Securitization Assets. (i) None of the Collateral is subject to any Lien of any Debt of Exela or any of its Affiliates other than the Lien of the Administrative Agent under the Transaction Documents. Without limiting the foregoing, all of the Collateral satisfies the definition of “Securitization Assets” sold to a “Special Purpose Securitization Subsidiary” in connection with a “Permitted Securitization Financing,” and therefore is “Excluded Property” that is free and clear of any Adverse Claim of any Existing Specified Secured Debt.
Appears in 4 contracts
Samples: Second Tier Receivables Purchase and Sale Agreement (Exela Technologies, Inc.), Joinder Agreement (Exela Technologies, Inc.), First Tier Receivables Purchase and Sale Agreement (Exela Technologies, Inc.)
Securitization Assets. (i) None of the Collateral Receivables and Related Assets is subject to any Lien of any Debt of Exela or any of its Affiliates other than the Lien of the Administrative Agent under the Transaction Documents. Without limiting the foregoing, all of the Collateral Receivables and Related Assets satisfies the definition of “Securitization Assets” sold to a “Special Purpose Securitization Subsidiary” in connection with a “Permitted Securitization Financing,” and therefore is “Excluded Property” that is free and clear of any Adverse Claim of any Existing Specified Secured Debt.
Appears in 2 contracts
Samples: First Tier Purchase and Sale Agreement (Exela Technologies, Inc.), Second Tier Purchase and Sale Agreement (Exela Technologies, Inc.)
Securitization Assets. (i) None of the Collateral is subject to any Lien of any Debt of Exela or any of its Affiliates other than the Lien of the Administrative Agent under the Transaction Documentsthis Agreement. Without limiting the foregoing, all of the Collateral satisfies the definition of “Securitization Assets” sold to a “Special Purpose Securitization Subsidiary” in connection with a “Permitted Securitization Financing,” and therefore is “Excluded Property” that is free and clear of any Adverse Claim of any Existing Specified Secured Debt.
Appears in 1 contract
Samples: Loan and Security Agreement (Exela Technologies, Inc.)
Securitization Assets. (i) None of the Collateral is subject to any Lien of any Debt of Exela or any of its Affiliates other than the Lien of the Administrative Agent under the Transaction Documents. Without limiting the foregoing, all of the Collateral satisfies the definition of “Securitization Assets” sold to a “Special Purpose Securitization Subsidiary” in connection with a “Permitted Securitization Financing,” and therefore is “Excluded Property” that is free and clear of any Adverse Claim of any Existing Specified Secured Debt.
Appears in 1 contract
Samples: Second Tier Purchase and Sale Agreement (Exela Technologies, Inc.)
Securitization Assets. (i) None of the Collateral is subject to any Lien of any Debt of Exela or any of its Affiliates other than the Lien of the Administrative Agent under the Transaction Documentsthis Agreement. Without limiting the foregoing, all of the Collateral satisfies the definition of “Securitization Assets” sold to a “Special Purpose Securitization Subsidiary” in connection with a “Permitted Securitization Financing,” and therefore is “Excluded Property” that is free and clear of any Adverse Claim of any Existing Specified Secured DebtDebt or Debt evidenced by the Existing Receivables Financing Agreement.
Appears in 1 contract
