Group 1 Swap Agreement definition

Group 1 Swap Agreement. The interest rate swap agreement dated as of June 29, 2007 entered into between the Trustee on behalf of the Supplemental Interest Trust (for the benefit of the Holders of the Group 1 Senior Certificates and the Group 1 Swap Counterparty, which agreement provides for, among other things, a Net Swap Payment to be paid pursuant to the conditions provided therein, commencing with the Distribution Date in August 2007 and terminating in (but including the Distribution Date in) June 2012, but subject to the conditions set forth therein, including the 1992 ISDA Master Swap Agreement (Multi-Currency Cross Border), together with any schedules, confirmations, Credit Support Annex or other agreements relating thereto, attached hereto as Exhibit N-1.
Sample 1Sample 2
Group 1 Swap Agreement. The interest rate swap agreement dated as of May 31, 2007 entered into between the Trustee on behalf of the Supplemental Interest Trust (for the benefit of the Holders of the Group 1 Senior Certificates and the Class I-M1, Class I-M2 and Class I-M3 Certificates and the Swap Counterparty, which agreement provides for, among other things, a Net Swap Payment to be paid pursuant to the conditions provided therein, commencing with the Distribution Date in July 2007 and terminating in (but including the Distribution Date in) May 2012, but subject to the conditions set forth therein, including the 1992 ISDA Master Swap Agreement (Multi-Currency Cross Border), together with any schedules, confirmations, Credit Support Annex or other agreements relating thereto, attached hereto as Exhibit N-1.
Sample 1

Examples of Group 1 Swap Agreement in a sentence

  • Concurrently with the execution of this Agreement, the Group 1 Swap Agreement and the Group 1 Cap Agreement shall be delivered to the Trustee.

  • On each Distribution Date, the Trustee shall first pay or charge as an expense of Pooling REMIC I all expenses of the Trust Fund related to Pool 1 (other than any expenses with respect to the Group 1 Swap Agreement) that are deducted in computing the Interest Remittance Amount for such Distribution Date.

  • Marginal spending on tertiary education is far larger than either primary or secondary, and the progressive distribution of public education spending at the primary and secondary levels is largely erased when the tertiary level is included.

  • The Depositor hereby authorizes and directs the Trustee, in its capacity as trustee of the Supplemental Interest Trust, to represent in the Group 1 Swap Agreement that it is not required by any applicable law of any relevant jurisdiction to make any deduction or withholding for or on account of any tax from Net Swap Payment.

  • The Seller, the Master Servicer, the Depositor, the Servicer and the Holders of the Group 1 Senior Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing and delivering the Group 1 Swap Agreement and the Group 1 Cap Agreement solely in its capacity as trustee of the Supplemental Interest Trust, and not in its individual capacity.

  • In connection therewith, the Depositor hereby authorizes and directs the Trustee (solely in its capacity as trustee of the Supplemental Interest Trust) to execute and deliver the Group 1 Swap Agreement and the Group 1 Cap Agreement (on behalf of the Supplemental Interest Trust), in trust for the benefit of the Holders of the Group 1 Senior Certificates.

  • The Trustee shall not be responsible for the legality or validity of this Agreement, any Servicing Agreement, any Custodial Agreement, the Group 1 Cap Agreement, the Group 1 Swap Agreement, the Balance Guaranteed Cap Agreement or the Group 2 Cap Agreement or the validity, priority, perfection or sufficiency of the security for the Certificates, the Pooling REMIC I Regular Interests or the Pooling REMIC II Regular Interests issued or intended to be issued hereunder.

  • Amounts on deposit in the Group 1 Swap Replacement Receipts Account shall be held for the benefit of the related Group 1 Swap Counterparty and paid to such Group 1 Swap Counterparty if the Supplemental Interest Trust is required to make a payment to such Group 1 Swap Counterparty following an event of default or termination event with respect to the Supplemental Interest Trust under the related Group 1 Swap Agreement.

  • Credit Support Annex: Each credit support annex, if any, to the Group 1 Swap Agreement, the Group 1 Cap Agreement, the Balance Guaranteed Cap Agreement or the Group 2 Cap Agreement, each dated as of June 29, 2007, and each between either the Supplemental Interest Trust or the Trustee on behalf of the Trust Fund and the Group 1 Swap Counterparty, the Group 1 Cap Counterparty, the Balance Guaranteed Cap Counterparty or the Group 2 Cap Counterparty, as applicable.

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Related to Group 1 Swap Agreement

  • Specified Swap Agreement any Swap Agreement entered into by the Borrower and any Qualified Counterparty (or any Person who was a Qualified Counterparty as of the Closing Date or as of the date such Swap Agreement was entered into) in respect of interest rates to the extent permitted under Section 7.13.

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

  • Swap Agreement means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower or the Subsidiaries shall be a Swap Agreement.

  • 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.

  • 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;

  • 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.

