Swap Payment definition

Swap Payment. With respect to each Distribution Date, an amount equal to the product of (a) a rate that will range from 4.68% to 4.90% per annum, (b) the Swap Notional Amount and (c) a fraction, the numerator of which is the actual number of days elapsed in each Accrual Period and the denominator of which 360.

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Swap Payment means, with respect to each Distribution Date, the amount payable to the Swap Counterparty by the Trust for such date as specified in the related Swap Agreement.

Swap Payment means the payments made by the Trust to the Swap Counterparty pursuant to any Swap, subject to any netting of payments provided in the applicable Swap.

Examples of Swap Payment in a sentence

On the Business Day of receipt of any notices, information or reports received by the Swap Contract Administrator from the Counterparty, the Swap Contract Administrator shall provide the same to the Trustee, including without limitation information regarding any Net Swap Payment or Swap Termination Payment that will be payable by the Swap Contract Administrator to the Counterparty with respect to the next Distribution Date.
All such investments must be payable on demand or mature on a Swap Payment Date, a Distribution Date or such other date as directed by the Certificateholders.
Pursuant to the terms of the Class Interest Rate Swap, the Interest Rate Swap Counterparty shall pay to the Trust the Net Swap Receipt or the Trust shall pay to the Interest Rate Swap Counterparty the Net Swap Payment, as applicable.
In addition, in accordance with the terms of the Interest Rate Swap, the Trustee shall pay to the Swap Counterparty the Net Swap Payment, if any, for such Transfer Date, plus the amount of any Net Swap Payment due but not paid on any previous Transfer Date, from amounts applied pursuant to subsections 4.09(a)(ii).
In the event that any such Class is resecuritized in a REMIC, the obligation under the Swap Agreement to pay any such Swap Termination Payment (or any shortfall in Net Swap Payment), will be made by one or more of the REMIC Regular Interests issued by the resecuritization REMIC subsequent to such REMIC Regular Interest receiving its full payment from any such Offered Certificate.

More Definitions of Swap Payment

Swap Payment means the payments made by the Note Issuer to the Swap Counterparty pursuant to any Swap, subject to any netting of payments provided in the applicable Swap.

Swap Payment means each net periodic payment payable under a Swap Contract or a net termination payment payable under a Swap Contract, by the Borrower to a Swap Bank or by a Swap Bank to the Borrower;

Swap Payment means any payment received by the Trust Collateral Agent under the Swap Agreement.

Swap Payment means any payment by the Hedge Counterparty to the Borrower pursuant to an Interest Rate Hedging Agreement.

Swap Payment means a payment made under a swap agreement;

Swap Payment. The meaning set forth in Section 8.01(a) of the Indenture.

Swap Payment means a payment made under a swap agreement; (qqq) “tax” means any tax imposed under this Act;