Swap Payment Allocation definition
Swap Payment Allocation. For any Class of Certificates and any Distribution Date, that Class's pro rata share of the Net Swap Receipts, if any, for that Distribution Date, based on the Class Certificate Balances of the Classes of Certificates.
Swap Payment Allocation. Not Applicable.
Swap Payment Allocation. For any Class of Offered Certificates outstanding, the pro rata share of the Net Swap Payment owed by the Swap Counterparty, if any, based on the outstanding Certificate Principal Balance of such Class of Offered Certificates.
More Definitions of Swap Payment Allocation
Swap Payment Allocation. For any Class of LIBOR Certificates and any Distribution Date is that Class’s pro rata share of the Net Swap Receipts, if any, for that Distribution Date, based on the respective Class Principal Balances of the LIBOR Certificates.
Swap Payment Allocation. For any Class of Group 1 Certificates and any Distribution Date is that Class's pro rata share of the Net Swap Receipts, if any, for that Distribution Date, based on the respective Class Principal Balances of the Group 1 Certificates.
Swap Payment Allocation. For any Class of Group I Certificates and any Distribution Date, that Class’s pro rata share of any Net Swap Payment available after allocation of such Net Swap Payment pursuant to clauses (A) through (E) of Section 4.09(c) for that Distribution Date, based on the respective Certificate Principal Balances of the Group I Certificates. Swap Termination Payment: Upon the occurrence of an Early Termination Date, the payment to be made by the Trustee on behalf of the Trust to the Swap Counterparty from payments from the Trust Fund, or by the Swap Counterparty to the Trustee for payment to the Trust Fund, as applicable, pursuant to the terms of the Swap Agreement.