Fungible Collateral definition

Fungible Collateral means an amount of debt or equity securities equivalent to the Purchased Collateral the subject of the relevant Purchase Transaction (provided that, if and to the extent that such Purchased Collateral has been redeemed, such expression shall mean a sum of money equivalent to (and in the same currency as) the proceeds of such redemption) and debt or equity securities are "equivalent to" Purchased Collateral if they (i) have the same issuer or obligor, (ii) are part of the same issue, series or class, (iii) are of an identical type, nominal value and description and amount as the Purchased Collateral and (iv) have the same terms and conditions and rank in all respects pari passu and equally with the Purchased Collateral.
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Fungible Collateral means an amount of debt or equity securities equivalent to the Purchased Collateral the subject of the relevant Purchase Transaction (provided that, if and to the extent that such Purchased Collateral has been redeemed, such expression shall mean a sum of money equivalent to (and in the same currency as) the proceeds of such redemption) and debt or equity securities are “equivalent to” Purchased Collateral if they (i) are of the same issuer or obligor (ii) are part of the same issue, series or class, (iii) are of an identical type, nominal value and description and amount as the Purchased Collateral and (iv) have the same terms and conditions and rank in all respects pari passu and equally with the Purchased Collateral. Under the Repurchase Agreement, the Repurchase Counterparty in respect of a Purchase Transaction will be required to make payments to the Issuer equal to each payment of principal, interest, dividends or other distributions made by an obligor of the relevant Purchased Collateral (each an “Income Payment”) on the date on which such payments under such Purchased Collateral are made by the obligor of such Purchased Collateral. Unless otherwise specified in the Terms, if the Repurchase Counterparty exercises its Purchase Option under the Repurchase Agreement, the Issuer will be deemed to be authorised by the Trustee (and by all other persons entitled to the benefit of the security created by or pursuant to the Trust Instrument) to release from the security created by or pursuant to the Trust Instrument the Collateral which is the subject of the Purchase Transaction. If any Purchased Collateral or Fungible Collateral is redelivered to the Issuer pursuant to the Repurchase Agreement, the right of the Issuer to receive payments from the Repurchase Counterparty equal to the Income Payments made on or in respect of such Purchased Collateral or Fungible Collateral shall terminate and, upon redelivery of such Purchased Collateral or Fungible Collateral, such Purchased Collateral or Fungible Collateral shall be subject to the security constituted by or created pursuant to the Trust Instrument. Any amount of Purchase Price paid by the Repurchase Counterparty to the Issuer pursuant to the Repurchase Agreement shall be credited to an interest bearing account in the name of the Custodian (the “Repurchase Account”) opened by the Custodian with a bank or other financial institution (which shall be the Custodian unless otherwise specified in the Terms) specif...
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Fungible Collateral means an amount of debt or equity securities equivalent to the Purchased Collateral the subject of the relevant Purchase Transaction (provided that, if and to the extent that such Purchased Collateral has been redeemed, such expression shall mean a sum of money equivalent to (and in the same currency as) the proceeds of such redemption) and debt or equity securities are “equivalent to” Purchased Collateral if they
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Examples of Fungible Collateral in a sentence

  • To the extent that the Repurchase Counterparty fails to make payments due to the Issuer under the Repurchase Agreement, or to deliver Purchased Collateral or Fungible Collateral to the Issuer when required under the Repurchase Agreement, the Issuer will be unable to meet its obligations in respect of the Notes, Receipts and Coupons.

  • Party B Final Exchange Amount II: Party B shall deliver the Collateral (including, for theavoidance of doubt, any Repurchased Collateral or Fungible Collateral returned to the Issuer in accordance with the Repurchase Agreement or payment of amounts under Clause 10 of the Repurchase Agreement in lieu of such return of collateral) or the full proceeds of the redemption thereof in accordance with the terms thereof to Party A on the Final Exchange Date II.

  • To the extent that the Repurchase Counterparty fails to make payments due to the relevant Issuer under the Repurchase Agreement, or to deliver Purchased Collateral or Fungible Collateral to the relevant Issuer when required under the Repurchase Agreement, such Issuer will be unable to meet its obligations in respect of the Notes, the Coupons or the Receipts.

