Priority Termination Payment means any amount payable by the Issuer to the Swap Counterparty and/or the Contingent Forward Counterparty and/or the FX Swap Counterparty (as the case may be) pursuant to Section 6(e) of the ISDA Master Agreement other than a Subordinated Swap Termination Payment, a Subordinated FX Swap Termination Payment or a Subordinated Contingent Forward Counterparty Termination payment, as the case may be.
Priority Termination Payment means, with respect to a Derivative Product, any termination payment payable by or on behalf of the Issuer under such Derivative Product relating to an early termination of such Derivative Product by the Counterparty, as the non-defaulting party, following (i) the failure of the Issuer to make an Issuer Derivative Payment when due (after any applicable grace periods), but only if the Issuer had sufficient moneys on deposit in the Collection Fund (after giving effect to any required transfers thereto) as of the due date of such Issuer Derivative Payment, (ii) the occurrence of an Event of Default specified in Section 6.01(f) hereof, (iii) the Indenture Trustee's taking any action hereunder to liquidate the entire Trust Estate following an Event of Default and acceleration of the Series 2004-2 Notes pursuant to Section 6.09 hereof or (iv) any other termination payments permitted by the Rating Agencies with a Rating Confirmation.
Priority Termination Payment means any amount payable by the Issuer to the Swap Counterparty and/or the Contingent Forward Counterparty (as the case may be) pursuant to Section 6(e) of the ISDA Master Agreement other than a Subordinated Swap Termination Amount or a Subordinated Contingent Forward Termination Amount (as the case may be).
More Definitions of Priority Termination Payment
Priority Termination Payment means, any amount payable by the Issuer to the Swap Counterparty pursuant to Section 6(e) of the Swap Master Agreement or to the Contingent Forward Counterparty pursuant to Section 6(e) of the Contingent Forward Master Agreement other than a Subordinated Termination Payment (but including, for the avoidance of doubt, any Unpaid Amount (as defined in the relevant Master Agreement) payable by the Issuer to the Swap Counterparty or, as the case may be, the Contingent Forward Counterparty, whether or not as a result of a Non Priority Termination Event). Any such amount payable by the Issuer to the Swap Counterparty under the Swap Agreement shall be calculated as specified in paragraph 8 of this Annex 1.
Priority Termination Payment means, with respect to a Swap Agreement, any termination payment payable by the Issuer under such Swap Agreement relating to an early termination of such Swap Agreement by the Swap Counterparty, as the non defaulting party, following (i) a payment default by the Issuer thereunder, (ii) the occurrence of an Event of Default specified in Section 6.01(o) or (p) of the Base Indenture or (iii) the Trustee's taking any action hereunder to liquidate the Trust Estate following an Event of Default and acceleration of the Notes pursuant to the Base Indenture.
Priority Termination Payment means, with respect to a Derivative Product, any termination payments payable by the Issuer under such Derivative Product if a Rating Confirmation shall have been delivered with respect to the treatment of such termination payments as “Priority Termination Payments.” There shall be no Priority Termination Payments payable with respect to the Interest Rate Cap Agreement.
Priority Termination Payment means, with respect to a derivative product, any termination payment payable by the Issuer under such derivative product relating to an early termination of such derivative product by the counterparty, as the non-defaulting party, following (i) a default in the payment of a regularly scheduled payment by the Issuer thereunder, (ii) the occurrence of an event of bankruptcy or (iii) the Trustee’s taking any action hereunder to liquidate the trust estate following an event of default and acceleration of the notes.
Priority Termination Payment means all termination payments due under the derivative product agreements scheduled resulting from:
Priority Termination Payment means any amount payable by the Issuer to the Swap Counterparty pursuant to Section 6(e) of the ISDA Master Agreement other than a Subordinated Swap Termination Payment.
Priority Termination Payment means, with respect to a Swap Agreement, any termination payment payable by the Issuer under such Swap Agreement relating to an early termination of such Swap Agreement (i) by the applicable Swap Counterparty, as the non-defaulting party, following a payment default (following any applicable grace period) which constitutes a scheduled payment other than a termination payment that would not otherwise constitute a Priority Termination Payment, by the Issuer under the applicable Swap Agreement or (ii) by either party where the applicable Swap Counterparty is the nondefaulting party or the non-affected party following the Trustee’s taking any action hereunder to liquidate the Trust Estate following an Event of Default and acceleration of the Notes (other than as a result of an Event of Default pursuant to Section 6.01(c), (g), (k), (m) or (n), none of which shall, absent any other Event of Default, trigger a Priority Termination Payment) or (iii) by either party where the applicable Swap Counterparty is the non-defaulting party or the non-affected party, following the occurrence of an Event of Default specified in Section 6.01(o) or 6.01(p) or (iv) by either party as a result of the occurrence of an Illegality (as defined in the related Swap Agreement).