Swap Provider Default definition

Swap Provider Default means the occurrence of an Event of Default or Termination Event (each as defined in each of the Swap Agreements) where the relevant Swap Provider is the Defaulting Party or the sole Affected Party (each as defined in relevant Swap Agreement), as applicable, other than a Swap Provider Downgrade Event;
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Swap Provider Default means the occurrence of an Event of Default or swap provider termination event (each as defined in the relevant Swap Agreement) where the relevant Swap Provider is the Defaulting Party or the Affected Party (each as defined in the relevant Swap Agreement);
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Swap Provider Default means the occurrence of:
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Examples of Swap Provider Default in a sentence

  • The Remarketing Agent may be removed at any time by the Swap Provider (unless a Swap Provider Default has occurred and is continuing), subject to the terms and conditions of the Remarketing Agreement.

  • Except as specifically authorized hereunder, the Servicer may not assign or delegate any of its power, rights or obligations under this Agreement absent the prior written consent of Certificateholders with aggregate Fractional Interests representing 51% or more of the Trust and the prior written consent of RUS and, unless a Swap Provider Default has occurred and is continuing, the Swap Provider and any attempt to do so without such consent shall be void.

  • If an Event of Servicing Termination or Swap Provider Default, has occurred (which has not been cured), the Trustee shall exercise such of the rights and powers vested in it by this Agreement, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such persons's own affairs.

  • The Trustee may be removed without cause by the Servicer or, with the consent of the Servicer and, unless a Swap Provider Default has occurred and is continuing, the Swap Provider, Certificateholders with aggregate Fractional Interests of 51% or more of the Trust.

  • Unless a Swap Provider Default shall have occurred and be continuing, from and after six (6) months after the Refinancing Date, the Remarketing Agent may be removed or replaced, for lack of performance, by not less than 30 days' prior written notice signed by the Swap Provider delivered to the Remarketing Agent.

  • The Trustee, with the consent of the Swap Provider (unless a Swap Provider Default has occurred and is continuing), shall appoint an Eligible Servicer as successor Servicer and such successor Servicer shall accept its appointment by a written assumption in a form acceptable to the Trustee and shall agree in writing to be the Servicer under the Notes and the Guarantee and to enforce the Trustee's rights thereunder.

  • Certificateholders with aggregate Fractional Interests representing 51% or more of the Trust (with the consent of the Swap Provider unless a Swap Provider Default has occurred and is continuing ) may on behalf of Certificateholders waive any past Event of Servicing Termination or Swap Provider Default hereunder and its consequences; but no such waiver shall extend to any subsequent or other Event of Servicing Termination or Swap Provider Default or impair any right consequent thereof.

  • Upon resignation or removal of the Remarketing Agent or upon termination of the Remarketing Agreement (other than termination of the Remarketing Agreement due to termination of the Swap Agreement), the Cooperative, with the advice and consent of the Swap Provider (unless a Swap Provider Default has occurred and is continuing), shall appoint a successor Remarketing Agent.


More Definitions of Swap Provider Default

Swap Provider Default means any failure of the Swap Provider to make Swap Payments or any other payments (including delivery of collateral) when due under the Swap Agreement.
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Swap Provider Default means the occurrence of an Event of Default or Termination Event (each as defined in each of the Swap Agreements) where the relevant Swap Provider is the Defaulting Party or the sole Affected Party (each as defined in the relevant Swap Agreement), as applicable, other than a Swap Provider Downgrade Event; Swap Provider Downgrade Event means the occurrence of an Additional Termination Event (as defined in the relevant Swap Agreement) following a failure by the Swap Provider to comply with the requirements of the ratings downgrade provisions set out in the relevant Swap Agreement;
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Related to Swap Provider Default

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

  • Lender Default means (a) the refusal or failure (which has not been cured) of a Lender to make available its portion of any Borrowing or to fund its portion of any Unpaid Drawing under Section 3.4 that it is required to make hereunder, (b) a Lender having notified the Administrative Agent and/or the Borrower that it does not intend to comply with its funding obligations under this Agreement or has made a public statement to that effect with respect to its funding obligations under this Agreement, (c) a Lender has failed to confirm (within one Business Day after a request for such confirmation is received by such Lender) in a manner reasonably satisfactory to the Administrative Agent, the Borrower and, in the case of a Revolving Credit Lender, each Revolving Letter of Credit Issuer that it will comply with its funding obligations under this Agreement, (d) a Lender being deemed insolvent or becoming the subject of a bankruptcy or insolvency proceeding or has admitted in writing that it is insolvent; provided that a Lender Default shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Stock in the applicable Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide the applicable Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit the applicable Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with the applicable Lender, or (e) a Lender that has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action.

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.