  • Party B Final Exchange Amount I: Party B shall deliver to Party A on the Final Exchange DateI all of the Collateral (including, for the avoidance of doubt, any Repurchased Collateral or Fungible Collateral returnedto the Issuer in accordance with the Repurchase Agreement or payment of amounts under Clause 10 of the Repurchase Agreement in lieu of such return of collateral) or the full proceeds of the redemption thereof in accordance with the terms thereof.

  • Party B Final Exchange Amount I: Party B shall deliver to Party A on the Final Exchange DateI all of the Collateral (including, for the avoidance of doubt, any Repurchased Collateral or Fungible Collateral returned to the Issuer in accordance with the Repurchase Agreement or payment of amounts under Clause 10 of the RepurchaseAgreement in lieu of such return of collateral) or the full proceeds of the redemption thereof in accordance with the terms thereof.

  • Party B Final Exchange Amount I: Party B shall deliver to Party A on the Final Exchange Date I all of the Collateral (including, for the avoidance of doubt, any Repurchased Collateral or Fungible Collateral returned to the Issuer in accordance with the Repurchase Agreement or payment of amounts under Clause 10 of the Repurchase Agreement in lieu of such return of collateral) or the full proceeds of the redemption thereof in accordance with the terms thereof.

  • Party B Final Exchange Amount II: Party B shall deliver the Collateral (including, for the avoidance of doubt, any Repurchased Collateral or Fungible Collateral returned to the Issuer in accordance with the Repurchase Agreement or payment of amounts under Clause 10 of the Repurchase Agreement in lieu of such return of collateral) or the full proceeds of the redemption thereof in accordance with the terms thereof to Party A on the Final Exchange Date II.

  • Party B Final Exchange Amount I: Party B shall deliver to Party A on the Final Exchange DateI all of the Collateral (including, for the avoidance of doubt,any Purchased Collateral or Fungible Collateral returned to the Issuer in accordance with the Repurchase Agreement or payment of amounts under Clause 10 of the Repurchase Agreement in lieu of such return of collateral) or the full proceeds of the redemption thereof in accordance with the terms thereof.

  • Termination To the extent that the Repurchase Counterparty fails to make payments due to the Issuer under the Repurchase Agreement, or to deliver Purchased Collateral or Fungible Collateral to the Issuer when required under the Repurchase Agreement, the Issuer will be unable to meet its obligations in respect of the Securities.

  • Party B Final Exchange Amount: On the Final Exchange Date, Party B shall deliver to Party A the Collateral (including for the avoidance of doubt any Repurchased Collateral or Fungible Collateral returned to the Issuer under any Repurchase Agreement).


More Definitions of Fungible Collateral

Fungible Collateral means an amount of debt or equity securities equivalent to the Purchased Collateral the subject of the relevant Purchase Transaction (provided that, if and to
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Fungible Collateral means goods of such nature
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Related to Fungible Collateral

  • Eligible Collateral means, with respect to a party, the items, if any, specified as such for that party in Paragraph 13.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Additional Collateral Any of the following held, in addition to the related Mortgaged Property, as security for a Mortgage Loan: (i) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as security for the repayment of such Mortgage Loan, (ii) third-party guarantees, and (A) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as collateral for such guarantee or (B) any mortgaged property securing the performance of such guarantee, or (iii) such other collateral as may be set forth in the Series Supplement.

  • Swap Collateral means, at any time, any asset (including, without limitation, cash and/or securities) which is paid or transferred by a Swap Provider to the Guarantor (and not transferred back to the Swap Provider) as credit support to support the performance by such Swap Provider of its obligations under the relevant Swap Agreement together with any income or distributions received in respect of such asset and any equivalent of such asset into which such asset is transformed; for greater certainty, Contingent Collateral shall at all times be excluded from Swap Collateral;

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Account Collateral means, with respect to each Account, such Account, together with all cash, securities, Financial Assets and investments and other property from time to time deposited or credited to such Account and all proceeds thereof, including, with respect to the Reserve Fund, the Reserve Fund Deposit and the Reserve Fund Amount.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • Collateral has the meaning set forth in Section 2.

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.10(e) of the Sale and Servicing Agreement.]

  • U.S. Collateral means the “Collateral” (or any equivalent term) as defined in the U.S. Security Agreement or any other applicable U.S. Security Document, together with any other assets (whether Real Property or personal property) pledged pursuant to any U.S. Security Document.