Medallion Funding definition

Medallion Funding means Medallion Funding Corp., a New York corporation, and its successors and permitted assigns.
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Medallion Funding means Medallion Funding Corp., a New York corporation which is a wholly owned Subsidiary of MFC.
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Medallion Funding means Medallion Funding LLC (successor by merger to Medallion Funding Corp.), a New York xxxxxxxxxxxxxxxxxx liability company, and its successors and permitted assigns.
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Examples of Medallion Funding in a sentence

  • There is not now, nor will there be at any time in the future, any agreement or understanding between Medallion Funding and the Borrower (other than as expressly set forth in the Loan Documents) providing for the allocation or sharing of obligations to make payments or otherwise in respect of any taxes, fees, assessments or other governmental charges.

  • The Borrower will not account for or treat (whether in financial statements or otherwise) the transactions contemplated by the Purchase Agreement in any manner other than the sale or contribution of Medallion Loans and other Collateral by Medallion Funding to the Borrower.

  • In order to induce the Bank to enter into this Amendment and to amend the Loan Agreement as provided herein, the Borrower is causing Medallion Funding LLC to execute and deliver to the Bank concurrently herewith a Reaffirmation of Guaranty and Security Agreement.

  • Taking into account the capital contribution in the Purchase Agreement, the Borrower has given fair consideration and reasonably equivalent value in exchange for the sale of the Medallion Loans by Medallion Funding, as Seller, under the Purchase Agreement.

  • In order to induce the Bank to enter into this Amendment and to amend the Loan Agreement as provided herein, the Borrower is causing Medallion Funding Corp.

  • Medallion Funding owns 100% of the beneficial interests of the Borrower.

  • The Borrower shall take all other actions necessary to maintain the accuracy of the factual assumptions set forth in the legal opinion of Xxxxxxx Xxxx & Xxxxxxxxx LLP, counsel to Medallion Funding and the Borrower, issued in connection with the Purchase Agreement and relating to the issues of substantive consolidation and true sale of the Medallion Loans.

  • The Tax Matters Partner (as defined in Section 6231 of the Code) of the Trust shall be Medallion Funding or such other Person as the Board of Managers shall appoint, and notice of any such appointment shall be given in writing to the Owner Trustee and the Board of Managers.

  • Medallion Funding LLC will not independently file any tax return, but will be subsumed in the tax return of Medallion Financial Corp.

  • It was organized as a Delaware corporation in 1989 for the purpose of acquiring all the outstanding voting capital stock of Medallion Funding Corp.


More Definitions of Medallion Funding

Medallion Funding has reported that from January 1, 2000 through the date hereof, it has not complied, and may not comply from the Effective Date until June 30, 2001, with such requirements as a result of the 2000 Forbearance Events and the 2001 Forbearance Events (each as defined in Amendment No. 4 (as defined in the Funding Agreement)) but has instead, for the period from and after January 1, 2001 through the date hereof, complied with, and for the period from and after the date hereof until June 30, 2001, agreed that it will comply with, the covenant set forth in Section 1 of Amendment No. 4 (as defined in the Funding Agreement). Each of the Agent and the Banks hereby waives (without changing the provisions of Section 9.1 of the Loan Agreement or the definition of Event of Default therein) any Default or Event of Default which may have occurred or may occur under Section 9.1(e) or (f) of the Loan Agreement (to the extent that Section 9.1(f) may be deemed to apply to the Funding Agreement) as a result of the occurrence of the 2000 Forbearance Events or the 2001 Forbearance Events (each as defined in Amendment No. 4 (as defined in the Funding Agreement)), for so long as and to the extent that the Banks under the Funding Agreement are required to forbear from the exercise of certain of their rights and remedies under and pursuant to Section 1 of Amendment No. 4 (as defined in the Funding Agreement).
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Medallion Funding has reported that (i) as of September 30, 2001, Senior Debt exceeded Net Finance Assets (each as defined in the Note Purchase Agreement) by $486,684, and (ii) as of November 30, 2001, Senior Debt may have exceeded Net Finance Assets (each as defined in the Note Purchase Agreement) by no more than $600,000 (the defaults in clauses (i) and (ii) collectively referred to as the "Specified Noteholder -------------------- Defaults"). Subject to the terms and conditions hereof, each of the Agent and -------- the Banks:
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Related to Medallion Funding

  • Administration Fund means the Administration Fund established by the Fiscal Agent pursuant to Section 4.01 hereof.

  • Buydown Fund Account A separate account or accounts created and maintained pursuant to Section 3.02 (a) with the corporate trust department of the Trustee or another financial institution approved by the Master Servicer, (b) within FDIC insured accounts (or other accounts with comparable insurance coverage acceptable to the Rating Agencies) created, maintained and monitored by a Servicer or (c) in a separate non-trust account without FDIC or other insurance in an Eligible Institution. Such account or accounts may be non-interest bearing or may bear interest. In the event that a Buydown Fund Account is established pursuant to clause (b) of the preceding sentence, amounts held in such Buydown Fund Account shall not exceed the level of deposit insurance coverage on such account; accordingly, more than one Buydown Fund Account may be established.

