Qualified Swap Counterparty definition

Qualified Swap Counterparty has the meaning given to such term in the Indenture.
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Qualified Swap Counterparty means a party that is a recognized dealer in interest rate swaps, organized under the laws of the United States or a jurisdiction located therein (or another jurisdiction reasonably acceptable to the Issuer and each Rating Agency), that with respect to itself or its Credit Support Provider: (a) at the time it becomes a Swap Counterparty has a short–term rating of at least “A–1” by S&P (for so long as any Class A Notes or Class B Notes are deemed Outstanding hereunder and are rated by S&P) and “F–1” by Fitch (for so long as any Class A Notes or Class B Notes are deemed Outstanding hereunder and are rated by Fitch) and either a long–term senior unsecured debt rating of at least “Aa3” by Xxxxx’x (if such Person does not have a “P–1” short–term debt rating by Xxxxx’x) or a long–term senior unsecured debt rating of “A1” by Xxxxx’x (only if the short–term debt of such Person is rated “P–1” by Xxxxx’x) (for so long as any Class A Notes or Class B Notes are deemed Outstanding hereunder and are rated by Xxxxx’x) and thereafter maintains a short–term rating of at least “A–1” by S&P (for so long as any Class A Notes or Class B Notes are deemed Outstanding hereunder and are rated by S&P) and “F–2” by Fitch (for so long as any Class A Notes or Class B Notes are deemed Outstanding hereunder and are rated by Fitch) and either a long–term senior unsecured debt rating of at least “A1” by Xxxxx’x (if such Person does not have a “P–1” short–term debt rating by Xxxxx’x) or a long–term senior unsecured debt rating of at least “A2” by Xxxxx’x (only if the short–term debt of such Person is rated “P–1” by Xxxxx’x) (for so long as any Class A Notes or Class B Notes are deemed Outstanding hereunder and by Xxxxx’x); (b) legally and effectively accepts the rights and obligations under the applicable Swap, or, as the case may be, alternate credit support arrangements pursuant to a written agreement reasonably acceptable to the Issuer and (c) in connection with a Substitute Swap Counterparty, otherwise satisfies the Rating Agency Condition.
Sample 1
Qualified Swap Counterparty means (a) the Agent, any Lender or an affiliate of the Agent or any Lender, (b) a commercial banking institution that is a member of the Federal Reserve System and has a combined capital and surplus and undivided profits of not less than $500,000,000, (c) a corporation (other than an Affiliate of any Borrower) or other entity organized under the laws of any state of the United States or the District of Columbia and rated either (i) A-2 or better by S&P's or P-2 or better by Moodx'x, xx the case of short-term debt obligations or (ii) A or better by S&P in the case of unsecured long-term debt obligations, or (d) a corporation or other entity (other than an Affiliate of any Borrower) (i) organized under the laws of Canada or any province thereof and rated R-1 (middle/low) (or the then equivalent grade) or higher by DBRS or, if not then rated by DBRS, which is rated A-1 or the then equivalent grade or higher by CBRS, or (ii) which has furnished any Borrower a letter of credit, cash prepayment or other form of credit enhancement reasonably acceptable to any Borrower.
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Examples of Qualified Swap Counterparty in a sentence

  • Subject to the Approval Requirements (as defined below in Section 4), the Swap Agreements between Metropolitan and each Qualified Swap Counterparty (as defined below) shall include payment, term, security, collateral, default, remedy, termination, and other terms, conditions and provisions as the Chief Financial Officer, in consultation with the General Counsel, deems necessary or desirable.

  • In connection with the issuance or carrying of bonds, the term of a Swap Transaction between Metropolitan and a Qualified Swap Counterparty shall not extend beyond the latest final maturity date of existing water revenue bonds of Metropolitan.

  • Notwithstanding any other provision of this Swap Policy to the contrary (including, but not limited to, this Section 6 and Section 4 and Section 8 of this Swap Policy), the Chief Financial Officer shall be authorized to execute and deliver on behalf of Metropolitan any Replacement Swap Transaction so long as the counterparty of such Replacement Swap Transaction is a Qualified Swap Counterparty.

  • Notwithstanding any other provision of this Swap Policy, Metropolitan shall be authorized to enter into any assignment or novation of a Swap Transaction from one swap counterparty to another swap counterparty solely with the approval and the authorization of Metropolitan’s Chief Financial Officer if the swap counterparty to which such Swap Transaction is assigned is a Qualified Swap Counterparty.

