Qualifying Securitization Transaction means a bona fide securitization transaction effected under terms and conditions customary in the capital markets and consisting of sales of Trade Receivables by a Lincoln Party to a Special Purpose Company which in turn either sells or pledges such Trade Receivables (or undivided interests therein) to a commercial paper conduit or other financing source (whether with or without recourse to the Special Purpose Company), and as to which each of the following conditions shall be satisfied: (i) such sales to the Special Purpose Company are not accounted for under GAAP as secured loans, (ii) such transactions are, in the good faith opinion of a responsible officer of the Company, for fair value and in the best interests of such Lincoln Party, and (iii) recourse to any Lincoln Party in connection with any such sale of Trade Receivables is limited to repurchase, substitution or indemnification obligations customarily provided for in asset securitization transactions and arising from breaches of representations or warranties made by any Lincoln Party in connection with such sale.
Qualifying Securitization Transaction means a bona fide securitization transaction effected under terms and conditions customary in the capital markets and consisting of sales of Trade Receivables by Holdings or a Restricted Subsidiary to a Special Purpose Company which in turn either sells or pledges such Trade Receivables (or undivided interests therein) to a commercial paper conduit or other financing source (whether with or without recourse to the Special Purpose Company), and as to which each of the following conditions shall be satisfied: (i) such sales to the Special Purpose Company are not accounted for under GAAP as secured loans, (ii) such transactions are, in the good faith opinion of a Senior Financial Officer of Holdings, for fair value and in the best interests of Holdings and its Restricted Subsidiaries, and (iii) recourse to the Obligors or any Restricted Subsidiary in connection with any such sale of Trade Receivables is limited to repurchase, substitution or indemnification obligations customarily provided for in asset securitization transactions and arising from breaches of representations or warranties made by Holdings or such Restricted Subsidiary in connection with such sale.
Qualifying Securitization Transaction means a transaction or series of transactions (including amendments, supplements, extensions, renewals, replacements, refinancings or modifications thereof) pursuant to which a Securitization Subsidiary acquires Qualifying Securitization Assets (as defined below) from the Borrower or any Subsidiary in a single transaction or series of transactions and finances or monetizes such Qualifying Securitization Assets through the issuance of indebtedness or equity interests or through the sale of fractional undivided interests in such assets; provided that (a) the Borrower shall have determined in good faith that such transaction or transactions constitute a securitization arrangement and the terms thereof are economically fair and reasonable to the Borrower; (b) all transfers of Qualifying Securitization Assets to or by the Securitization Subsidiary are made for fair value; (c) the financing terms, covenants, termination events and other provisions thereof shall be market terms as determined in good faith by the Borrower; and (d) all transfers of Qualifying Securitization Assets to a Securitization Subsidiary shall be made without recourse to, and no portion of the indebtedness or other contractual obligations of a Securitization Subsidiary is guaranteed by, or is recourse to, the Borrower or any other Subsidiary (other than (i) recourse of customary representations, warranties, covenants and indemnities relating to title, quality, use or condition of the assets transferred to such Securitization Subsidiary as of the time of transfer (and not to collectability thereof during the period from and after the transfer to the Securitization Subsidiary) or (ii) recourse to the extent the corresponding
More Definitions of Qualifying Securitization Transaction
Qualifying Securitization Transaction means a bona fide securitization transaction effected under terms and conditions customary in the capital markets and consisting of sales of Trade Receivables by Holdings or a Restricted Subsidiary to a Special Purpose Company which in turn either sells or pledges such Trade Receivables (or undivided interests therein) to a commercial paper conduit or other financing source (whether with or without recourse to the Special Purpose Company), and as to which each of the following conditions shall be satisfied: (i) such sales to the Special Purpose Company are not accounted
Qualifying Securitization Transaction means the Transfer or pledge (including the granting of a security interest) of Qualifying Receivables by the Company or a Subsidiary, and any related pledges or grants of security interests, in a transaction which (i) results in the Company or such Subsidiary being permitted under FAS 125 (as in effect on the date of the consummation of the transaction in question) to derecognize such Qualifying Receivables in the preparation of the financial statements of the Company or such Subsidiary, and (ii) is effected under such terms and conditions as are customary in transactions of a similar nature.
Qualifying Securitization Transaction means a bona fide securitization transaction effected under terms and conditions customary in the capital markets and consisting of sales of Trade Receivables by a Lincoln Party to a Special Purpose Company which in turn either sells or pledges such Trade Receivables (or undivided interests therein) to a commercial paper conduit or other financing source (whether with or without recourse to the Special Purpose Company), and as to which each of the following conditions shall be satisfied: (i) such sales to the Special Purpose Company are not accounted for under GAAP as secured loans, (ii) such transactions are, in the good faith opinion of a responsible officer of the Company, for fair value and in the best interests of such Lincoln Party, and (iii) recourse to any Lincoln Party in connection with any such sale of Trade Receivables is limited to repurchase, substitution or indemnification
Qualifying Securitization Transaction means [***] “Québec Obligor” has the meaning given to such term in the Sale and Servicing Agreement. “RBSL” has the meaning specified in Section 0, and includes any successor in the capacity specified in Section 0. “Re-Aged” means returning a Loan Asset to current status that was delinquent as at the prior month end, in accordance with the Credit and Collections Policies, without collecting the total amount of principal, interest, and fees that are contractually due; provided that once such a Loan Asset has remained current for at least twelve (12) consecutive months, it shall cease to be considered “Re-aged”. “Receivables” has the meaning given to such term in the Sale and Servicing Agreement. “Receivables Agreement” means in respect of any Loan Asset, the contract, document or instrument (including those evidencing the Loan Asset) to which the Loan Asset Obligor is bound and which provides for the Receivables with respect thereto. “Records” has the meaning given to such term in the Sale and Servicing Agreement. “Register” has the meaning set forth in Section 0. “Related Agreements” means, collectively the Organizational Documents of the Borrower, the Servicing Agreements and the Related Documents. “Related Documents” has the meaning given to such term in the Sale and Servicing Agreement. “Relevant Governmental Body” means the Bank of Canada, or a committee officially endorsed or convened by the Bank of Canada, or any successor thereto. “Replacement Lender” has the meaning set forth in Section 0.
Qualifying Securitization Transaction means a bona fide securitization transaction effected under terms and conditions customary in the capital
Qualifying Securitization Transaction means a bona fide