Credit Enhancement Instrument definition

Credit Enhancement Instrument means the Credit Enhancement Instrument, dated the date of initial issuance of the 2005 Bonds, executed and delivered by Fannie Mae to the Trustee, as such Credit Enhancement Instrument may be amended, modified, supplemented or restated from time to time.
Sample 1
Credit Enhancement Instrument means the Irrevocable Transferable Credit Enhancement Instrument issued and delivered by Xxxxxx Xxx to any Trustee for credit enhancement and liquidity support with respect to an issue of Bonds, as each may be amended, modified or supplemented from time to time.
Sample 1
Credit Enhancement Instrument. The surety bond number ______, dated as of the Closing Date, issued by the Credit Enhancer to the Indenture Trustee for the benefit of the Bondholders.
Sample 1

Examples of Credit Enhancement Instrument in a sentence

  • Upon receipt of the items referred to above and payment of all amounts owing to the Credit Enhancer and the taking of physical possession of the new credit enhancement, the Indenture Trustee shall, within five Business Days following receipt of such items and such taking of physical possession, deliver the replaced Credit Enhancement Instrument to the Credit Enhancer.

  • In addition, a draw may be made under the Credit Enhancement Instrument in respect of any Avoided Payment (as defined in and pursuant to the terms and conditions of the Credit Enhancement Instrument) and the Indenture Trustee shall submit a Notice for Payment with respect thereto together with the other documents required to be delivered to the Credit Enhancer pursuant to the Credit Enhancement Instrument in connection with a draw in respect of any Avoided Payment.

  • The Depositor will also provide the Trust with the Credit Enhancement Instrument.

  • Upon receipt of such Credit Enhancement Draw Amount in accordance with the terms of the Credit Enhancement Instrument, the Indenture Trustee shall deposit such Credit Enhancement Draw Amount in the Payment Account for distribution to Holders (and the Certificate Paying Agent on behalf of the Certificates) pursuant to Section 3.05.

  • Unless the prior written consent of the Credit Enhancer shall have been obtained by the Indenture Trustee, the Payment Date upon which such accelerated payment is due and payable shall not be a Payment Date under the Credit Enhancement Instrument and the Indenture Trustee shall not be authorized under Section 3.29 to make a draw therefor.

  • Event of Default," wherever used herein, shall have the meaning provided in Article I; provided, however, that no Event of Default will occur under clause (i) or clause (ii) of the definition of "Event of Default" if the Issuer fails to make payments of principal of and interest on the Notes so long as the Credit Enhancer makes payments sufficient therefore under the Credit Enhancement Instrument.

  • The foregoing Grant shall inure to the benefit of the Credit Enhancer in respect of draws made on the Credit Enhancement Instrument and amounts owing from time to time pursuant to the Insurance Agreement (regardless of whether such amounts relate to the Notes or the Certificates), and such Grant shall continue in full force and effect for the benefit of the Credit Enhancer until all such amounts owing to it have been repaid in full.

  • The Owner Trustee also acknowledges on behalf of the Issuer, the receipt in trust of the Home Loans and a Credit Enhancement Instrument assigned to the Trust pursuant to Section 3.01, which shall constitute the Owner Trust Estate.

  • Unless the prior written consent of the Credit Enhancer shall have been obtained by the Indenture Trustee, the Payment Date upon which such accelerated payment is due and payable shall not be a Payment Date under the Credit Enhancement Instrument and the Indenture Trustee shall not be authorized under Section 3.28 to make a draw therefor.

  • This Servicing Agreement may be amended from time to time by the parties hereto, provided that any amendment be accompanied by a letter from the Rating Agencies that the amendment will not result in the downgrading or withdrawal of the rating then assigned to the Securities, if determined without regard to the Credit Enhancement Instrument, and the consent of the Credit Enhancer and the Indenture Trustee.


