Electronic Chattel Paper Condition definition

Electronic Chattel Paper Condition means the delivery to the Administrative Agent of a legal opinion in a form acceptable to the Administrative Agent from a nationally recognized law firm to the effect that the Collateral Agent’s security interest in any Receivables that constitute electronic chattel paper under the UCC has been perfected by control pursuant to Section 9-105 of the UCC, other than any Specified Electronic Contracts.
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Electronic Chattel Paper Condition means the delivery to the Administrative Agent of a legal opinion in a form acceptable to the Administrative Agent from a nationally recognized law firm to the effect that the Collateral Agent’s security interest in any Receivables that constitute electronic chattel paper under the UCC has been perfected by control pursuant to Section 9-105 of the UCC, other than any Specified Electronic Contracts. “Electronic Collateral Control Agreement” means the Electronic Collateral Control Agreement, dated after the Closing Date, in a form acceptable to the Administrative Agent, to be among the Collateral Agent, for itself and other secured parties, the Borrower, as a debtor, the Borrower Loan Trustee, and the Electronic Vault Provider. “Electronic Contract” shall mean a Contract that constitutes “Electronic Chattel Paper”. “Electronic Vault” shall mean the electronic vault wherein custody of Electronic Contracts shall be maintained in electronic form through a third-party Electronic Vault Provider that enables electronic contracting pursuant to the Electronic Vault Services Agreement. “Electronic Vault Provider” shall mean DHI Computing Service, Inc., or such other a third- party provider of the technology platform on which the Electronic Vault operates, acting in such capacity with the consent of the Administrative Agent (with the written consent of the Required Lenders).
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Electronic Chattel Paper Condition. Electronic Contract," "Electronic Vault," "Electronic Vault Provider," Electronic Vault Services Agreement," "Electronic Vault System," "Fully Hedged," "Hedge Reserve Account," "Hedge Reserve Account Required Amount," "Mandatory Hedging Condition," "SOFR Determination Date," "SOFR Rate Day," "Tangible Contract," "Target Rate," and "U.S. Government Securities Business Day" thereto in appropriate alphabetical order: "'Adjusted Daily Simple SOFR' means an interest rate per annum equal to (i) the Daily Simple SOFR plus (ii) the Credit Adjustment." "'Credit Adjustment' has the meaning given to such term in the Fee Letter." "'Early Adoption Increased Costs' has the meaning given to such term in Section 2.10." "'Early Adoption Increased Costs Representation' has the meaning given to such term in Section 2.10." "'Electronic Chattel Paper Condition' means, with respect to any Receivable, the Contract of which is an Electronic Contract, the satisfaction of the following conditions: (i) delivery to the Administrative Agent of a legal opinion in a form reasonably acceptable to the Administrative Agent from a nationally recognized law firm to the effect that, as a legal matter, the Collateral Custodian has 'control' (within the meaning of Section 9-105 of the UCC as then in effect in the relevant State) of each Electronic Contract pledged to the Administrative Agent pursuant to this Agreement, in accordance with the related documents and procedures described in such legal opinion and with respect to the applicable Electronic Vault System and (ii) written approval by the Administrative Agent of the related Electronic Vault Provider in connection therewith." "'Electronic Contract' means a Contract that constitutes ‘electronic chattel paper’ (under and as defined in Article 9 of the UCC as then in effect in the relevant State) evidencing any Receivable." "'Electronic Vault' means the electronic vault wherein custody of Electronic Contracts shall be maintained in electronic form through a third-party Electronic Vault Provider that enables electronic contracting pursuant to the related Electronic Vault Services Agreement." "'Electronic Vault Provider' means a third-party provider of the technology platform on which the Electronic Vault operates " "'Electronic Vault Services Agreement' means an agreement among the Collateral Custodian and an Electronic Vault Provider pursuant to which the Electronic Vault Provider maintains the related Electronic Vault."
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Examples of Electronic Chattel Paper Condition in a sentence

  • For the avoidance of doubt, following the satisfaction of the Electronic Chattel Paper Condition, the Authoritative Copy with respect to which the related Contract is an Electronic Contract (other than a Specified Electronic Contract) will be stored in the Electronic Vault and will not be delivered to or reviewed or retained by the Image File Custodian.

  • On or after the date of the satisfaction of the Electronic Chattel Paper Condition, with respect to each Electronic Contract other than a Specified Electronic Contract, it shall be deemed to represent that the Collateral Agent holds the Authoritative Copy of such Electronic Contract in the Electronic Vault as pledgee of the Borrower for the benefit of the Secured Parties.

  • Each of the Servicer and each Subservicer agrees to use reasonable efforts to upload and maintain Electronic Contracts originated prior to the satisfaction of the Electronic Chattel Paper Condition in the Electronic Vault, to the extent such Electronic Contracts are capable of being uploaded in a manner that would perfect the Collateral Agent’s security interest in the Receivables related to such Electronic Contract pursuant to Section 9-105 of the UCC.

  • The Borrower agrees to use reasonable efforts to upload and maintain Electronic Contracts originated prior to the satisfaction of the Electronic Chattel Paper Condition in the Electronic Vault, to the extent such Electronic Contracts are capable of being uploaded in a manner that would perfect the Collateral Agent’s security interest in the Receivables related to such Electronic Contract pursuant to Section 9-105 of the UCC.


