Fixed Swap Payment definition

Fixed Swap Payment. With respect to any Distribution Date, a fixed amount equal to the related amount set forth in the Interest Rate Swap Agreement.

Fixed Swap Payment. With respect to any Distribution Date, a fixed amount equal to the product of (i) a per annum rate for that Distribution Date as set forth on Schedule V to this Agreement, (ii) the related Swap Notional Amount (as set forth on Schedule V attached hereto), (iii) 250 and (iv) a fraction, the numerator of which is 30 (or, for the first Distribution Date, 9) and the denominator of which is 360.

Fixed Swap Payment. With respect to any Distribution Date, a fixed amount equal to the fixed swap payment for such Distribution Date as set forth on Schedule 3 attached hereto.

Examples of Fixed Swap Payment in a sentence

• Net Swap Payment: With respect to each Payment Date, a Net Swap Payment will be required to be made (a) by the Trust, to the Swap Provider, to the extent that the Fixed Swap Payment for such Payment Date exceeds the Floating Swap Payment for such Payment Date, or (b) by the Swap Provider, to the Trust, to the extent that the Floating Swap Payment exceeds the Fixed Swap Payment for such Payment Date.

• Net Swap Payment As to any Distribution Date in the case of payments to be made by (a) the External Trust to the Swap Counterparty, the excess, if any, of, (i) the Fixed Swap Payment over (ii) the Floating Swap Payment and (b) the Swap Counterparty to the External Trust, the excess, if any, of (i) the Floating Swap Payment over (ii) the Fixed Swap Payment.

• In the case of payments made by the Supplemental Interest Trust, the excess, if any, of (x) the Fixed Swap Payment over (y) the Floating Swap Payment.

• The purchase of these services was approved as an Exempt Purchase by the Chief Procurement Officer on 3/18/2016 (Exempt Purchase Approval PE16-047c).

• A net payment, referred to as a "NET SWAP PAYMENT", will be required to be made on each such distribution date (a) by the Supplemental Interest Trust to the Swap Provider, to the extent that the Fixed Swap Payment for such distribution date exceeds the Floating Swap Payment for such distribution date, or (b) by the Swap Provider to the Supplemental Interest Trust, to the extent that the Floating Swap Payment for such distribution date exceeds the Fixed Swap Payment for such distribution date.

More Definitions of Fixed Swap Payment

Fixed Swap Payment. With respect to any Distribution Date on or prior to the Distribution Date in April 2014, an amount equal to the product of 5.2375% and the Swap Agreement Notional Amount for such Distribution Date, multiplied by a fraction, the numerator of which is 30 (except with respect to the first Distribution Date, on which the numerator is 25) and the denominator of which is 360. Flagstar: Flagstar Bank, FSB, or any successor in interest.

Fixed Swap Payment. With respect to any Payment Date, a fixed amount equal to the product of (i) the Strike Rate, (ii) the Notional Amount (as defined in the Interest Rate Swap Agreement) for that Payment Date, and (iii) a fraction, the numerator of which is 30 (or, for the first Payment Date, the number of days elapsed from and including the effective date (as defined in the Interest Rate Swap Agreement) to but excluding the first Payment Date, determined on a 30/360 basis) and the denominator of which is 360.

Fixed Swap Payment. With respect to the Business Day prior to any Distribution Date on or prior to the Distribution Date in June 2010, an amount equal to the product of (x) a fixed rate equal to 5.076% per annum, (y) the Swap Agreement Notional Balance for that Distribution Date and (z)(i) with respect to the Business Day prior to the initial Distribution Date, a fraction, the numerator of which is the number of days from and including the Closing Date to and including the day preceding the initial Distribution Date and the denominator of which is 360 and (ii) with respect to the Business day prior to each Distribution Date thereafter, a fraction, the numerator of which is 30 and the denominator of which is 360.

Fixed Swap Payment. With respect to any Distribution Date on or prior to the Distribution Date in September 2013, an amount equal to the product of (x) a fixed rate equal to 4.71% per annum, (y) the Swap Agreement Notional Balance for that Distribution Date and (z) a fraction, the numerator of which is (a) 16 for the Distribution Date in October 2007 and (b) 30 for any Distribution Date occurring after the Distribution Date in October 2007 and the denominator of which is 360. As described in the Swap Agreement, the fixed rate payer period and end dates are subject to adjustment in accordance with the following business day convention.

Fixed Swap Payment. With respect to any Distribution Date on or prior to the Distribution Date in [________] 20[_], an amount equal to the product of (x) a fixed rate equal to [__]%, (y) the Swap Agreement Notional Balance for that Distribution Date and (z) a fraction, the numerator of which is (a) 19 for the Distribution Date in [________] 20[_] and (b) 30 for any Distribution Date occurring after the Distribution Date in [________] 20[_], and the denominator of which is 360.

Fixed Swap Payment. With respect to any Distribution Date, the Fixed Amount required to be paid to the Swap Counterparty by the Trust Fund under the Swap Contract.

Fixed Swap Payment. With respect to any Distribution Date, an amount equal to the product of (i) 5.30%, (ii) the lesser of (a) the related Scheduled Notional Amount (as set forth on Schedule I-H hereto), and (b) (x) the aggregate Certificate Principal Balance of the Offered Certificates as of such Distribution Date prior to giving effect to any payments on such Distribution Date divided by (y) 100, (iii) a fraction, the numerator of which is 30 and the denominator of which is 360 and (iv) the related Payment Factor (as set forth on Schedule I-H hereto).