ABS Obligation definition

ABS Obligation means any security or other obligation that is (i) issued by a trust or entity created for the special purpose of issuing such security or obligation (regardless of whether it may also issue others of the same or another series or class), (ii) secured by specific assets transferred to such trust or entity by AHFC in connection with the issuance of such security or obligation, and (iii) payable by its terms solely from specified assets (including such security) of such trust or entity and, if applicable, specified third party credit support.
Sample 1Sample 2Sample 3
ABS Obligation means any security or other obligation that is (i) issued by a trust or entity created for the special purpose of issuing such security or obligation (regardless of whether it may also issue others of the same or another series or class), (ii) secured by specific assets transferred to such trust or entity by the Corporation or any of its Subsidiaries in connection with the issuance of such security or obligations, and (iii) payable by its terms solely from specified assets (including such security) of such trust or entity and, if applicable, specified third-party credit support. In addition, “Nonrecourse” in respect of the Corporation (or any of its Subsidiaries) and any ABS Obligation means that the Corporation or any such Subsidiary has no obligation in respect of any payment due on such ABS Obligation and the holders thereof have so agreed (or are deemed to have so agreed by acquiring such ABS Obligation).
Sample 1Sample 2
ABS Obligation means any security or other obligation that is (i) issued by a trust or entity created for the special purpose of issuing such security or obligation (regardless of whether it may also issue others of the same or another class or series) and (ii) secured by specific assets transferred directly or indirectly to such trust or entity by us or a Subsidiary.
Sample 1Sample 2Sample 3

Examples of ABS Obligation in a sentence

  • The Rating Agencies may downgrade any of the Rated Notes if a borrower of an ABS Obligation or, if applicable, the entity guaranteeing theperformance of such borrower has been downgraded by any of the Rating Agencies such that the Issuer is not in compliance with the Securities Lending Counterparty Rating Requirement.

  • Non-Euro Obligations, Asset Swap TransactionsSubject to the Eligibility Criteria, the Issuer may purchase any ABS Obligation that is not denominated in Euro but is denominated in a Permitted Currency (each, a "Non-Euro Obligation").

  • The decision by any prospective holder of Notes to invest in such Notes should be based, among other things (including, without limitation, the identity of the Portfolio Manager), on the Eligibility Criteria which each ABS Obligation is required to satisfy, as disclosed in this Prospectus and on the Percentage Limitations, Collateral Quality Tests, Coverage Tests and Target Par Amount that the Portfolio is required to satisfy as at the Effective Date and thereafter.

  • However, in the event that the borrower of the loaned ABS Obligations defaults, the Noteholders could suffer a loss to the extent that the realised value of the cash or securities securing the obligation of such borrower to return a loaned ABS Obligation (less expenses) is less than the amount required to purchase such ABS Obligations in the open market.

  • As a result, a shortfall in payments to holders of subordinated ABS Obligations will generally not result in a default being declared on the transaction and the restructuring of the same.Finally, because subordinated ABS Obligations may represent a relatively small percentage of the size of the asset pool being securitised, the impact of a relatively small loss on the overall pool may be substantial on the individual subordinated ABS Obligation.

  • The project has been designed to complete points of connection between this undeveloped site and the surrounding properties.

  • To the extent that a default occurs with respect to any ABS Obligation securing the Notes and the Issuer sells or otherwise disposes of such ABS Obligation, it is likely that the proceeds of such sale or disposition will be less than the unpaid principal and interest thereon.The financial markets may experience substantial fluctuations in prices for ABS Obligations and limited liquidity for such obligations.

  • The Prospectus does not contain any information in respect of any individual ABS Obligation to be included in the Portfolio on or after the Closing Date.

  • No adjustment will be made in respect of any changes in the market price of any ABS Obligation between the date of purchase thereof and the Closing Date.

  • The offering materials in respect of the issue of ABS Obligations may contain extensive risk factors and other considerations associated with an investment in such ABS Obligation, which may include both generic risks and risks specific to the particular structure or asset class of an ABS Obligation.


More Definitions of ABS Obligation

ABS Obligation means any security or other obligation that is (i) issued by a trust or entity created for the special purpose of issuing such security or obligation (regardless of whether it may also issue others of the same or another series or class), (ii) secured by specific assets transferred to such trust or entity by the Company in connection with the issuance of such security or obligation, and (iii) payable by its terms solely from specified assets (including such security) of such trust or entity and, if applicable, specified third party credit support.
Sample 1
ABS Obligation means any security or other obligation that is (i) issued by a trust or entity created for the special purpose of issuing such security or obligation (regardless of whether it may also issue others of the same or
Sample 1
ABS Obligation means any Asset Backed Security or Synthetic Security purchased, acquired or, as the case may be, entered into by or on behalf of the Issuer from time to time (or, if the context so requires, to be purchased, acquired or to be entered into by or on behalf of the Issuer) each of which satisfies the Eligibility Criteria at the time a binding commitment was made to enter into, purchase or acquire suchAsset Backed Security or Synthetic Security (or at such other time provided in the Portfolio Management Agreement), in the case of Synthetic Securities and Non-Euro Obligations, to the extent required to do so. References to ABS Obligations shall not include Eligible Investments. For the avoidance of doubt, the failure of any obligation to satisfy the Eligibility Criteria at any time after the Issuer or the Portfolio Manager on behalf of the Issuer has entered into a binding agreement to enter into, purchase or acquire it (or after such other time provided in the Portfolio Management Agreement), shall not cause such obligation to cease to constitute an ABS Obligation. For the avoidance of doubt, a Loaned ABS Obligation shall not cease to constitute an ABS Obligation.
Sample 1
ABS Obligation means a Debt Obligation that is identified as “ABS” in the Schedule of Debt Obligations.
Sample 1

Related to ABS Obligation

  • Obligations means any principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities payable under the documentation governing any Indebtedness.

  • Financial Obligation means a (i) debt obligation; (ii) derivative instrument entered into in connection with, or pledged as security or a source of payment for, an existing or planned debt obligation; or (iii) guarantee of (i) or (ii). The term Financial Obligation shall not include municipal securities as to which a final official statement has been provided to the MSRB consistent with the Rule.

  • Compliance Obligations means obligations of the AMC to comply with: (a) laws or international guidance and internal policies or procedures, (b) any demand or request from authorities or reporting, disclosure or other obligations under laws, and (c) laws requiring us to verify the identity of our customers.

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.