Hard Secured Receivable definition

Hard Secured Receivable means a Receivable that is, as of the date of the origination thereof, secured by a lien on one or more Titled Assets.
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Hard Secured Receivable means a Receivable that is, as of the date of the origination thereof, at least partially secured by a lien on one or more Titled Assets. “Hedge Collateral” means all of the rights of the Borrower, whether now existing and hereafter acquired, in and to all Hedging Agreements, Hedge Transactions and all present and future amounts payable by all Hedge Counterparties to the Borrower under or in connection with such Hedging Agreements and Hedge Transactions with such Hedge Counterparties. “Hedge Condition” means, as of any date of determination on or after the date of the Initial Loan, a condition that shall be satisfied if the Borrower is party to one or more Acceptable Cap Agreements with one or more Hedge Counterparties within thirty (30) days of the occurrence of a Hedging Event that satisfy the following conditions: (i) the aggregate notional principal of such Hedge Transactions is not less than nor greater than the respective percentage of the Eligible Receivables Principal Balance reasonably acceptable to the Administrative Agent, which aggregate notional principal amount may be stepped down on a schedule resulting from the usage of an assumed rate of prepayments on the Receivables and reasonably acceptable to the Administrative Agent; (ii) the Hedge Rate for any such Hedge Transactions shall not be higher than a rate acceptable to the Administrative Agent; (iii) the final maturity date for such Hedge Transactions shall be a date reasonably acceptable to the Administrative Agent; and (iv) the related Hedging Agreements are in form and substance reasonably acceptable to the Required Lenders and copies of which have been delivered to the Administrative Agent (which delivery may be made by electronic mail) and expressly acknowledge that the Borrower has assigned its rights thereunder to the Collateral Agent for the benefit of the Secured Parties and that the Collateral Agent will have the right to enforce the Hedge Counterparty’s obligations thereunder. “Hedge Counterparty” means any entity that on the date of entering into any Hedge Transaction (1) is an Affiliate of the Administrative Agent or any Lender or (2) (i) is an interest rate hedge provider that has been approved in writing by the Administrative Agent, acting at the direction of the Required Lenders (which approval shall not be unreasonably withheld), (ii) whose debt ratings satisfy each of the Long-Term Rating Requirement and the Short-Term Rating Requirement and (iii) who agrees that in the ev...
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Hard Secured Receivable means a Receivable that is, as of the date of the origination thereof, secured by a lien on one or more Titled Assets. “Hedge Breakage Costs” means the sum of the Senior Hedge Breakage Costs and the Subordinate Hedge Breakage Costs.
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More Definitions of Hard Secured Receivable

Hard Secured Receivable means a Receivable that is, as of the date of origination thereof, secured by a lien on one or more Titled
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Related to Hard Secured Receivable

  • Purchased Receivable means a Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer pursuant to Sections 4.2, 4.4(c) or 4.7 or repurchased by the Seller or the Servicer pursuant to Section 3.2 or Section 10.1(a).

  • Repurchased Receivable means a Receivable purchased by Santander Consumer pursuant to Section 3.4 of the Purchase Agreement or by the Servicer pursuant to Section 3.6 of the Sale and Servicing Agreement.

  • Liquidated Receivable means any Receivable liquidated by the Servicer through the sale or other disposition of the related Financed Equipment or that the Servicer has, after using all reasonable efforts to realize upon the Financed Equipment, determined to charge off without realizing upon the Financed Equipment.

  • Excluded Receivable means all indebtedness and other obligations owed to Originator or in which Originator has a security interest or other interest (including, without limitation, any indebtedness, obligation or interest constituting an account, chattel paper, instrument or general intangible) arising in connection with the sale of merchandise or the rendering of services by Originator and further includes, without limitation, the obligation to pay any Finance Charges with respect thereto:

  • Unbilled Receivable means, at any time, any Receivable as to which the invoice or xxxx with respect thereto has not yet been sent to the Obligor thereof.

  • Receivables Repurchase Obligation means any obligation of a seller of receivables in a Qualified Receivables Financing to repurchase receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, off-set or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller.