Basis Swap definition

Basis Swap means a commodity derivative contract that is cash-settled based on the difference between: (a) the price of natural gas at one particular pricing point and (b) the price of natural gas at a different delivery location or pricing point.

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Basis Swap means the Transaction entered into between Party A, Party B and the Manager on the terms specified in the form of the Confirmation set out in Annexure 1 (or as otherwise agreed between Party A, Party B and the Manager).

Basis Swap. A contract in which two parties exchange cash flows linked to the difference between the price of a specific quantity of commodities at a particular physical location or quality / grade and the price of the same quantity of commodities on an organized exchange at a different physical location or of a different quality/grade. Cap: Contract which has a maximum price. This is generally purchased by customers that want the opportunity to benefit from expected future price declines, though want to limit their exposure to future price increases.

Examples of Basis Swap in a sentence

The following is an Additional Termination Event in relation to which Party B is the only Affected Party and the Basis Swap is the only Affected Transaction: If, on any day on which the weighted average Mortgage Rate applicable to the Mortgage Loans forming part of the Assets of the Series Trust which are charged interest at a variable rate is equal to or greater than the then Threshold Rate, Party A notifies Party B and each Rating Agency of its intention to terminate the Basis Swap.
A prepayment on the first day of any Calculation Period by Party A under Section 18(c) will constitute a prepayment of Party A's payment obligations (to the extent thereof) in respect of the Basis Swap for the Calculation Period commencing on that Distribution Date.
This Agreement shall terminate upon termination of the last Basis Swap with the Primary Swap Counterparty.
Party A's obligations to make any payment under the Basis Swap and the Fixed Swap on that Payment Date will be reduced (prior to any payment netting under Section 2(c) taking effect) by the same proportion as the reduction in Party B's payment obligations in respect of the Basis Swap and the Fixed Swap on that Payment Date (prior to any payment netting under Section 2(c) taking effect).
The following is an Additional Termination Event in relation to which Party B is the only Affected Party and a Basis Swap is the only Affected Transaction: If, on any day on which the weighted average Mortgage Rate applicable to the Mortgage Loans forming part of the Assets of the Series Trust which are charged interest at a variable rate is equal to or greater than the then Threshold Rate, Party A notifies Party B and each Rating Agency of its intention to terminate the relevant Basis Swap.

More Definitions of Basis Swap

Basis Swap has the same meaning as in the Interest Rate Swap Agreement.

Basis Swap means a basis swap in which both legs reference standard indices over the same currency and a horizon of up to 12 months.

Basis Swap means the transaction under the ISDA Master Agreement and Schedule, dated as of the Closing Date, between the Issuer and the Basis Swap Counterparty.

Basis Swap means an inter est rate swap or exchange agreement or comparable transaction between the County and anot her entity in which each part y to the transaction agrees to make periodic payments to the other party to such transaction, with the amount of each such periodic payment determined by multiplying a specified notionalamount by a rate derived froma specified variable rate of interest or fluctuating interest rate index that is published or otherwise announced on a regular basis by one or more financial publications or financial information services; provided (a) that any such periodic payment amount may be adjusted by adding thereto or subtracting therefrom an incremental amount deter mined by multiplying said not ional amount by a specified percentage rate and (b) that any such transaction may also include agreements by one or both of the parties to make one or more payments in addition to the periodic payments previously described.

Basis Swap. A transaction in which one party pays periodic amounts of a given currency based on a floating rate (usually NYMEX +/- basis rate) and the other party pays periodic amounts of the same currency based on another floating rate (usually an index such as Inside FERC), with both rates reset periodically.

Basis Swap means that certain letter agreement, dated December 27, 2006, between Morgan Stanley Capital Services Inc. and Skynet relating to $1,054,000,000 in respect of the term loan B under the Financing;”

Basis Swap. Each of the 2007-RN1 Note Basis Swap, the Class A Term Note Basis Swap, the Class B Term Note Basis Swap, the Class C Term Note Basis Swap and any other basis swap for a series of Notes or class of Certificates entered into between the Issuing entity and the Swap Counterparty, as each of the same may be amended, supplemented, renewed, extended or replaced from time to time. From and after the date, if any, on which any Contingent Basis Swaps become effective as provided in the Triparty Agreement, each shall constitute an “Basis Swap” for all purposes under the Basic Documents.