ABS Structured Settlement or Lottery Securities definition
ABS Structured Settlement or Lottery Securities means Asset-Backed Securities that entitle the holders thereof to receive payments that depend (except for rights or other assets designed to assure the servicing or timely
ABS Structured Settlement or Lottery Securities means Asset-Backed Securities that entitle the holders thereof to receive payments that depend (except for rights or other assets designed to assure the servicing or timely distribution of proceeds to holders of the Asset-Backed Securities) on the cash flow from an annuity, generally having the following characteristics: (1) the receivables are backed by existing annuity contracts or obligations to pay lottery winnings; (2) the receivables are subject to the credit risk of the provider of such annuity; and (3) the receivables represent obligations from a limited number of obligors and accordingly represent an undiversified pool of obligor credit risk.