  • Buydown Fund A fund provided by the originator of a Mortgage Loan or another Person with respect to a Buydown Loan which provides an amount sufficient to subsidize regularly scheduled principal and interest payments due on such Buydown Loan for a period. Buydown Funds may be (i) funded at the par values of future payment subsidies, or (ii) funded in an amount less than the par values of future payment subsidies, and determined by discounting such par values in accordance with interest accruing on such amounts, in which event they will be deposited in an account bearing interest. Buydown Funds may be held in a separate Buydown Fund Account or may be held in a Custodial Account for P&I or a Custodial Account for Reserves and monitored by a Servicer.

  • Buydown Funds Any amount contributed by the seller of a Mortgaged Property, the Company or other source in order to enable the Mortgagor to reduce the payments required to be made from the Mortgagor's funds in the early years of a Mortgage Loan. Buydown Funds are not part of the Trust Fund prior to deposit into the Custodial or Certificate Account.

  • MBS means mortgage-backed securities.

  • Depository Bank means the Institution that issues a specific Depositary Receipt on behalf of the underlying company. The Depository Bank maintains a holding of Stock in the Underlying on which it is able to issue Depositary Receipts;

  • L/C Bank means the Original L/C Bank and any other Lender which has been appointed as an L/C Bank in accordance with Clause 5.11 (Appointment and Change of L/C Bank) and which has not resigned in accordance with paragraph (c) of Clause 5.11 (Appointment and Change of L/C Bank).

  • Collection agency means a person that is directly engaged in collecting or attempting to collect a claim owed or due or asserted to be owed or due another, or repossessing or attempting to repossess a thing of value owed or due or asserted to be owed or due another person, arising out of an expressed or implied agreement. Collection agency includes an individual who, in the course of collecting, repossessing, or attempting to collect or repossess, represents himself or herself as a collection or repossession agency, or a person that performs collection activities that are regulated under article 9 of the occupational code, 1980 PA 299, MCL 339.901 to 339.920. Collection agency includes a person that furnishes or attempts to furnish a form or a written demand service that is represented to be a collection or repossession technique, device, or system to be used to collect or repossess claims, if the form contains the name of a person other than the creditor in a manner that indicates that a request or demand for payment is being made by a person other than the creditor even though the form directs the debtor to make payment directly to the creditor rather than to the other person whose name appears on the form. Collection agency includes a person that uses a fictitious name or the name of another in the collection or repossession of claims to convey to the debtor that a third person is collecting or repossessing or has been employed to collect or repossess the claim.

  • Student means a person, other than a person in receipt of a training allowance, who is attending or undertaking—

  • Collection Agent means at any time the Person then authorized pursuant to Section 6.01 to service, administer and collect Transferred Receivables.

  • Equity Account Administrator means the brokerage firm utilized by the Company from time to time to create and administer accounts for participants in the Company’s equity plans and programs, including the Plan.

  • State education agency means the department.

  • Funding Agent or "agents" means an investment firm, trust bank, or other financial

  • Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

  • Account Administrator means the person(s) who have been granted authority by Customer to set up, amend, or otherwise control settings and/or make additional purchases for the Account via the Administrative Portal. Account Administrators may have varying levels of Account rights, skills, or permissions.

  • Transfer Agents means the Transfer Agents referred to above and such further or other Transfer Agent or Agents as may be appointed from time to time hereunder either generally or in relation to a specific Series of Notes.

  • Principal Funding Account Investment Proceeds shall have the meaning specified in subsection 4.03(a)(ii).

  • Home Loan A Mortgage Loan categorized as Home Loan pursuant to Appendix E of Standard & Poor's Glossary.

  • Certificate Depository Agreement means the agreement among the Trust, the Depositor and The Depository Trust Company, as the initial Clearing Agency, dated as of the Closing Date, relating to the Trust Securities Certificates, substantially in the form attached as Exhibit B, as the same may be amended and supplemented from time to time.

  • Depository Agent is defined in Section 2.6(a) of the Agreement.

  • Discount Mortgage Loan Any Mortgage Loan having a Net Mortgage Rate (or the initial Net Mortgage Rate) of less than the Discount Net Mortgage Rate per annum and any Mortgage Loan deemed to be a Discount Mortgage Loan pursuant to the definition of Qualified Substitute Mortgage Loan.

  • Documentation Agent as defined in the preamble hereto.

  • Custodial Care means help in transferring, eating, dressing, bathing, toileting and other such related activities. Custodial care does not include Covered Services determined to be Medically Necessary.

  • Syndication Agents as defined in the preamble hereto.

  • student loan means a loan towards a student's maintenance pursuant to any regulations made under section 22 of the Teaching and Higher Education Act 1998, section 73 of the Education (Scotland) Act 1980 or Article 3 of the Education (Student Support) (Northern Ireland) Order 1998 and includes, in Scotland, a young student's bursary paid under regulation 4(1)(c) of the Students’ Allowances (Scotland) Regulations 2007.