Swap Indebtedness definition

Swap Indebtedness means any liability of the Borrower or any Designated Subsidiary to a Swap Lender under a Swap Agreement;

Swap Indebtedness means, collectively, all of the obligations, indebtedness and liabilities (present or future, absolute or contingent, mature or not) of Pengrowth or its affiliates under, pursuant or relating to any and all Lender Swap Agreements;

Swap Indebtedness means, at any time, the aggregate amount owing by the Loan Parties under all Lender Swaps, and when such amount is calculated at any time on or after the Adjustment Time means, for each Swap Lender an amount determined by such Swap Lender by calculating for each of its Lender Swaps, the Termination Amount and determining the difference, if positive, of the aggregate net amounts payable by any Loan Party to such Swap Lender;

Examples of Swap Indebtedness in a sentence

• The parties acknowledge that all Cash Management Facility Indebtedness under all Cash Management Facilities shall be guaranteed under the Loan Party Guarantee and secured by the Security and shall, as to the Security, rank pari passu with the Obligations, the Swap Indebtedness and the Operating Facility Indebtedness.

• All Term Indebtedness, Operating Indebtedness and Swap Indebtedness shall rank in right of payment in priority to the Intercompany Subordinated Debt, the Convertible Debt and the Subordinated Debt.

• The parties agree that all Swap Indebtedness shall be guaranteed under the Loan Party Guarantee and secured by the Security and shall, as to the Security, rank pari passu with the Obligations, the Cash Management Facility Indebtedness and the Operating Facility Indebtedness.

• Notwithstanding the foregoing or the provisions of any Swap, the Lenders and Swap Lenders shall not effect or purport to effect any set-off of Swap Indebtedness that is not Permitted Swap Indebtedness against or on account of any Secured Obligations owed to it.

• All Permitted Swap Indebtedness shall, as to the Security, rank pari passu with the Syndicated Borrowings, the Operating Borrowings, the Cash Management Obligations and the Creditcard Obligations.

More Definitions of Swap Indebtedness

Swap Indebtedness has the meaning set forth in the recitals. ----------------- --------

Swap Indebtedness has the meaning assigned to such term in the definition of Excluded Swap Obligation.

Swap Indebtedness means, collectively, all of the obligations, indebtedness and liabilities (present or future, absolute or contingent, mature or not) of Pengrowth or its affiliates under, pursuant to or relating to any and all Lender Swap Agreements;

Swap Indebtedness means indebtedness, liabilities, fees, costs, assessments, or obligations, now existing or hereafter arising, due or to become due, absolute or contingent, of the Borrower to (i) Agent or to any Lender under any Swap Transaction, Swap Transaction Documents, or Financial Contract or (ii) the Agent or any Lender on the date of this Agreement with respect to any Swap Transaction, Swap Transaction Documents, or Financial Contract in effect on or as of the date of this Agreement.

Swap Indebtedness means the actual Indebtedness or obligations of the Borrower to a Swap Lender under or pursuant to a Swap Document.

Swap Indebtedness has the meaning assigned to such term in the recitals hereof.

Swap Indebtedness has the meaning given to it in Recital A. Tax means a tax, levy, charge, impost, fee, deduction, withholding or duty of any nature, including stamp and transaction duty or any goods and services tax (including GST), value added tax or consumption tax, which is imposed or collected by a Government Authority, except where the context requires otherwise. This includes any interest, fine, penalty, charge, fee or other amount imposed in addition to those amounts, but does not include a tax on the overall net income of the Mortgagee.