Net Swap Payments definition

Net Swap Payments means, for any Payment Date, collectively, the Class A Net Swap Payment, the Class B Net Swap Payment and the Class C Net Swap Payment for such Payment Date.

Net Swap Payments means, for any Payment Date, the net amount payable by the Trust pursuant to the Interest Rate Swap Agreements, excluding any Swap Termination Payments.]

Net Swap Payments or “Net Swap Payment” means the Class A-4b Net Swap Payment.]

Examples of Net Swap Payments in a sentence

• On any Distribution Date, Swap Termination Payments, Net Swap Payments owed to the Swap Provider and Net Swap Receipts for that Distribution Date will be deposited into the Swap Account.

• On any Distribution Date, Swap Termination Payments, Net Swap Payments owed to the Swap Provider and Net Swap Receipts for that Distribution Date will be deposited into the Supplemental Interest Trust.

• The Trustee shall establish and maintain or cause to be established and maintained in the name of the Trust, in the corporate trust department of an office or branch of either the Trustee or a Qualified Institution, a non-interest bearing segregated trust account (for payment of Net Swap Payments, the “Interest Rate Swap Account”).

• The Trustee shall establish and maintain or cause to be established and maintained in the name of the Trust, in the corporate trust department of an office or branch of either the Trustee or a Qualified Institution, a non-interest bearing segregated trust account (for payment of Net Swap Payments, the "Interest Rate Swap Account").

• Section 4.06 Tax Treatment of Net Swap Payments and Swap Termination Payments.

More Definitions of Net Swap Payments

Net Swap Payments. A net payment (a) by the Supplemental Interest Trust Trustee, on behalf of the Supplemental Interest Trust, to the Swap Counterparty, to the extent that the Supplement Interest Trust Payment exceeds the Swap Counterparty Payment for such Swap Payment Date, or (b) by the Swap Counterparty to the Supplemental Interest Trust Trustee, on behalf of the Supplemental Interest Trust, to the extent that the Swap Counterparty Payment payable to the Supplemental Interest Trust exceeds the Supplement Interest Trust Payment for such Swap Payment Date.

Net Swap Payments. With respect to each Payment Date, the excess, if any, of (a) the monthly payments by the Seller to the Swap Counterparty under the Swap Documents and any interest accrued thereon over (b) the monthly payments by the Swap Counterparty to the Seller under the Swap Documents and any interest accrued thereon.

Net Swap Payments means, for any interest rate swap transaction, the net amount with respect to regularly scheduled payments, if any, owed by the issuer to the swap counterparty on any payment date, including prior unpaid Net Swap Payments and any interest accrued thereon under that interest rate swap transaction. "Net Swap Payments" do not include Swap Termination Payments.

Net Swap Payments has the meaning specified in the Sale and Servicing Agreement.

Net Swap Payments means all payments received or payable pursuant to any Hedge Transaction that is an interest rate swap, but excluding Hedge Breakage and amounts constituting variation margin or other collateral required to be posted to a Counterparty Hedge Maintenance Account by the related Hedge Counterparty under such Hedge Transaction.

Net Swap Payments or "Net Swap Payment" means the Class A-3 Net Swap Payment, the Class A-4 Net Swap Payment, the Class B Net Swap Payment and/or the Class C Net Swap Payment.

Net Swap Payments or “Net Swap Payment” means the Class A-2 Net Swap Payment, the Class A-3b Net Swap Payment and/or the Class A-4b Net Swap Payment.