PERMITTED VEHICLE COLLATERAL definition

PERMITTED VEHICLE COLLATERAL means, as of any date of determination:
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PERMITTED VEHICLE COLLATERAL means, as of any Determination Date or at any other time, the collateral securing Permitted Vehicle Indebtedness and covering cash collateral deposits, vehicles and assets attributable to, or directly associated with, vehicles, such as manufacturers' obligations to repurchase such vehicles, rental receivables and receivables arising on the disposition of vehicles, proceeds of insurance covering such vehicles, and any other property of a type customarily securing Permitted Vehicle Indebtedness.
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PERMITTED VEHICLE COLLATERAL means, as of any Determination Date:
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More Definitions of PERMITTED VEHICLE COLLATERAL

PERMITTED VEHICLE COLLATERAL means the collateral securing Vehicle Debt and covering cash collateral deposits, vehicles (including the related certificates of title) and assets attributable to, or directly associated with, vehicles, such as rights under a manufacturer program, including without limitation manufacturers' obligations to repurchase such vehicles or guarantee proceeds on disposition of vehicles and all other obligations of a manufacturer under the related manufacturer program, rental receivables and receivables arising on the disposition of vehicles, proceeds of insurance covering such vehicles, any other Lessee Grantor Master Collateral (as defined in the Master Collateral Agency Agreement) and any other property of a type customarily securing Vehicle Debt. PERSON means and includes natural persons, corporations, limited liability companies, limited partnerships, general partnerships, limited liability partnerships, joint ventures, trusts, land trusts, business trusts, or other organizations, irrespective of whether they are legal entities, and governments and agencies and political subdivisions thereof.
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PERMITTED VEHICLE COLLATERAL at any date, the Property of any Finance Company securing Permitted Vehicle Indebtedness, including, cash or Cash Equivalents provided to meet Cash Collateralization Requirements, promissory notes of the US Borrower or a Subsidiary of the US Borrower payable to a Finance Company or its order, letters of credit, Hedge Agreements related to Permitted Vehicle Indebtedness, Eligible Vehicles, assets attributable to, or directly associated with, Eligible Vehicles, such as manufacturers’ obligations to repurchase such vehicles, rental payments under leases from a Finance Company to another Subsidiary of the US Borrower, and receivables arising on the disposition of Eligible Vehicles, proceeds of insurance covering such Eligible Vehicles, and any other Property of such Finance Company securing its Permitted Vehicle Indebtedness.
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Related to PERMITTED VEHICLE COLLATERAL

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Collateral has the meaning set forth in Section 2.

  • Acceptable Collateral means any of the following assets of Borrower, if (x) held in or credited to any Collateral Account subject to a first priority Lien under the applicable Security Agreement and (y) the Collateral Requirement has been satisfied with respect thereto:

  • Permitted Receivables Related Assets means any other assets that are customarily transferred, sold and/or pledged or in respect of which security interests are customarily granted in connection with asset securitization transactions involving receivables similar to Receivables and any collections or proceeds of any of the foregoing (including, without limitation, lock-boxes, deposit accounts, records in respect of Receivables and collections in respect of Receivables).

  • Covered Vehicle means a private passenger vehicle (including mini-vans, pickup trucks and sport utility vehicles) which is registered or rented to You during Your Trip, which is rated ¾ ton in weight or less, not used for racing, dealer services, dealer loaners, taxi, limousine, shuttle, delivery, hauling, towing, road repair service, construction service, snow removal, or as a public livery vehicle, or any other commercial use.

  • Negotiable Collateral means all of Borrower’s present and future letters of credit of which it is a beneficiary, drafts, instruments (including promissory notes), securities, documents of title, and chattel paper, and Borrower’s Books relating to any of the foregoing.

  • Hedge Collateral Defined in Section 5.3(b).

  • Shared vehicle means a vehicle that is available for

  • Shared vehicle driver means an individual who has been authorized to drive the

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

  • Counterparty Downgrade Collateral means any cash and/or securities delivered to the Issuer as collateral for the obligations of a Hedge Counterparty under a Hedge Transaction.

  • Low-speed vehicle means any four-wheeled electrically-powered vehicle, except a motor vehicle or

  • Securitization Property means the property described in section 10j.

  • Permitted Receivables Documents means all documents and agreements evidencing, relating to or otherwise governing a Permitted Receivables Financing.

