Securitization Financing. The Borrower acknowledges and agrees that, with respect to any insured loan that is included by the Lender in a pooling program, for as long as such insured loan is included in the pooling program: any new or additional advances, increases to principal, or further borrowings beyond an initial advance or extensions of the term and including revolving loans, lines of credit and re-advances (each an “additional advance” and, collectively, “additional advances”), on such terms as notified to the Borrower from time to time, are only permitted on the condition that each additional advance is a new loan, and the new loan made to the Borrower will be treated as a separate and distinct loan for all purposes including enforcement, and the Borrower covenants and agrees to enter into such additional or new documentation or security requested by the Lender in respect of any such additional advance; any references or rights, in favour of the Lender or otherwise, with respect to any consolidation of any security, hypothecs, loans or property with respect to any insured loan under a pooling program are disclaimed by the Lender as against the hypothecary insurer and the Administrator so long as the hypothecary insurer and/or Administrator have an interest in the insured loan; and any references or rights, in favour of the Lender or otherwise, with respect to any cross collateralization or cross default of any security, hypothecs, loans or property, or the granting of property as security for more than one loan, or more than one loan being secured by a single property, in cases where not all of such loans secured by the Contract and the hypothecs thereunder are included in a pooling program, are disclaimed by the Lender as against the hypothecary insurer and the Administrator and such references or rights will not be exercised by the Lender with respect to any loans that are not included in a pooling program so long as the hypothecary insurer and/or Administrator have an interest in the insured loan; but, for certainty and notwithstanding the foregoing, the Borrower acknowledges and agrees that the Lender is in no way waiving, disclaiming, discharging or releasing the security of the hypothecs as against any persons, including the Borrower, any Surety or any other person having or taking an interest in the Hypothecated Property.
Securitization Financing. Section 6.10.
Securitization Financing. Notwithstanding anything contained in this Article VI, in the event that the Owner transfers the Mortgage Loans in connection with a securitization financing, the Servicer will account for collections, and allocate and deposit funds in accordance with the provisions of the operative documents executed in connection with such securitization financing, provided, however, that Servicer shall have the right in its sole discretion to resign as Servicer with respect to such transferred Mortgage Loans (i) without payment or liability and (ii) without prejudice to any reimbursement, compensation or fee due hereunder to Servicer with respect to such transferred Mortgage Loans.
Securitization Financing. Subject to Servicers right to resign pursuant to Section 6.9, in addition to the reports required pursuant to this Article VII, in the event that the Owner transfers the Mortgage Loans in connection with a securitization financing, the Servicer will modify the forms of reports or produce any additional reports in accordance with the provisions of the operative documents executed in connection with such securitization financing.
Securitization Financing. If requested by EIP, IHC, the Partnership and New Lessee agree to cooperate in good faith with EIP, including considering forming a new bankruptcy-remote lessee entity to serve as the lessee for one or more Hotels owned by EIP which are leased to the Partnership or New Lessee, in connection with a securitized financing by EIP or ENNS; xxovided that the business terms and the legal liabilities imposed upon the Partnership, New Lessee or IHC shall not be materially different from those under the arrangements
Securitization Financing. 49 VII. DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 EXHIBITS -------- Exhibit A -- Consolidated Lease Amendment Exhibit B -- Consent to Assignment Exhibit C -- Purchase and Sale Agreement Exhibit D -- Matters to be Covered by Legal Opinion of Hunton & Willxxxx Xxxibit E -- Matters to be Covered by Legal Opinion of Jonex, Day, Reavxx & Xogux Xxxibit F -- IHC Guarantees Exhibit G -- Subordination Agreement - iii - 4 TABLE OF CONTENTS (cont'd)
Securitization Financing. The Texas electric restructuring law provides for the use of special purpose entities to issue securitization bonds for the economic value of generation-related regulatory assets and stranded costs. These securitization bonds will be amortized over a period not to exceed 15 years through non-bypassable transition charges to customers taking delivery service from CenterPoint Houston. Any stranded costs not recovered through the securitization bonds will be recovered through a non-bypassable competition transition charge assessed to customers taking delivery service from CenterPoint Houston. In October 2001, one of our subsidiaries issued $749 million of transition bonds to securitize generation-related regulatory assets. These transition bonds have a final maturity date of September 15, 2015 and are non-recourse to us or our subsidiaries other than to the special purpose issuer. Payments on the transition bonds are made out of funds from non-bypassable transition charges assessed to customers taking delivery service from CenterPoint Houston. We expect that CenterPoint Houston will seek to securitize the true-up balance upon completion of the 2004 true-up proceeding. The securitization bonds may have a maximum maturity of 15 years. Payments on these securitization bonds would also be made out of funds from non-bypassable transition charges assessed to customers taking delivery service from CenterPoint Houston.
