Replacement Counterparty definition

Replacement Counterparty has the meaning set forth in Section 9(a) of this Supplement.]
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Replacement Counterparty means, in connection with a Counterparty Replacement Event, either:
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Replacement Counterparty has the meaning set forth in Section 3.03.
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Examples of Replacement Counterparty in a sentence

  • For the purposes of Condition 3(b) the Replacement Counterparty is UBS Limited or its successors from time to time.

  • The Replacement Counterparty in respect of the Counterparty and the Swap Agreement is UBS Limited.

  • The Indenture Trustee will make the reports referred to above (and, at its option, any additional files containing the same information in an alternative format) available each month to Noteholders, the Insurer, the Sponsor, the Servicer and the Credit Risk Manager via the Indenture Trustee’s internet website, which is presently located at http://www.usbank.com/abs.

  • Within 15 Business Days of the Replacement Counterparty Selection Date, each of the Issuer, the Trustee, the Principal Paying Agent, the Custodian and each other Agent shall be required, subject to completion of any necessary "know-your-customer" or equivalent checks being satisfactorily completed, to execute a Counterparty Replacement Agreement with such Replacement Counterparty.

  • The appointment of any Replacement Counterparty pursuant to these Additional Conditions shall be subject to such Replacement Counterparty satisfying the Replacement Counterparty Eligibility Criteria, including the Issuer, the Trustee and each Agent completing satisfactorily any necessary 'know-your-customer' or equivalent checks.

  • If 'Noteholder Representative Last Look Right' is not specified as applicable in the Counterparty Replacement Notice, then the party that has quoted the lowest Total Replacement Price in the Counterparty Auction will be deemed to have been selected as the Replacement Counterparty.

  • The Replacement Swap Price, Collateral Replacement Price and Total Replacement Price quoted by the party selected as the Replacement Counterparty shall be deemed to be the Replacement Swap Price, Collateral Replacement Price and Total Replacement Price respectively for the purposes of the remainder of this Additional Condition 8.

  • In any case, if there is more than one available Qualified Replacement Counterparty or Approved Replacement Counterparty, as applicable, with the same credit rating, the Swap Agent shall select that prospective Qualified Replacement Counterparty or Approved Replacement Counterparty, as applicable, offering the terms with the lowest overall cost to the Issuer.

  • The Replacement Counterparty in respect of the Securities Lending Counterparty and the Securities Lending Agreement is UBS AG.

  • During such 30 day period, the Swap Agent shall be required to identify a Qualified Replacement Counterparty, or if a Qualified Replacement Counterparty cannot be found, the Swap Agent shall be required to identify the highest rated Replacement Counterparty available that is approved by the Holders of at least 66 2/3% of the Outstanding Amount of the [Floating Rate Tranche] (an "Approved Replacement Counterparty").


More Definitions of Replacement Counterparty

Replacement Counterparty means a replacement for Party X selected as provided in this Clause (c). "Required Rating" means Aa3 in the case of Xxxxx'x Investors Service, Inc. ("Moody's") and either AA or A-l+ in the case of Standard & Poor's Ratings Group ("Standard & Poor's"). "Required Rating Agencies" means both Moody's and Standard & Poor's.
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Replacement Counterparty means a Transferee that at the time of such transfer satisfies the Counterparty Ratings Requirement; provided, that such assignment or transfer satisfies the Rating Agency Condition. For the avoidance of doubt, the Swap Counterparty shall make such transfer at its sole cost.
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Replacement Counterparty has the meaning specified in the Certificate Indenture.
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Replacement Counterparty means any person, other than the Original Counterparty, that becomes a counterparty to Hedging Arrangements instead of the Original Counterparty.
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Replacement Counterparty means a replacement for Party A selected as provided in this clause (c). "Required Rating" means a long- term senior unsecured debt rating of at least (x) Aa3 in the case of Xxxxx'x Investors Service, Inc. ("Xxxxx'x"), (y) either at least A+ or (for short-term obligations) A-1 in the case of Standard & Poor's Ratings Group ("Standard & Poor's") and (z) if a counterparty is rated by Fitch, Inc. ("Fitch"), either at least A+ or (for short-term obligations) F1. "Required Rating Agencies" means Moody's, Standard & Poor's and, for so long as Party A is rated by Fitch, Fitch.
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Replacement Counterparty shall have the meaning specified in the Contingent Assignment Agreement.
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Related to Replacement 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.

  • Replacement Provider has the meaning set forth in Section II.D.1.