More Definitions of Credit Enhancement Instrument

Credit Enhancement Instrument means this Credit Enhancement Instrument as the same may be amended, supplemented or restated from time to time.
Sample 1
Credit Enhancement Instrument. The Certificate Guaranty Insurance Policy number AB0696BE, dated as of the Closing Date, issued by the Credit Enhancer to the Indenture Trustee.
Sample 1
Credit Enhancement Instrument. The certificated insurance policy, dated as of the Closing Date, issued by the Credit Enhancer to the Indenture Trustee for the benefit of the Noteholders.
Sample 1
Credit Enhancement Instrument means the Direct Pay Irrevocable Transferable Credit Enhancement Instrument, dated the date of initial issuance of the 2006 Series A Bonds, issued by Fannie Mae for the benefit of the 2006 Series A Bonds.
Sample 1

Related to Credit Enhancement Instrument

  • Credit Enhancement Agreement means the Agreement among the Sellers, the Master Servicer, the Trustee and the Credit Enhancement Provider with respect to the Credit Enhancement.

  • Credit Enhancement Agreements means, collectively, any documents, instruments, guarantees or agreements entered into by the Issuer, any of its Restricted Subsidiaries or any Securitization Entity for the purpose of providing credit support (that is reasonably customary as determined by Issuer’s senior management) with respect to any Permitted Funding Indebtedness or Permitted Securitization Indebtedness.

  • Credit Enhancement means, with respect to this Confirmation or any other Relevant Agreement, any credit enhancement or other credit support arrangement in support of the obligations of Dealer or Counterparty hereunder or thereunder or with respect hereto or thereto, including any guarantee or collateral arrangement (including any pledge, charge, mortgage or other security interest in collateral or title transfer arrangement), trust or similar arrangement, letter of credit, transfer of margin or any similar arrangement.

  • Credit Enhancement Provider means, with respect to any Securities, any person issuing, funding or otherwise making available, for the benefit of Securityholders or any party to a Serviced Corporate Trust Contract, an asset as an enhancement of the credit quality or liquidity of any Securities or the mortgage assets or other assets pledged for or underlying such Securities, such as a letter of credit, surety bond, insurance policy, guaranty, reserve fund pledge or collateral undertaking.

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company, or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee or Trust Agent, as the case may be, may draw thereupon in the event the Servicer satisfies the Monthly Remittance Condition but fails to deposit SUBI Collections into the 20[●]-[●] SUBI Collection Account by the related Deposit Date.

  • Credit Support Instrument The instrument or document pursuant to which the Credit Support for a given Series (or Class within such Series) is provided, as specified in the applicable Supplement.

  • Payment instrument means any personalised device(s) and/or set of procedures agreed between the payment service user and the payment service provider and used in order to initiate a payment order;

  • Credit Enhancements means surety bonds, insurance policies, letters of credit, guarantees and other

  • Credit Support Instruments has the meaning set forth in Section 3.01(a).

  • Eligible Letter of Credit means, as of any date of determination thereof, a Commercial Letter of Credit which supports the purchase of Inventory, (a) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued; (b) which Inventory otherwise would constitute Eligible Inventory when purchased, (c) which Commercial Letter of Credit has an expiry within sixty (60) days of the date of initial issuance of such Commercial Letter of Credit, (d) which Commercial Letter of Credit provides that it may be drawn only after the Inventory is completed and after a document of title reasonably acceptable to the Agent has been issued for such Inventory reflecting a Borrower or the Agent as consignee of such Inventory, and (e) which will constitute Eligible In-Transit Inventory upon satisfaction of the requirements of clause (d) hereof.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • QFC Credit Support has the meaning specified in Section 11.21.

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Credit Enhancer means a financial institution, insurer or other third party which provides a Credit Enhancement or guarantee instrument acceptable to the Corporation securing repayment of the Mortgage Loan or Bonds issued pursuant to the MMRB Program.

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

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the Borrowers' obligations to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • U.S. Letter of Credit means any Letter of Credit issued hereunder for the purpose of providing credit support for any U.S. Borrower, any Domestic Subsidiary or any Foreign Subsidiary.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank's Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • Credit Facility Agreement means any agreement pursuant to which a Credit Facility Issuer issues a Credit Facility.