Backed Notes definition

Backed Notes. (collectively, the "Notes"). This Trust Certificate is issued under and is subject to terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the Holder of this Trust Certificate, by virtue of its acceptance thereof, assents and by which such Holder is bound. The property of the Issuer includes, among other things, a pool of retail installment sale or conditional sale contracts for new and used Honda and Acura motor vehicles (collectively, the "Receivables"), all monies received on or in respect of the Receivables on or after [____ __, ____], security interests in the vehicles financed thereby, certain bank accounts and the proceeds thereof, proceeds from claims on certain insurance policies and certain other rights under the Trust Agreement and the Sale and Servicing Agreement and all proceeds of the foregoing. It is the intent of the Depositor, the Servicer and the Certificateholder that, solely for purposes of federal income, state and local income tax and any other income taxes, the Issuer will be treated as a disregarded entity not separate from the sole Certificateholder. The purchaser hereof, by acceptance of the Trust Certificates, agrees to treat, and to take no action inconsistent with the above treatment for so long as it is the sole Owner. Solely in the event the Trust Certificates are held by more than a single Owner, it is the intent of the Depositor, the Servicer and the Certificateholders that, solely for purposes of federal income, state and local income and single business tax and any other income taxes, the Issuer will be treated as a partnership and the Certificateholders will be treated as partners in the partnership. The purchaser hereof and the other Certificateholders, by acceptance of a Trust Certificate, agree to treat, and to take no action inconsistent with the treatment of, the Trust Certificates for such tax purposes as partnership interests in the Issuer. Each Certificateholder, by its acceptance of a Trust Certificate, covenants and agrees that such Certificateholder will not at any time institute against the Depositor, or join in any institution against the Depositor of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings , or other proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to the Trust Certificates, the Notes, the Trust Agreement or any other Basic Document. Distributions on this Trust C...

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Backed Notes. Class A-3 [______]% Asset Backed Notes" and "Class A-4 [______]% Asset Backed Notes" (collectively, the "Notes"). This Trust Certificate is issued under and is subject to terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the Holder of this Trust Certificate, by virtue of its acceptance thereof, assents and by which such Holder is bound. The property of the Issuer includes, among other things, a pool of retail installment sale or conditional sale contracts for new and used Honda and Acura motor vehicles (collectively, the "Receivables"), all monies received on or in respect of the Receivables on or after February 1, 2007, security interests in the vehicles financed thereby, certain bank accounts and the proceeds thereof, proceeds from claims on certain insurance policies and certain other rights under the Trust Agreement and the Sale and Servicing Agreement and all proceeds of the foregoing. It is the intent of the Depositor, the Servicer and the Certificateholder that, solely for purposes of federal income, state and local income tax and any other income taxes, the Issuer will be treated as a disregarded entity not separate from the sole Certificateholder. The purchaser hereof, by acceptance of the Trust Certificates, agrees to treat, and to take no action inconsistent with the above treatment for so long as it is the sole Owner. Solely in the event the Trust Certificates are held by more than a single Owner, it is the intent of the Depositor, the Servicer and the Certificateholders that, solely for purposes of federal income, state and local income and single business tax and any other income taxes, the Issuer will be treated as a partnership and the Certificateholders will be treated as partners in the partnership. The purchaser hereof and the other Certificateholders, by acceptance of a Trust Certificate, agree to treat, and to take no action inconsistent with the treatment of, the Trust Certificates for such tax purposes as partnership interests in the Issuer. Each Certificateholder, by its acceptance of a Trust Certificate, covenants and agrees that such Certificateholder will not at any time institute against the Depositor, or join in any institution against the Depositor of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to the Trust Certificates, the ...

Backed Notes. (the "Class A-1 Notes"), Class A-2 5.44% Asset-Backed Notes (the "Class A-2 Notes"), Class A-3 5.43% Asset-Backed Notes (the "Class A-3 Notes") and Class A-4 5.92% Asset-Backed Notes (the "Class A-4 Notes" and, together with the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes, the "Notes"): As security for the payment and performance by the Issuer of its obligations under this Indenture and the Notes, the Issuer has agreed to assign the Collateral (as defined below) as collateral to the Trustee for the benefit of the Noteholders. Financial Security Assurance Inc. (the "Note Insurer") has issued and delivered a financial guaranty insurance policy, dated the Closing Date (with endorsements, the "Note Policy"), pursuant to which the Note Insurer guarantees Scheduled Payments, as defined in the Note Policy. As an inducement to the Note Insurer to issue and deliver the Note Policy, the Issuer and the Note Insurer have executed and delivered the Insurance and Indemnity Agreement, dated as of September 27, 2007 (as amended from time to time, in accordance with the terms thereof, the "Insurance Agreement") among the Note Insurer, the Issuer, Consumer Portfolio Services, Inc., CPS Receivables Funding Trust and CPS Receivables Corp. (the "Seller") As an additional inducement to the Note Insurer to issue the Note Policy, and as security for the performance by the Issuer of the Issuer Secured Obligations (as defined below) the Issuer has agreed to assign the Collateral (as defined below) as collateral to the Trustee for the benefit of the Issuer Secured Parties (as defined below), as their respective interests may appear. GRANTING CLAUSE The Issuer hereby Grants to the Trustee at the Closing Date, for the benefit of the Issuer Secured Parties, all right, title and interest of the Issuer, whether now existing or hereafter arising, in and to the following:

Examples of Backed Notes in a sentence

• This Note is duly authorized by the Issuer pursuant to the Indenture, and is designated as its Equipment Contract Backed Notes, Series 2011-1 (herein called the “Notes”) issued and to be issued under the Indenture, dated as of January 6, 2011 (as amended, modified, or supplemented from time to time, the “Indenture”), between the Issuer and U.S. Bank National Association, as Trustee and Custodian.

