Conduit Debt definition

Conduit Debt means any debt of a special purpose entity that is consolidated on Parent's financial statements in accordance with GAAP, provided that (i) the proceeds of such debt are used by such special purpose entity to make loans to, or to purchase assets from, any Person that is not an Affiliate of Parent, in the ordinary course of business and (ii) such debt and/or payment with respect to accounts receivable and other assets underlying such debt are guaranteed by Corp., in the ordinary course of business.
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Conduit Debt. Any obligation (other than Mortgage Secured Financings) that would constitute Debt of a special purpose entity or a trust established by the Parent Guarantor or any Subsidiary that is consolidated on the Parent Guarantor’s financial statements in accordance with GAAP, whether or not such obligation is guaranteed in whole or in part by the Parent Guarantor and/or any Subsidiary and whether or not such obligation is with recourse to the Parent Guarantor and/or any Subsidiary, provided that the proceeds of such obligation are used by such special purpose entity or trust to make loans to, or to purchase assets from, the Parent Guarantor, any Subsidiary or any Affiliate of the Parent Guarantor or any Subsidiary, or other Person, in the ordinary course of business (it being understood that securitization and similar transactions involving special purpose entities or trusts established by the Parent Guarantor or any Subsidiary are in the ordinary course of business).
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Conduit Debt means any debt of a special purpose entity or Subsidiary that is consolidated on the Borrower’s financial statements in accordance with GAAP, provided that (i) the proceeds of such debt are used by such special purpose entity or Subsidiary to make loans to, or to purchase assets from, any Person that is not an Affiliate of the Borrower, in the ordinary course of business and (ii) such debt and/or payment with respect to accounts receivable and other assets underlying such debt are guaranteed by the Borrower, Radian Asset Assurance, Inc. or another Insurance Subsidiary, in the ordinary course of business.
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Examples of Conduit Debt in a sentence

  • In May 2019, the GASB issued GASB Statement No. 91, Conduit Debt Obligations.

  • In May 2019, GASB issued Statement No. 91, Conduit Debt Obligations.

  • GASB has issued Statement No. 91, Conduit Debt Obligations, effective for the year ending June 30, 2023.

  • In May 2019, the GASB issued Statement No. 91, Conduit Debt Obligations.

  • GASB 91 - Conduit Debt Obligations: The primary objectives of this Statement are to provide a single method of reporting conduit debt obligations by issuers and eliminate diversity in practice.

  • Conduit Debt Obligations was issued in May 2019 and is effective for the first reporting period beginning after December 15, 2020, meaning for those with year ends of December 31, 2021 and beyond.

  • Governmental Accounting Standards Board (GASB) Statement No. 91In May 2019, the GASB issued Statement No. 91 – Conduit Debt Obligations.

  • GASB Statement No. 91 – In May 2019, GASB issued Statement No. 91, Conduit Debt Obligations.

  • Conduit Debt From time to time the county has issued bonds to provide financial assistance to various entities for the acquisition and construction of industrial and commercial facilities deemed to be in the public interest, in accordance with KRS 103.210.

  • GASB has issued Statement No. 91, Conduit Debt Obligations, which will be effective for reporting periods beginning after December 15, 2021.


More Definitions of Conduit Debt

Conduit Debt means that certain non-recourse loan from the Conduit Lender to the Special Purpose Entity in the original principal amount of $71,000,000, evidenced by a promissory note executed by the Special Purpose Entity, dated November 3, 1998, and payable to the Conduit Lender.
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Conduit Debt means any obligation (other than Mortgage Secured Financings) that would constitute Indebtedness of a special purpose entity or a trust established by the Borrower or any Subsidiary that is consolidated on the Borrower’s financial statements in accordance with GAAP, whether or not such obligation is guaranteed in whole or in part by the Borrower and/or any Subsidiary and whether or not such obligation is with recourse to the Borrower and/or any Subsidiary, provided that the proceeds of such obligation are used by such special purpose entity or trust to make loans to, or to purchase assets from, the Borrower, any Subsidiary or any Affiliate of the Borrower or any Subsidiary, or other Person, in the Ordinary Course of Business (it being understood that securitization and similar transactions involving special purpose entities or trusts established by the Borrower or any Subsidiary are in the Ordinary Course of Business).
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Conduit Debt means any obligation (other than Mortgage Secured Financings) that would constitute Debt of a special purpose entity or a trust established by the Guarantor or any Subsidiary that is consolidated on the Guarantor’s financial statements in accordance with GAAP, whether or not such obligation is guaranteed in whole or in part by the Guarantor and/or any Subsidiary and whether or not such obligation is with recourse to the Guarantor and/or any Subsidiary, provided that the proceeds of such obligation are used by such special purpose entity or trust to make loans to, or to purchase assets from, the Guarantor, any Subsidiary or any Affiliate of the Guarantor or any Subsidiary, or other Person, in the ordinary course of business (it being understood that securitization and similar transactions involving special purpose entities or trusts established by the Guarantor or any Subsidiary are in the ordinary course of business).
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Conduit Debt means non-recourse Debt of a Person payable solely from loan or lease payments made to such Person by another Person and reserves funded from the proceeds of such loan or lease, provided that other Person is not an Affiliate of such first Person.
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Conduit Debt means any obligation that would constitute Debt of a special purpose entity or Subsidiary (including a trust) that is consolidated on the Borrower’s financial statements in accordance with GAAP, whether or not such obligation is guaranteed in whole or part by the Borrower, Radian Asset Assurance, Inc. or another Insurance Subsidiary, provided that the proceeds of such obligation are used by such special purpose entity or Subsidiary to make loans to, or to purchase assets from, the Borrower, any Subsidiary or Affiliate of the Borrower, or any Person that is not an Affiliate of the Borrower, in the ordinary course of business (it being understood that securitization and similar transactions involving special purpose entities or Subsidiaries are in the ordinary course of business).
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Conduit Debt means any obligation that would constitute Indebtedness of a special purpose entity or a trust established by the Borrower or any Subsidiary that is consolidated on the Borrower’s financial statements in accordance with GAAP, whether or not such obligation is guaranteed in whole or in part by the Borrower and/or any Subsidiary and whether or not such obligation is with recourse to the Borrower and/or any Subsidiary, provided that the proceeds of such obligation are used by such special purpose entity or trust to make loans to, or to purchase assets from, the Borrower, any Subsidiary or any Affiliate of the Borrower or any Subsidiary, or other Person, in the Ordinary Course of Business (it being understood that securitization and similar transactions involving special purpose entities or trusts established by the Borrower or any Subsidiary are in the Ordinary Course of Business).
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Related to Conduit Debt

