Examples of Pledged ABS in a sentence
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).
Borrower acknowledges and agrees that all payments on the Pledged ABS will be made to the Collection Account, for the benefit of Lender.
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.
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.
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.
Due to the high degree of competition, applicants proposing to locate in Indianapolis must identify at least one proposed location in a specific area of the city.
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.
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.
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.
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.