Subordinated Termination Payment means any termination payments due and payable to any Hedging Counterparty under a Hedging Agreement where such termination results from (a) an Additional Termination Event “Ratings Event” as specified in the schedule to the relevant Hedging Agreement, (b) bankruptcy of the relevant Hedging Counterparty, or (c) any default and/or failure to perform by such Hedging Counterparty under the relevant Hedging Agreement, other than, in the event of (a) or (c) above, other than the amount of any termination payment due and payable to such Hedging Counterparty in relation to the termination of such transaction to the extent of any premium received by the Issuer from a replacement hedging counterparty.Following the occurrence of a Cover Pool Event of Default and the delivery of a Notice of Default all funds deriving from the Cover Pool Assets and the Transaction Documents, standing to the credit of the Transaction Accountshall be applied on any Athens Business Day in accordance with the following order of priority of payments (the “Post-Cover Pool Event of Default Priority of Payments” and, together with the Post Issuer Event Priority of Payments, the “Priorities of Payments” and, each of them a “Priority of Payments”) (in each case only if and to the extent that payments of a higher priority have been made in full) provided that any such amount has not been paid by the Issuer using funds not forming part of the Cover Pool:
Subordinated Termination Payment means, any of the Subordinated Swap Termination Payment, the Subordinated FX Swap Termination Payment or the Subordinated Contingent Forward Termination Payment. For the avoidance of doubt, if a Non Priority Termination Event occurs with respect to any Counterparty, the amounts payable by the Issuer to all Counterparties under the Related Agreements pursuant to Section 6(e) of each Master Agreement shall constitute Subordinated Termination Payments.
Subordinated Termination Payment means any termination payment required to be made by the Issuer to the Hedge Counterparty pursuant to a Hedge in the event of a termination of such Hedge in respect of which such Hedge Counterparty is the “defaulting party” or sole “affected party” (each as defined in the applicable Hedge).
Examples of Subordinated Termination Payment in a sentence
In addition, the funds or securities standing to the credit of a Swap Collateral Account may be liquidated to fund the relevant Senior Swap Subordinated Termination Payment or any part thereof in accordance with the Swap Collateral Accounts Priorities of Payments.
Subordinated Termination Payment means any break costs due from the Trustee under a Hedge Agreement following a Hedge Provider Event of Default.
More Definitions of Subordinated Termination Payment
Subordinated Termination Payment means, subject as set out below, any termination payments due and payable to any Hedging Counterparty under a Hedging Agreement where such termination results from (a) an Additional Termination Event in respect of the relevant Hedging Counterparty pursuant to the ratings downgrade provisions as specified in the schedule to the relevant Hedging Agreement or (b) an event of default in respect of which the Hedging Counterparty is the defaulting party pursuant to the terms of the relevant Hedging Agreement.
Subordinated Termination Payment means any Subordinated Swap Termination Amount or, if applicable, any Subordinated Contingent Forward Termination Amount. For the avoidance of doubt, if a Non Priority Termination Event occurs with respect to the Swap Counterparty or the Contingent Forward Counterparty, the amounts payable by the Issuer to the Swap Counterparty and/or the Contingent Forward Counterparty under the Related Agreement pursuant to Section 6(e) of each ISDA Master Agreement shall constitute Subordinated Termination Payments.
Subordinated Termination Payment means, subject as set out below, any termination payments due and payable to any Hedging Counterparty under a Hedging Agreement where such termination results from (a) an Additional Termination Event (Ratings Event) as defined in the relevant Hedging Agreement where the relevant Hedging Counterparty is the Affected Party (as defined in the relevant Hedging Agreement), (b) bankruptcy of the relevant Hedging Counterparty, or (c) any default and/or failure to perform by such Hedging Counterparty under the relevant Hedging Agreement, other than, in the event of (a) or (c) above, the amount of any termination payment due and payable to such Hedging Counterparty in relation to the termination of such Hedging Agreement to the extent of any premium received (net of any cost incurred by the Issuer to find a replacement hedging counterparty) by the Issuer from a replacement Post Event Priority of Paymentshedging counterparty in consideration for entering into a hedging agreement with the Issuer on the same terms as the Hedging Agreement.At any time following delivery of a Trigger Notice (without prejudice to the proviso below concerning the possibility for the Representative of the Noteholders to accumulate funds up to a certain amount) or, in the event that the Notes are to be redeemed early in accordance with Condition 8.3 (Redemption for Taxation or Legal Reasons) or Condition 8.4 (Redemption upon exercise of clean-up call), on the Payment Date on which the Notes are to be redeemed early, all Issuer Available Funds will be applied by or on behalf of the Representative of the Noteholders (and following payment on such date of any amount then due or overdue to either Hedging Counterparty under any credit support annex entered into thereby with the Issuer, if any, to the extent not met by payments from any cash collateral account opened by the Issuer or by the release of securities from any securities collateral account opened by the Issuer in connection therewith) in the following order (the "Post Event Priority of Payments" and, together with the Pre Event Priority of Payments, the "Priorities of Payments") but, in each case, only if and to the extent that payments of a higher priority have been made in full:
Subordinated 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, in either case, the portion thereof representing any Unpaid Amount) as a result of the occurrence 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.
Subordinated Termination Payment means, subject as set out below, any termination payments due and payable to any Hedging Counterparty under a Hedging Agreement where such termination results from (a) an Additional Termination Event (Ratings Event) as specified in the schedule to the relevant Hedging Agreement, (b) bankruptcy of the relevant Hedging Counterparty, or (c) the occurrence of an Event of Default (as defined in the relevant Hedging Agreement) in relation to which the relevant Hedging Counterparty is the Defaulting Party (as defined in the relevant Hedging Agreement), other than, in the event of (a) or (c) above, the amount of any termination payment due and payable to such Hedging Counterparty in relation to the termination of such transaction to the extent of any premium received by the Issuer from a replacement hedging counterparty.During an Interest Period the Cash Manager will be entitled:
Subordinated Termination Payment means, subject as set out below, any termination payments due and payable to any Hedging Counterparty under a Hedging Agreement or Additional Hedging Agreement where such termination results from (a) an Additional Termination Event (Ratings Event) as specified in the schedule to the relevant Hedging Agreement or Additional Hedging Agreement, (b) bankruptcy of the relevant Hedging Counterparty, or (c) any default and/or failure to perform by such Hedging Counterparty under the relevant Hedging Agreement or Additional Hedging Agreement, otherthan, in the event of (a) or (c) above, the amount of any termination payment due and payable to such Hedging Counterparty in relation to the termination of such transaction to the extent of any premium received by the Issuer from a replacement hedging counterparty. Priority of Payments following the delivery of a Trigger Notice:Following delivery of a Trigger Notice (without prejudice to the ability of the Representative of the Noteholders to accumulate funds up to a certain amount in certain circumstances as set out in the proviso below), the Issuer Available Funds shall be applied on any Business Day in accordance with the following order of priority of payments (the "Post Event Priority of Payments") (in each case only if and to the extent that payments of a higher priority have been made in full):
Subordinated Termination Payment means, with respect to an Interest Rate Agreement, any early termination payment owed to the Lender Counterparty in connection with an event of default or termination event where the Lender Counterparty was the “Defaulting Party” or sole “Affected Party” (as such terms are defined in such Interest Rate Agreement).