  • Leased Vehicle means a new or used Nissan or Infiniti automobile, sport utility vehicle, minivan or light-duty truck, together with all accessories, parts and additions constituting a part thereof, and all accessions thereto, leased to a Lessee pursuant to a Lease.

  • Permitted Receivables Facility means the receivables facility or facilities created under the Permitted Receivables Facility Documents, providing for the sale or pledge by the Borrower and/or one or more other Receivables Sellers of Permitted Receivables Facility Assets (thereby providing financing to the Borrower and the Receivables Sellers) to the Receivables Entity (either directly or through another Receivables Seller), which in turn shall sell or pledge interests in the respective Permitted Receivables Facility Assets to third-party investors pursuant to the Permitted Receivables Facility Documents (with the Receivables Entity permitted to issue investor certificates, purchased interest certificates or other similar documentation evidencing interests in the Permitted Receivables Facility Assets) in return for the cash used by the Receivables Entity to purchase the Permitted Receivables Facility Assets from the Borrower and/or the respective Receivables Sellers, in each case as more fully set forth in the Permitted Receivables Facility Documents.

  • Hybrid vehicle (HV) means a vehicle equipped with a powertrain containing at least two different categories of propulsion energy converters and at least two different categories of propulsion energy storage systems.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Subject Vehicle means the vehicle being tested.

  • Shared vehicle owner means the registered owner, or a person or entity designated by the registered owner, of a vehicle made available for sharing to shared vehicle drivers through a peer-to-peer car sharing program.

  • Matured Vehicle as of any date means any Leased Vehicle the related Lease of which has reached its Maturity Date or has been terminated in connection with a Lessee Initiated Early Termination (and the Lessee is not in default under such Lease) or in connection with a Casualty Termination, which Leased Vehicle has been returned to the Servicer on behalf of the Titling Trust, if applicable.

  • Permitted Receivables Financing means any one or more receivables financings in which (a) any Loan Party or any Restricted Subsidiary (i) sells (as determined in accordance with GAAP) any accounts (as defined in the Uniform Commercial Code as in effect in the State of New York), payment intangibles (as defined in the Uniform Commercial Code as in effect in the State of New York), notes receivable, rights to future lease payments or residuals (collectively, together with certain property relating thereto and the right to collections thereon, being the “Transferred Assets”) to any Person that is not a Subsidiary or Affiliate of the Borrower (with respect to any such transaction, the “Receivables Financier”), (ii) borrows from such Receivables Financier and secures such borrowings by a pledge of such Transferred Assets and/or (iii) otherwise finances its acquisition of such Transferred Assets and, in connection therewith, conveys an interest in such Transferred Assets to the Receivables Financier or (b) any Loan Party or any Restricted Subsidiary sells, conveys or otherwise contributes any Transferred Assets to a Receivables Financing SPC, which Receivables Financing SPC then (i) sells (as determined in accordance with GAAP) any such Transferred Assets (or an interest therein) to any Receivables Financier, (ii) borrows from such Receivables Financier and secures such borrowings by a pledge of such Transferred Assets or (iii) otherwise finances its acquisition of such Transferred Assets and, in connection therewith, conveys an interest in such Transferred Assets to the Receivables Financier; provided that (A) the aggregate Attributed Principal Amount for all such financings shall not at any time exceed $600,000,000 and (B) such financings shall not involve any recourse to any Loan Party or any Restricted Subsidiary for any reason other than (x) repurchases of non-eligible assets or (y) indemnifications for losses other than credit losses related to the Transferred Assets.

  • Fleet Vehicle means a motor vehicle owned or leased by a person engaged in a commercial activity, utility service, or government service; or a motor vehicle offered for sale, rent, or lease at a business which is licensed to sell, rent, or lease motor vehicles.

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.

  • Permitted Receivables Facility Assets means (i) Receivables (whether now existing or arising in the future) of the Company and its Subsidiaries which are transferred or pledged to the Receivables Entity pursuant to the Permitted Receivables Facility and any related Permitted Receivables Related Assets which are also so transferred or pledged to the Receivables Entity and all proceeds thereof and (ii) loans to the Company and its Subsidiaries secured by Receivables (whether now existing or arising in the future) and any Permitted Receivables Related Assets of the Borrower and its Subsidiaries which are made pursuant to the Permitted Receivables Facility.