Contingent Collateral definition

Contingent Collateral means, on any Business Day, in respect of the Covered Bond Swap Agreement or the Interest Rate Swap Agreement, the Loans and Related Security and the Substitute Assets of the Guarantor in an aggregate amount equal to the Contingent Collateral Amount in respect of the related Swap Agreement, provided that (i) in determining the value of (x) the Loans and Related Security, the LTV Adjusted Loan Balance thereof is used and (y) the Substitute Assets, the Trading Value thereof is used, and (ii) such Loans, Related Security and Substitute Assets are excluded from the determination of the Asset Coverage Test and/or the Amortization Test, as applicable;
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Contingent Collateral means, on any Business Day, in respect of the Covered Bond Swap Agreement or the Interest Rate Swap Agreement, the Loans and Related Security and the Substitute Assets of the Guarantor in an aggregate amount equal to the Contingent Collateral Amount in respect of the related Swap Agreement, provided that (i) in determining the value of
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Contingent Collateral means, on any Business Day, in respect of the Covered Bond Swap Agreement or the Interest Rate Swap Agreement and only if permitted under the applicable Swap Agreement, the Loans and Related Security and the Substitute Assets of the Guarantor in an aggregate amount equal to the Contingent Collateral Amount in respect of the related Swap Agreement, provided that (i) in determining the value of (x) the Loans and Related Security, the LTV Adjusted Loan Balance thereof is used and (y) the Substitute Assets, the Trading Value thereof is used, and (ii) such Loans, Related Security and Substitute Assets are excluded from the determination of the Asset Coverage Test and/or the Amortization Test, as applicable;
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Examples of Contingent Collateral in a sentence

  • Such excess collateral, excluding, for certainty, any Contingent Collateral, is the “Voluntary Overcollateralization”.

  • A Contingent Collateral Notice may only be delivered if the balance of the Demand Loan (determined in accordance with Section 3.2 without regard to the related Contingent Collateral Amount) at such time exceeds the related Contingent Collateral Amount.

  • In all events, copies of any amendments to this Agreement shall be promptly provided to (x) the Collateral Value Insurer prior to the occurrence of a Credit Event and (y) the Contingent Collateral Value Insurer following the occurrence of a Credit Event, by the Assignee following execution thereof.

  • Each of the parties hereto agrees that the Collateral Value Insurer and the Contingent Collateral Value Insurer are third party beneficiaries solely with respect to this Section 14, and shall have no rights with respect to any other provisions of this Assignment Agreement.

  • Terms defined in the Intercompany Loan Agreement, whether directly or by reference, shall have the same meaning in this Contingent Collateral Notice.

  • Each of the parties hereto agrees that the Collateral Value Insurer and the Contingent Collateral Value Insurer are third party beneficiaries solely with respect to this Section 9.01, and shall have no rights with respect to any other provisions of this Agreement.

  • Notwithstanding the provisions of Section 2.05(d), Section 4.04(b) or any other provision of this Agreement, on each date which Collections are received with respect to any Insurance Premium Loan for which there are Salvage Collections, the Borrower, the Lenders or the Agents shall, to the extent received by them, distribute such Salvage Collections on such date to the Collateral Value Insurer or the Contingent Collateral Value Insurer, as applicable, that paid the claim to the Borrower.

  • Notwithstanding the provisions of Section 2.05(d), Section 4.03(b) or any other provision of this Agreement, on each date which Collections are received with respect to any Insurance Premium Loan for which there are Salvage Collections, the Borrower, the Lenders or the Agents shall, to the extent received by them, distribute such Salvage Collections on such date to the Collateral Value Insurer or the Contingent Collateral Value Insurer that paid the claim to the Borrower.

  • The Borrower shall not, without prior written consent of the Collateral Agent, grant any extension of time of payment of any Insurance Premium Loan or payments under the Collateral Value Policy or Contingent Collateral Value Policy, compromise or settle any Insurance Premium Loan for less than the full amount thereof, release, in whole or in part, any Person or property liable for the payment thereof, or allow any credit or discount whatsoever thereon.

  • The claims paying ability of the Contingent Collateral Value Insurer shall be rated at least AA+ by Standard & Poor’s and at least AA+ by Fitch, Inc.


More Definitions of Contingent Collateral

Contingent Collateral means, for any day, the aggregate amount of all Acceptable Letters of Credit, together with all Contingent Cash Collateral, posted by or on behalf of the Sleeve Obligors to the Merrill Parties pursuant to clauses (a)(i)(2) or (a)(ii)(B) of Section 10, which as of such day has not theretofore been applied or used by the Merrill Parties to satisfy any Credit Sleeve Obligation or otherwise returned to NRG.
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