Swap Default definition

Swap Default. Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

Swap Default. The effective designation of an Early Termination Date in respect of the Swap Agreement following the occurrence of a Swap Event of Default, a Termination Event with respect to the Swap Agreement or an Additional Termination Event with respect to the Swap Agreement.

Swap Default. An Event of Default under the Interest Rate Swap Agreement.

Examples of Swap Default in a sentence

• The waiver by the Lenders and MUFG LTD described above is contingent upon the satisfaction of the conditions precedent set forth below and is limited to the Existing Defaults and the Swap Default, as applicable.

• The waiver set forth in this Section 3(a) is temporary in nature and the Existing Defaults and the Swap Default shall, unless otherwise agreed to in writing by the Requisite Lenders and MUFG LTD, respectively, be immediately and automatically reinstated on the Waiver Termination Date and shall constitute an “Event of Default” under the Credit Agreement and the other Loan Documents and the Swap Contracts.

• This waiver is limited to the extent described herein and shall not be construed to be a consent to or a permanent waiver of the Existing Defaults, the Swap Default or any other terms, provisions, covenants, warranties or agreements contained in the Credit Agreement or in any of the other Loan Documents or a waiver of any Default or Event of Default that may hereafter occur.

More Definitions of Swap Default

Swap Default. Any failure on the part of the Swap Counterparty to (i) make a required payment under the Swap Contract or (ii) either post acceptable collateral or find an acceptable replacement Swap Counterparty after a Rating Agency Trigger Event has occurred as required by Part 1, paragraph (k) of the Schedule to the Master Agreement in the Swap Contract.

Swap Default. The occurrence of an "Event of Default" (as defined in the Swap Agreement) under the Swap Agreement.

Swap Default. Such events of default under, and as set forth in, the Swap Agreement.

Swap Default means, with respect to each Class of Swap Floating Rate Certificates, the occurrence of any one or more of the following events or circumstances with respect to the Swap Corresponding Agreement: (i) the Swap Counterparty fails to make a payment to the Trust required under the Swap Corresponding Agreement (which failure continues unremedied for one Business Day following notice), (ii) the exercise of the related Swap Counterparty’s option to terminate such Swap Corresponding Agreement following a Swap Net Payment Shortfall under such Swap Corresponding Agreement, or (iii) the occurrence of any early termination date as designated under such Swap Corresponding Agreement.

Swap Default. An Event of Default under the Group I Swap Agreement.

Swap Default. The occurrence of an “Event of Default” (as defined in the Swap Agreement) under the Swap Agreement.

Swap Default. Under the Swap Agreement (each a Swap Default), among others, the following standard events of default under the ISDA Master Agreement: · Failure to Pay or Deliver, ·