Document ID: 15370

Text:
Excluded Swap Obligation means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the Guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation, or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantors failure for any reason not to constitute an eligible contract participant as defined in the Commodity Exchange Act and the regulations thereunder at the time the Guarantee of such Guarantor or the grant of such security interest becomes effective with respect to such related Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Guarantee or security interest is or becomes illegal.

Named Entities:
62
64
Act
149
150
Title

Tokenized Text:
Excluded
Swap
Obligation
means
,
with
respect
to
any
Guarantor
,
any
Swap
Obligation
if
,
and
to
the
extent
that
,
all
or
a
portion
of
the
Guarantee
of
such
Guarantor
of
,
or
the
grant
by
such
Guarantor
of
a
security
interest
to
secure
,
such
Swap
Obligation
(
or
any
Guarantee
thereof
)
is
or
becomes
illegal
under
the
Commodity
Exchange
Act
or
any
rule
,
regulation
,
or
order
of
the
Commodity
Futures
Trading
Commission
(
or
the
application
or
official
interpretation
of
any
thereof
)
by
virtue
of
such
Guarantors
failure
for
any
reason
not
to
constitute
an
eligible
contract
participant
as
defined
in
the
Commodity
Exchange
Act
and
the
regulations
thereunder
at
the
time
the
Guarantee
of
such
Guarantor
or
the
grant
of
such
security
interest
becomes
effective
with
respect
to
such
related
Swap
Obligation
.
If
a
Swap
Obligation
arises
under
a
master
agreement
governing
more
than
one
swap
,
such
exclusion
shall
apply
only
to
the
portion
of
such
Swap
Obligation
that
is
attributable
to
swaps
for
which
such
Guarantee
or
security
interest
is
or
becomes
illegal
.