Swap Exposure means, as at any relevant date, the amount certified by the Swap Bank to the Agent to be the aggregate net amount in Dollars which would be payable by the Borrower to the Swap Bank under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of the Master Agreement if an Early Termination Date had occurred on the relevant date in relation to all continuing Designated Transactions entered into between the Borrower and the Swap Bank;
Swap Exposure means, as at any relevant date and in relation to a Swap Counterparty, the amount certified by the Swap Counterparty to the Agent to be the aggregate net amount in Dollars which would be payable by the Borrowers to the Swap Counterparty under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of the Master Agreement entered into by the Swap Counterparty with the Borrowers if an Early Termination Date had occurred on the relevant date in relation to all continuing Designated Transactions entered into between the Borrowers and the Swap Counterparty;
Swap Exposure means, as at any relevant date the amount certified by the Swap Bank to be the aggregate net amount in Dollars which would be payable by the Borrowers to the Swap Bank under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of the Master Agreement if an Early Termination Date (as therein defined) had occurred on the relevant date in relation to all continuing Transactions (as therein defined) entered into between the Borrowers and the Swap Bank;
Examples of Swap Exposure in a sentence
The Grantor and the Grantee intend and agree that the indebtedness secured hereby (which shall consist of unpaid balances of advances, whether obligatory or not, made either before or after the recording of this Mortgage), exclusive of interest thereon, shall not exceed [$ .00 plus Swap Exposure].
It is understood and agreed that during the period when any Swap Agreement is effective between Customer and ERMS during the term of this Agreement, the net Swap Exposure of ERMS and the Liquidated Damages owed to EGMC shall be aggregated to calculate the $10 million threshold under this Section 10.6 wherein EGMC is the Beneficiary Party.
The Grantor and the Grantee intend and agree that the indebtedness secured hereby (which shall consist of unpaid balances of advances, whether obligatory or not, made either before or after the recording of this Mortgage), exclusive of interest thereon, shall not exceed [$9,000,000.00 plus Swap Exposure].
More Definitions of Swap Exposure
Swap Exposure means, as at any relevant date and in relation to a Swap Counterparty, the amount certified by the Swap Counterparty to the Agent to be the aggregate net amount in Dollars which would be payable by the Borrower to the Swap Counterparty under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of the Master Agreement entered into by the Swap Counterparty with the Borrower if an Early Termination Date had occurred on the relevant date in relation to all continuing Designated Transactions entered into between the Borrower and the Swap Counterparty;
Swap Exposure means, as at any relevant time, the amount certified by the Bank to be the aggregate net amount in Dollars which would be payable by the Borrower to the Bank under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of the Master Swap Agreement if an Early Termination Date had occurred at the relevant time in relation to all continuing Designated Transactions;
Swap Exposure means, at any relevant date, the amount certified by the Lender (whose certificate shall in the absence of manifest error be conclusive and binding on the Borrower and the Lender) to be the aggregate net amount in Dollars which would be payable by the Borrower to the Lender, under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of the Master Agreement if an Early Termination Date had occurred on the relevant date in relation to all continuing Designated Transactions entered into between the Borrower and the Lender;
Swap Exposure means, as at any relevant time, and in relation to a Master Swap Agreement the amount certified by the relevant Swap Provider to the Agent to be the aggregate net amount in Dollars which would, in the absolute discretion of the Swap Provider, be an estimate of what would be payable by the Borrowers to such Swap Provider under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of such Master Swap Agreement if an Early Termination Date had occurred at the relevant time in relation to all continuing Designated Transactions under that Master Swap Agreement;
Swap Exposure means, as at any relevant date, the amount certified by any Hedge Counterparty to the Facility Agent to be that Hedge Counterparty’s actual cost of terminating prematurely any transactions entered into under the relevant Hedging Agreement.
Swap Exposure means, at any time, the net liability exposure of the Borrowers to the Counterparty Banks under the Interest Rate Protection Agreements (marked to market and calculated on a commercially reasonable basis and in accordance with accepted market practice), as set forth on the most recent certificate delivered to the Agent pursuant to Section 6.1(d) (or as of a later date, as permitted under Section 2.5(b)(ii)). With respect to each Bank, the Swap Exposure of such Bank shall include any Swap Exposure owing to any affiliate of such Bank that is a Counterparty Bank.
Swap Exposure means, as at any relevant time, the amount certified by the Swap Provider to the Facility Agent to be the aggregate net amount in Dollars which would be payable by the Borrowers to the Swap Provider under (and calculated in accordance with) section 6(e) (Payments on Early Termination) of the Master Swap Agreement if an Early Termination Date had occurred at the relevant time in relation to all continuing Designated Transactions;