Funding Security definition

Funding Security means the security granted by Funding under or pursuant to the Funding Deed of Charge in favour of the Security Trustee for the benefit of the Funding Secured Creditors or any of them including the security granted by Funding under or pursuant to any Deed of Accession and the security granted by Funding under or pursuant to the Second Priority Funding Deed of Charge;
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Funding Security means the security granted by Funding under or pursuant to the Funding Deed of Charge in favour of the Security Trustee for the benefit of the Funding Secured Creditors or any of them including the security granted by Funding under or pursuant to any Deed of Accession;
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Funding Security. ’ means the mortgages, charges, assignments, pledges and other security created by Funding under or pursuant to the Funding Deed of Charge in favour of the Security Trustee for the benefit of the secured creditors of Funding as described
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Examples of Funding Security in a sentence

  • Prior to and following enforcement of the Funding Security all amounts at any time held by Funding, the Cash Manager or the Security Trustee in respect of the security created under this Deed shall be held and/or applied by such person subject to and in accordance with the relevant provisions of the Funding Deed of Charge.

  • The above priority of payments will change and the Current Issuer will make repayments of principal in accordance with and subject to the Current Issuer Priority of Payments as set out in the Current Issuer Cash Management Agreement or, as the case may be, the Current Issuer Deed of Charge (1) following the occurrence of a Trigger Event and/or, (2) following the enforcement of the Funding Security and/or the enforcement of the Current Issuer Security.

  • It is hereby acknowledged and agreed that by its execution of this Agreement no Funding Security Trustee shall assume or have any of the obligations or liabilities of the Seller, any Funding Beneficiary or the Mortgages Trustee or any other Funding Security Trustee hereunder.

  • Following enforcement of the Funding Security and distribution of all enforcement proceeds in accordance with the Funding Deed of Charge, all outstanding claims that the Master Issuer and the Security Trustee may otherwise have against Funding will be extinguished.

  • All notices served under this Agreement shall be simultaneously copied to the Funding Security Trustees by the person serving the same.

  • Any change in the Variable Rate and/or the Differential Rate or any other discretionary rate or margin in relation to any Loan shall be notified in writing to each of the Mortgages Trustee, the Beneficiaries and the Funding Security Trustees as soon as reasonably practicable and the Servicer shall, upon receipt of a request from any of such parties, notify such requesting party of any changes in the Monthly Payments in relation to the Loans sold by the Seller to the Mortgages Trustee.

  • In particular, but without limitation, the Servicer shall promptly notify the Mortgages Trustee, the Beneficiaries and the Funding Security Trustees of the existence of any insurance policies to which the Seller is a party or in which it has an interest in addition to those specifically referred to in the definition of Insurance Policies in the Master Definitions and Construction Schedule.

  • All notices served under this Agreement shall be simultaneously copied to each Funding Security Trustee by the person serving the same.

  • The Cash Manager may not assign or transfer any of its rights and obligations under this Agreement without the prior written consent of the Mortgages Trustee, the Seller, the Funding Beneficiaries and the Funding Security Trustees.

  • If, at any time, the Cash Manager is in any doubt as to which ledger a particular amount should be credited or debited, it shall consult with the Funding Security Trustees (in relation to the Mortgages Trustee Ledgers) or with the Security Trustee (in relation to the Funding Ledgers) or with the Funding 2 Security Trustee (in relation to the Funding 2 Ledgers).


More Definitions of Funding Security

Funding Security means the security granted by Funding to the Security Trustee under the terms of the Funding Deed of Charge;"FUNDING SHARE" means, prior to the first Distribution Date, the Initial Funding Share and thereafter means the Current Funding Share;
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Related to Funding Security

  • Existing Security means any Security granted by any Person over its Assets in respect of any Relevant Indebtedness and which is existing at the relevant Issue Date or at the time any such Person becomes a Material Subsidiary or whose business and/or activities, in whole or in part, are assumed by or vested in the Issuer or a Material Subsidiary after the relevant Issue Date (other than any Security created in contemplation thereof) or any substitute Security created over those Assets (or any part thereof) in connection with the refinancing of the Relevant Indebtedness secured on those Assets provided that the principal, nominal or capital amount secured on any such Security may not be increased;

  • Underlying Security means a security issued or transferred, or to be issued or transferred, in accordance with the terms of a convertible security, an exchangeable security or a multiple convertible security;

  • Outstanding Securities means, with respect to any Security and as of the date of determination, all Securities evidenced by Certificates theretofore authenticated, executed and delivered under this Agreement, except:

  • participating security means a security title to units of which is permitted by an operator to be transferred by means of a relevant system;

  • Existing Secured Notes means the previously issued debt securities of the Issuers outstanding on the date hereof.