More Definitions of Electronic Chattel Paper Condition

Electronic Chattel Paper Condition means, with respect to any Receivable, the Contract of which is an Electronic Contract, the satisfaction of the following conditions: (i) delivery to the Administrative Agent of a legal opinion in a form reasonably acceptable to the Administrative Agent from a nationally recognized law firm to the effect that, as a legal matter, the Collateral Custodian has 'control' (within the meaning of Section 9-105 of the UCC as then in effect in the relevant State) of each Electronic Contract pledged to the Administrative Agent pursuant to this Agreement, in accordance with the related documents and procedures described in such legal opinion and with respect to the applicable Electronic Vault System and (ii) written approval by the Administrative Agent of the related Electronic Vault Provider in connection therewith." "'Electronic Contract' means a Contract that constitutes ‘electronic chattel paper’ (under and as defined in Article 9 of the UCC as then in effect in the relevant State) evidencing any Receivable." "'Electronic Vault' means the electronic vault wherein custody of Electronic Contracts shall be maintained in electronic form through a third-party Electronic Vault Provider that enables electronic contracting pursuant to the related Electronic Vault Services Agreement." "'Electronic Vault Provider' means a third-party provider of the technology platform on which the Electronic Vault operates " "'Electronic Vault Services Agreement' means an agreement among the Collateral Custodian and an Electronic Vault Provider pursuant to which the Electronic Vault Provider maintains the related Electronic Vault."
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Related to Electronic Chattel Paper Condition

  • Electronic Chattel Paper means chattel paper evidenced by a record or records consisting of information stored in an electronic medium.

  • Chattel Paper means chattel paper (as that term is defined in the Code), and includes tangible chattel paper and electronic chattel paper.

  • Electronic cigarette means any oral device that provides a vapor of liquid nicotine, lobelia, and/or other similar substance, and the use or inhalation of which simulates smoking. The term shall include any such devices, whether they are manufactured, distributed, marketed, or sold as e-cigarettes, e-cigars, e-pipes, or under another product name or descriptor.

  • Electronic component means an item that operates by controlling the flow of electrons or other electrically charged particles in circuits, using interconnections of electrical devices such as resistors, inductors, capacitors, diodes, switches, transistors, or integrated circuits. The term does not include structural or mechanical parts of an assembly containing an electronic component, and does not include any high performance magnets that may be used in the electronic component.

  • Electronic Coupon means an electronic flight coupon or other value document held in our database.

  • Electronic Copy has the meaning specified in Section 11.17.

  • Electronic Control System means a combination of units, designed to co- operate in the production of the stated vehicle control function by electronic data processing. Such systems, often controlled by software, are built from discrete functional components such as sensors, electronic control units and actuators and connected by transmission links. They may include mechanical, electro-pneumatic or electro-hydraulic elements.

  • Electronic Funds Transfer means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.

  • Tangible chattel paper means chattel paper evidenced by a record or records consisting of information that is inscribed on a tangible medium.

  • Chronic condition means a disease, illness, or injury that has one or more of the following characteristics

  • Electronic Payment means a wire transfer or an ACH credit transfer.

  • Electronic Notice shall be deemed written notice for purposes of this Section 13 if sent to the electronic mail address specified by the receiving party under separate cover. Electronic Notice shall be deemed received at the time the party sending Electronic Notice receives verification of receipt by the receiving party. Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form (“Nonelectronic Notice”) which shall be sent to the requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice.

  • Counterfeit electronic part means an unlawful or unauthorized reproduction, substitution, or alteration that has been knowingly mismarked, misidentified, or otherwise misrepresented to be an authentic, unmodified electronic part from the original manufacturer, or a source with the express written authority of the original manufacturer or current design activity, including an authorized aftermarket manufacturer. Unlawful or unauthorized substitution includes used electronic parts represented as new, or the false identification of grade, serial number, lot number, date code, or performance characteristics.

  • Electronic Fund Transfer means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone or other electronic device capable of communicating with such financial institution, wire transfers, and automated clearinghouse transfers.

  • advanced electronic signature means an electronic signature which meets the following requirements:

  • Approved Electronic Communication means each notice, demand, communication, information, document and other material transmitted, posted or otherwise made or communicated by e-mail, E-Fax, the Credit Management Module of PNC’s PINACLE® system, or any other equivalent electronic service agreed to by Agent, whether owned, operated or hosted by Agent, any Lender, any of their Affiliates or any other Person, that any party is obligated to, or otherwise chooses to, provide to Agent pursuant to this Agreement or any Other Document, including any financial statement, financial and other report, notice, request, certificate and other information material; provided that Approved Electronic Communications shall not include any notice, demand, communication, information, document or other material that Agent specifically instructs a Person to deliver in physical form.

  • electronic commerce means the supply of goods or services or both, including digital products over digital or electronic network;

  • Electronic Record and “Electronic Signature” shall have the meanings assigned to them, respectively, by 15 USC §7006, as it may be amended from time to time.