date, there are hereby established four (4) separate Floating Rate Grantor Trusts pursuant to and as designated in, Section 2.01(a). The Depositor shall deposit, or cause the deposit of, the Class A-2FL Swap Agreement into Grantor Trust A-2FL, the Class A-4FL Swap Agreement into Grantor Trust A-4FL, the Class A-MFL Swap Agreement into Grantor Trust A-MFL, and the Class A-JFL Swap Agreement into Grantor Trust A-JFL. Each Floating Rate Grantor Trust shall be maintained by the Grantor Trust Trustee, who shall at all times, be the entity acting as Trustee. Grantor Trust A-2FL shall be held for the benefit of the Holders of the Class A-2FL Certificates, Grantor Trust A-4FL shall be held for the benefit of the Holders of the Class A-4FL Certificates, Grantor Trust A-MFL shall be held for the benefit of the Holders of the Class A-MFL Certificates, and Grantor Trust A-JFL shall be held for the benefit of the Holders of the Class A-JFL Certificates. No later than the Closing Date, the Trustee (as Grantor Trust Trustee) shall establish and maintain each of the Class A-2FL Floating Rate Account, the Class A-4FL Floating Rate Account, the Class A-MFL Floating Rate Account and the the Class A-JFL Floating Rate Account pursuant to and in accordance with the terms of Section 3.04(f). Funds in each of the Class A-2FL Floating Rate Account, the Class A-4FL Floating Rate Account, the Class A-MFL Floating Rate Account and the Class A-JFL Floating Rate Account shall be held saparate and apart from, and shall not be commingled with any other funds, including without limitation, funds held by the Trustee pursuant to this Agreement. The Trustee is hereby authorized and directed, not in its individual capacity but solely as Grantor Trust Trustee and on behalf, and for the benefit, of each Floating Rate Grantor Trust, to execute and deliver the related Swap Agreement on the Closing Date and to perform obligations as described herein with respect to the related Swap Agreement. Furthermore, the Trustee (as Grantor Trust Trustee) is hereby authorized and directed to, and shall, perform all obligations on the part of the Trust under the Swap Agreements; provided that (i) payments to be made to a Swap Counterparty pursuant to Section 3.29(d) shall be made out of amounts allocable as interest (or, in the case of any related Additional Floating Rate I Swap Payment, related Yield Maintenance Charges and Prepayment Premiums) distributable on or with respect to the Group ...
Sample 1Sample 2See All (5)
The Swap Agreements. (a) The Securities Administrator shall establish and maintain the Swap Account as a segregated trust account or accounts. The Swap Account shall be an Eligible Account. The Securities Administration shall deposit in the Swap Account any Net Swap Payments and other amounts payable to the Trust and the Swap Provider under the Swap Agreements. On each Payment Date for which the Securities Administrator has received a payment under the Swap Agreements, the Securities Administrator shall pay such amounts in accordance with the priorities set forth in clauses (b) and (c) of this Section.
Sample 1
The Swap Agreements. On or before the Closing Date, the Securities Administrator shall establish a Reserve Fund on behalf of the Holders of the Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Xxxxx Fargo Bank, N.A., as Securities Administrator for the benefit of holders of Luminent Mortgage Trust 2005-1, Mortgage-Backed Notes, Series 2005-1”. The Securities Administrator shall deposit in the Reserve Fund all payments received from the Swap Provider that are payable to the Trust. On each Distribution Date the Securities Administrator shall remit such amounts received to the Holders of the Notes in the manner provided in clause (a) below. Net Swap Payments and Swap Termination Payments (other than Swap Termination Payments resulting from a Swap Provider Trigger Event) payable by the Trust to the Swap Provider pursuant to the Swap Agreement shall be deducted (to the extent not paid from any upfront payment received pursuant to any replacement interest rate swap agreement entered into by the Trust) from Interest Funds, and to the extent of any such remaining amounts due, from Principal Funds, prior to any distributions to the Noteholders. On or before each Payment Date, such amounts will be remitted to the Securities Administrator on behalf of the Trust, first to make any Net Swap Payment owed to the Swap Provider pursuant to the Swap Agreements for such Payment Date and for prior Payment Dates, if any, and second to make any Swap Termination Payment (not due to a Swap Provider Trigger Event) owed to the Swap Provider pursuant to the Swap Agreement for such Payment Date and for prior Payment Dates, if any. In addition, the Securities Administrator shall remit for payment to the Swap Provider any Swap Termination Payment payable under Section 8.06. Any Swap Termination Payment triggered by a Swap Provider Trigger Event owed to the Swap Provider pursuant to the Swap Agreements will be subordinated to distributions to the Holders of the Notes and shall be paid as set forth under Section 3.03.
Sample 1
The Swap Agreements. (a) On the Closing Date, the Supplemental Interest Trust Trustee, on behalf of the Supplemental Interest Trust, shall (i) establish and maintain in its name, in trust for the benefit of Class A, Class M and Class SB Certificates, the Supplemental Interest Trust Account and (ii) for the benefit of the Class A, Class M and Class SB Certificates, enter into the Swap Agreements.
Sample 1

Related to The Swap Agreements

  • Swap Agreements The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Swap Agreement, except (a) Swap Agreements entered into to hedge or mitigate risks to which the Borrower or any Subsidiary has actual exposure (other than those in respect of Equity Interests of the Borrower or any of its Subsidiaries), and (b) Swap Agreements entered into in order to effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or investment of the Borrower or any Subsidiary.

