Interest Rate Exchange Agreement means an agreement entered into by the Authority relating to Bonds or First Resolution Bonds which provides that during the term of such agreement the Authority is to pay to the Counterparty an amount based on the interest accruing at a fixed or variable rate per annum on an amount equal to all or a portion of the principal amount of such Bonds or First Resolution Bonds and that the Counterparty is to pay to the Authority either (i) an amount based on the interest accruing on such principal amount at a fixed or variable rate per annum, in each case computed according to a formula set forth in such agreement, or that one shall pay to the other any net amount due under such agreement or (ii) an amount based on the amount by which the rate at which such Bonds or First General Resolution Bonds bear interest exceeds a rate stated in such agreement.
Interest Rate Exchange Agreement means an agreement entered into by the I-Bank, with the prior written consent of the State Treasurer, in connection with the issuance of or which relates to any Bonds which provides that during the term of such agreement the I-Bank is to pay to the Counterparty an amount based on the interest accruing at a fixed or variable rate per annum on a notional amount equal to the principal amount of such Bonds and that the Counterparty is to pay to the I-Bank an amount based on the interest accruing on such notional amount at a fixed or variable rate, in each case computed according to a formula set forth in such agreement, or that one shall pay to the other any net amount due under such agreement.
Interest Rate Exchange Agreement means an agreement entered into by the Authority which relates to Bonds of one or more Series or other bonds, notes or other obligations issued by the Authority in connection with Facilities, which provides that the Authority is to pay to the Counterparty an amount based on the interest accruing at a fixed or variable rate per annum on a stated principal amount and that the Counterparty is to pay to the Authority an amount based on the interest accruing on the same principal amount at a fixed or variable rate per annum, in each case computed according to a formula set forth in such agreement, or that one shall pay to the other any net amount due under such agreement;
Examples of Interest Rate Exchange Agreement in a sentence
The Series 2019B Certificates shall be issued for the purpose of (i) providing for the payment of the principal and interest portions of Basic Lease Payments represented by the Refunded Certificates, (ii) paying Costs of Issuance of the Series 2019B Certificates and (iii) paying amounts due under the Series 2015C Interest Rate Exchange Agreement upon the termination thereof.
FRMC shall consider including provisions that permit it to assign its rights and obligations under the Interest Rate Exchange Agreement and to optionally terminate the agreement at its market value at any time.
Aspects of Risk Exposure Associated with IREA Contracts Before entering into an Interest Rate Exchange Agreement, FRMC shall evaluate, with the assistance of its Swap Advisor, all the risks inherent in the transaction.
Such provisions may include the right to terminate an Interest Rate Exchange Agreement upon a downgrade of a counterparty below certain specified rating levels, or the requirement for a counterparty to post collateral over certain specified thresholds.
The City shall consider including provisions that permit it to assign its rights and obligations under the Interest Rate Exchange Agreement and to optionally terminate the agreement at its market value at any time.
More Definitions of Interest Rate Exchange Agreement
Interest Rate Exchange Agreement means any interest rate exchange agreement authorized by law and entered into with respect to the Notes or any portion of the Trust Estate that is entered into in accordance with the Master Indenture.
Interest Rate Exchange Agreement means the Initial Interest Rate Exchange Agreement and any similar agreement entered into by Access Group and a Swap Counterparty as described under “Description of the Indenture—Interest Rate Exchange Agreements.”
Interest Rate Exchange Agreement. ’ means an agreement entered into by the Authority relating to Bonds or First General Resolution Bonds which provides that during the term of such agreement the Authority is to pay to the Counterparty an amount based on the interest accruing at a fixed or variable rate per annum on an amount equal to all or a portion of the principal amount of such Bonds or First General Resolution Bonds and that the Counterparty is to pay to the Authority either (i) an amount
Interest Rate Exchange Agreement means an agreement entered into by the City relating to Bonds of one or more Series which provides that during the term of such agreement the City is to pay to the Counterparty an amount based on the interest accruing at a fixed or variable rate per annum on a notional amount and that the Counterparty is to pay to the City either (i) an amount based on the interest accruing on such notional amount at a fixed, capped or variable rate per annum, in each case computed according to a formula set forth in such agreement, or that one shall pay to the other any net amount due under such agreement, or (ii) an amount based on the amount by which the rate per annum at which such Bonds bear interest exceeds a rate per annum stated in such agreement.
Interest Rate Exchange Agreement or “Derivative” shall mean a written contract between the City and a counterparty, entered into in connection with the issuance of City debt or in connection with City debt already outstanding, to provide for an exchange of payments based upon fixed and/or variable interest rates. The failure by the City to comply with any provision of this policy will not invalidate or impair any Interest Rate Exchange Agreement.
Interest Rate Exchange Agreement means any financial arrangement (i) that is entered into by the Authority with an entity that is a Counterparty at the time the arrangement is entered into; (ii) which provides that the Authority shall pay to such entity an amount based on the principal amount of a Series of Bonds, and that such entity shall pay to the Authority an amount based on the principal amount of such Series of Bonds, in each case computed in accordance with a formula set forth in such agreement, or that one shall pay to the other any net amount due under such arrangement; (iii) which has been designated in writing to the Trustee by an Authorized Representative of the Authority as an Interest Rate Exchange Agreement with respect to a Series of Bonds and (iv) which, in the opinion of Bond Counsel, will not adversely effect the exclusion of interest on Bonds from gross income for the purposes of federal income taxation.
Interest Rate Exchange Agreement means an agreement between the Authority and a counterparty (having a rating from Moody’s of at least A2 without collateral or A3 with collateral) confirming a transaction which is an interest rate swap transaction, basis swap, forward rate transaction, bond option, interest rate option, foreign exchange transaction, cap transaction, floor transaction, collar transaction, corridor transaction, currency swap transaction, cross- currency rate swap transaction, currency option or any other similar transaction (including any option with respect to any of the foregoing transactions) or any combination of these transactions, entered into pursuant to Section 5.5(D) hereof.