Pledged ABS definition

Pledged ABS means, with respect to the Loans at any time outstanding hereunder and any Committed Securitization, collectively, the related Residual Interest Collateral (if any) and the related Subordinate Note Collateral (if any).
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Pledged ABS has the meaning specified in Section 1.1 of the Master Residual Loan Agreement (provided that, solely for the purposes of any calculation of the amount specified under clause (x)(B) of the definition of "Net Securitization Proceeds Percentage", Pledged ABS shall also include securities pledged under Additional Approved Residual Financing Agreements, which securities are deemed by Lender in its reasonable discretion to meet the criteria for Pledged ABS under the Master Residual Loan Agreement).
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Pledged ABS means any residual, subordinated or interest strip class of asset backed securities (i) issued in connection with a securitization involving Assignor, Onyx or an affiliate of either of them, and in which MLMCI or an affiliate of MLMCI has acted as the lead or co-lead underwriter or placement agent and (ii) pledged by Assignor hereunder and accepted by MLMCI in connection with a Loan hereunder.
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Examples of Pledged ABS in a sentence

  • Borrower shall, with respect to each Loan, no later than two (2) Business Days prior to the related Borrowing Date, irrevocably instruct, in the case of any Pledged ABS, the paying agent under the related ABS Issuance Agreements, pursuant to an instruction substantially in the form of Exhibit D hereto (with a copy to Lender), providing for, among other things, all payments payable in respect of the related Pledged ABS to be paid directly to the Collection Account for the benefit of Lender.

  • An Other Residual Financing Facility Loan secured by Other Residual Financing Facility Pledged ABS relating to such Loan shall be made under the Other Residual Financing Facility in an equal principal amount as such Loan on the same date such Loan is made hereunder (except as otherwise provided in Section 9(r) hereof).

  • Lender hereby grants to Borrower the right to perform in Lender's stead under any repurchase, reverse repurchase, loan or similar transaction in which Lender has sold, pledged or otherwise transferred any Pledged ABS in the event that Lender has defaulted on its obligations to repurchase or accept redelivery of such Pledged ABS in conformity with the terms of any such transaction and so long as an Event of Default hereunder by Borrower shall not have occurred and be continuing.

  • For any Pledged ABS that is uncertificated, Borrower shall cause the issuer of such Pledged ABS to register Lender as the registered owner of such Pledged ABS on books of the issuer.

  • Promptly following Lender's receipt from Borrower of the Pledged ABS Servicer's Certificates for each Pledged ABS pursuant to Section 9(s), Lender shall provide Borrower with notice of Lender's most recent determination of (i) the Market Value of each Pledged ABS, (ii) the Market Value of any Supplemental Collateral, and (iii) the Market Value of any Additional Collateral.

  • Borrower acknowledges and agrees that all payments on the Pledged ABS will be made to the Collection Account, for the benefit of Lender.

  • On each date on which any payment in respect of any Pledged ABS or any other Collateral is received in the Collection Account in accordance with this Section 2(e), Collection Account Bank shall inform Lender of such receipt and shall request from Lender instructions as to the application of such amounts pursuant to Section 13(b), Section 13(c) or Section 12(e), as applicable.

  • Borrower shall furnish or cause to be furnished to Lender, on the last Business Day of each month, a report for each Pledged ABS, all Supplemental Collateral, all Additional Collateral and each Demand Note substantially in the form of, and containing the information set forth on, Exhibit F hereto.

  • Lender further acknowledges that each Pledged ABS identified in a Confirmation Statement and included as Collateral for the Loans hereunder is unique and identifiable on the date of such pledge and that an award of money damages would be insufficient to compensate Borrower for the losses and damages incurred by Borrower in the event of Lender's failure to release and redeliver any Pledged ABS upon the repayment of the Loans by Borrower as provided hereunder.

  • Borrower shall cause trustee or other paying agent on any Pledged ABS, any Supplemental Collateral and any Additional Collateral to make all payments in connection with such Pledged ABS, Supplemental Collateral and Additional Collateral to the Collection Account for the benefit of Lender pursuant to Section 2(e) of this Agreement and not make any change to any such instructions without the prior written consent of Lender.