• This Note is one of a duly authorized issue of Class [A][B][C] [_]% Asset Backed Notes (the “Class [A][B][C] Notes”) of the Trust.

• The Sponsor has filed with the Securities and Exchange Commission (the “Commission”), a registration statement (No. 333-109964) on Form S-3 for the registration under the Securities Act of 1933, as amended (the “Act”), of Asset Backed Notes and Certificates (issuable in series), which registration statement, as amended at the date hereof, has become effective.

• During the Centre’s first five years of operation the annual budget of the Centre shall be funded by the annual contributions made by the Members in accordance with paragraph 2 of Article 6 of this Agreement and Annex I to this Agreement.

• Issued under the Indenture are three classes of notes designated as “ % Harley-Davidson Motorcycle Contract Backed Notes, Class A-1”, “ % Harley-Davidson Motorcycle Contract Backed Notes, Class A-2” and “ % Harley-Davidson Motorcycle Contract Backed Notes, Class B” (collectively, the “Notes”).

• This Note is one of a duly authorized issue of Notes of the Issuer, designated as its 0.38% Asset Backed Notes, Class A–3 (herein called the “Class A–3 Notes”), all issued under the Indenture, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Indenture Trustee and the Holders of the Notes.

• This Note is one of a duly authorized issue of Notes of the Issuer, designated as its [____]% Asset Backed Notes, Class A-4 (herein called the “Class A-4 Notes”), all issued under the Indenture, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Indenture Trustee and the Holders of the Notes.

• This Note is one of a duly authorized issue of Class [A-1a][A-1b][B][C] [Compounded SOFR +] [_]% Asset Backed Notes (the “Class [A-1a][A-1b][B][C] Notes”) of the Trust.

• Date: ____________, 20[__] DEUTSCHE BANK NATIONAL TRUST COMPANY, not in its individual capacity but solely as Indenture Trustee By: as Authenticating Agent This Note is one of the duly authorized Class [__] Notes of the Issuer, designated as its Advance Receivables Backed Notes, Series [ ], Class [__] (herein called the “Class [__] Notes”), all issued under the Indenture.

• The Issuer has duly authorized the execution and delivery of this Indenture to provide for its Mortgage Backed Notes, Series 200 - (the "Notes"), issuable as provided in this Indenture.

More Definitions of Backed Notes

Backed Notes. (the "Class A-3b Notes") in the aggregate principal amount of $240,891,000, and one class of 6.88% Class A-4 Lease-Backed Notes, Series 1999-2 in the aggregate principal amount of $72,278,000 (the "Class A-4 Notes" and, together with the Class A-1 Notes, the Class A-2 Notes, the Class A-3a Notes and the Class A-3b Notes, the "Notes"), the net proceeds of which are being used to fund the Reserve Account established pursuant to the Indenture and to make distributions by the Issuer to the Seller and by the Seller to the Originator.

Backed Notes. (the "Class B Notes" and together with the Class A Notes, the "Notes"). The First National Bank of Chicago, a national banking association, acts as eligible lender trustee (the "Eligible Lender Trustee") of the Trust. On the Closing Date, Financed Student Loans (as defined in the Transfer and Servicing Agreement defined below) will have been transferred to the Eligible Lender Trustee on behalf of the Trust by the Bank. The Notes will be issued under an indenture dated as of March 27, 1997 (the "Master Indenture") between the Trust and Bankers Trust Company, as indenture trustee ("Indenture Trustee"), as supplemented by a related Second Terms Supplement (the "Second Terms Supplement" and collectively with the Master Indenture, the "Indenture"). Upon issuance, the Notes will be secured by, among other things, Financed Student Loans pledged to the Indenture Trustee and described in the Prospectus (as defined in Section 3 below). This Agreement, the Transfer and Servicing Agreement, the Indenture, the Administration Agreement and the Trust Agreement shall collectively hereinafter be referred to as the "Basic Documents." Capitalized terms used herein without definition shall have the meanings ascribed to them in the Transfer and Servicing Agreement dated as of June ____, 1997, (the "Transfer and Servicing Agreement") among the Trust, the Bank and the Eligible Lender Trustee.

Backed Notes. (the "Class A-4 Notes") and $85,500,000 aggregate principal amount of Class A-5 6.500% Asset Backed Notes (the "Class A-5 Notes" and, together with the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, and the Class A-4 Notes, the "Notes"), pursuant to the Indenture to be dated as of February 28, 1997 (as amended and supplemented from time to time, the "Indenture"), between the Trust and Norwest Bank Minnesota, National Association, as indenture trustee (the "Indenture Trustee"), which will be sold pursuant to an underwriting agreement dated the date hereof (the "Note Underwriting Agreement"; together with this Agreement, the "Underwriting Agreements") among the Bank and the underwriters named therein (the "Note Underwriters"). The Notes and the Certificates are sometimes referred to collectively herein as the "Securities". Capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Sale and Servicing Agreement to be dated as of February 28, 1997 (as amended and supplemented from time to time, the "Sale and Servicing Agreement"), between the Trust and the Bank, as Seller and Servicer. This is to confirm the agreement concerning the purchase of the Certificates from the Bank by the Underwriter.