Swap. Client agree to pay/receive swap payment/interest arising from Open Positions left overnight, according to correspondent financial markets swap interest rates by Company, which shall be calculated and paid/received by Client, and will be stated in the Account History.
Swap. This confirmation hereby amends and replaces the confirmation entered into between us, you and the Security Trustee on 14th June, 2002, as amended and restated on 6th March, 2003 (the Previous Confirmation). This confirmation constitutes a “Confirmation” as referred to in the 1992 ISDA Master Agreement (Multicurrency-Cross Border) dated as of 14th June, 2002 as amended and restated by us, you and the Security Trustee on 6th March, 2003 and the date hereof and as amended and supplemented from time to time (the Agreement). As of the date hereof, all rights and obligations of the parties to the Previous Confirmation shall cease to exist and shall be replaced in their entirety by the rights and obligations arising pursuant to this Confirmation. The purpose of this letter (the Confirmation) is to confirm the terms and conditions of the Swap Transaction entered into between us on the Trade Date specified below. The definitions and provisions contained in the 2000 ISDA Definitions as published by the International Swaps and Derivatives Association, Inc. (the Definitions) are incorporated into this Confirmation. In the event of any inconsistency between any of the following, the first listed shall govern: (i) this Confirmation; (ii) the Master Definitions Schedule; and (iii) the Definitions. The following expressions shall, for the purpose of this Confirmation, have the following meanings:
Swap. If the LIBOR Rate for an Interest Period of one month is above two percent (2.00%) for 30 consecutive days during the term of the Loans, the Borrower will be required to enter into a swap or purchase an interest rate cap with respect to the Loans with a counterparty and on terms and conditions reasonably acceptable to the Agent. Any such swap or interest rate cap which is a Derivatives Provider Contract shall be an independent agreement governed by the written provisions of said Derivatives Provider Contract, which will remain in full force and effect unaffected by any repayment, prepayment, acceleration, reduction, increase or change in the terms of this Agreement, except as otherwise expressly provided in said Derivatives Provider Contract, and any payoff statement from the Agent relating to this Agreement shall not apply to a Derivatives Provider Contract except as otherwise expressly provided in such payoff statement. Any prepayment, acceleration, reduction, increase or any change in the terms of the Loan will not alter the notional amount of any such Derivatives Provider Contract, which will remain in full force and effect notwithstanding any such prepayment, acceleration, reduction, increase or change, subject to the terms of such Derivatives Provider Contract.
Swap. 11.1 The Company offers Islamic (swap-free) accounts to comply with Islamic Shariah law; this is also an advantage for all traders who hold their positions for multiple days without being aware of swaps or overnight fees; thus, a trading account would not pay, or be paid for holding a position for more than one business day.
Swap. Borrower will be offered an opportunity to hedge the floating interest expense under the Notes by entering into an interest rate swap (the “Swap") with Agent (or its affiliates) or any Lender (or its Affiliates) (or other counterparty reasonably acceptable to Agent) on or after the Closing. In the event Borrower chooses to obtain the Swap from Agent or any Lender (or any affiliate of any thereof), then Borrower shall be required to execute documentation as deemed necessary by the party issuing the Swap to document the Swap, including the ISDA Master Agreement. Borrower’s attorney shall furnish an opinion of counsel relating to such documents in substantially the same form provided by Agent or Lender or alternatively shall provide appropriate corporate resolutions. On the Commitment Termination Date, the Swap will be terminated and applicable breakage fees shall be paid by Borrower.
Swap. On or within two business days of the date hereof, enter into, and maintain at all times until the maturity date of the Term Loan, one or more interest rate swap agreements having an aggregate notional principal amount equal to at least thirty-three percent (33%) of the then-outstanding principal of the Term Loan.
Swap. The Swap is in full force and effect. Swap Pro- vider (and, to Administrative Agent’s knowledge, Borrower) is not in default under the Swap.135
Swap. Borrower may enter into a SWAP agreement or other similar agreement or arrangement with Lender or its affiliates with respect to any or all LIBOR Loans (any such agreement or arrangement shall be in form and substance reasonably satisfactory to Lender) in order to hedge or minimize risk with respect to the fluctuation of interest rates (the “SWAP Agreement”). The SWAP Agreement shall be for a stipulated term, and shall, at all times, be in a notional amount sufficient to cover all principal amounts outstanding from time to time under the respective Loan. If the SWAP Agreement shall expire and leave any principal of the Loan uncovered thereby, or if for any other reason any principal portion of the Loan shall be uncovered by the SWAP Agreement, such uncovered amount shall be immediately due and payable. Interest rate SWAP’s are subject to a make whole provision in the event of a prepayment. In the event that interest rates have moved downward, the Borrower will be responsible to the Lender for such payment.
Swap. This confirmation hereby amends and replaces the confirmation entered into between us, you and the Security Trustee on 14th June, 2002, as amended and restated on 6th March, 2003, 25th November, 2003, 12th March, 2004, 22nd July, 2004 and 18th November, 2004 (the PREVIOUS CONFIRMATION). This confirmation constitutes a "Confirmation" as referred to in the 1992 ISDA Master Agreement (Multicurrency-Cross Border) dated as of 14th June, 2002 as amended and restated by us, you and the Security Trustee on 6th March, 2003, 25th November, 2003, 12th March, 2004, 22nd July, 2004, 18th November, 2004 and the date hereof and as amended and supplemented from time to time (the