Related to Pledged ABS

  • Pledged Assets With respect to any Mortgage Loan, all money, securities, security entitlements, accounts, general intangibles, payment intangibles, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description pledged by Combined Collateral LLC as security in respect of any Realized Losses in connection with such Mortgage Loan up to the Pledged Amount for such Mortgage Loan, and any related collateral, or such other collateral as may be set forth in the Series Supplement.

  • Pledged Amount With respect to any Pledged Asset Loan, the amount of money remitted to Combined Collateral LLC, at the direction of or for the benefit of the related Mortgagor.

  • Pledged Asset Loan Any Mortgage Loan supported by Pledged Assets or such other collateral, other than the related Mortgaged Property, set forth in the Series Supplement.

  • Pledged Account has the meaning set forth in the Deposit and Security Agreement.

  • Pledged Accounts means all of each Grantor’s right, title and interest in all of its Deposit Accounts, Commodity Accounts and Securities Accounts (in all cases, including, without limitation, all Controlled Accounts and Foreign Currency Control Accounts).

  • Pledged Items means, as of any date, any and all securities and instruments delivered by the Pledgor to be held by the Collateral Agent under this Collateral Agreement as Collateral, whether Eligible Collateral or Ineligible Collateral.

  • Pledged Funds means all of the Series Pledged Funds.

  • Pledged Equity has the meaning specified in the Security Agreement.

  • Pledged Equity Interest means an Equity Interest that is included in the Collateral at such time.

  • Pledged when used in conjunction with any type of asset, means at any time an asset of such type that is included (or that creates rights that are included) in the Collateral at such time. For example, “Pledged Equity Interest” means an Equity Interest that is included in the Collateral at such time.

  • Pledged LLC Interests means all right, title and interest of any Grantor as a member of any LLC and all right, title and interest of any Grantor in, to and under any LLC Agreement to which it is a party.

  • Pledged revenue means money pledged to the payment of or as security for:

  • Pledged Stock has the meaning assigned to such term in Section 3.01.

  • Pledged Notes all promissory notes listed on Schedule 2, all Intercompany Notes at any time issued to any Grantor and all other promissory notes issued to or held by any Grantor (other than promissory notes issued in connection with extensions of trade credit by any Grantor in the ordinary course of business).

  • Pledged Asset Mortgage Loan A Mortgage Loan as to which, at the time of origination, a Letter of Credit was issued in favor of the initial holder of such Mortgage Loan.

  • Pledged Trust Interests means all interests in a Delaware business trust or other trust including, without limitation, all trust interests listed on Schedule 4.4(A) under the heading “Pledged Trust Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such trust interests and any interest of such Grantor on the books and records of such trust or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such trust interests.

  • Pledged Equity Interests means all Pledged Stock, Pledged LLC Interests, Pledged Partnership Interests, Pledged Trust Interests and Pledged Alternative Equity Interests.

  • Pledged Shares has the meaning provided in Section 2 hereof.

  • Pledged Bonds means the Bonds purchased with moneys received under the Letter of Credit in connection with a Redemption Drawing and owned or held by the Applicant or an affiliate of the Applicant or by the Trustee and pledged to the Administrative Agent pursuant to the Pledge Agreement.

  • Pledged Revenues means all of the Series Pledged Revenues.

  • Pledged Deposits means all time deposits of money (other than Deposit Accounts and Instruments), whether or not evidenced by certificates, which a Grantor may from time to time designate as pledged to the Administrative Agent or to any Secured Party as security for any Secured Obligations, and all rights to receive interest on said deposits.

  • Pledged Interests shall have the meaning ascribed to such term in Section 4(j).

  • Pledged Property means all Pledged Notes, Pledged Interests, Pledged Shares, all assignments of any amounts due or to become due with respect to the Pledged Interests or the Pledged Shares, all other instruments which are now being delivered by any Grantor to the Administrative Agent or may from time to time hereafter be delivered by any Grantor to the Administrative Agent for the purpose of pledging under this Security Agreement or any other Credit Document, and all proceeds of any of the foregoing.

  • Pledged Indebtedness means the Indebtedness evidenced by promissory notes and instruments listed on Part B of Schedule I hereto;

  • Pledged or Controlled Collateral has the meaning assigned to such term in Section 5.05(a).

  • Pledged Investment Property means any investment property of any Grantor, and any distribution of property made on, in respect of or in exchange for the foregoing from time to time, other than any Pledged Stock or Pledged Debt Instruments.