Qualified Swap Agreement means a contract or agreement, payable from Surplus Revenues on a basis subordinate to Qualified Obligations, intended to place payment obligations on the interest rate, currency, cash flow or other basis desired by the City, including, without limitation, any interest rate swap agreement, currency swap agreement, forward payment conversion agreement or futures contract, any contract providing for payments based on levels of, or changes in, interest rates, currency exchange rates, stock or other indices, any contract to exchange cash flows or a series of payments, or any contract, including, without limitation, an interest rate floor or cap, or an option, put or call, to hedge payment, currency, rate, spread or similar exposure, between the City and a counterparty; provided that not less than 30 days prior to the City’s execution of such contract or agreement, each Rating Agency which maintains a rating with respect to any Qualified Obligations receives notice in writing of the City’s pending execution thereof; and provided further that at the time of origination each Rating Agency which maintains a rating with respect to any Qualified Obligations confirms in writing to the City that the City’s execution and delivery of such contract will not result in a downgrading, withdrawal or suspension of such rating.
Qualified Swap Agreement means a contract or agreement, payable from Distribution System Net Revenues on a parity with Distribution System Parity Obligations, intended to place payment obligations on the interest rate, currency, cash flow or other basis desired by the City, including, without limitation, any interest rate swap agreement, currency swap agreement, forward payment conversion agreement or futures contract, any contract providing for payments based on levels of, or changes in, interest rates, currency exchange rates, stock or other indices, any contract to exchange cash flows or a series of payments, or any contract, including, without limitation, an interest rate floor or cap, or an option, put or call, to hedge payment, currency, rate, spread or similar exposure, between the City and a counterparty; provided that not less than 30 days prior to the City’s execution of such contract or agreement, each Rating Agency which maintains a rating with respect to any Distribution System Parity Obligations receives notice in writing of the City’s pending execution thereof; and provided further that at the time of origination each Rating Agency which maintains a rating with respect to any Distribution System Parity Obligations confirms in writing to the City that the City’s execution and delivery of such contract will not result in a downgrading, withdrawal or suspension of such rating.
Qualified Swap Agreement means (a) an agreement between the Commission or the Trustee (at the written direction of the Commission) and Counterparty which is an Interest Rate Swap, forward rate agreement, commodity swap, interest rate option, forward foreign exchange agreement, rate cap agreement, rate floor agreement, rate collar agreement, currency swap agreement, embedded cap, cross-currency rate swap agreement, currency option, any other similar agreement (including any option to enter into any of the foregoing), (b) any combination of the foregoing, or (c) a master agreement for any of the foregoing together with all supplements. If at the time the Commission enters into a Qualified Swap Agreement payable from the Trust Estate a Rating Agency rates any Series of Bonds (without regard to credit enhancement) below "A-", then the approval of the Bond Insurer must be obtained prior to the entry into such Qualified Swap Agreement.
Examples of Qualified Swap Agreement in a sentence
Without the prior written consent of the Bank, the Authority shall not enter into, modify or terminate any Qualified Swap Agreement, provided however, that no such consent shall be required if, immediately thereafter, the Authority shall be in compliance with Section 5.2 of the Master Bond Resolution.
In addition, notwithstanding the last sentence of Subsection (G) of Section 5.6 of the Master Bond Resolution, no Supplemental Authorizing Resolution or other supplemental resolution shall provide for a priority of payment of any Qualified Swap Agreement or other hedge agreement that is inconsistent with the priority of payments set forth in the Master Bond Resolution.
Each party hereto agrees for the benefit of any counterparty to a Qualified Swap Agreement that covenants contained herein that are expressly applicable to such a counterparty, are also intended to benefit such counterparty and each such counterparty shall be deemed to be a third party beneficiary with respect thereto, entitled to enforce directly and in its own name any rights or claims it may have against such party and otherwise protect its rights hereunder.
The Authority represents that only Periodic Payments under any Qualified Swap Agreement relating to the Bonds are and, so long as any Obligations remain outstanding under this Agreement, will constitute Parity Obligations; and that all other payments under any Qualified Swap Agreement relating to the Bonds, including without limitation termination payments, are and, so long as any Obligations remain outstanding under this Agreement, will be subordinate to any and all Obligations.
