Approved Swap Counterparty definition

Approved Swap Counterparty means any Person (a) who at the time of entering into a Swap Agreement is a Lender or an Affiliate of a Lender, (b) whose (or whose parent company’s) long term senior unsecured debt rating is A- or higher by S&P or A3 or higher by Xxxxx’x (or their equivalent), or (c) that is party to a Swap Agreement with any Loan Party as of the Effective Date.
Approved Swap Counterparty means any Person (a) who at the time of entering into a Swap Agreement is a Lender or an Affiliate of a Lender, (b) whose (or whose parent company’s) long term senior unsecured debt rating is A- or higher by S&P or A3 or higher by Moody’s (or their equivalent), or (c) that is party to a Swap Agreement with any Loan Party as of the Effective Date.
Approved Swap Counterparty means each swap counterparty approved in writing by the Lender from time to time; provided, however, the Lender may, by giving written notice to the Borrower, elect to revoke such swap counterparty’s status as an Approved Swap Counterparty for purposes of any Hedging Transactions entered into following such notice if the Lender has concerns about such swap counterparty’s long or short term financial well being or creditworthiness.

Examples of Approved Swap Counterparty in a sentence

  • The Subfunds may enter into swap arrangements or other derivative techniques, including, for the avoidance of doubt the OTC Swap Transactions, each of which expose the Subfund to the risk that the Approved Swap Counterparty may default on its obligations to perform under the relevant contract.

  • In the event that any swap counterparty loses its status as an Approved Swap Counterparty for the purposes of future Hedging Transactions, the Lender shall be entitled in connection with any redetermination of the Borrowing Base to ignore or discount the effect and value of existing Hedging Transactions previously entered into with such swap counterparty.

  • Schedule 3.25 sets forth a true and complete list of all Swap Agreements of the Loan Parties in effect as of the Effective Date, the material terms thereof (including the type, effective date, term or termination date and notional amounts or volumes), the estimated net mark to market value thereof, all credit support agreements relating thereto (including any margin required or supplied) and the counterparty to each such agreement, which such counterparty is an Approved Swap Counterparty.

  • The Sub-Funds may enter into swap arrangements or other derivative techniques, including, for the avoidance of doubt the OTC Swap Transactions, each of which expose the Sub- Fund to the risk that the Approved Swap Counterparty may default on its obligations to perform under the relevant contract.

  • The benefit of the Collateral Documents and of the provisions of this Agreement relating to any collateral securing the Obligations shall also extend to and be available to any Approved Swap Counterparty, on a pro rata basis in respect of any obligations of Borrower or any of its Subsidiaries which arise under any such Swap Contract.

  • For the avoidance of doubt, any assignee, transferee or purchaser, as applicable, of any Swap Counterparty, shall not be deemed as a “Swap Counterparty” hereunder nor as a “Secured Swap Provider” under the Credit Agreement until such assignee, transferee or purchaser, as applicable, satisfies the criteria of being an Approved Swap Counterparty and has executed a Joinder Supplement on terms reasonably acceptable to the Creditors.

  • In the case of funded swaps the Sub-Fund will invest a portion of its net asset value in one or more derivative contracts in the form of funded swaps (the ‘Funded Swap’ and together with the Unfunded Swaps, the ‘OTC Swap Transactions’ or ‘Swaps’, as the case may be) entered into with an Approved Swap Counterparty.

  • As a condition to the Swap Agreements entered into by Borrower or any of its Subsidiaries with any other Approved Swap Counterparty being secured obligations under the Security Instruments (other than those entered into between the Borrower and FBSW or any other Lender or Secured Cash Management Provider), each such other Approved Swap Counterparty will be required to become a party to this Agreement by executing a Joinder Supplement on terms reasonably acceptable to the Creditors.

  • No Approved Swap Counterparty shall have any voting rights under any Loan Document as a result of the existence of obligations owed to it under any such Swap Contracts.

  • Notwithstanding the foregoing, Obligations arising under Treasury Management Agreements and Swap Contracts with an Approved Swap Counterparty and which is subject to an executed intercreditor agreement shall be excluded from the application described above if Lender has not received written notice thereof, together with such supporting documentation as Lender may request, from the applicable Treasury Management Party or Approved Swap Counterparty, as the case may be.


