Floating Swap Payment. With respect to any Distribution Date on or prior to the Distribution Date in January 2010, an amount equal to the product of (x) Swap LIBOR, (y) the Swap Agreement Notional Balance for that Distribution Date and (z) a fraction, the numerator of which is equal to the number of days in the related calculation period as provided in the Swap Agreement and the denominator of which is 360.

Floating Swap Payment. With respect to any Distribution Date, a floating amount equal to the product of (i) Swap LIBOR, (ii) the related Base Calculation Amount (as defined in the Interest Rate Swap Agreement), (iii) 250 and (iv) a fraction, the numerator of which is the actual number of days elapsed from and including the previous Floating Rate Payer Payment Date (as defined in the Interest Rate Swap Agreement) to but excluding the current Floating Rate Payer Payment (or, for the first Floating Rate Payer Payment Date, the actual number of days elapsed from the Closing Date to but excluding the first Floating Rate Payer Payment Date), and the denominator of which is 360.

Floating Swap Payment. With respect to any Distribution Date, a floating amount equal to the product of (i) one-month LIBOR (as determined pursuant to the Interest Rate Swap Agreement for such Distribution Date), (ii) the related Base Calculation Amount (as defined in the Interest Rate Swap Agreement), (iii) 250 and (iv) a fraction, the numerator of which is the actual number of days elapsed from and including the previous Distribution Date to but excluding the current Distribution Date (or, for the first Distribution Date, the actual number of days elapsed from the Closing Date to but excluding the first Distribution Date), and the denominator of which is 360.

Examples of Floating 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 Swap Provider, the excess, if any, of (x) the Floating Swap Payment over (y) 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.
Such value of the CPI Index Rate shall be utilized in calculating, with respect to the Class A-4FC Certificates, (i) the Class A-4FC Floating Swap Payment to be made on the Class A-4FC Swap Payment Date in January 2006 and (ii) the Pass-Through Rate with respect to the Class A-4FC Certificates for the Distribution Date in January 2006.

More Definitions of Floating Swap Payment

Floating Swap Payment. With respect to any Distribution Date, a floating amount equal to the product of (i) LIBOR (as determined pursuant to the Swap Agreement for such Distribution Date), (ii) the related swap balance (as set forth on Schedule 3 attached hereto) and (iii) a fraction, the numerator of which is the actual number of days elapsed from and including the previous Distribution Date to but excluding the current Distribution Date (or, for the first Distribution Date, the actual number of days elapsed from and including the Closing Date to but excluding the first Distribution Date), and the denominator of which is 360.

Floating Swap Payment. With respect to any Payment Date, a floating amount equal to the product of (i) Swap LIBOR, (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 the actual number of days in the related calculation period and the denominator of which is 360.

Floating Swap Payment. With respect to any Distribution Date, a floating amount equal to the product of (i) Swap LIBOR, (ii) the lesser of (a) the product of (I) the aggregate Certificate Principal Balance of the outstanding Class A and Mezzanine Certificates immediately prior to such Distribution Date and (II) 1/250 and (b) the related Notional Amount (as defined in the Interest Rate Swap Agreement), (iii) 250 and (iv) a fraction, the numerator of which is the actual number of days elapsed from and including the previous Floating Rate Payer Period End Date (as defined in the Interest Rate Swap Agreement) to but excluding the current Floating Rate Payer Period End Date (or, for the first Distribution Date, the actual number of days elapsed from the Closing Date to but excluding the first Floating Rate Payer Period End Date), and the denominator of which is 360.

Floating Swap Payment. With respect to any Distribution Date, an amount equal to the product of (i) Swap LIBOR, (ii) the related Notional Amount (as defined in the Interest Rate Swap Agreement), (iii) 250 and (iv) a fraction, the numerator of which is the actual number of days elapsed from and including the previous Floating Rate Payer Period End Date (as defined in the Interest Rate Swap Agreement) to but excluding the current Floating Rate Payer Period End Date (or, for the first Distribution Date, the actual number of days elapsed from the Closing Date to but excluding the first Floating Rate Payer Period End Date), and the denominator of which is 360.

Floating Swap Payment. With respect to any Floating Rate Payer Payment Date (as defined in the Interest Rate Swap Agreement), an amount equal to the floating amount calculated in accordance with the related Interest Rate Swap Agreement.

Floating Swap Payment. With respect to any Distribution Date beginning in June 2007 up to and including the Distribution Date in April 2013, an amount equal to the product of (i) Swap LIBOR, (ii) the Swap Notional Amount for such Distribution Date and (iii) a fraction, the numerator of which is the actual number of days elapsed from and including the previous Distribution Date to but excluding the current Distribution Date, and the denominator of which is 360.

Floating Swap Payment. With respect to any Distribution Date, a floating amount equal to the product of (i) LIBOR (as determined pursuant to the Group I Swap Agreement for such Distribution Date), (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 the actual number of days elapsed from and including the previous Distribution Date to but excluding the current Distribution Date (or, for the first Distribution Date, the actual number of days elapsed from and including the Closing Date to but excluding the first Distribution Date), and the denominator of which is 360. Form 8-K Disclosure Information: As defined in Section 10.12(c)(i). Xxxxxxx Mac: Xxxxxxx Mac, a corporate instrumentality of the United States created and existing under Title III of the Emergency Home Finance Act of 1970, as amended, or any successor thereto.