Senior Swap Payment definition

Senior Swap Payment. The amount, if any, payable by the Issuing Entity to the Swap Provider, pursuant to Section 8.01(b)(i) of the Indenture, other than a Defaulted Swap Termination Payment.
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Senior Swap Payment means, on any Payment Date, a net payment to a Swap Provider by any Issuer Group Member, other than any Subordinated Swap Payment.
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Examples of Senior Swap Payment in a sentence

  • On any Payment Date when there shall be a Class C Senior Swap Payment, the Issuer shall pay such Class C Senior Swap Payment subject to the priority of payments set forth in Section 4.4(a)(v).

  • On any Payment Date when there shall be a Class A Senior Swap Payment, the Issuer shall pay such Class A Senior Swap Payment subject to the priority of payments set forth in Section 4.4(a)(iii).

  • On any Payment Date when there shall be a Class B Senior Swap Payment, the Issuer shall pay such Class B Senior Swap Payment subject to the priority of payments set forth in Section 4.4(a)(iv).

  • On any Payment Date when there shall be a Class A-1 Senior Swap Payment, the Issuer shall pay such Class A-1 Senior Swap Payment subject to the priority of payments set forth in Section 4.4(a)(iii).