Euro/Dollar Basis Swap Agreement between Navigation Technologies and Counterparty (April 22, 2003)
Navigation Technologies entered into a Euro/Dollar basis swap agreement effective April 22, 2003. Under this agreement, Navigation Technologies will receive interest payments based on 1-month US Dollar LIBOR and pay interest based on 1-month Euribor, with monthly resets and payments. The contract matures on December 24, 2006, and includes an amortizing monthly exchange at the end. The initial USD notional amount is $187,136,045.79. The agreement is signed by Navigation Technologies' Executive Vice President and CFO.
Exhibit 10.4
Navigation Technologies
Deal Request
22-Apr-03
| Transaction |
| Euro/Dollar Basis Swap | |
| Navigation Technologies Receives |
| 1 Month US$ Libor | |
| Navigation Technologies Pays |
| 1 Month Euribor | |
| Begin Date |
| April 22, 2003 with the first coupon date of May 24th, 2003 and the 24th of each month thereafter | |
| Maturity Date |
| 24-Dec-06 | |
| Reset |
| Once every month | |
| Start Exchange |
| No | |
| End Exchange |
| Yes, an amortizing monthly exchange is agreed | |
| Spot Level Eur/USD |
| Market Rate less 17 basis points | |
| Exact USD Amount |
| $187,136,045.79 | |
| Organization |
| 1 | |
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| Signature |
| /s/ David B. Mullen |
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| Date |
| 4/22/03 |
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| Title |
| Executive Vice President and | |
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