Swap definition
Examples of Swap in a sentence
Notwithstanding anything contained in this Section 5.5.1, no amount received from any Guarantor shall be applied to any Excluded Swap Obligation of such Guarantor.
Each Guarantor agrees that it is jointly and severally liable for, and absolutely and unconditionally guarantees to the Agent and the other Secured Parties (as primary obligor, and not merely as a surety) the prompt payment and performance of, all Secured Obligations and all agreements of each Loan Party under the Credit Documents; provided, that a Guarantor shall not have any liability with respect to, or guarantee, any Excluded Swap Obligations of such Guarantor.
Notwithstanding the forgoing, if the Borrowing is subject to a Swap Contract, in whole or in part, it is expressly understood by Borrower that such a prepayment may cause breakage, termination or like fees to be due under the terms of the Swap Contract.