CDS Upfront Amount definition
CDS Upfront Amount means, with respect to each Short CDS, the amount (if any) payable by the Issuer on an upfront basis on or about the Effective Date of such Short CDS, as determined by the Swap Calculation Agent, in good faith and a commercially reasonable manner, by reference to the present value of Fixed Amounts that would be payable by the Issuer on a periodic basis over the Term of such Short CDS based on the Swap Counterparty's Quote or, as the case may be, the Improved CDS Upfront Payment Quote. Such Fixed Amounts will be calculated on the basis of the Fixed Rate quoted by the Swap Counterparty in the Short CDS Confirmation Notice and the Floating Rate Payer Calculation Amount as specified in the Short CDS Recommendation by the Portfolio Advisor.