Swap Exposure definition

Swap Exposure means, as at any relevant date, the amount certified by the Swap Bank to the Agent to be the aggregate net amount in Dollars which would be payable by the Borrower to the Swap Bank under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of the Master Agreement if an Early Termination Date had occurred on the relevant date in relation to all continuing Designated Transactions entered into between the Borrower and the Swap Bank;

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Swap Exposure means, as at any relevant date and in relation to a Swap Counterparty, the amount certified by the Swap Counterparty to the Agent to be the aggregate net amount in Dollars which would be payable by the Borrower to the Swap Counterparty under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of the Master Agreement entered into by the Swap Counterparty with the Borrower if an Early Termination Date had occurred on the relevant date in relation to all continuing Designated Transactions entered into between the Borrower and the Swap Counterparty;

Swap Exposure means, as at any relevant date the amount certified by the Swap Bank to be the aggregate net amount in Dollars which would be payable by the Borrowers to the Swap Bank under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of the Master Agreement if an Early Termination Date (as therein defined) had occurred on the relevant date in relation to all continuing Transactions (as therein defined) entered into between the Borrowers and the Swap Bank;

Examples of Swap Exposure in a sentence

For the purpose of recording this Mortgage as required by Chapter 3 of the Maritime Act, the total amount of the direct and contingent obligations secured by this Mortgage is $[●] (of which (a) U.S.$[●] is attributable to the Facilities and (b) U.S.$[●] is attributable to the Swap Exposure) together with interest, fees, commissions and performance of mortgage covenants.
Unless otherwise agreed in writing by the Bank, the amount in respect of which the Insurances should be effected shall be equal to at least the market value of the Vessel and shall at least be 120% of the amount of the Loan and the Swap Exposure.
No Guarantor will incur any Financial Indebtedness other than the Loan and the Swap Exposure.
If such certificate is furnished to the Agent, then the Pro-Forma Exposure applicable under Section 2.5(b)(i) shall be recalculated using such later calculation of Swap Exposure, and the amount of any such required prepayment or additional Eligible Collateral shall be adjusted accordingly.
The Security Agent shall be entitled from time to time to effect, maintain and renew a mortgagee’s interest marine insurance and a mortgagee’s interest additional perils insurance each in an amount equal to 120 per cent, of the aggregate of (i) the Loan and (ii) any Swap Exposure, on such terms, through such insurers and generally in such manner as the Security Agent acting on the instructions of the Majority Lenders may from time to time consider appropriate.

More Definitions of Swap Exposure

Swap Exposure means, as at any relevant date the aggregate net amount in Dollars which would be payable by the Borrowers to the Lender under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of the Master Agreement if an Early Termination Date had occurred on the relevant date in relation to all continuing Transactions entered into between the Borrowers and the Lender;

Swap Exposure means, at any relevant date, the amount certified by the Lender (whose certificate shall in the absence of manifest error be conclusive and binding on the Borrower and the Lender) to be the aggregate net amount in Dollars which would be payable by the Borrower to the Lender, under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of the Master Agreement if an Early Termination Date had occurred on the relevant date in relation to all continuing Designated Transactions entered into between the Borrower and the Lender;

Swap Exposure means, as at any relevant date and in relation to a Swap Bank, the amount certified by the Swap Bank to the Agent to be the aggregate net amount in Dollars which would be payable by the Borrower to the Swap Bank under (and calculated in accordance with) section 6(c) (Payments on Early Termination) of the Master Agreement entered into by the Swap Bank with the Borrower if an Early Termination Date had occurred on the relevant date in relation to all continuing Designated Transactions entered into between the Borrower and the Swap Bank.

Swap Exposure means, on any day, the amount by which the Swap Counterparty is in-the- money under the Swap on such day (as determined by the Calculation Agent by reference to the mid mark-to-market of the Swap from the perspective of the Swap Counterparty), which amount shall be expressed as a positive amount if in favour of the Swap Counterparty or, the amount by which the Swap Counterparty is out-of-the-money under the Swap on such day (as determined by the Calculation Agent by reference to the mid mark-to-market of the Swap from the perspective of the Swap Counterparty), which amount shall be expressed as a negative amount if in favour of the Issuer.

Swap Exposure means, as at any relevant date, the amount certified by any Hedge Counterparty to the Facility Agent to be that Hedge Counterparty’s actual cost of terminating prematurely any transactions entered into under the relevant Hedging Agreement.

Swap Exposure has the meaning specified in Part 13(b).

Swap Exposure means, as at any relevant time, and in relation to a Master Swap Agreement the amount certified by the relevant Swap Provider to the Agent to be the aggregate net amount in Dollars which would, in the absolute discretion of the Swap Provider, be an estimate of what would be payable by the Borrowers to such Swap Provider under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of such Master Swap Agreement if an Early Termination Date had occurred at the relevant time in relation to all continuing Designated Transactions under that Master Swap Agreement;