  • The board may authorize the CFO to execute any termination and/or deliver on behalf of West Basin any replacement swap transaction so long as the counterparty of such replacement swap transaction is a Qualified Swap Counterparty.

  • Rationale: NOCSAE now has a standard for mask/guards on baseball and softball batting helmets (established in January, 2004).

  • The Custodian agrees to maintain each Indenture Trustee's Loan File identified in Section 2.04 of the Sale and Servicing Agreement, said Exhibit being incorporated herein by reference, at the office of the Custodian located at ________ ___________________ or at such other office of the Custodian in _______________ as the Custodian shall designate from time to time after giving the Indenture Trustee 30 days' prior written notice.


More Definitions of Qualified Swap Counterparty

Qualified Swap Counterparty means a counterparty to a Swap Agreement that (a) if such Swap Agreement is entered into with respect to Senior Obligations of a District (i) is a Person that is a bank or other financial institution, (ii) the senior long-term obligations of which, or the obligations of which are guaranteed by a bank or other financial institution, the long-term obligations of which, are rated “Aa” or “AA,” or the equivalent thereof, or better by a Nationally Recognized Rating Agency, such ratings to be determined without regard to any subcategory or modifier, and (iii) the payment obligations of such Person under such Swap Agreement, or the payment obligations of such guarantor of the payment obligations of such Person under such Swap Agreement, are on a parity with the long-term senior debt obligations of such Person or guarantor, as applicable, or (b) if such Swap Agreement is entered into with respect to Subordinate Obligation of a District (i) is a Person that is a bank or other financial institution, (ii) the senior long-term obligations of which, or the obligations of which are guaranteed by a bank or other financial institution, the long-term obligations of which, are rated “A,” or the equivalent thereof, or better by a Nationally Recognized Rating Agency, such ratings to be determined without regard to any subcategory or modifier, and (iii) the payment obligations of such Person under such Swap Agreement, or the payment obligations of such guarantor of the payment obligations of such Person under such Swap Agreement, are on a parity with the long-term senior debt obligations of such Person or guarantor, as applicable.
Sample 1
Qualified Swap Counterparty means a party that is a recognized dealer in interest rate swaps, organized under the laws of the United States or a jurisdiction located therein (or another jurisdiction reasonably acceptable to the Issuer and each Rating Agency), that with respect to itself or its Credit Support Provider: (a) at the time it becomes a Swap Counterparty has a short-term rating of at least "A-1" by S&P (for so long as any Class A Notes, Class B Notes or Class C Notes are deemed Outstanding hereunder and are rated by S&P) and "F-1" by Fitch (for so long as any Class A Notes, Class B Notes or Class C Notes are deemed Outstanding hereunder and are rated by Fitch) and either a long-term senior unsecured debt rating of at least "Aa3" by Xxxxx'x (if such Person does not have a "P-1" short-term debt rating by Xxxxx'x) or a long-term senior unsecured debt rating of "A1" by Xxxxx'x (only if the short-term debt of such Person is rated "P-1" by Xxxxx'x) (for so long as any Class A Notes, Class B Notes or Class C Notes are deemed Outstanding hereunder and are rated by Xxxxx'x) and thereafter maintains a short-term rating of at least "A-1" by S&P (for so long as any Class A Notes, Class B Notes or Class C Notes are deemed Outstanding hereunder and are rated by S&P) and "F-2" by Fitch (for so long as any Class A Notes, Class B Notes or Class C Notes are deemed Outstanding hereunder and are rated by Fitch) and either a long-term senior unsecured debt rating of at least "A1" by Xxxxx'x (if such Person does not have a "P-1" short-term debt rating by Xxxxx'x) or a long-term senior unsecured debt rating of at least "A2" by Xxxxx'x (only if the short-term debt of such Person is rated "P-1" by Xxxxx'x) (for so long as any Class A Notes, Class B Notes or Class C Notes are deemed Outstanding hereunder and by Xxxxx'x); (b) legally and effectively accepts the rights and obligations under the applicable Swap, or, as the case may be, alternate credit support arrangements pursuant to a written agreement reasonably acceptable to the Issuer and (c) in connection with a Substitute Swap Counterparty, otherwise satisfies the Rating Agency Condition.
Sample 1
Qualified Swap Counterparty means a counterparty to a Specified Swap Agreement (other than the Administrative Agent, a Joint Lead Arranger, a Lender or an Affiliate thereof) that is designated as a “Qualified Swap Counterparty” by the Borrower in writing to the Administrative Agent which agrees in a letter delivered to the Administrative Agent in form and substance reasonably satisfactory to the Administrative Agent, to indemnify the Administrative Agent, the Collateral Agent and Affiliates thereof as contemplated by Section 12.6 and in a manner reasonably acceptable to the Administrative Agent with respect to any action taken by it in respect of the Collateral or any breach by it of any Loan Document and, with respect to all other matters covered by Section 12.6 which relate to the Collateral, agrees to undertake a portion of the liability of the Lenders thereunder (without relieving the Lenders of their obligations) determined based on net termination liability (if any) of Holdings, the Borrower or any of their Restricted Subsidiaries to the Qualified Swap Counterparty under the applicable Specified Swap Agreement; provided that each Qualified Swap Counterparty is hereby deemed to (i) appoint the Administrative Agent as its agent under the Loan Documents, and (ii) agrees to be bound by the provisions of this Agreement and the other Loan Documents (including the Amendment No. 3 Effective Date Intercreditor Agreement).
Sample 1
Qualified Swap Counterparty means (a) any of the Agent, the Collateral Agent, a Lender or any Affiliate of any of the foregoing, (b) any other Person with a rating on its unsecured, long-term debt of BBB or better from Standard & Poor's Corporation and Baa2 or better from Xxxxx'x, Investor Service, Inc. or the obligations of which are fully and unconditionally guaranteed by a Person with such ratings in an instrument reasonably acceptable in form and substance to the Agent or (c) Eaglwing Trading LP, in the case of Hedging Agreements relating to oil only, but only if either party's total xxxx-to-market exposure under all Hedging Agreements permitted by this subclause (c) is, at any one time, no greater than $5.0 million.
Sample 1
Qualified Swap Counterparty means (a) any of the Agent, the Collateral Agent, a Lender or any Affiliate of any of the foregoing, or (b) any other Person with a rating on its unsecured, long-term debt of BBB or better from Standard & Poor's and Baa2 or better from Moody's.
Sample 1
Qualified Swap Counterparty means a major financial institution or leading dealer in the relevant trading market (i) domiciled either (x) in the United States or (y) in the United Kingdom or a state of the European Union with branches or offices in the United States and (ii) meeting (or having a guarantor that meets) the Required Ratings as of the date a swap is entered into.
Sample 1

