Cap Agreement definition

Cap Agreement means any interest rate cap agreement, interest rate swap agreement or other interest rate-hedging contract or agreement, in a form acceptable to Lender, obtained by Borrower from a Cap Provider as a requirement of any Loan Document or as a condition of Lender’s making the Loan.

Cap Agreement means the interest rate cap agreement relating to the Class A-1b Notes consisting of the 2002 ISDA Master Agreement (Multicurrency Cross-Border), schedule and credit support annex, each dated as of October 5, 2018, and the confirmation, dated on or about October 5, 2018, in each case, between the Issuer and the Cap Counterparty, as such agreement may be amended and supplemented from time to time in accordance with its terms.

Cap Agreement. The Interest Rate Cap Agreement dated as of May 28, 2004, entered into between the Trustee on behalf of the Trust Fund (for the benefit of Certificateholders) and the Cap Provider, which agreement provides for monthly payments, commencing in July 2004 and terminating in May 2006, by the Cap Provider specified therein, but subject to the conditions set forth therein, together with the confirmation and schedules relating thereto, in the form of Exhibit O hereto. Cap Provider: Xxxxxx Brothers Special Financing Inc.

Examples of Cap Agreement in a sentence

• The Issuer agrees that it shall not assert exclusive control over, or originate entitlement orders or instructions for the disposition of funds with respect to, the Cap Collateral Account unless the conditions for the exercise of its rights and remedies pursuant to the Cap Agreement are met and such assertion of exclusive control or origination of instructions or entitlement orders is for the purpose of exercising such rights and remedies.

• If the Cap Counterparty is required to post collateral under the terms of the Cap Agreement, upon written direction and notification of such requirement, the Trust, or the Servicer on behalf of the Trust, shall establish a segregated account (the “Cap Collateral Account”) at a Qualified Institution that (i) is not affiliated with the Cap Counterparty and (ii) has total assets of at least $10,000,000,000 (the “Cap Custodian”), titled as an account of the Cap Counterparty as depositor and entitlement holder.

• The only permitted withdrawal from or application of funds on deposit in, or otherwise to the credit of, the Cap Collateral Account shall be (i) for application to obligations of the Cap Counterparty to the Issuer under the Cap Agreement in accordance with the terms of the Cap Agreement or (ii) to return collateral to the Cap Counterparty when and as required by the Cap Agreement or applicable law.

More Definitions of Cap Agreement

Cap Agreement. Any of the two interest rate Cap Agreements between the Supplemental Interest Trust and a Cap Counterparty which are deemed to be assets of the Supplemental Interest Trust and not an asset of any one of the REMICs created hereunder.

Cap Agreement. The interest rate cap agreement (Reference No. 2440376) entered into by the Supplemental Interest Trust and the Cap Counterparty, dated May 5, 2006, which agreement provides for the monthly payment specified to the Securities Administrator (for the benefit of Certificateholders) commencing with the Distribution Date in November 2006 and ending on the Distribution Date in August 2012, by the Cap Counterparty, but subject to the conditions set forth therein, together with any schedule, confirmations or other agreements relating thereto, attached as Exhibit P. Cap Amount: With respect to each Distribution Date, the amount of any Cap Payment deposited into the Cap Account.

Cap Agreement. The Interest Rate Cap Agreement dated as of August 29, 2003, entered into between the Trustee on behalf of the Trust Fund (for the benefit of Certificateholders), in the case of the Basis Risk Cap, and on behalf of the holder of the Class X Certificate, in the case of the Class X Cap, and the Cap Provider, which agreement provides for the monthly payment, commencing in October 2003 and terminating in August 2005, by the Cap Provider specified therein, but subject to the conditions set forth therein, together with the confirmation and schedules relating thereto, in the form of Exhibit P hereto. The portion of the Cap Agreement consisting of the Class X Cap shall not be an asset of the Trust Fund, and the Trustee shall hold the Class X Cap separate and apart from the assets of the Trust Fund, solely for the benefit of the Class X Certificateholder. Cap Provider: Xxxxxx Brothers Special Financing Inc.

Cap Agreement means the ISDA Master Interest Rate Agreement dated February 27, 2002 between the Trust Collateral Agent and the Cap Provider, including the related Schedule One and Confirmation, and together with any replacement Cap Provider thereafter approved by the Insurer.

Cap Agreement. The interest rate cap agreement consisting of the ISDA Master Agreement and the schedule and confirmation thereto, each dated April 4, 2003 between the Trustee, on behalf of the Trust, and the Cap Provider, as such agreement may be amended and supplemented in accordance with its terms and any replacement interest rate cap agreement acceptable to the Trustee.

Cap Agreement. The interest rate cap agreement, dated February 24, 2003, between the Cap Provider and the Depositor, or any replacement thereof. Cap Provider: Morgan Stanley Capital Services, Inc., a Delaware corporation, and its xxxxxxsxxx xx interest. Certificate: Any one of the Certificates executed by the Trustee in substantially the forms attached hereto as exhibits.

Cap Agreement means any interest rate cap agreement between the Borrower or its designee and any counterparty, as such agreement may be amended, supplemented or substituted from time to time, a security interest in which Cap Agreement shall be granted to the Trustee.