More Definitions of Approved Swap Counterparty

Approved Swap Counterparty means CME Group, Inc. and each other swap counterparty approved in writing not to be unreasonably withheld by the Lender from time to time (provided that the Lender may condition such consent for any particular swap counterparty on the delivery of a parent guaranty or other credit support for such swap counterparty's obligations on terms acceptable to the Lender); provided, however, the Lender may, by giving written notice to the Borrower, reasonably elect to revoke such swap counterparty's status as an Approved Swap Counterparty for purposes of any Hedging Transactions entered into following such notice.
Approved Swap Counterparty means any counterparty to any Rate Contract with the Borrower that (a) has a credit rating of A or higher from Xxxxx’x Investors Service Inc. or A or higher from Standard & Poor’s Corporation and (b) is approved by the Agent its sole discretion.
Approved Swap Counterparty means an “Approved Counterparty,” as such term is defined in the Credit Agreement.
Approved Swap Counterparty means any counterparty to a Swap Contract with Borrower or any Subsidiary approved by Lender, such approval not to be unreasonably withheld; provided, however, that Lender may, by giving reasonable written notice to the Borrower and to the Approved Swap Counterparty, elect to revoke the Approved Swap Counterparty's status as a "Approved Swap Counterparty" for purposes of any Swap Contract entered into beginning on the Business Day following the Borrower's and the Approved Swap Counterparty's receipt of such notice if the Lender has material concerns about such Approved Swap Counterparty’s long or short term financial well-being or creditworthiness. Any such Approved Swap Counterparty must, at the time of the contract, have a minimum debt rating of BBB or Baa2 as determined either by Standard & Poor's Corporation or Xxxxx'x Investors Service, Inc. or be otherwise reasonably acceptable to Lender.
Approved Swap Counterparty means (a) each Secured Bank Hedge Provider, (b) solely with respect to the Existing Hedging Transactions, each Secured Third Party Hedge Provider; and (c) any Person proposed by Borrower so long as the long-term senior unsecured debt rating of such swap counterparty (or of the credit support provider for such swap counterparty’s obligations under its Hedging Transactions) at the time of proposal is at least BBB+/Baa1 by S&P or Moody’s (or their equivalent). Notwithstanding the foregoing, solely with respect to any Person described in the foregoing clause (c), Administrative Agent may, by giving written notice to Borrower, elect to revoke such swap counterparty’s status as an Approved Swap Counterparty for purposes of any Hedging Transactions entered into following such notice if the long-term senior unsecured debt rating of such Approved Swap Counterparty (or of the credit support provider for such Approved Swap Counterparty’s obligations under such Hedging Transactions) is not BBB+ or Baa1 by S&P or Moody’s (or their equivalent) or higher; provided that, that solely for purposes of determining when a swap counterparty described in the foregoing clause (c) may no longer enter into Hedging Transactions with any Loan Party on a secured basis, any such revocation shall not be effective with respect to the swap counterparty that is the subject of the revocation until that swap counterparty is notified, or otherwise has actual knowledge, of Administrative Agent’s revocation of such status.

Related to Approved Swap Counterparty

  • Eligible Swap Counterparty means an entity, which may be an affiliate of a remarketing agent, engaged in the business of entering into derivative instrument contracts that satisfies the Rating Agency Condition.

  • Swap Counterparty means Lender or an Affiliate of Lender, in its capacity as counterparty under any Swap Contract.

  • Secured Swap Provider means (i) a Lender or an Affiliate of a Lender (or a Person who was a Lender or an Affiliate of a Lender at the time of execution and delivery of a Rate Contract) who has entered into a Secured Rate Contract with Borrower, or (ii) a Person with whom Borrower has entered into a Secured Rate Contract provided or arranged by GE Capital or an Affiliate of GE Capital, and any assignee thereof.

  • Hedge Counterparty means a Lender, the Administrative Agent or any of the Lender’s or the Administrative Agent’s affiliates (at the time a hedging agreement is entered into) who has entered into a hedging agreement for the purpose of hedging interest rate liabilities and/or any exchange rate and/or commodity price risks provided it has become a party, or by execution of an additional bank secured party acknowledgment has agreed to be bound by the terms of, to the First Lien Intercreditor Agreement in its capacity as hedge counterparty.

  • Swap Provider means any Person that, at the time it enters into a Swap Agreement is a Lender or an Affiliate of a Lender, in its capacity as a party to such Swap Agreement.

  • Eligible Counterparty means any bank or financial institution (which for these purposes shall include any leading dealer or broker in commodity and commodity index swap transactions) incorporated, domiciled and regulated in an OECD country with a rating equal to the Eligible Counterparty Threshold Rating or higher (or the equivalent rating from any other Rating Agency) or having the benefit of an enforceable guarantee from an Affiliate with a rating equal to the Eligible Counterparty Threshold Rating or higher (or the equivalent rating from any other Rating Agency).

  • Cap Counterparty Not applicable.

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.

  • Secured Swap Agreement means a Swap Agreement between (a) any Loan Party and (b) a Secured Swap Provider.

  • Acceptable Counterparty means any counterparty to the Interest Rate Cap Agreement that has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, a long-term unsecured debt rating of at least “A+” by S&P and “Aa3” from Xxxxx’x, which rating shall not include a “t” or otherwise reflect a termination risk and is otherwise reasonably acceptable to Lender.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Derivative Counterparty means any party to any Derivative Agreement other than the Issuer or the Indenture Trustee.

  • Approved Counterparty means (a) any Lender or any Affiliate of a Lender and (b) any other Person whose long term senior unsecured debt rating is A-/A3 by S&P or Xxxxx’x (or their equivalent) or higher.

