Examples of Interest Rate Swap Counterparty, in a sentence
Pursuant to the terms of the Class Interest Rate Swap, the Interest Rate Swap Counterparty shall pay to the Trust the Net Swap Receipt or the Trust shall pay to the Interest Rate Swap Counterparty the Net Swap Payment, as applicable.
If the Trust does not receive payment from the Interest Rate Swap Counterparty on each Interest Payment Date (if due), the Trustee, on behalf of the Trust, shall attempt to determine from the Interest Rate Swap Counterparty the reasons therefore and whether such payment is to be made by the Interest Rate Swap Counterparty on such Interest Payment Date.
If the Class Interest Rate Swap has not been terminated and the Trust has not received any payment due from the Interest Rate Swap Counterparty on the related Interest Payment Date, the Trustee shall notify the Master Servicer of such fact prior to 1:00 p.m. Chicago time on such Interest Payment Date.
Pursuant to the terms of the Class Interest Rate Swap, on each Distribution Date, the Interest Rate Swap Counterparty shall pay to the Trust the Net Swap Receipt or the Trust shall pay to the Interest Rate Swap Counterparty the Net Swap Payment, as applicable.
If the Trust does not receive payment from the Interest Rate Swap Counterparty on each Distribution Date (if due), the Trustee, on behalf of the Trust, shall attempt to determine from the Interest Rate Swap Counterparty the reasons therefore and whether such payment is to be made by the Interest Rate Swap Counterparty on such Distribution Date.