Substitution Payment definition

Substitution Payment means an amount calculated by the Calculation Agent in its sole and absolute discretion and in a commercially reasonable manner equal to an amount by which the value of the Notes would change if the Replaced Reference Entity was removed and replaced by the Replacement Reference Entity or the Reference Entity Notional Amount in respect of which the Replaced Reference Entity or Replacement Reference Entity was reduced or increased, as the case may be, based on, inter alia, the aggregate Loss Amount (as defined in the Credit Swap Confirmation), the Bid Spread of the Replacement Reference Entity, the Offer Spread of the Replaced Reference Entity, market correlation, credit spreads, the remaining time to maturity, prevailing interest rates and/or other relevant market rates.
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Substitution Payment means, in respect of each Substitution for which the Substitution Consequence is Substitution Payment, an amount in GBP determined by the Swap Counterparty in good faith and in a commercially reasonable manner equal to the relevant Substitution Gain or Substitution Loss, as applicable.
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Substitution Payment means, in respect of each Substitution, an amount determined by the Calculation Agent in good faith and in a reasonably commercial manner in EUR, which may be positive or negative, so that the resulting Substitution Payment is equal to the EUR equivalent of the sum of (A) and (B) where:
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Examples of Substitution Payment in a sentence

  • Notwithstanding any such claim, the Developer shall be paid the relevant extent of Substitution Payment and Termination Payment strictly in terms of the Agreement and the decision of Authority in respect of such payments shall be final and binding on the Developer.

  • Such determinations may give rise to the payment of a Substitution Payment (as defined in the Portfolio CDS).

  • Working Principles of the Corporate Governance CommitteeScope and ObjectiveThe Corporate Governance Committee, which was formed under the framework of the Capital Markets legislation, is continuing its activities under the auspices of the Board of Directors.

  • Provided that the foregoing shall be without prejudice to the ability of the Developer to Dispute the extent of Termination Payment and/ or Substitution Payment payable to the Developer consequent to any such termination.

  • Following a Substitution, if the Portfolio Manager has elected that the Trading Reserve Account Payment Method shall apply (and it is not deemed otherwise to apply in accordance with the Portfolio Management Agreement) an amount equal to the Substitution Payment (which may be positive or negative) will be added to the Trading Reserve Account Balance.

  • In the event that a Substitution Gain (or, as the case may be, a Net Substitution Gain) is calculated by the Swap Counterparty, then the Additional Reserve Account Balance shall be increased by an amount equal to the Substitution Payment.

  • If the Initial Owner (or the Initial Owner’s Agent acting on its behalf) specified Substitution Payment in the Substitution Request, in the event that a Substitution Loss (or, as the case may be, a Net Substitution Loss) is calculated by the Swap Counterparty, then the Additional Reserve Account Balance shall be reduced by an amount equal to the Substitution Payment.

  • As of the time of this filing, the parties make the full amount of the Guaranty Substitution Payment to NSCC or notify NSCC that it will not make the Guaranty Substitution Payment.

  • With more than 40,000 members and e-activists, Guardians’ mission is to protect and restore the wildlife, wild places, and wild rivers of the American West.

  • If, because of the application of this paragraph, the payment of an amount under this Agreement and this Appendix B must be delayed, the Company will delay payment of the minimum amount necessary to satisfy this paragraph first from the 401(k) and Excess Benefit Plan Substitution Payment and second from the Lump Sum payment.


More Definitions of Substitution Payment

Substitution Payment means in respect of each Substitution, an amount in EUR (which may be positive or negative) determined by the Counterparty in good faith and in a commercially reasonable manner, in each case as at the relevant Substitution Date so that the resulting Substitution Payment is equal to the EUR equivalent of (a) (i) the net aggregate value of the protection bought by the Counterparty under the Portfolio Commodity Swap following such Substitution less(ii) the net aggregate value of the protection bought by the Counterparty under the Portfolio Commodity Swap prior to such Substitution (the “Protection Value”) minus (b) the Hedging Costs in respect of such Substitution. The Substitution Payment shall be calculated by reference to current market conditions, including forward prices and implied volatilities of each Commodity and the correlation between each CTS.
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Substitution Payment means, in respect of a Substitution Request and related Portal Spread, an amount generated by the GS Institutional Web Portal Calculator in respect of such Substitution Request and related Portal Spread, or if the GS Institutional Web Portal Calculator is not operational, as determined by Buyer in good faith and a commercially reasonable manner.
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Substitution Payment means, with respect to a Replaced Property, the sum of (i) the Property Percentage with respect to such Replacement Property multiplied by the aggregate outstanding principal amount of the Senior Notes (as defined below), plus (ii) an amount equal to the accrued interest through the substitution date on the amount referred to in clause (i), plus (iii) the Make-Whole Amount with respect to the amount referred to in clause (i). The Make-Whole Amount with respect to the Property Amount shall be equal to the sum of the Make-Whole Amounts payable pursuant to the Indenture dated as of September 1, 1996 among Landlord, CTCC and First Trust National Association, as indenture trustee (the "Indenture Trustee") with respect to the Senior Notes (as defined therein) to be prepaid pursuant to Section 2.3(c) thereof upon the receipt by the Indenture Trustee of the Property Amount. EXHIBIT E Lease Guaranty (see attached) EXHIBIT F Additional Option Term Rent Property Base Rent -------- --------- Brookings, OR $ 712,119.58 Federal Way, WA 1,186,569.04 Boise, ID 866,861.51 Lake City, WA 1,255,298.00 So. Medford, OR 854,202.89 North Coast, OR 807,626.07 Newburg, OR 711,308.22 Orchards, WA 944,272.65 Tillamook, OR 760,237.89 Yakima, WA 827,344.14 ------------- $ 8,925,840.00 GUARANTY -------- THIS GUARANTY (the "Guaranty") is attached to and made a part of that certain Bond Lease Agreement (the "Lease") dated September 5, 1996, between Texas Commerce Bank National Association, not in its individual capacity but solely in its capacity as Trustee under that certain Trust Agreement dated as of September 1, 1996 between Texas Commerce Bank National Association, as Trustee and Chemical Trust Company of California, a California Banking Corporation, as Beneficiary, as Landlord, and Xxxx Xxxxx, Inc., a Delaware corporation ("FMI") and Roundup Co., a Washington corporation ("RC"), as Tenant, covering the Properties. The terms used in this Guaranty shall have the same definitions as set forth in the Lease. In order to induce Landlord to enter into the Lease with Tenant, Xxxx Xxxxx, Inc. ("Guarantor") has agreed to and does hereby execute and deliver this Guaranty to Landlord. Guarantor acknowledges that Landlord would not enter into the Lease if Guarantor did not execute and deliver this Guaranty to Landlord.
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Related to Substitution Payment