  • Hedging Counterparty means HSBC Bank plc or any Affiliate of HSBC Bank plc or any other party

  • Swap Providers means, collectively, the Asset Swap Providers, the Liability Swap Providers and the providers of any other swap agreements entered into in connection with the Programme;

  • Interest Rate Swap Agreement means the agreement(s) (including any further replacement agreements) entered into between the Guarantor LP and the Interest Rate Swap Provider(s) in the form of an ISDA Master Agreement, as the same may be amended, varied, supplemented, restated or extended from time to time, including a schedule and confirmations in relation to each Tranche or Series of Covered Bonds;

  • Currency Swap Agreement means any currency swap agreement, including all schedules and confirmations thereto, entered into by the Issuer and the Currency Swap Counterparty, as the same may be amended, supplemented, renewed, extended or replaced from time to time.

  • Hedge Counterparty Ratings Requirement means (a) either (i) the unsecured, short-term debt obligations of the substitute counterparty (or its Credit Support Provider) are rated at least “A-1” by S&P or (ii) if the substitute counterparty does not have a short-term rating from S&P, the unsecured, long-term senior debt obligations of the substitute counterparty (or its Credit Support Provider) are rated at least “A+” by S&P, (b) either (i) the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “A1” by Moody’s (and if rated “A1” by Moody’s, such rating is not on watch for possible downgrade to below “A1”) and the unsecured, short-term debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “P-1” by Moody’s (and if rated “P-1” by Moody’s, such rating is not on watch for possible downgrade and remaining on watch for possible downgrade), or (ii) if such substitute counterparty (or its Credit Support Provider) does not have a short-term debt rating from Moody’s, the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “Aa3” by Moody’s (and if rated “Aa3” by Moody’s, such rating is not on watch for possible downgrade to below “Aa3”), and (c) either (i) the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “A” by Fitch or (ii) the unsecured, short-term debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “F1” by Fitch. For the purpose of this definition, no direct or indirect recourse against one or more shareholders of the substitute counterparty (or against any Person in control of, or controlled by, or under common control with, any such shareholder) shall be deemed to constitute a guarantee, security or support of the obligations of the substitute counterparty.

  • Hedge Provider means Xxxxx Fargo or any of its Affiliates.

  • Lender Counterparty means each Lender or any Affiliate of a Lender counterparty to a Hedge Agreement (including any Person who is a Lender (and any Affiliate thereof) as of the Closing Date but subsequently, whether before or after entering into a Hedge Agreement, ceases to be a Lender) including, without limitation, each such Affiliate that enters into a joinder agreement with Collateral Agent.

  • Companion Loan Rating Agency Confirmation With respect to any matter involving the servicing and administration of a Serviced Companion Loan or any related REO Property as to which any Serviced Companion Loan Securities exist, confirmation in writing (which may be in electronic form) by each applicable Companion Loan Rating Agency that a proposed action, failure to act or other event so specified will not, in and of itself, result in the downgrade, withdrawal or qualification of the then-current rating assigned to any class of such Serviced Companion Loan Securities (if then rated by the Companion Loan Rating Agency); provided that upon receipt of a written waiver or other acknowledgment from the Companion Loan Rating Agency indicating its decision not to review or declining to review the matter for which the Companion Loan Rating Agency Confirmation is sought (such written notice, a “Companion Loan Rating Agency Declination”), or as otherwise provided in Section 3.30 of this Agreement, the requirement for the Companion Loan Rating Agency Confirmation from the applicable Companion Loan Rating Agency with respect to such matter shall not apply.

  • Counterparty Downgrade Collateral means any cash and/or securities delivered to the Issuer as collateral for the obligations of a Hedge Counterparty under a Hedge Transaction.

  • Hedging Agreement Provider means any Person that enters into a Secured Hedging Agreement with a Credit Party or any of its Subsidiaries that is permitted by Section 6.1(d) to the extent such Person is a Lender, an Affiliate of a Lender or any other Person that was a Lender (or an Affiliate of a Lender) at the time it entered into the Secured Hedging Agreement but has ceased to be a Lender (or whose Affiliate has ceased to be a Lender) under the Credit Agreement.

  • Fixed Swap Payment With respect to any Distribution Date, a fixed amount equal to the related amount set forth in the Interest Rate Swap Agreement.

  • Credit Enhancement Provider means, with respect to any Securities, any person issuing, funding or otherwise making available, for the benefit of Securityholders or any party to a Serviced Corporate Trust Contract, an asset as an enhancement of the credit quality or liquidity of any Securities or the mortgage assets or other assets pledged for or underlying such Securities, such as a letter of credit, surety bond, insurance policy, guaranty, reserve fund pledge or collateral undertaking.

  • Cap Provider means the third-party financial institution approved by Lender that is the counterparty under any Cap Agreement or Replacement Cap Agreement.