Related to Qualified Swap Counterparty

  • Eligible Swap Counterparty means an entity, which may be an affiliate of a remarketing agent, engaged in the business of entering into derivative instrument contracts that satisfies the Rating Agency Condition.

  • Swap Counterparty means Lender or an Affiliate of Lender, in its capacity as counterparty under any Swap Contract.

  • Hedge Counterparty means a Lender, the Administrative Agent or any of the Lender’s or the Administrative Agent’s affiliates (at the time a hedging agreement is entered into) who has entered into a hedging agreement for the purpose of hedging interest rate liabilities and/or any exchange rate and/or commodity price risks provided it has become a party, or by execution of an additional bank secured party acknowledgment has agreed to be bound by the terms of, to the First Lien Intercreditor Agreement in its capacity as hedge counterparty.

  • Secured Swap Provider means (i) a Lender or an Affiliate of a Lender (or a Person who was a Lender or an Affiliate of a Lender at the time of execution and delivery of a Rate Contract) who has entered into a Secured Rate Contract with Borrower, or (ii) a Person with whom Borrower has entered into a Secured Rate Contract provided or arranged by GE Capital or an Affiliate of GE Capital, and any assignee thereof.

  • Swap Provider The swap provider under the Swap Agreement either (a) entitled to receive payments from the Supplemental Interest Trust or (b) required to make payments to the Supplemental Interest Trust, in either case pursuant to the terms of the Swap Agreement, and any successor in interest or assign. Initially, the Swap Provider shall be Deutsche Bank AG New York Branch.

  • Specified Swap Agreement any Swap Agreement entered into by the Borrower and any Qualified Counterparty (or any Person who was a Qualified Counterparty as of the Closing Date or as of the date such Swap Agreement was entered into) in respect of interest rates to the extent permitted under Section 7.13.

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.

  • Fixed Swap Payment With respect to any Distribution Date, a fixed amount equal to the related amount set forth in the Interest Rate Swap Agreement.

  • Derivative Counterparty means any party to any Derivative Agreement other than the Issuer or the Indenture Trustee.

  • Secured Swap Agreement means a Swap Agreement between (x) any Loan Party and (y) a Secured Swap Provider.

  • Eligible Counterparty means an “Eligible Counterparty” for the purposes of the Law.

