Approved Seller definition

Approved Seller means a special purpose, bankruptcy remote, wholly-owned subsidiary of the Depositor which owns a portfolio of Loans that were pledged as collateral for one or more series of promissory notes issued by such subsidiary.

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Approved Seller means any Person, other than Medallion Funding, acceptable to the Agent in its sole and absolute discretion and approved in writing by the Agent, as seller of Medallion Loans to the Borrower pursuant to an Approved Purchase Agreement.

Approved Seller means, in relation to an Additional Ship, the seller of such Approved Ship and, in the plural, means any or all of them;

Examples of Approved Seller in a sentence

• Each of the Depositor and the Issuer are and are intended to be a legal entity separate and distinct from each Seller and Approved Seller for all purposes other than tax purposes.

• Each Pledged Loan, on the date on which it becomes a Pledged Loan, is an Eligible Loan and is (i) a Loan sold by a Seller to the Depositor under a Seller Purchase Agreement or (ii) a Loan sold by an Approved Seller to the Depositor under an Approved Sale Agreement.

• The Issuer hereby assigns to the Trustee its rights relating to the Pledged Loans under the Depositor Purchase Agreement including the rights assigned to the Issuer by the Depositor to payment due from the related Seller, or if applicable the related Approved Seller, for repurchases of Defective Loans (as such term is defined in the applicable Seller Purchase Agreement) resulting from the breach of representations and warranties under the applicable Seller Purchase Agreement or Approved Sale Agreement.

• The arrangement by this Indenture, the Seller Purchase Agreements, any Approved Sale Agreement, the Depositor Purchase Agreement, the Custodial Agreement, the Collateral Agency Agreement and the other Facility Documents is intended not to be a taxable mortgage pool for federal income tax purposes, and is intended to constitute a sale of the Loans by the applicable Seller or Approved Seller to the Depositor for commercial law purposes.

More Definitions of Approved Seller

Approved Seller means an approved seller under the applicable Guidelines.

Approved Seller. A Seller identified on Schedule VII thereto as such Schedule VII may be updated from time to time at the request of the initial Servicer with the prior written approval of the Administrative Agent (which approval shall not be unreasonably withheld and may be evidenced by an email confirmation).

Approved Seller means Westpac Banking Corporation (ARBN 007 457 141) or, other than in clauses 8.1, 8.2, 8.3, 8.5(b), 8.6, 8.7, 8.11, 8.12, 11, 33 and 37 of the Master Trust Deed, the Trustee in its capacity as trustee of the WST Warehouse Trust #1. Arrears subsist in relation to a Purchased Receivable if the Obligor under that Purchased Receivable fails to pay any amount due under that Purchased Receivable on the day it was due. Delayed payments arising from payment holidays based on early repayments (agreed in writing by Westpac), or from maternity or paternity leave repayment reductions, which are granted by Westpac or the Servicer will not, by themselves, lead to a Purchased Receivable being in Arrears.

Approved Seller means (i) with respect to Applicable CPF Trucks for the Group which includes the Series 2006-1 Notes, a Person who sells trucks to CPF that has been approved in writing by the Requisite Group Investors of such Group and (ii) with respect to Applicable CPF Trucks for any other Group, a Person (other than an Eligible Truck Manufacturer) who sells trucks to CPF and either (x) is identified in each Series Supplement for the Notes of a Group or (y) with respect to whom the Rating Agency Condition is satisfied for each Series of Notes in such other Group.

Approved Seller means a Person who sells trucks to BTF that has been approved in writing by the Requisite Investors.

Approved Seller means a seller of a portfolio of vehicle secured receivables approved by the Administrative Agent in its sole discretion.

Approved Seller means a Seller who has been approved by Bank as a Seller of Accounts pursuant to Section 5 of this Agreement.