respect of a project for purposes of financing of that project; "subordination" means, in relation to a borrower, that a debt (or class of debt) of that borrower ranks, in priority of payment, lower than other debt (or classes of debt) of the borrower and, accordingly the borrower will not repay the debt (or class of debt) to the other relevant lender(s) (the subordinated or junior lender(s)) until such other debt (or classes of debt) has/have been repaid to such other relevant lender(s) (the senior lender(s)), and "subordinated" shall have a corresponding meaning; "swap" means a transaction concluded between two or more counter parties which is aimed at managing the risk of, among other things, interest rate or currency fluctuations. In a simple currency swap the counter parties agree sell to each a currency with a commitment to re-exchange the principal amount at the maturity of the transaction. In an interest rate swap the counter parties agree to exchange periodic interest payments. Swaps may permit a counter party to more effectively manage its debt; "syndication" means an arrangement which, in respect of a debt of a borrower, provides for multiple (or a group of) lenders (syndicate lenders}, and which ordinarily provides for each such syndicate lender to incur only such obligations as relate to that portion of that debt which is owed by that borrower to that syndicate lender; 88