  • Floating Swap Payment With respect to any Distribution Date on or prior to the Distribution Date in January 2010, an amount equal to the product of (x) Swap LIBOR, (y) the Swap Agreement Notional Balance for that Distribution Date and (z) a fraction, the numerator of which is equal to the number of days in the related calculation period as provided in the Swap Agreement and the denominator of which is 360.

  • Cap Counterparty Not applicable.

  • Hedging Counterparty means HSBC Bank plc or any Affiliate of HSBC Bank plc or any other party

  • Interest Rate Swap Agreement means the agreement(s) (including any further replacement agreements) entered into between the Guarantor LP and the Interest Rate Swap Provider(s) in the form of an ISDA Master Agreement, as the same may be amended, varied, supplemented, restated or extended from time to time, including a schedule and confirmations in relation to each Tranche or Series of Covered Bonds;

  • Currency Swap Agreement means any currency swap agreement, including all schedules and confirmations thereto, entered into by the Issuer and the Currency Swap Counterparty, as the same may be amended, supplemented, renewed, extended or replaced from time to time.

  • Swap Agreement means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower or the Subsidiaries shall be a Swap Agreement.

  • Interest Swap and Hedging Obligation means any obligation of any Person pursuant to any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate exchange agreement, currency exchange agreement or any other agreement or arrangement designed to protect against fluctuations in interest rates or currency values, including, without limitation, any arrangement whereby, directly or indirectly, such Person is entitled to receive from time to time periodic payments calculated by applying either a fixed or floating rate of interest on a stated notional amount in exchange for periodic payments made by such Person calculated by applying a fixed or floating rate of interest on the same notional amount.

  • Net Swap Payment With respect to each Distribution Date, the net payment required to be made pursuant to the terms of the Swap Agreement by either the Swap Provider or the Swap Administrator, which net payment shall not take into account any Swap Termination Payment.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Class A Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Collateral Enhancement Obligation means any warrant or equity security, excluding Exchanged Equity Securities, but including without limitation, warrants relating to Mezzanine Obligations and any equity security received upon conversion or exchange of, or exercise of an option under, or otherwise in respect of a Collateral Debt Obligation; or any warrant or equity security purchased as part of a unit with a Collateral Debt Obligation (but in all cases, excluding, for the avoidance of doubt, the Collateral Debt Obligation), in each case, the acquisition of which will not result in the imposition of any present or future, actual or contingent liabilities or obligations on the Issuer other than those which may arise at its option; provided that no Collateral Enhancement Obligation may be a Dutch Ineligible Security.

  • Hedge Counterparty Ratings Requirement means (a) either (i) the unsecured, short-term debt obligations of the substitute counterparty (or its Credit Support Provider) are rated at least “A-1” by S&P or (ii) if the substitute counterparty does not have a short-term rating from S&P, the unsecured, long-term senior debt obligations of the substitute counterparty (or its Credit Support Provider) are rated at least “A+” by S&P, (b) either (i) the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “A1” by Moody’s (and if rated “A1” by Moody’s, such rating is not on watch for possible downgrade to below “A1”) and the unsecured, short-term debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “P-1” by Moody’s (and if rated “P-1” by Moody’s, such rating is not on watch for possible downgrade and remaining on watch for possible downgrade), or (ii) if such substitute counterparty (or its Credit Support Provider) does not have a short-term debt rating from Moody’s, the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “Aa3” by Moody’s (and if rated “Aa3” by Moody’s, such rating is not on watch for possible downgrade to below “Aa3”), and (c) either (i) the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “A” by Fitch or (ii) the unsecured, short-term debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “F1” by Fitch. For the purpose of this definition, no direct or indirect recourse against one or more shareholders of the substitute counterparty (or against any Person in control of, or controlled by, or under common control with, any such shareholder) shall be deemed to constitute a guarantee, security or support of the obligations of the substitute counterparty.

  • Acceptable Counterparty means any counterparty to the Interest Rate Cap Agreement that has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, a long-term unsecured debt rating of at least “A+” by S&P and “Aa3” from Xxxxx’x, which rating shall not include a “t” or otherwise reflect a termination risk and is otherwise reasonably acceptable to Lender.

  • Swap Agreement Obligations means any and all obligations of the Loan Parties and their Subsidiaries, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (a) any Swap Agreement permitted hereunder with a Lender or an Affiliate of a Lender, and (b) any cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement transaction permitted hereunder with a Lender or an Affiliate of a Lender.