Authorization of Bonds, Junior Lien Obligations and Qualified Swap Agreement.
More Definitions of Qualified Swap Agreement
Qualified Swap Agreement means an agreement between the Commission and a counterparty creating Qualified Swap Payments.
Qualified Swap Agreement means a Public Finance Contract, the District's obligations to make Net Payments under which are payable from the Revenues on a parity with the payment of other Parity Obligations and satisfying the conditions of Section 2.07(a), intended to place Parity Obligations or the applicable investments on the interest rate, currency, cash flow or other basis desired by the District.
Qualified Swap Agreement for purposes of this Series 2004-1 Lease means a swap agreement with a provider (i) initially rated at least “AA-” by S&P or “Aa3” by Xxxxx'x (or whose obligations are unconditionally guaranteed by an entity so rated) at the time the swap agreement is entered into and (ii) following any downgrade of such provider (or guarantor) is rated at least “BBB” by S&P and “Baa2” by Xxxxx'x and has collateralized its obligations under such swap agreement with a zero threshold pursuant to a credit support annex executed by such swap provider in connection with such swap agreement.
Qualified Swap Agreement for purposes of this Series 2006-1 Lease means a swap agreement with a swap provider (i) rated at least “AA-” by S&P or “Aa3” by Xxxxx'x (or whose obligations are unconditionally guaranteed by an entity so rated) at the time the swap agreement is entered into and (ii) following any downgrade of such provider (or guarantor) is rated at least “BBB” by S&P and “Baa2” by Xxxxx'x and has collateralized its Obligations with a zero Threshold as such terms are defined in the Credit Support Annex (the “CSA”) to the Schedule to such swap agreement.
Qualified Swap Agreement for purposes of this Series 2006-1 Lease means a swap agreement with a swap provider (i) rated at least “AA-” by S&P or “Aa3” by Xxxxx'x (or whose obligations are unconditionally guaranteed by an entity so rated) at the time the swap agreement is entered into and (ii) following any downgrade of such provider (or guarantor) is rated at least “BBB” by S&P and “Baa2” by Xxxxx'x and has collateralized its Obligations with a zero Threshold as such terms are defined in the Credit Support Annex (the “CSA”) to the Schedule to such swap agreement. “Series 2006A Certificates” means the $202,105,000 Certificates of Participation, Series 2006A Evidencing Undivided Proportionate Interests of the Owners thereof in Basic Lease Payments to be made by The School Board of Broward County, Florida, as Lessee, pursuant to a Master Lease Purchase Agreement with Broward School Board Leasing Corp., as Lessor, on a parity with the Series 2006B Certificates.
Qualified Swap Agreement means a contract or agreement, payable from Net System Revenues on a parity with Parity Obligations to the extent provided in the definition of Parity Obligations, intended to place Obligations on the interest rate, currency, cash flow or other basis desired by the City, including, without limitation, any interest rate swap agreement, currency swap agreement, forward payment conversion agreement or futures contract, any contract providing for payments based on levels of, or changes in, interest rates, currency exchange rates, stock or other indices, any contract to exchange cash flows or a series of payments, or any contract, including, without limitation, an interest rate floor or cap, or an option, put or call, to hedge payment, currency, rate, spread or similar exposure, between the City and a counterparty; provided that not less than 30 days prior to the City’s execution of such contract or agreement, each Rating Agency which maintains a rating with respect to any Parity Obligation receives notice in writing of the City’s pending execution thereof.
Qualified Swap Agreement means a contract or agreement, intended to place Senior Xxxx Xxxxx or such investments as the Commission shall specify on the interest rate, currency, cash flow or other basis desired by the Commission, payments (other than payments of fees and expenses and termination payments) with respect to which the Commission has specified shall be payable from Revenue on a parity with the payment of Senior Xxxx Xxxxx, including, without limitation, any interest rate swap agreement, currency swap agreement, forward payment conversion agreement or futures contract, any contract providing for payments based on levels of, or changes in, interest rates, currency exchange rates, stock or other indices, any contract to exchange cash flows or a series of payments, or any contract, including, without limitation, an interest rate floor or cap, or an option, put or call, to hedge payment, currency, rate, spread or similar exposure, between the Commission and a Swap Party.