  • Swap Agreement The Depositor hereby directs the Securities Administrator to execute and deliver on behalf of the Trust the Swap Agreement and authorizes the Securities Administrator to perform its obligations thereunder on behalf of the Supplemental Interest Trust in accordance with the terms of the Swap Agreement. The Depositor hereby authorizes and directs the Securities Administrator to ratify on behalf of the Supplemental Interest Trust, as the Supplemental Interest Trust’s own actions, the terms agreed to by the Depositor in relation to the Swap Agreement, as reflected in the Swap Agreement, and the Securities Administrator hereby so ratifies the Swap Agreement. If based upon a notice from the valuation agent pursuant to section 4(c) of the credit support annex, the Securities Administrator determines that a delivery amount exists, then the Securities Administrator shall demand such amount pursuant to section 3(a) of the credit support annex. The Securities Administrator shall amend the Swap Agreement in accordance with its terms and as requested in writing by a party to the Swap Agreement to cure any ambiguity in or correct or supplement any provision of, the Swap Agreement; provided, however, that any such amendment will not have a material adverse effect to a Certificateholder as evidenced by a written confirmation from each Rating Agency that such amendment would not result in the reduction or withdrawal of the then current ratings of any outstanding Class of Certificates. The Swap Agreement shall not part of any REMIC. The Swap Provider is the calculation agent under the Swap Agreement and shall calculate all amounts pursuant to the Swap Agreement and notify the Securities Administrator of all such amounts. The Depositor hereby directs the Securities Administrator to execute, deliver and perform its obligations under the Swap Agreement on the Closing Date and thereafter on behalf of the Holders of the Offered Certificates and the Class M-10 and Class M-11 Certificates. The Seller, the Depositor, the Servicer and the Holders of the Offered Certificates and the Class M-10 and Class M-11 Certificates by their acceptance of such Certificates acknowledge and agree that the Securities Administrator shall execute, deliver and perform its obligations under the Swap Agreement and shall do so solely in its capacity as Securities Administrator of the Supplemental Interest Trust and not in its individual capacity. The Depositor hereby instructs the Securities Administrator to make any and all demands for Eligible Collateral (as defined in the ISDA Master Agreement) under the Swap Agreement from the Swap Provider in satisfaction of the Delivery Amount (as defined in the ISDA Master Agreement) requirement. The Depositor hereby instructs the Securities Administrator to deliver notice to the Swap Provider upon any failure of the Swap Provider to transfer the Delivery Amount (as defined in the ISDA Master Agreement) pursuant to an Approved Credit Support Document (as defined in the Swap Agreement).

  • Collateral Matters; Swap Agreements The benefit of the Security Instruments and of the provisions of this Agreement relating to any collateral securing the Indebtedness shall also extend to and be available to those Lenders or their Affiliates which are counterparties to any Swap Agreement with the Borrower or any of its Subsidiaries on a pro rata basis in respect of any obligations of the Borrower or any of its Subsidiaries which arise under any such Swap Agreement while such Person or its Affiliate is a Lender, but only while such Person or its Affiliate is a Lender, including any Swap Agreements between such Persons in existence prior to the date hereof. No Lender or any Affiliate of a Lender shall have any voting rights under any Loan Document as a result of the existence of obligations owed to it under any such Swap Agreements.

  • 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.

  • 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.

  • Hedging Agreements The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

  • Hedging Contracts No Restricted Person will be a party to or in any manner be liable on any Hedging Contract, except:

  • Hedging Arrangements To the extent any Affiliate of a Lender is a party to a Secured Hedging Agreement with the Borrower, such Affiliate of a Lender shall be deemed to appoint the Administrative Agent its nominee and agent, and to act for and on behalf of such Affiliate in connection with the Security Documents and to be bound by this Article IX.

  • Hedge Agreements On each date that any Hedge Agreement is executed by any Hedge Provider, Borrower and each other Loan Party satisfy all eligibility, suitability and other requirements under the Commodity Exchange Act (7 U.S.C. § 1, et seq., as in effect from time to time) and the Commodity Futures Trading Commission regulations.

  • Hedging Agreement Any termination payment shall be due by the Borrower under any Hedging Agreement and such amount is not paid within ten (10) Business Days of the due date thereof.

Time is Money Join Law Insider Premium to draft better contracts faster.