  • Cap Contract Any of the Class A-1 Cap Contract, the Class A-2 Cap Contract or the Subordinate Certificates Cap Contract.

  • Swap Agreements means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrowers or the Subsidiaries shall be a Swap Agreement.

  • Floating Swap Payment With respect to any Distribution Date, a floating amount equal to the product of (i) Swap LIBOR, (ii) the related Base Calculation Amount (as defined in the Interest Rate Swap Agreement), (iii) 250 and (iv) a fraction, the numerator of which is the actual number of days elapsed from and including the previous Floating Rate Payer Payment Date (as defined in the Interest Rate Swap Agreement) to but excluding the current Floating Rate Payer Payment (or, for the first Floating Rate Payer Payment Date, the actual number of days elapsed from the Closing Date to but excluding the first Floating Rate Payer Payment Date), and the denominator of which is 360.

  • 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.

  • Net Swap Payment With respect to each Distribution Date, the net payment required to be made pursuant to the terms of the Swap Agreement by either the Swap Provider or the Swap Administrator, which net payment shall not take into account any Swap Termination Payment.

  • Interest Hedge Agreement means an interest rate protection agreement that may be entered into between the Borrower and an Interest Hedge Counterparty on or after the Closing Date, for the sole purpose of hedging interest rate risk between the portfolio of Collateral Loans and the Loans, as amended from time to time in accordance with the terms thereof, with respect to which the Rating Condition is satisfied.

  • Cap Contracts means (i) the Cap Contract between the Trustee and the counterparty named thereunder, for the benefit of the Holders of the Class A-1 Certificates, the Mezzanine Certificates and the Class B Certificates (the "Group I Cap Contract") and (ii) the Cap Contract between the Trustee and the counterparty thereunder, for the benefit of the Class A-2 Certificates, the Mezzanine Certificates and the Class B Certificates (the "Group II Cap Contract").

  • Interest Hedge Agreements means any interest rate swap agreements, interest cap agreements, interest rate collar agreements, or any similar agreements or arrangements designed to hedge the risk of variable interest rate volatility, or foreign currency hedge, exchange or similar agreements, on terms and conditions reasonably acceptable to Administrative Agent (evidenced by Administrative Agent's consent in writing), as such agreements or arrangements may be modified, supplemented, and in effect from time to time.

  • Interest Rate Hedging Agreement means any interest rate protection agreement or other interest rate hedging arrangement.

  • Swap Agreement Obligations means any and all obligations of the Loan Parties and their Subsidiaries, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (a) any Swap Agreement permitted hereunder with a Lender or an Affiliate of a Lender, and (b) any cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement transaction permitted hereunder with a Lender or an Affiliate of a Lender.

  • Interest Rate Cap Agreement means, as applicable, an Interest Rate Cap Agreement (together with the confirmation and schedules relating thereto) in form and substance reasonably satisfactory to Lender between Borrower and an Acceptable Counterparty or a Replacement Interest Rate Cap Agreement.

  • Senior Credit Support Depletion Date The date on which the Class Certificate Balance of each Class of Subordinated Certificates has been reduced to zero.

  • Replacement Interest Rate Cap Agreement means an interest rate cap agreement from an Acceptable Counterparty with terms identical to the Interest Rate Cap Agreement except that the same shall be effective in connection with replacement of the Interest Rate Cap Agreement following a downgrade, withdrawal or qualification of the long-term unsecured debt rating of the Counterparty; provided that to the extent any such interest rate cap agreement does not meet the foregoing requirements, a “Replacement Interest Rate Cap Agreement” shall be such interest rate cap agreement approved in writing by each of the Rating Agencies and Lender with respect thereto.

  • 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.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Interest Swap and Hedging Obligation means any obligation of any Person pursuant to any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate exchange agreement, currency exchange agreement or any other agreement or arrangement designed to protect against fluctuations in interest rates or currency values, including, without limitation, any arrangement whereby, directly or indirectly, such Person is entitled to receive from time to time periodic payments calculated by applying either a fixed or floating rate of interest on a stated notional amount in exchange for periodic payments made by such Person calculated by applying a fixed or floating rate of interest on the same notional amount.

  • Specified Swap Obligation means, with respect to any Loan Party, any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act or any rules or regulations promulgated thereunder.

  • Rate Hedging Agreement means an agreement, device or arrangement providing for payments which are related to fluctuations of interest rates, exchange rates or forward rates, including, but not limited to, dollar-denominated or cross-currency interest rate exchange agreements, forward currency exchange agreements, interest rate cap or collar protection agreements, forward rate currency or interest rate options, puts and warrants.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Interest Rate Hedge Agreement means any swap, cap, collar, forward purchase or similar agreements or arrangements entered into by a Borrower or one of its Affiliates in connection with the Loan Facility for the sole purpose of reducing a Borrower’s exposure to interest rate risk and not for speculative purposes.