  • Production Payment means a production payment obligation (whether volumetric or dollar denominated) of the Borrower or any of its Restricted Subsidiaries which are payable from a specified share of proceeds received from production from specified Oil and Gas Properties, together with all undertakings and obligations in connection therewith.

  • Delayed contribution payment means an amount paid by an employee for purchase of current service. The amount shall be determined using the same formula in KRS 61.5525, and the payment shall not be picked up by the employer. A delayed contribution payment shall be deposited to the member's account and considered as accumulated contributions of the individual member. In determining payments under this subsection, the formula found in this subsection shall prevail over the one found in KRS 212.434;

  • Monthly Payment Amount means, with respect to each Payment Date, a payment equal to the amount of interest which has accrued during the related Interest Accrual Period, computed at the Interest Rate.

  • Distribution Payment Date has the meaning set forth in paragraph 2(b) of Annex I.

  • Payment Amount has the meaning specified in Section 6.1.

  • Monthly Excess Interest Amount With respect to each Distribution Date, the amount, if any, by which the Interest Funds for such Distribution Date exceeds the aggregate amount distributed on such Distribution Date pursuant to Section 4.04(b) (other than the last clause thereof).

  • Completion Payment means the payment for the 20% of the Charges for each Apprenticeship that under the ESFA Rules is only paid once an Apprentice takes their end point assessment, including as the case may be Apprenticeships funded by Transferred Levy Funds;

  • Termination Payment means the payment amount equal to the sum of (a) and (b), where (a) is the Settlement Amount and (b) is the sum of all amounts owed by the Defaulting Party to the Non-Defaulting Party under this Agreement, less any amounts owed by the Non-Defaulting Party to the Defaulting Party determined as of the Early Termination Date.

  • Special Payment Means any payment (other than a Scheduled Payment) in respect of, or any proceeds of, any Equipment Note or Collateral (as defined in each Indenture).

  • Down payment means all partial payments, whether made in cash or otherwise, received by or for the benefit of the seller before or substantially contemporaneous with either the execution of the installment sale contract or the delivery of the motor vehicle sold under that contract, whichever occurs later.

  • Principal Payment Amount For any Distribution Date, the sum of (i) the scheduled principal payments (if any) on the Mortgage Loans due on the related Due Date, (ii) the principal portion of proceeds received with respect to any Mortgage Loan which was purchased or repurchased pursuant to a Purchase Obligation or as permitted by this Agreement during the Prior Period and (iii) any other unscheduled payments of principal which were received with respect to any Mortgage Loan during the Prior Period, other than Payoffs, Curtailments, Liquidation Principal and Subsequent Recoveries.

  • Delta Payment means as it is described in this Agreement.

  • Exception Payments means payments to deposit accounts or brokerage accounts, payments to settle securities transactions (including, without limitation, stocks, bonds, securities, futures (forex), options, or an investment interest in any entity or property).

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Initial Monthly Payment Fund An amount representing scheduled principal amortization and interest at the Net Mortgage Rate for the Due Date in the first Due Period commencing subsequent to the Cut-off Date for those Mortgage Loans for which the Trustee will not be entitled to receive such payment, and as more specifically defined in the Series Supplement.

  • Trust Reimbursement Amount As defined in Section 3.06A(a) of this Agreement.

  • Principal Payment Any payment of principal on a Mortgage Loan other than a Principal Prepayment.

  • Initial Payment means the dollar amount specified as the “Initial Payment” in the applicable Purchase Agreement.

  • Monthly Excess Interest As to any Distribution Date, the sum of (A) the Interest Remittance Amount remaining after the application of payments pursuant to clauses A. through F. of Section 4.02(b)(i) plus (B) the Principal Payment Amount remaining after the application of payments pursuant to clauses A. through E. of Section 4.02(b)(ii) or (iii).

  • Supplemental Payment means any payments or transfers of things of value made to the District or to any person or persons in any form if such payment or transfer of thing of value being provided is in recognition of, anticipation of, or consideration for the Agreement and that is not authorized pursuant to Sections 313.027(f)(1) or (2) of the TEXAS TAX CODE, and specifically includes any payments required pursuant to Article VI of this Agreement.

  • PAGA Payment means the penalties pursuant to PAGA that the Parties have agreed is a

  • Maximum Contribution Amount shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Company’s and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 8(d) are joint and several. The indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties.

  • Termination Payments means any payment or distribution of Compensation or benefits made pursuant to Section 4.1(a)-(c) of this Agreement.

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

  • Series A Distribution Payment Date has the meaning assigned to such term in Section 5.11(b)(i)(A).

  • Remittance Amount means the funds denominated in Singapore Dollars or United Stated Dollars which is to be debited from the Customer's Account(s) and converted into the specified Foreign Amount.