Cover Pool Swap definition

Cover Pool Swap means the interest rate and cover pool swap transaction documented by a confirmation in the form set out in Schedule 3. Effective Date means any Local Business Day as designated by Party A in its sole discretion as the Effective Date on five Local Business Days notice to each of Party B and the Security Trustee; Effective Date Payment means

Cover Pool Swap means the interest rate and cover pool swap transaction entered into under the terms of the Interest Rate Swap Agreement; Depositor Set-off Determination Date means if (a) the long-term unsubordinated, unguaranteed debt rating of the Issuer is rated at least A by Fitch, BBB+ by S&P and A2 by Moody's and the short-term unsubordinated, unguaranteed debt rating of the Issuer is rated at least F1 by Fitch and A-2 by S&P, January and July in each year or (b) the long-term unsubordinated debt rating of the Issuer is rated less than A by Fitch, BBB+ by S&P or A2 by Moody's or the short-term unsubordinated, unguaranteed debt rating of the Issuer is rated less than F1 by Fitch or A-2 by S&P, each Calculation Date. Provided that, if the long-term unsubordinated, unguaranteed debt rating of the Issuer is again rated at least A by Fitch, BBB+ by S&P and A2 by Moody's and the short-term unsubordinated, unguaranteed debt rating of the Issuer is again rated at least F1 by Fitch and A-2 by S&P, the Depositor Set-off Determination Date, will, be determined in accordance with (a) above;

Cover Pool Swap means the interest rate and cover pool swap transaction entered into under the terms of the Interest Rate Swap Agreement;

Examples of Cover Pool Swap in a sentence

• The Cover Pool Swap Provider, the Currency Swap Providers and the Interest Rate Swap Providers are together referred to as the Swap Providers.

• The Cover Pool Swap, each Currency Swap and each Interest Rate Swap are together referred to as the Swaps.

• Interest Rate Swap Providers: The Issuer may enter into single currency interest rate swaps(each, an Interest Rate Swap) from time to time with third party counterparties (each, an Interest Rate Swap Provider) in order to hedge the Issuer's interest rate risks in ISK and/or other currencies to the extent that they have not been hedged by the Cover Pool Swap or a Currency Swap.

• For example, such potential conflicts may arise because members of the Group act in several capacities (such as Cover Pool Swap Provider, Covered Bond Swap Provider, Issuer, Cash Manager, Servicer) under the Transaction Documents although the relevant rights and obligations under the Transaction Documents are notcontractually conflicting and are independent from one another.

• Each Covered Bond Swap will swap Singapore dollar floating rate amounts (or the relevant portion thereof) received by the CBG (including amounts received under the Cover Pool Swap if applicable) into amounts reflecting the amounts (or the relevant portion thereof) payable under the relevant Series of Covered Bonds.

• Third party counterparty (the Cover Pool Swap Provider, the Currency Swap Provider, the Indexed Currency Swap Providerand/or Interest Rate Swap Provider) Arion Bank hf.(the Issuer)Eligible Swaps Covered BondProceeds Covered Bonds Covered Bondholders Words and expressions defined in "Form of the Covered Bonds" and "Terms and Conditions of the Covered Bonds" below shall have the same meanings in this overview.

• This article is licensed under a Creative Commons Attribution 3.0 Unported Licence.414.4 E.

• To provide a hedge against currency and/or other risks in respect of amounts received by the CBG under the Cover Pool Swap and amounts payable or that may become payable in respect of its obligations under the Covered Bond Guarantee, the CBG may enter into one or more Covered Bond Swap Agreements with one or more Covered Bond Swap Providers, and may enter into a new Covered Bond Swap thereunder for each Series of Covered Bonds at the time such Covered Bonds are issued.

• For example, such potential conflicts may arise because members of the Group act in several capacities (such as Cover Pool Swap Provider, Covered Bond Swap Provider, Issuer, Cash Manager or Servicer) under the Transaction Documents although the relevant rights and obligations under the Transaction Documents are not contractually conflicting and are independent from one another.

• Capitalised terms used, but not defined, in this Cover Pool Swap Amendment Agreement shall have the meanings given thereto in the Amended and Restated Master Definitions and Construction Agreement made between, inter alios, the parties to this Cover Pool Swap Amendment Agreement on 8 September 2009, as the same may be amended, varied or supplemented from time to time.