  • Counterparty means PJMSettlement as the contracting party, in its name and own right and not as an agent, to an agreement or transaction with a Market Participant or other entities, including the agreements and transactions with customers regarding transmission service and other transactions under the PJM Tariff and the Operating Agreement. PJMSettlement shall not be a counterparty to (i) any bilateral transactions between Members, or (ii) any Member’s self- supply of energy to serve its load, or (iii) any Member’s self-schedule of energy reported to the Office of the Interconnection to the extent that energy serves that Member’s own load.

  • 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.

  • Eligible Counterparty means any bank or financial institution (which for these purposes shall include any leading dealer or broker in commodity and commodity index swap transactions) incorporated, domiciled and regulated in an OECD country with a rating equal to the Eligible Counterparty Threshold Rating or higher (or the equivalent rating from any other Rating Agency) or having the benefit of an enforceable guarantee from an Affiliate with a rating equal to the Eligible Counterparty Threshold Rating or higher (or the equivalent rating from any other Rating Agency).

  • Counterparty Downgrade Collateral means any cash and/or securities delivered to the Issuer as collateral for the obligations of a Hedge Counterparty under a Hedge Transaction.

  • Approved Counterparty means (a) any Lender or any Affiliate of a Lender and (b) any other Person whose long term senior unsecured debt rating is A-/A3 by S&P or Xxxxx’x (or their equivalent) or higher.

  • Notice of Replacement Subordination Agent has the meaning specified in Section 3.08.

  • 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.

  • Swap Provider means any Person that, at the time it enters into a Swap Agreement is a Lender or an Affiliate of a Lender, in its capacity as a party to such Swap Agreement.

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

  • Hedging Agreement Provider means any Person that enters into a Secured Hedging Agreement with a Credit Party or any of its Subsidiaries that is permitted by Section 6.1(d) to the extent such Person is a Lender, an Affiliate of a Lender or any other Person that was a Lender (or an Affiliate of a Lender) at the time it entered into the Secured Hedging Agreement but has ceased to be a Lender (or whose Affiliate has ceased to be a Lender) under the Credit Agreement.

  • 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.

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

  • Lender Counterparty means each Lender or any Affiliate of a Lender counterparty to a Hedge Agreement (including any Person who is a Lender (and any Affiliate thereof) as of the Closing Date but subsequently, whether before or after entering into a Hedge Agreement, ceases to be a Lender) including, without limitation, each such Affiliate that enters into a joinder agreement with Collateral Agent.

  • Viatical settlement provider means a person, other than a viator, who enters into or effectuates a viatical settlement contract. Viatical settlement provider does not include:

  • 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.

  • Cap Provider means the third-party financial institution approved by Lender that is the counterparty under any Cap Agreement or Replacement Cap Agreement.

  • Qualified Counterparty with respect to any Specified Hedge Agreement, any counterparty thereto that, at the time such Specified Hedge Agreement was entered into, was a Lender or an affiliate of a Lender.

  • Replacement Lender shall have the meaning provided in Section 2.13.

  • Companion Loan Rating Agency With respect to any Serviced Companion Loan, any rating agency that was engaged by a participant in the securitization of such Serviced Companion Loan to assign a rating to the related Serviced Companion Loan Securities.

  • Companion Loan Rating Agency Confirmation With respect to any matter involving the servicing and administration of a Serviced Companion Loan or any related REO Property as to which any Serviced Companion Loan Securities exist, confirmation in writing (which may be in electronic form) by each applicable Companion Loan Rating Agency that a proposed action, failure to act or other event so specified will not, in and of itself, result in the downgrade, withdrawal or qualification of the then-current rating assigned to any class of such Serviced Companion Loan Securities (if then rated by the Companion Loan Rating Agency); provided that upon receipt of a written waiver or other acknowledgment from the Companion Loan Rating Agency indicating its decision not to review or declining to review the matter for which the Companion Loan Rating Agency Confirmation is sought (such written notice, a “Companion Loan Rating Agency Declination”), or as otherwise provided in Section 3.30 of this Agreement, the requirement for the Companion Loan Rating Agency Confirmation from the applicable Companion Loan Rating Agency with respect to such matter shall not apply.

  • Liquidity Facility Provider means a Person that is a party to a Liquidity Facility with the Authority with respect to specified Bonds and whose credit rating by each nationally recognized Rating Agency then rating the Class I Bonds is sufficiently high to maintain the then current rating on such Bonds by such Rating Agency or the equivalent of such rating by virtue of guarantees or insurance arrangements.

  • Required Ratings Downgrade Event means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold.

  • Approved Ratings Threshold means each of the S&P Approved Ratings Threshold and the Moody’s First Trigger Ratings Threshold.

  • Reporting Counterparty means, for purposes of Part 45 of CFTC Regulations, the Participant or Authorized Trader that is designated as such pursuant to Rule 528(b).