  • Conduit Credit Enhancer shall have the meaning assigned to such term in Section 14(d).

  • Refinanced Indebtedness shall have the meaning provided in the definition of the term “Permitted Refinancing Indebtedness”.

  • Securitization Indebtedness means (i) Indebtedness of the Company or any of its Restricted Subsidiaries incurred pursuant to on-balance sheet Securitizations treated as financings and (ii) any Indebtedness consisting of advances made to the Company or any of its Restricted Subsidiaries based upon securities issued by a Securitization Entity pursuant to a Securitization and acquired or retained by the Company or any of its Restricted Subsidiaries.

  • Conduit Lender any special purpose corporation organized and administered by any Lender for the purpose of making Loans otherwise required to be made by such Lender and designated by such Lender in a written instrument; provided, that the designation by any Lender of a Conduit Lender shall not relieve the designating Lender of any of its obligations to fund a Loan under this Agreement if, for any reason, its Conduit Lender fails to fund any such Loan, and the designating Lender (and not the Conduit Lender) shall have the sole right and responsibility to deliver all consents and waivers required or requested under this Agreement with respect to its Conduit Lender, and provided, further, that no Conduit Lender shall (a) be entitled to receive any greater amount pursuant to Section 2.18, 2.19, 2.20 or 10.5 than the designating Lender would have been entitled to receive in respect of the extensions of credit made by such Conduit Lender or (b) be deemed to have any Commitment.

  • Subordinated Lenders means the holders of Subordinated Debt.

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • Conduit Purchaser means each commercial paper conduit that is or becomes a party to this Agreement in the capacity of a “Conduit Purchaser”.

  • First Lien Loans means the “Loans” (or any comparable term) as defined in the First Lien Credit Agreement.

  • Refinanced Debt has the meaning assigned to such term in the definition of “Credit Agreement Refinancing Indebtedness.”

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Conduit Inventory Loan shall have the meaning assigned to such term in Section 14(d).

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Subordinated Lender means each Seller, in its capacity as subordinated lender pursuant to the relevant Subordinated Loan Agreement.

  • Subordinated Amount As of any Distribution Date, the excess, if any, of (a) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date over (b) the aggregate of the Class Certificate Balances of the LIBOR Certificates as of such Distribution Date (after giving effect to the payment of the Principal Remittance Amount on such Certificates on such Distribution Date).

  • Refinanced Loans has the meaning specified in Section 10.01.

  • Subordinated Prepayment Percentage As to any Distribution Date, 100% minus the Senior Prepayment Percentage for such Distribution Date.

  • Subordinate Lender means the person or entity named as such in the first paragraph of this Agreement and any other person or entity who becomes the legal holder of the Subordinate Note after the date of this Agreement.

  • Attributable Receivables Indebtedness at any time means the principal amount of Indebtedness which (i) if a Permitted Receivables Facility is structured as a secured lending agreement, would constitute the principal amount of such Indebtedness or (ii) if a Permitted Receivables Facility is structured as a purchase agreement, would be outstanding at such time under the Permitted Receivables Facility if the same were structured as a secured lending agreement rather than a purchase agreement.

  • Subordinate Prepayment Percentage As to any Distribution Date, 100% minus the Senior Prepayment Percentage for such Distribution Date.

  • Permitted Receivables Documents means all documents and agreements evidencing, relating to or otherwise governing a Permitted Receivables Financing.

  • Related Indebtedness means any and all indebtedness paid or payable by Borrower to Administrative Agent or any Lender pursuant to any Loan Document other than any Note.

  • Cross-Collateralized Mortgage Loan Any Mortgage Loan, that is, by its terms, cross-defaulted and cross-collateralized with any other Mortgage Loan; provided that the Mortgage Loans that are part of any Loan Combination shall not constitute Cross-Collateralized Mortgage Loans.

  • Principal Debt means, at any time, the unpaid principal balance of all Borrowings.

  • Credit Enhancement Percentage For any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the sum of the aggregate Certificate Principal Balances of the Mezzanine Certificates and the Class CE Certificates, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans, calculated after taking into account distributions of principal on the Mortgage Loans and distribution of the Principal Distribution Amount to the Certificates then entitled to distributions of principal on such Distribution Date.

  • First Lien Loan Documents means the “Loan Documents” as defined in the First Lien Credit Agreement.

  • Second Lien Loan Documents means the Second Lien Credit Agreement and the other “Loan Documents” under and as defined in the Second Lien Credit Agreement, as each such document may be amended, renewed, restated, supplemented or otherwise modified from time to time.