  • voting security means a security of the Company that:

  • Encumbered Required Subordinated Amount of Class D Notes means, for the Class C( - ) Notes, an amount equal to the product of

  • Outstanding Voting Securities means the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors.

  • of a debt security means the principal of the security plus, when appropriate, the premium, if any, on the security.

  • of any particular Debt Security means every previous Debt Security evidencing all or a portion of the same debt as that evidenced by such particular Debt Security; and, for the purposes of this definition, any Debt Security authenticated and delivered under Section 2.06 in lieu of a lost, destroyed or stolen Debt Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Debt Security.

  • Required Subordinated Amount of Class D Notes means, for the Class C( - ) Notes for any date of determination, an amount equal to the sum of

  • Required Subordinated Amount of Class C Notes means, for the Class B ( - ) Notes for any date of determination, an amount equal to the sum of

  • LCR Security means any commercial paper or security (other than equity securities issued to Parent or any Originator that is a consolidated subsidiary of Parent under GAAP) within the meaning of Paragraph .32(e)(viii) of the final rules titled Liquidity Coverage Ratio: Liquidity Risk Measurement Standards, 79 Fed. Reg. 197, 61440 et seq. (October 10, 2014).

  • Outstanding Mortgage Loan As of any Due Date, a Mortgage Loan with a Stated Principal Balance greater than zero which was not the subject of a Principal Prepayment in Full prior to such Due Date and which did not become a Liquidated Mortgage Loan prior to such Due Date.

  • Principal Amount Outstanding means, in respect of a Covered Bond on any day the principal amount of that Covered Bond on the relevant Issue Date thereof less principal amounts received by the relevant Covered Bondholder in respect thereof on or prior to that day.

  • Unencumbered Required Subordinated Amount of Class D Notes means, for the Class C( - ) Notes, an amount equal to the product of

  • Monthly Principal Amount means, for each Payment Date, starting with the Payment Date in the month following the month in which (a) the Controlled Accumulation Period starts, an amount equal to the lesser of (i) the Controlled Deposit Amount for that Payment Date, and (ii) the Adjusted Invested Amount on that Payment Date, or (b) the Early Amortization Period starts, the Adjusted Invested Amount on that Payment Date.

  • Existing Security Documents shall have the meaning assigned to such term in the recitals hereto.

  • Capital Security means an undivided beneficial interest in the assets of the Issuer Trust, having a Liquidation Amount of $1,000 and having the rights provided therefor in this Trust Agreement, including the right to receive Distributions and a Liquidation Distribution as provided herein.

  • Outstanding Bonds means any Bonds not redeemed or otherwise discharged.

  • Preferred Security means an undivided beneficial interest in the assets of the Trust, having a Liquidation Amount of $1,000 and having the rights provided therefor in this Trust Agreement.

  • Excess Subordinate Principal Amount With respect to any Distribution Date on which the aggregate Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the Lowest Priority is to be reduced to zero and on which Realized Losses are to be allocated to such class or classes, the excess, if any, of (i) the amount that would otherwise be distributable in respect of principal on such class or classes of Certificates on such Distribution Date over (ii) the excess, if any, of the aggregate Certificate Principal Balance of such class or classes of Certificates immediately prior to such Distribution Date over the aggregate amount of Realized Losses to be allocated to such classes of Certificates on such Distribution Date as reduced by any amount calculated pursuant to Section 4.02(b)(i)(E). With respect to any Mortgage Pool that is comprised of two or more Loan Groups, the Excess Subordinate Principal Amount will be allocated between each Loan Group on a pro rata basis in accordance with the amount of Realized Losses attributable to each Loan Group and allocated to the Certificates on such Distribution Date.

  • Existing Securities means, collectively, the Equity Securities and the Debt Securities.

  • Attributable Principal Amount means (a) in the case of Capital Leases, the amount of Capital Lease obligations determined in accordance with GAAP, (b) in the case of Synthetic Leases, an amount determined by capitalization of the remaining lease payments thereunder as if it were a Capital Lease determined in accordance with GAAP, (c) in the case of Securitization Transactions, the outstanding principal amount of such financing, after taking into account reserve amounts and making appropriate adjustments, determined by the Administrative Agent in its reasonable judgment and (d) in the case of Sale and Leaseback Transactions, the present value (discounted in accordance with GAAP at the debt rate implied in the applicable lease) of the obligations of the lessee for rental payments during the term of such lease.

  • Required Subordinated Amount of Class B Notes means, for the Class A(2022-1) Notes for any date of determination, an amount equal to the product of

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.