Examples of Initial Hedge Counterparty in a sentence
The Rated Noteholders, the Initial Hedge Counterparty and each Income Noteholder is an express third-party beneficiary of this Indenture.
Nothing in this Indenture or in the Rated Notes, expressed or implied, shall give to any Person, other than the parties hereto and their successors hereunder, the Rated Noteholders, the Initial Hedge Counterparty and each Income Noteholder, any benefit or any legal or equitable right, remedy or claim under this Indenture.
This effect will, however, occur only if other conditions such as the institutional conti nuity of the CDM are met and a perspective for the CDM beyond 2020 remains open.
The Issuer shall promptly notify the Trustee in writing and upon receipt of such notice the Trustee shall promptly notify the Rated Noteholders and the Initial Hedge Counterparty if at any time the rating of any Class of Rated Notes has been, or is known will be, changed or withdrawn.
Pursuant to the Interest Rate Cap Transaction, on each Loan Payment Date until the scheduled termination date, the Initial Hedge Counterparty is obliged to pay to the Hedging Borrower an amount equal to the excess (if any) of the rate of interest (set by reference to three-month Loan LIBOR) above the agreed strike rate (being 2.75 per cent.) multiplied by the notional amount of the Interest Rate Cap Transaction and the applicable day count fraction.